How To Start An Airbnb Business In Dominican Republic
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- Опубликовано: 10 окт 2024
- Starting an Airbnb Business in Dominican Republic can be a a great investment for people who do it the right way. In this video I go over some commonly asked questions that I get about starting an Airbnb business here in Dominican Republic. I'm sure this information can be helpful to those looking to invest in the country. Enjoy
#airbnbbusiness #businessindominicanrepublic #domincanrepublicwomen
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Great Video! Another video idea would be, how to purchase an AirBnb (or any) home in DR. Including obtaining a mortgage, credit check, lawyer, and avoiding property scams and bad realtors. I learned recently that realtors in DR are not required to be licensed.
I love that comment
Yes that is true depending on the company they are not. Thank you for the subjection.
Socrates solano, escribeme y te recomiendo a alguien que me hiso a mi todos los tramites!
Great comment 👌👍
I am very greatful for all your videos because they have helped me tremendously i currently have two Airbnb and i started last December the business is fast paced but the profit im seeing is well worth it. My goal is to continue adding more units to my profile and eventually opening a property management company i totally see it happening thank you and God bless
That sounds good. Thank you.
Where are your properties located in the DR?
hey can you send me information on how you did it?
How’d did you go about getting your air bnb started ? Who did you contact in DR
What city?
I’m working on building one in jarabacoa. You have been super inspirational, thank you for all your videos !!
Me too, how has it been finding contractors to do work?
@@ladytravels4808 I just bought some land but plan on looking for contractors in May. How has the journey been for you?
@@cruzjay188 it has been strenuous to say the least, there so much construction going on right now and every one that’s worth hiring is busy which is good for them. Arm yourself with patience it will pay off 🥰
My brothers are engineers and they go any part of the DR to build just in case😊.
@@NorberisR how to reach you I left a message in your inbox a week ago
I’m a new subscriber . Love your Chanel so far. All the best ❤
Thank you, I appreciate it.
You are a very good helper. Thank you.
You are very welcome.
Your video right on time. I've been thinking how to start an Airbnb in D.R.. I'm looking at Santiago, Santo domingo, n Samana.
Thank you. I wish you the best with your search.
Your collection of videos are so on topic , great content , regards Dave UK :)
Many thanks!🤗🇩🇴
I love watching your vids. Omg Nerberis now you make me wanna ✈ ✈ to 🇩🇴 already
Thank you so much for this vídeo, i was just about to comment in another video for you to talk about this. You are gem!
Thank you❤.
Hi Norberis, I have one in La Romana and 2 in Punta Cana. Can't wait for completion in October.
Very good👍❤.
Which town do you think is better for airbnb?
Thanks- in reference to furnishing - -
You're welcome.
Great video 👍Thank you for your INFOR!!!!! I Appreciate it I ask you before about Airbnb business you give me alot of advice Thank you so much …ENJOY and Stay Safe 🌹
Thank you, you are very welcome.
You have the best advice
Thank you❤
Excellent information as usual.
Thank you.
Congratulations. Always making moves.
Thank you.
Awesome info. 👌...
Been a fan for years .. keep it up
Thank you very much.
Thank you 🙏🏾❤ I love your content🙌🇩🇴
Thank you❤👍🇩🇴.
Mami you right on time lol, as soon as I searched this topic you made a video the same day
👍.
Thanks Norberies for all this information asatamente esa information its great .
Thank you.
Early!! AND First Commenter :)
Thank you❤.
Hola! Gracias por traernos toda esta información! Yo tengo una casa en Sto.Dgo. Este, y a veces he pensado hacer un bnb, buscando una persona competente que quiera trabajar conmigo y que se encargue de la responsabilidad que conlleva este negocio. Yo vivo en NY. Me podrías dar tu opinión viendo los pro y los contra de esta idea, y si conoces a alguien que puedas recomendar? Gracias!
Hola Angel me puedes mandar un mensaje a norberis@norberisr.com
I’m gonna start my business for Airbnb, but I heard some let you sublet and some don’t but I guess it depends on the person. But hopefully some don’t mind
That's true some people will some people won't.
Very good video. I learned a lot.
Thank you and you are welcome.
Great information thanks
Thank you.
That was great.
Thank you.
Great video as always!! Where can I look at properties to purchase? Also do I have to have the full amount in cash to buy or can I get a loan with a down payment?
You can look online. There are many websites to find properties. One is corotos.com.do and you can also Google the area you want to purchase for new developments. It is possible to get loan here if you meet the bank requirements.
Well needed and well done video... good job. I simply love the way you say AirBnB 😊
Thank you😊.
