How was Paradise Living born?
JD: Well, like many things in life, it was born out of necessity. As marketers with many years of experience, it’s in our nature to be curious and seek out better solutions. Having lived in the US for about 21 years, I’ve always heard people express their dream of returning home, buying a house, etc. Or just outsiders expressing their interest in investing or even retiring in the Caribbean, specifically in the Dominican Republic. This was the spark that ignited it all.
What’s your background? You mentioned you’re a marketer.
JD: Yes, that is correct. Marketing and advertising have been my industries for 25+ years. I think I know what your next question will be (Laughs) – what’s a guy from marketing and design doing in the real estate business? Well, as I mentioned before, in marketing and advertising, I learned many things; one of them is that no matter how creative you are in convincing people to buy a product, in this case, a property, if you don’t deliver the right product at the end, it’s just time and money wasted. Many real estate companies simply think about closing that one deal, regardless of whether or not it’s the right fit for their client’s needs. At PL, we’re not in the business of closing deals; we’re in the business of providing our clients with the guidance to get that property that fits all their needs. Even those things the client hasn’t thought about, we do. Just to give you an example, a couple came to me a few months ago asking to find them a beautiful house on top of a mountain overlooking the ocean. I asked them why they chose that as their dream location, and their response was simple— they saw a similar house from the road (Laughs). You’d be surprised how many buyers have these dreams without thinking about the logistics. Anyway, we went to work, showed them a few options, but then we needed to explain a few things they probably hadn’t thought about— how long it would take to get to the nearest hospital, how to get groceries there, how difficult it would be for trucks to come up if they wanted to build something, etc. They looked at each other, not knowing what to say. That’s when the marketer in me comes in handy. Throughout my career, I’ve learned it’s your responsibility to hear your client but also protect them from themselves. It’s our job to provide a service but also to protect their investment. We don’t want them to go through the process and in six months be banging their heads against the wall because those questions were never asked or answered.
“We’re not in the business of closing deals” sounds counterproductive for a business, doesn’t it?
JD: It may sound that way in the traditional business model, but in the digital and social media era, it’s not. Twenty years ago, you could scam people with some blueprints, take their money, and just disappear, then repeat the process under a different name. Now, people talk, they communicate, and they share. We want our clients to speak for us based on the results they’ve achieved. That’s why I make sure my team understands that our clients are our best ambassadors. Treat them with respect and care, and they will return with their families, friends, etc. So yes, we’re not in the business of closing one deal; we’re in the business of creating long-lasting relationships.
How do you want Paradise Living to be recognized 5 years from now?
JD: As the first company that shifted the way we buy properties. that’s why we don’t call ourselves “Real Estate Agents”; we are Real Estate Consultants. We want clients to know that by the time we start the actual showing of properties, we will know EVERYTHING about the properties they’re about to see and the life they want to have in that property. If we’re showing it to you, it’s because we did our due diligence to ensure your investment is protected and that there are no regrets in the future.
What do you want people to know about our country?
JD: Oh, the warmth of our people, the food, the music, our beautiful beaches, rivers, and mountains. I can go on and on, and it’s all true, but that covers the emotional part. On the rational side of things, I just think most people are not aware of what a tremendous investment opportunity this is. From that point of view, I can name a few:
- How quickly your home appreciates: We’re a developing country, and new international airports are built frequently, making it easy to access the island from everywhere.
- The investment potential: The Dominican Republic’s tourism industry is thriving, with millions of visitors each year. This creates opportunities for property owners to generate rental income through vacation rentals or long-term leases. Additionally, property values in popular tourist areas appreciate quickly over time.
- All the tax incentives: The Dominican Republic offers tax incentives for real estate investors, including exemptions on property taxes for new construction projects and incentives for tourism-related investments. These incentives can help reduce the overall tax burden for property owners.
- The offering of residency and citizenship for foreign investors: Purchasing property in the Dominican Republic can also open doors to residency and citizenship options. For example, foreign investors who meet certain criteria may qualify for residency through the country’s investor visa program, which can provide access to benefits such as tax breaks and healthcare.
- The currency exchange advantage: For foreign investors, fluctuations in currency exchange rates can sometimes work in their favor when buying property in the Dominican Republic. A favorable exchange rate can result in lower costs for buyers purchasing property with foreign currency.
How do you see the real estate market in the Dominican Republic compared to the US?
JD: I think the challenges the US market is experiencing are no secret: the lack of inventory, high prices, high interest rates, plus what is called our new normal or remote working have had a huge impact on everything we know. More and more people are opting for suburban and rural areas over urban centers. What we offer here is the capacity to have the island life at a better price, better location, and with all the perks the Caribbean has to offer.
How do you compare to other Real Estate Companies/Agents in the DR?
JD: (Laughs) we don’t like to compare to anybody. Now, if you ask me how we differentiate from other similar services, then I can tell you that we’re willing to go further than others to provide a more secure and holistic approach. Trust me, there are many Real Estate Agents in the market, or at least that’s how they like to call themselves, but the reality is not many people want to go the distance. For example, I worked with an individual in the purchase of a property that was at the initial stages of construction a few years ago. Before the contract was signed, it was all perfect: super responsive, attentive, professional. But when things started to get delayed, and the delivery was pushed back multiple times, I reached out to her looking for answers. Guess what? No emails, messages, or phone calls answered. That’s not what we do. Like I said before, we’re not here just to close a deal but to make sure you get what you paid for and that your questions are answered. The process is over when you get the keys to your property. Period.
What are the challenges you think current real estate companies or agents are facing currently?
JD: I think one of the main challenges is concentrating on the low-hanging fruit. I don’t want to throw shade on anybody, but I think there’s an overpopulation of Real Estate Agents in our industry. I guess selling real estate has become trendy, but most agents don’t educate themselves enough about what they’re selling. At the end of the day, we’re here to do better. We’re concentrating on the top and seeing how far up we can keep going.
What advice do you have for buyers from another country?
JD: Umm, that’s a good question. I think the main piece of advice I can offer is to look for the right person to guide you on this journey. I think sometimes people fall in love with the idea of living on a tropical island and don’t consider other elements besides that dream they had. I see many videos now of other countries like Italy, Portugal, etc. offering properties at $10,000 dollars for a piece of Italy in a small, charming town. In concept, it looks amazing, almost like a movie. But the reality is, most of those properties are in isolated places, towns where the nearest hospital is 2 hours away, no airport in sight, etc. Like I said before, we are here at PL to guide our customers and to make sure we think about the things they’re not thinking about. In short, and to answer your question, your first challenge is not to find the property, but the person that will help you find it.
How has the ride been so far?
JD: As expected, rocky (Laughs), but that’s what happens when you’re trying to change things. Some opposition here and there, a bit of excitement from others. But in the end, I believe the players that are stepping up their game are the ones who are going to survive. In short, what we want is to set the bar as high as we can, and those who appreciate and understand our philosophy are the ones we want to work with. We believe this effort will bring the industry to a new standard, and those that are not committed will disappear.
