All Forum Posts by: Joel F.

@Yonathan Beltran De La cruz wholesaling will not work in RD. RD is more for developing. CASH FLOW in RD is excellent they provide great cap rates. If you need help with construction projects! Be careful when investing in the island!

@Yonathan Beltran De La cruz, Yes! Dominican Republic is an excellent place to invest in Real Estate. But you have to be careful where you invest and who you invest your money. If you looking for cash flow properties best to invest in Santo Domingo, Bavaro, Santiago, and Sosua. If you need help with construction design, build, management of property I’m here to help.

@Breelon Bryant what are the best zip codes to buy middle class properties?

@Marlen Weber You welcome. I love the island the cash flow here on apartments is great if you buy the right land and the right builders.

@Sean Golar with 666 m2 you can build 12 apartments

@Sean Golar all apartments was sold sorry for the late response. We converted each apartment to condos and resold. Dominican Republic is great to build your portfolio of apartments.

@Gloria Grotjan yes! That’s true been looking for a while I have not find anyone! I brought 5 distress homes can’t rehab them yet until I find a good property management company.

Good Day Everyone !

I am seeking property management company that can help me with managing property in Jackson Mississippi in low income neighborhoods. I will be purchasing properties in this area and will be seeking Section 8 tenants or low income tenants. Also if the property management company will help with the renovation or direct me to great handyman will be appreciated.

Seeking Property Management Company with license and insured to help me with managing properties in Jackson MS.

PM with your contact information!

@James Knecht As Far as financing is concerned. When I first went to DR to build I went to the banks and they denied me because I am not in they credit system which is called "Datos De Creditos." So what I did was cash out one of my rental properties here in the states and started to buy land and invest in the country. 

In order for you to build credit in the country is simple open an account in Dollars or Pesos. Tell the banker you want a CD for example of 100 thousand pesos or in dollars about $1900.00. After a month or two come back to the bank and tell them you want to borrow $1000.00 from the bank and use the $1900 CD as collateral and you want to repay it within 6 months. 

They will automatically approve you and they will register your passport number in there credit system and when you pay them on time you will have establish credit. This is what I did and the whole process took a year. But I must remind you the interest rate in the banks are really high. Best to cash out on one of your rentals and invest in the country only for emergency purposes you borrow. You can PM if you want to know some of the banks interest rate.

Start a SRL will cost you about USD 500.00 if you do it on your own. Reputable lawyer will charge you USD 2000-3000. Because they are so much departments you have to get approvals and documents.

Pay your taxes don't mess with DGII (Dirección General De Impuestos General) get a good accountant to maintain your books and report to DGII monthly, file your annual taxes on time, and stay in good standings!

@James Knecht I am from MIA as well. I have my SRL company in DR which is similar to LLC in the States. We are currently building single family homes in Bavaro area about 5 minutes away from Downtown Bavaro. If you need assistance with anything feel free to PM. Our firm can help you with plans, permits, and building anything you want in the island. I have Arq and Engineers who are affordable. My expertise areas in Punta Cana/Bavaro, Santo Domingo, Santiago, and Jarabacoa in the future we will go to Sosua. But for now these are the cities that is booming to my opinion in rentals and sales.