Hello again Harry! I just now saw your email and here’s a quick account, hopefully before your deadline- My husband (61yrs) and I (58) have traveled thruout the world, including Australia, New Zealand, Europe, most Caribbean islands and several countries in North and South America, so we didn’t just buy in the first country we saw. We knew what we DIDN’T want: high rise condos, lots of tourists and strip malls. We DID want a great walking beach, lively town with good grocery stores and restaurants and, most of all, an affordable cost of living. We found all that in Las Terrenas. We loved the mix of French, Italians, Germans and local Dominicans. We discovered a local bar/restaurant named “Kelly’s” after its beautiful Canadian owner, where we met interesting, intelligent and fun people who speak English (we’re still working on our Spanish!) It’s important to have a meeting place like the TV show “Cheers” where “everybody knows your name!” Las Terrenas has over ten miles of beaches and the town is surrounded by beautiful palmtree-covered hills. During our last visit, my husband walked down to the beach and bought some red snappers right out of the fishing boat. They filleted the fish on the beach, we grilled it on our backyard grill that evening and enjoyed it with a fresh baguette from the French bakery and wine and vegetables from Super Mercado Lindo! We actually bought one of the very first properties that Dan Hussmann showed us. We’d seen two condos and a house on the hill, but as soon as I saw the heleconia and wild ginger growing along the wall and the turquoise swimming pool I knew we’d found our piece of paradise! Danny called the owners in the US and we made them an offer and the deal was done in about 48 hours! We realize excellent rental income from our house which we rent for $600/week and advertise on http://www.homeaway.com/vacation-rental/p202857 . We just had the entire 900 sq ft villa tiled with white ceramic tiles for only $1500US and we’re planning to add a second bathroom. Again– I invite anyone interested in a wonderful way of life to check out Las Terrenas. Rent our house during your visit and let Danny and Bruce from DR Paradise show you around! Susan Miller

Hi Harry–
Thanks for your note–
Anyhow…. we first visited Panama with the intention of buying there, (and saw all the places Kathleen has mentioned) but…it wasn’t for us! So we contacted DR Paradise, the RE company in Las Terrenas who was mentioned in the Live+Invest article-
Both Bruce Pierson and Dan Hussmann were fantastic to work with and I highly recommend them and their services! Danny was our realtor for House Hunters and did a super job– These two guys know EVERYthing about Las Terrenas and have become good friends of ours–
I was writing my original letter to report that House Hunters International is looking for more couples who are buying on the Samana Peninsula and to contact Danny if they’re interested!
Please let me know if you’d like more details about our purchase and thank Kathleen for sending us to the DR!
All best-
Susan Miller

—– Original Message —–
From: Harry Kalashian
To: Susanspeaks@bellsouth.net
Sent: Wednesday, April 01, 2009 6:45 PM
Subject: RE: House Hunters International

Hello Ms. Miller,

Thank you for your wonderful email. The house seems spectacular!

I wanted to notify you that your message was actually published in today’s issue of the Overseas Opportunity Letter. You can go here to read it: http://www.liveandinvestoverseas.com/archives09april1.html We hope you receive some good inquiries for the rental.

I also wanted to inquire about the buying process you had in the DR. We are currently working on a report for the Dominican Republic, and our now in the resources phase. To that end, could you give us the name of your Real Estate Agent (or company)? We are constantly seeking honest and dependable agents whom we can research and recommend to your fellow readers and soon-to-be overseas investors.

We’d appreciate any info you can provide.

Thanks again, please do not hesitate to write again.

Best regards,

Harry Kalashian
Marketing Manager
Live and Invest Overseas
________________________________________
From: editorial@liveandinvestoverseas.com [mailto:editorial@liveandinvestoverseas.com]
Sent: Tuesday, March 31, 2009 3:43 PM
Subject: Fwd: House Hunters International

—–Original Message—–
From: Susanspeaks@bellsouth.net [mailto:Susanspeaks@bellsouth.net]
Sent: Monday, March 30, 2009 04:24 PM
To: Editorial@liveandinvestoverseas.com
Subject: House Hunters International
Hi Kathleen-
As I’ve written previously, my husband and I bought a vacation/rental house in Las Terrenas, Dominican Republic BECAUSE we read about the area in your wonderful newsletter–thank you again! We’re so happy we took a chance and bought our 2 BR house with swimming pool just 300 steps from the beach even though we live in the US and still do not speak (good) Spanish! We rent our house through www.homeaway.com/202857

Susan Miller, Author * Speaker * Trainer
Working in The Positive Zone®
Creating high energy, low stress workplaces
Local: 502-228-5558
Toll-free:1-8-NOT-BORING
http://www.ThePositiveZone.net

Get a good look at fat Dan here in Las Terrenas.

