Hola,
My wife and I visited DR for the first time this winter and really loved the place. We are very interested in moving to DR. We have researched other tropical places such as CR and Panama, but really like the short flight distance to Canada. I am 51 and a firefighter, my wife is 50 and works in finance. We are planning a 1 year leave of absence from work and sailing our boat from Kingston Ontario to Bahamas next winter and now have decided to extend the trip down to Luperon and spend about 3-4 months exploring the Island. I am still about 5-7 years away from retirement, but would consider moving sooner if we could manage it financially. One thought is to purchase a condo or villa as an investment and rental, and use a couple of months out of the year, until we can afford to retire. My wife is working on her Medical transcription course in hopes of working part-time online while we are away. I also have a passion for aviation and have been flying small planes for about 20 years on and off. I have thought about working for a local tour company providing sightseeing flights in ultralights, or starting a business providing sightseeing tours. Really looking forward to our visit and learning more about the culture, the people and the possibilities.
Trevor and Tricia
Hello to all!
Trevor and Tricia.
Welcome to the forum.
You are planning wisely. One good thing, if you will be sailing to the Dominican Republic, you will assuredly sail into the world renown Luperon Bay. And spend quality time with other boaters at the Puerto Blanco marina located in the Luperon Bay. Once here, you may want to stay as most boaters do.
By the time you are ready to buy, there should be much more opportunities to consider, housing wise.
I am available to assist you when you plan to be here.
BIG Bob ex Pat from Colorado in Luperon
Welcome to the forums. Sounds like a great trip you have planned.
Make sure to start reading the various threads, lots of info about retiring here, residency etc!! Ask lots of questions too!
Bob and planner,
Thank you for the welcome to the forums. I have read through a lot of the threads, and see there is good information for sure. This is a great resource for us.
Wondering if anyone can give an opinion on the many communities that have condos for sale and offer a rental management program. Are these typically a wise investment or should I be cautious?
I am sure many other expats have had the same idea to buy a condo, rent it out, and use it while we are here for a month or two each winter, until we decide to retire and move full-time. Sound approach?
If that is something you are contemplating then my advice would be to go and rent a condo in the same development and carefully monitor the occupancy rate.
The main office, or the realtor who is touting the investment should be asked, "Can you tell me which of the units in this development are rentals for periodically absentee owners? Watch traffic in those. If they are too far distant to monitor I would not be above taking a little piece of transparent tape and putting it somewhere on the door in a discrete location.
Count traffic and cars. Use common sense. Trust what you actually see.
If you're told the occupancy/rental rate is high and don't see another soul during your visit you may want take the information provided with a grain of salt, or take your due diligence to another level.
Kind regards,
JR
Jaycrenolds,
Thanks for great advice, we will be in DR for 3-4 months and will consider this approach.
Yes check things out first hand. Rent first, check it out. And don't just accept what anyone tells you, confirm everything.
When you buy make sure the realtor and the lawyer represent you only. Here many work for both sides.
Take your time!
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