Take 80 people $2k each, 40 people 4k, or 20 people with $8k
Cheap, and very interesting.
I have actually been thinking about something like this for a while. there are places similarly priced in OBX, NC as well.
Last time I was in cabarete I almost bought a plot of land overlooking the beach for 10k. Joe keep me posted
Wow - that is super cheap. Only issue with kitebeach is that it is really crowded with beginners and is far away from the restaurants and bars. Bozo beach right near town has a couple great developments..Harmony and Ocean Dream.
Dude, I'd be down.
How does something like that work? Say 20 people all throw down, will all 20 names go on the mortgage; or does a real estate company maintain the paperwork of the partnership?
Presumably there wouldn't be a master mortgage involved at all since the cost of individaul shares would be pretty small. People could get loans indpendently for a few k's if necessary.
Probably some small LLC would be setup that owns the unit, buying it outright with the contributions of the members, and members would own shares of that LCC. The LCC bylaws would regulate who could access the unit and when and other things like that. I'm sure someone knows a kiter-lawyer who would be happy to set that up for a free place to crash in Cab.
The DR is my favorite place to go kite. I try to go every year if I could. Its so insane how cheap oceanfront property is down there!!!!!
My good friend Ben Rosario (a kiter for years) is from Cabarete and from what he told me land is much cheaper to buy and build your own house. I know people ex-pats that are doing this in Brazil as well. Just something to think about. If we paid cash for this house we could get it down significantly. This is the DR after all. Nothing is set in price.
Skipper, no way that land is much cheaper, land price depends on where is it located, you can buy very cheap but somewhere 5km far from the civilization, if you want pretty good position you have to pay more, check out here some listings on realtor who is working there 15 year or more: http://www.abc-imobilaria.com/cabarete
are you a spammer or a good person who just lost their way?
- K T H X B Y E P Z -
Assume 20 people would pay cash and be listed on title or all part ownership of the LLC that buys it. Mortgages I assume to be prohibitive.
Some carribean countries require all cash to buy a property. No mortgage for overseas buyers.
Sure looks a lot cheaper than Turks and Caicos. Buy in the carribean while everyone is terrified of Zika!
That price is even cheaper than in 2011...
Anyhow Punta Goleta is way nicer than almost everything else down there...http://puntagoleta.com/