February 18, 2009 CONTACT: Susan Miller
502-228-6272 502-396-1576 cell

HGTV Hit Show, “House Hunters International”
to Feature Local Couple, Tuesday, March 24, 2009

Concerned by their dwindling retirement funds, Prospect residents Steve and Susan Miller searched last year for a vacation home in a country with low living costs and tropical weather. In July, 2008, they purchased a two bedroom villa with a swimming pool only 300 steps from the beach in the town of Las Terrenas, Dominican Republic.

A production team from HGTV’s “House Hunters International” filmed the Millers at their riverfront home in Prospect and during their search in the Dominican Republic in June and July, 2008. During the program, the couple tours three homes with their local Realtor and discusses the pros and cons of each property.

The half-hour episode will air Tuesday, March 24 (time TBA) on HGTV channel 51.

More pics>

HHI Crew Beach is 300 steps away

Villa has a ¼ acre walled yard Living area in Las Terrenas

Kitchen in Prospect home Kitchen in Las Terrenas

Corporate Alert: New Company Law Enacted
March 14th, 2009, Dominican Republic

President Fernández signed into law on December 11, 2008, a new company law (Law #479-08″) which will revolutionize the way business is done in the Dominican Republic. The most important innovation brought about by the new statute is the creation of two new business entities: the “Sociedad de Responsabilidad Limitada or SRL” (Limited Liability Company or LLC) and the “Empresa individual de Responsabilidad Limitada or EIRL (Limited Liability Individual Business). The “Sociedad Anónima or S.A.,” currently the entity of choice of 99% of Dominican businesses, has been amended to make it the vehicle for medium or large businesses. Here are the characteristics of the two new business entities (SRL and EIRL) and the most important changes made to the S.A.

Limited Liability Company (SRL):

• Based mostly on the current LLC’s in French Company Law with certain similarities with American LLC’s.
• Chief company officer(s): one or various managers (“gerentes”). Must be individuals.
• Minimum of two shareholders; maximum of 50. Spouses may be the sole shareholders.
• RD$100,000 minimum capital (full amount must be paid up and deposited in a bank in order to be able to record company at Business Registry).
• Shares not readily transferable, depending on wishes of shareholders.
• Shareholders’ liability limited to their investment in the company.
• Ideal for small or family businesses.

Limited Liability Individual Business (EIRL):

• No shareholders; one sole individual owns the business.
• Owner must be an individual; companies cannot be an owner.
• Owner’s liability limited to his or her investment in the company
• No minimum capital.
• Chief Officer(s): the owner and the manager. The owner may be the manager.
• Ideal for businesses owned by a single individual.

Sociedad Anónima (SA):

• Minimum capital: RD$30,000,000 (approx. $850,000 US).
• Board of Managers (“Consejo de Administración) required with a minimum of 3 members.
• “Comisario de Cuentas” required. (The Comisario de Cuentas is an independent company officer in charge of overseeing the company accounts. Comisarios de Cuentas must be Certified Public Accountants).
• Tougher criminal penalties for SA managers compared to SRL managers.

The new law will come into effect on June 19, 2009. By then, every S.A. must comply with the new requirements IF its shareholders wish to remain as an S. A.

If, on the other hand, shareholders wish to convert their S.A. into an SRL (LLC) or an EIRL (Individual Business), the conversion period will start on June 19, 2009.

Guzman Ariza attorneys have been active participants in the changeover process. Fabio J. Guzman-Ariza and Alfredo A. Guzman, senior partner and associate, respectively, in the firm, partnered with the Fermin Taveras Law Firm in the preparation of the regulations that will be used by the Business Registries (“Registro Mercantil”) in the new process. They have also prepared for publication in April 2009 a book of company forms for the SRL’s and the EIRL’s, and a comparative study on the operation of the SRL’s.

Clients who have incorporated in the Dominican Republic are invited to contact their attorney at Guzman Ariza for a FREE consultation on how to proceed.

2. DR still not “feeling it”
Hacienda Minister Vicente Bengoa tells us the DR and Central America have yet to feel the pressures of the world economic crisis, saying that what is being seen is a deceleration of growth in the region’s economies. Bengoa explained that a recession is defined by two consecutive semesters of negative growth, while what is being seen in the region is a period of slower growth. Bengoa predicts that economic growth will be an estimated 3% in 2009 after having registered 8.5% in the last four years.

