Dominican Republic: Buying a hotel
 

My father in law said he had read somewhere (US paper?) that now you could buy a hotel in the Dominican Republic for $100k +-. I have tried to find prospects on this but can't find anything "serious". Does any of you know about this or where to search (I know about google :1orglaugh ).

Thanks!

100k ?:o lol?

I hear you can buy a bridge near brooklyn for $100k too

Yea, it just has 1 room, single story and about 10 mins from the beach

I found the price rather low, that is why I want to do some searching. I forgot to ask where he read this.... I found some villas for sale... For $100k you could probably buy a share in one of the rooms there :D

Nowadays, $100k will only get you a decent 1 or 2 bedroom condos close to the beach.
On the other hand, you may buy a cabanas turisticas in the country side :2 cents:

Thanks! I will try to get in touch with him I think. Ask what and where he saw this... :)

100k will go along way in dominican...but you wont be near the big hotels...they control the fresh water im pretty sure...and probably the power.

you can see many shut down hotels along the oceanside there, so id be wary...i would think to open something worthwhile...you would need 2-3 million...or more

then you could have a 20 room type deal....make the food affordable to provide and cook etc

who knows...i certainly have had that dream...open a hotel in a warm tropical place

I have a client who owns a "resort" in Antigua. It's basically just a big house that they rent out and it has all the amenities. They got tired of living in Chicago and moved down there a few years back.

They maintain the properties and have a nice place of their own. They tell me they love it and are never coming back. I have an open invitation to come and visit with the family, but don't want to be tempted myself. :1orglaugh

I have another buddy from HS who has a bar in St. Thomas, USVI and he says the same thing.

He's messing with you because you're boinking his daughter.


.

You need to be more specific than that. Where in the DR?

I'm sure you can find a small hotel for that price in a small town or along a road less traveled, but not in the high tourist beach areas like Punta Cana. You may find something to fix up in a place like Sosua or a surrounding town, but don't count on anything big. Lots of quiet cities and towns in the DR, I'm sure you can find something tiny or a fix up job.

DWB hit the nail on the head. I'm actually going there in few weeks and I can tell you. You can definitely find some nice homes all around beach front areas for that kind of money. Some that aren't completed, some that need a little fixing, and some that are cozy.

As for a hotel though? Big red flag and I would not commit to anything with out seeing it (Obviously)

I have a house in Santiago and that went for a hundred, it's not in livable condition YET and I'm remodeling the hell out of it.

I have been living in the DR for 11 years and real estate prices have ever been as high as they are now. Not that anyone is buying, but sellers expectations have yet to reflect he impact of the recent economic downturn.

Additionally this country is a snake pit full of scammers are thieves, many of them specialize in bogus real estate deals. Get a good lawyer before you buy anything.

Agreed with what you are saying...
Even then though, commitments can fly out of the window! In Spain, many Brits have purchased nice places and done them up only to find 10 years down the road, the agreements were not real and the land does not belong to them! :Oh crap

thanks for pointing that out,:thumbsup you are in a foreign country and as much as it seems great from the outside, you will probably have to pay off everyone and teir mother to stay in business. I think its a sucker bet:2 cents:

I would not get involved with anything to do with Dominicans. :2 cents:

Pretty much all third world countries are scam and pay-off city. It never ends in some of these shit holes. Then once they know you have money to give them, it becomes a regular event. :2 cents:

yup the gravy train from your sweat:winkwink: