I have a few rental properties that I purchased a few years ago, but I'd like to take a step up in investing. I have my Real Estates License, and have been a Loan Officer for close to five years now. With the market as bad as it is, I'd like to use this time to pursue other ventures. My goal is to become a full time Real Estate Investor. Does anyone have any suggestions on the best place to start? Any help is greatly appreciated!

Pre release off plan. Proven Dominican Republic projects are my bet.

Flipp or hang on for two three years with finance and rental contracts upto 15%
Market is growing 20% , lots of personal usage, cheap cost of living


Job done
Mark

Whats your opinion of off-plan apartments in Santo Domingo aimed at the local lettings market?

There are loads of projects in the city - at VERY reasonable prices but the market is obviously a different one to the usual off-plan apart-hotel cliches.

Yeah i have heard they have done very well actually.
Whenever i am there i alsways hear about "this cost this 5 years ago and now it is worth that"
but i do not know the average yeild. Bank finance is really high over there though upto 15% and more so it woould have to be pretty special to pay for itself

You said you did loans, do you know of instituations outside the country that would look to lend on things like residential in the DR??






QUOTE=andyintheworld;62865]Whats your opinion of off-plan apartments in Santo Domingo aimed at the local lettings market?

There are loads of projects in the city - at VERY reasonable prices but the market is obviously a different one to the usual off-plan apart-hotel cliches.[/quote]

There is an American bank which will lend to US, UK and Canadians.
70% loan to value.
Minimum of $100,000 mortgage (I have also been quoted $150,000)

So minimum valuation of about $143,000 (or $215,000 if the second quote is correct).

The biggest problem I can see is if the purchase price has been inflated above the valuation and you were unable to qualify because the mortgage was therefore lower than $100,000.

Dont know how the current credit crunch will have affected product availability either - generally cases have to be very "clean" for expatriate mortgages in other countries - most likely the same for this product.