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March 4, 2009

Two Sweet Spots
South of the Border
Dominican Republic
The International Association of Golf Travel Operators recently named the Dominican Republic “The Golf Destination of the Year 2009″ for the Caribbean and Latin America. It boasts two of the largest golf resorts in the Caribbean:
• The venerable Casa de Campo Resort near La Romana has three magnificent courses designed by Pete Dye: the Teeth of the Dog (see photo), Dye Fore and Links
• Cap Cana, a $2 billion, 8,600-acre resort, has luxury hotels, a marina, residential villages, three miles of beach and three championship golf courses (with plans for three additional courses). The resort hosts the Cap Cana Championship, a Champions Tour event.
Mexico’s Riviera Maya
This region, which includes Cancun, is not just for spring breakers and the cruise-ship crowd. Golfers are increasingly finding great venues to tee it up at places like:
• Greg Norman’s El Camaleon (site of the PGA TOUR’s Mayakoba Golf Classic at Riviera Maya)
• P.B. Dye’s Iberostar Playa Paraiso GC
• and Jack Nicklaus’ 27 holes at the Moon Palace Resort
New courses in the works include the separate layouts by Tom Fazio and Nick Price at the Cancun Country Club and Puerto Cancun by Tom Weiskopf.
FLORIDA SWING TRIP GOLFPAC

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Hey Bobbi,

Answers below please

From: bdrexler1@aol.com [mailto:bdrexler1@aol.com]
Sent: Thursday, March 05, 2009 9:42 AM
To: danhussmann@gmail.com
Subject: INFO

Hey Dan,

Got your info and am still going thru it. Looks like Barb has got the right idea.
[Daniel] sure…it is a lot of info…it will answer lots of your questions though – you should subscribe to www.dr1.com as well. Next, when you have time, spend some time on my BLOG…

I’d probably spend some time on the Guzman webpage too…I attached it to last letter

First of all; I am thinking about us moving there. Are you a real estate broker, and do
you live in Florida, or there? Explain how all that works. Where in Florida–Ft. Lauderdale???
[Daniel] I have my Florida Brokers License on voluntary inactive…I live here full time

We would be interested in keeping a home here and having a small place there to see
how we like things. We will visit I hope this summer.
[Daniel] Perfect!
I would like to work there selling
real estate; Barb says it’s an untapped market with lots of newcomers.
[Daniel] how’s your Spanish?

I also want to know about social security checks (my husband’s), and pension checks–
we are on automatic deposit. Would we use a bank in Florida for that and just actually,
how does all that stuff work.
[Daniel] not 100% sure as I am WAY too young for that stuff! I use a Florida Bank, but I also have an account here.
I know some of the income we have (I think it may be social
security for Frank, or maybe his VA pension) is not payable out of the country. I don’t know
for sure, but I have in the back of my mind, that I ran across that in print somewhere.
[Daniel] you probably better get a hold of them.

So, what I want to know right now is about the cost of living vs. our US dollar. Can you tell me.
[Daniel] currently, the Dominican Peso is about 35 pesos to the dollar. Outside of a monthly house payment one can live VERY comfortably here for under $3,000 a month…that would include a maid and a gardener!

Also, are there US banks there, or do you bank in Florida?
[Daniel] none that I know of
Do you actually live there, or do you
go back and forth to Florida.
[Daniel] here 100% of the time…only way I am going back is swim, and if I do tat, I sort of hope I don’t make it!
What franchise (real estate) do you work with.
[Daniel] DR Paradise is independently owned…been here 10 years.
How much does
a great agent make yearly????
[Daniel] ???? It is not as easy as people think…again, how’s your Spanish. The world’s economy has not helped us either. We are not as bad as many places, and we are starting to see people taking their money out of the US and investing it here, but it is difficult. Without two of our partners here who are Dominican and born here on the peninsula we could not do it. Sellers are a mess here…they never have their paperwork ready…it is really hard!

You seem to be an exception though if you did 8Mil last year! Tough times to do that well. How many agents do you have?
Tell me about the new resort/hotel Barb has been talking
about.
[Daniel] Barb? Which one?