Generally not a good idea to be using $10,000 to furnish a place you do not own. In economics that is called sunk costs. Not sure about DR but in most developing countries contracts are not strictly enforced. What happens if the owner turns around and wants to cancel the lease then you are stuck with property you cannot use or have to sell at a steep discount. I agree with you, if you have to lease go with something furnished and reduce your upfront costs.
👍.
Very good video, thanks for covering so many options and being extra thorough 👍🏿
You are welcome.
This is great information for me, I have a friend and she stay in Santo Domingo so I'm interested in trying to understand the AirBnB business. maybe possibly getting it started
Thank you and you are welcome.
@@NorberisR You're Welcome
Looks like a good idea to start a airbnb business
Yes it is.
love your videos but please a bit more slow its hard to understand
Good long term investment but not medium or short term, would take a minute to recover the investment and start to see a profit
Yes I agree if you furnish the place yourself it can take some time to recover your investment.
THANK YOU !!
You are very welcome.
Hi! Love your video. Would you recommend renting or buying an apartment?
Depending on what you are trying to do?
Cool video 👍🏿
Thank you.
I want to rent a furniture apartment en Los tres ojos, Santo Domingo, Este, Dominican Republic
Hi☺️ thank you so much for this video, what do you think it’s a good idea to start in punta Cana or Santo Domingo and which site do you go to look at appartements while you’re in the states?
If you have any recommendations I’ll be happy to rent from you😄
To me both places are good to have airb&b they have different reason to attract people. I will check www.corotos.com, mercadolibre.com.do, encuentra24.com and point2home.com. And I do not have any for rent available sorry😌.
I just bought one in Punta Cana more tourists and thr locals like to go there for holidays or time off
we are buying land in Rio San Juan and building a home.. We want to airbnb until we retire.. How is Rio San Juan?
Rio San Juan is very nice. Not sure about the Airbnb business there but a lot of locals do visit that area.
@@NorberisR Definetly in the near future we are gonna need home design. Your brother can do that for us? what's your instagram? you can talk with my wife.. she's doninican
Me gustaría a ver un video explicando cómo encontrar un negocio para limpiar, lavar y secar la sábanas?
También más o menos cuanto se gasta en los servicios de wifi y limpieza
No entiendo muy bien la pregunta si buscas a alguien para limpiar y lavar en tu casa hay agencias aquí que bueyes contactar para eso. Los gastos dependerá de lo la persona va hace en la casa y cuantos días a la semana. Pero debes mira entre 10,000 y 15,000 pesos mensuales. Y el wifi aquí hay un paquete que es el triple play que paga 2900 pesos por internet, cable y teléfono residencial.
My dream is to build in my 15.5 acres in Matanza Bani on the main road leading to “Puntaarena” new development , was hoping to start a Eco friendly Airbnb with a outdoor food truck area for events ..
That is a good idea. I like Bani is a beautiful town and we need some new and fresh ideas to bring visitors to small towns🙌😊.
I just came across your video, and I am just buying a land in DR & eventually I want to turn my villa into an Airbnb. How can I get that started once it’s built?
Do you mean how to list your property on Airbnb?
I just purchased a project in Punta Cana called the beach they saying I could make 30k per year as a conservative income for this apartment. Does this sound abiut right. What's the average a airbnb brings in yearly
I'm not sure. I haven't had a full year managing to say right now.
@@NorberisR Thanks and good luck 🤞
I bought all of my stuff from IKEA
Yes this is a good store to buy affordable item for an Air BnB.
Where can I find apartments to rent that I would be able to sublease?
I want to buy 1000m in San Francisco. What do you think about San Francisco economy?
I've never been to San Francisco but I know it's a nice size city with a few hundred thousand in population. It seems to be a good area.
Since I saw the process in the DR I started thinking about doing Airbnb but I need to figure where, DR or Mexico
Both are good places but yes you first need to pick a place.
Super video, but I miss information on the cost of renting. What taxes do i have to pay for AirBnB? As the Owner, do I pay the tax myself or AirBnB in the Dominican Republic collects income tax or other tax itself and transfers my tax money to me?
You set your own renting price. Airbnb is an American company it has nothing to do with Dominican Republic. I recommend speaking to an accountant to answer tax questions.
No foreigner tax for 15 years in the DR but if you a American citizen you must pay income tax on your Dominican property
What about having a generator for airbnb property to rent ?
What about it. I don't understand the question.
@NorberisR my question is - do I need generator if power goes off since I want rent my apartment in airbnb do ypu think it's necessary to get a generator?
Of course its necessary in my opinion
@NorberisR then next question what kind of generator
@@jettjeff686 it all depends on how many watts you need. I can't answer that sorry. I recommend going to a hardware store and getting their recommendation based on what you want connected to it and for how long.
