Ask Me Anything. I'll try to share.
I've lived in the Dominican Republic maybe 6 or 7 years of my life all together
The longest I've stayed was 2 years (during pandemic). I visited the US once in that time for about a week.
I've lived in Colombia for 8 months and hope to go back next year. That was a full 8 months consecutively and I was 2 months over the 'legal' stay but it's b/c the Embassy responded to nothing by email and I thought my visa extension was valid for 6 months into 2022.
Upon exit, they had me fill out some paperwork and told me they would send me a bill of some sort.
Property wise:
Never owned anything. I always did AirBNB in Colombia.
In DR I do AirBNB first week / maybe month... then I find someone locally b/c the 'gringo' price is usually 2x the normal rate if not more.
I almost bought property in DR but I uncovered the correct property title of the land the person wished to sell me and they were not the true owners. Just they had a 'declaracion Jurada' I belive it's called. Rights for their family to live on the property forever but once they moved, it went back to the owner. They did not own it.
Then I also realized, DR condos/apartments should be a property I buy for personal usage and NOT a business plan. The economy is being overloaded with apartments imo and no real regulation. So to buy here would be a gamble on getting my money back in a reasonable time.
However, making a building and selling apartments = good business in DR. If i had investors, I would do this absolutely.
I would love to own a community in DR b/c I know who/where to buy land at the "Dominican price" vs the extranjero price and have baseball player contacts, who will make sure all goes smoothly.
In Colombia I want to own a home for sure. It's an amazing economy that has all the modern resources of the United States in my opinion. However, if coming to South America, remember the people there are not being paid in dollars. Try to contribute to the community and help others and you will be AMAZED at how those people will repay you in non-financial ways.
Now. Feel Free to Ask Questions.
I've lived in the Dominican Republic maybe 6 or 7 years of my life all together
The longest I've stayed was 2 years (during pandemic). I visited the US once in that time for about a week.
I've lived in Colombia for 8 months and hope to go back next year. That was a full 8 months consecutively and I was 2 months over the 'legal' stay but it's b/c the Embassy responded to nothing by email and I thought my visa extension was valid for 6 months into 2022.
Upon exit, they had me fill out some paperwork and told me they would send me a bill of some sort.
Property wise:
Never owned anything. I always did AirBNB in Colombia.
In DR I do AirBNB first week / maybe month... then I find someone locally b/c the 'gringo' price is usually 2x the normal rate if not more.
I almost bought property in DR but I uncovered the correct property title of the land the person wished to sell me and they were not the true owners. Just they had a 'declaracion Jurada' I belive it's called. Rights for their family to live on the property forever but once they moved, it went back to the owner. They did not own it.
Then I also realized, DR condos/apartments should be a property I buy for personal usage and NOT a business plan. The economy is being overloaded with apartments imo and no real regulation. So to buy here would be a gamble on getting my money back in a reasonable time.
However, making a building and selling apartments = good business in DR. If i had investors, I would do this absolutely.
I would love to own a community in DR b/c I know who/where to buy land at the "Dominican price" vs the extranjero price and have baseball player contacts, who will make sure all goes smoothly.
In Colombia I want to own a home for sure. It's an amazing economy that has all the modern resources of the United States in my opinion. However, if coming to South America, remember the people there are not being paid in dollars. Try to contribute to the community and help others and you will be AMAZED at how those people will repay you in non-financial ways.
Now. Feel Free to Ask Questions.