What employment opportunites would there be for my son, age 30, and his wife.
[Daniel] Skills? That’s a tough one too because wages are SO low…I attached “Developing Apartments…” above…that’s a sure way! Other than that, live here and find your nitch…figure what is needed (lots) and then fill that need…I myself am opening a Topless Drive-thru liquor store. (Just kidding about the Topless part!)
They have
1 son under one year of age? Schools? Just thinking in time, they may want to move as well.
[Daniel] We have a private French School that is pretty good…all the kids there have at least 2 languages and most 3. There is more to education than just school so living in other countries and learning different cultures adds to ones emotional intelligence

I know all this sounds probably really elementary to you but I need some kind of basis to know
more about what to check into.
[Daniel] again, I’d get on www.dr1.com … join the chat rooms…better info than I can provide and many different experiences, not just mine
How does your real estate commission work
[Daniel] what commission? Just kidding. It depends on the deal…who works it…we really partner on a lot of it. Bruce and I (the two gringos) depend on Pedro and Deiby for their Dominican Knowledge and they depend on us for our computer and networking and marketing skills. We being ‘em in and they help us close…they also get so many more listings tat neither Bruce nor I could touch.
-what percent;
[Daniel] depends

desk fees?,
[Daniel] none
etc.

Are you a ReMax agent or Broker. Is it ReMax. I used to own a quarter interest in a Re/Max
franchise in Ky. It’s a great company.
[Daniel] We have a Remax here…not doing much but maybe they need a go-getter like you! I would have to leave the hiring of another agent to Bruce and Pedro the two principals of DR Paradise
[Daniel] Hope I’ve helped Bobbi…be sure to give DR1 a try.

Can you drop me an e-mail re above info for starters.

Look forward to your call.

Bobbi

1. DR and US Co. go solar
The Dominican government and Sunovia Energy Technologies from the United States have signed an agreement to install the first solar energy plant in the country, according to a company press release.
In a press release, Carl Smith, the executive director of Sunovia Energy Technologies said that Dominican President Leonel Fernandez has shown a “tremendous passion for resolving the country’s energy difficulties.”
The executive said that the Dominican government has “realized that having a bilateral focus, including responsible renewable energy production combined with a energy conservation program are critical steps that have to be taken in order to get the country on the road to acquiring energy independence.”
The agreement sets an investment of some US$200 million and is said will provide employment for 2,500 workers.
Eddy Martinez, executive director of the Dominican Republic Center for Exports and Investments (CEI-RD) stressed that the agreement is the result of “intense work” that the nation has done over the past few years in its efforts to reduce its dependence on oil.
“And, at the same time, to create new jobs and attract new investments to the island”, he said.
The contract with Sunovia Energy Technologies, which is based in Sarasota, Florida, is part of a wave of new investments in renewable energy in the Dominican Republic, according to the official.
This wave includes other companies from the United States like the Masada Resource Group, STC Engineering and Burbano Recycling have established energy generation and bio-fuel facilities in the country, according to the Dominican official.
Martinez stressed that as well as wanting to attract investors in renewable energy the country also wants to expand investments in sectors relating to stem cells, genetically modified foodstuffs and the creation of hybrid fuel vehicles.

4. Leonel revokes tax increase
The director of Department of Taxes (DGII), Juan Hernandez, has suspended, for the time being anyway, the raise in assessment values on real estate and in its table of reference for calculating the Tax on Property (IPI). He said he did so in response to a request from President Fernandez. The Dominican leader asked the official to wait until the end of debates at the National Unity Summit.
Despite knowing that the values attached to real estate classified as luxurious or as unused urban lots or buildings have not been revised since 2005, Fernandez said that “we need to wait until the process of the working group dealing with the economy and competitiveness is finished.”
Business sectors have said the appraisal is untimely, because many real estate property prices are inflated by the effects of the real estate bubble that has not left the DR unscathed. These sectors say the government should wait and see what effects the global financial and real estate crisis will have on property prices here.These sectors say the government should wait to see what effects the global financial and real estate crisis have on prices of property here.
The DGII director confirmed the request from the President, saying that it was in line with the spirit of the Unity Summit that is seeking a consensus on all major issues.
According to DR1 News yesterday, the tax director ordered a revision of the assessments on urban properties that serve as the base for the IPI, and even though the measure did not imply an increase in taxes, it did modify the baseline for the payment of the 1% tax on assets due to the fact that this works on the difference between the RD$5.0 million established as exonerated and the new value established by the property assessors.

5. Construction materials prices decline
Reinforced bars for construction have dropped from RD$3,000 a quintal two months ago to RD$1,550, reflecting a major decline in demand. Listin Diario reports that nevertheless the bag of cement is holding to around RD$255, despite major declines in imported inputs. Cement producers say that the price of the fuel they use to run their operation has not declined. Prices on cement blocks have also declined. Hardware store owner Jose Jimenez said that Dominicans should make the most of the decline that he believes is only temporary.