How do you setup an airbnb account through a Dominican corporation? Is this easy, I’m not familiar how airbnb or Vrbo handles this and how are taxes handled? We don’t have mail service for documents down in the DR. Thanks
Honestly, I'm not sure. I recommend talking to a lawyer. I manage Airbnbs, I don't own properties itself to provide this advice.
@@NorberisR OK Thank you. How do you pay taxes on revenue you make through Airbnb? Does Airbnb try to send you any tax forms?
@@pilotbsinthesky3443 this is my first year managing Airbnb so I haven't filed taxes yet but I imagine you will be sent a 1099 to file your taxes. But I recommend checking with Airbnb to be sure.
Thanks for the video. Yo sé que es difícil pero como cuanto se puede ganar o cuánto tiempo del año sé rental los airbnb mas o meno
Tu sabes que todo depender de varias cosas como por ejemplo areas en que los airb&b son buscado pero la respuesta que he escuchado mas frecuente es que tu puedes contar con por lo menos 20 dias al mes seguro de la renta de tu unidad.
Hola ! What happens if I don’t want to add a co-signer ?
Do you have all the money to pay upfront for a year?
It’s a good business to be in Norberis. But sooner or later it’s going to get saturated and difficult to make money.. maybe I am wrong.
My husband was just saying the same thing. He said there is no regulation and people are charging whatever they want and now Airbnb are starting to be more expensive than hotels after all the fees the host tact on.
@@NorberisR yes I have been noticing that. My last trip there for my Airbnb was more expensive than before. I look at some of these spots on the site and wonder who is saying at these places. Your not wrong .
Hi Norberis! I will be traveling to the DR soon and would like to Book your property for myself only. I have been an AirBnB Member for nearly 10 Years with ALL positive reviews. Please provide me with the link to your property on the AirBnB website or advise me how to get in contract with your directly. Thank you
This property is perfect for one person www.airbnb.com/h/santodomingo1brcondo
Hi norberis! Do i have to request a dba for my airbnb? And register the name in onapi?
You don't have to do that for an Airbnb.
@@NorberisR thank you 😀
Hola! Me gustaría saber si conoces alguna compañía en Santo Domingo que agá management a los Airbnb? Tengo una casa en santo Domingo este que necesito quien me la maneje.
Me puedes enviar un correo a norberis@norberisr.com
Lesly sanches! Hola, e leydo tu mensaje y me interesa alludarte! Tengo dos banb en DR Y varios en londres, escribeme y hablos de tu negosio!
I am looking to start an Airbnb bussiness, I wanted to rent an apartment I’ve spoken to the landlord to reach an agreement and then I can do Airbnb. Do you think that is a good approach, I am located in Santiago? Also would it be easier to do it here or Santo Domingo
Either place would work. Im guessing you asking if subleasing is a good approach. I would say yes if you can negotiate the right price.
I have been looking for some condos at good prices... just dont know where I can get the best occupancy
It all comes down to locations, some of the best places are big cities and tourist areas.
Punta Cana, Samana, Juan Dolio
Do you know if I can use an LLC in America to run an Airbnb business in DR? Or do I have to get a business license in DR to run an Airbnb?
Yes you can.
@@NorberisRthank you for the response! Would you happen to know if there’s anything that needs to be reported to the DR? Or taxes owed to DR if doing subleasing? I can’t find anything on regulations
No, at the moment there is nothing that needs to be reported in terms of income or taxes.
Una modelo muy bella
Thank you.
How do you find a property manager?
You are looking at one😊, depending on the city.
@@NorberisR Perfect. And TY for the video about Coworking spaces. Last week, I visited 2work. It was everything I wanted. If I elect to get a place, I'll reach out. TY.
lol, $10k to fully furnish an Airbnb? How much buying empty land cost in DR? Also, can you make a video on preferred furniture place to shop at?
Well if you want to furnish your place with patio furniture, plastic chairs, plastic tables, and plastic cups/plates, plastic eating utensils, with a mini refrigerator and no washer/dryer, no ceiling fans, and no A/C. I'm sure you can get it around your comfortable broke man budget of $500🤣😂.
@@NorberisR Nice. Warren Buffet likes to save money, maybe I shouldn’t have such role models towards my bank account. I would take your kind rich advice and search for what you have suggested. All plastic everything and keep $9,500. How much is buying an empty land?
@@DJBaBoresds you don't sound much like a student of Warren Buffett because his strategy isn't saving it's investing. And you have to spend money to invest. You're more of a Dave Ramsey guy😂🤣
@@NorberisR I was hoping you would say that. To invest is to save with a hope for a return. If it doesn’t return, the person who didn’t put money to work (saving) is still richer. First we learn how to be a saver in order to build patience to develop a mindset of allowing the money to then act. So I’m very much in the Warren Buffet side, but I could see how most wouldn’t agree to the saving mindset coming first. (We save or hold onto money to then create a business) I’m still waiting for my question about an empty land if you have time
@@DJBaBoresds of course you must save to invest. I've made plenty of videos about land and recommend you check out those videos in my real estate playlist. Just like anywhere the cost of land depends on location. Land in Manhattan cost different than land in Boise, Idaho. Same thing here.
Hola, tengo un apto en mirador norte. Pero está rentado y el segundo paso es ponerlo an ABNB cuando el inquilino se mude. Usted está administrando (host) ABNB ? Gracias y DTB!
Si yo estoy administrando airb&b. Cuando se muda el inquilino?
Usted sabe cómo son las cosa en RD, no tengo fecha . Pero es bueno sabe que usted está en eso y cualquier cosa la tendré pendiente.
Hola Norberis mi familia es Dominicanos🇩🇴🇩🇴🇩🇴 pero yo vivo en ustados unidos🇺🇸 y estoy interesado en iniciar un negocio de rental carro en la replublica Mas en Lugares des donde los turista estan serria un buen idea.??
Buenisima idea, trata de empesar lento no te arranques muy rapido que puedas controlar cualquier dano antes de crecer, y trata de mantenerlo con turistas es menos complicado.
Hi ms Norberis, is there a reconstruction permit?, or is there a government board that issue/regulate those construction permits?, maybe there are companies that arrange those things for people..!?
Yes governments institutions are the ones that issue the permits to build. usually is the engineer that is doing your construction in charge to summit the documents need it to get the permits. I personally I do not know any private company that do arrange that for people. But I'm sure you can pay someone to help you with that process.
@@NorberisR thank you very much 👍
Curious why you didn’t mention Las Terranas …?
oops I just forgot to mention it, Las Terrenas is a great place for business too.
That will be in another video 😎👏
Hi Norberis, I’m looking to buy land what sites do you recommend.
Do you have any particular city in mind? but I usually will check corotos.com, mercadolibre.com.do, encuentra24.com.do.
@@NorberisR thanks for your recommendations and yes I have a region in mind
Would You allow a sublease?
Sublease where?
Hello Norberis, can you tell me approximately how much it cost for building plans from an architect or engineer?
Depending on what you trying to build. What are you trying to build?
@@NorberisR Hey, thanks for your prompt response. A building consisting of 6 apartments, all 3br 2ba approx 100 sq mtr each.
If my question requires a consultation fee, just let me know! I don't have a problem with that! Thanks!
No consultation fee required Somehow I missed this message. However, for a full design the cost will be $3,500 USD. This includes a the design to build, for example plumbing, electrical, floor plan, architectural designs, ect.
@@NorberisR Thanks, your an angel.
Hi my question is how to pay rent if you are in US ? When we visited went to open bank account but they said to wait 10 days since we used someone's adress now we have a Lease do you think we still have to wait 10 days ??
Yes you still have to wait, even if you a have an address that is the waiting process for foreigners to open a bank account here depending on the bank. But you can go back to the same back they may let you open the account if they already did the verification process. How long ago was that and which bank.
🙂
Hi currently looking for an apartment in Punta Cana for Airbnb know any good realtors ?
Unfortunately, I don't know of any realtors in Punta Cana, sorry.
Una pregunta cómo puedo contactarte
Hola me puedes mandar un email at norberis@norberisr.com
But how hard is it to find someone to sublease to and actually make a profit
Because if it’s let’s say $850 for a fully furnished apartment like how can you make a profit when people barely make that in a year there.
First people make more than $850 a year not sure where you're getting your information from. All Dominicans are not poor. That's a big misconception. However, you rent your place to people who can afford it. Same way they sell million dollar homes in Miami, LA, etc are they marketing to people who work fast food? They market to people who can afford it. Same concept.
@@NorberisR by no means meant for it to come off like that. I know not all Dominicans are poor so i apologize. Just was trying to gain some clarity from what I’ve heard from the workers at the resorts and in areas like Los Alcarrizos.
Meant month by the way and not year again i apologize.
@@jalenboyd8141 I agree wages for the average worker is low and couldn't afford this type of rent. However, there are Dominicans who can and there are foreigners who can. Just like my husband and I we pay more than $850 per month. So you market to people that can afford it. If you place is nice you would not have a hard time renting it out or Airbnb.
I wanna open up a bar in Santo Domingo
That is not a bad idea. We love to drink😅.
@@NorberisR Hey how much does it cost to open one up in Santa Domingo
@@NorberisR Hey how much does it cost to open one up in Santa Domingo
@@andretownsel2989 that depends a lot of factor if you renting or buying. The location
Looking to join in the investing
Hello, how can I contact you?
By email norberis@norberisr.com
Where can I find apartments to rent that I would be able to sublease?
You can check a website like corotos.com.do