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The real-estate and business for sale is called Hooked Cabarete.
Check out Hooked on TripAdvisor and look at the website to get a first impression of Hooked.
Hooked is the accommodation closest to the world-class surf spot called Playa distance is 500m. There are no beachfront hotels or villas in Encuentro. It is a pristine and protected nature preserve.
Hooked caters to surfers, kites and other active adults worldwide. The business model is simple. Offer clean save and fun accommodations but no food or frills. Most customers are from Europe and North America.
About $600K of the assets for sale are directly related to the business. The rest are related to the Penthouse and to personal assets that are offered for sale such as cars, furniture etc.
The business has been solidly profitable for the last 7 years.
The owners are willing to guarantee an agreed upon level of profit for the first 3 years after the sale, because audited financial statements are not available in the DR.
Mortgages are not available in the DR. Therefore about half the asking price of $890'000 would need to be paid in cash at closing. The owners can personally finance the rest but you would need tangible asset to secure the note. Cash buyers are offered a discount of $100'000.
Hooked is not an ideal investment for pure financial investors that do not plan to move here and run Hooked. Such investors could not benefit from living in the penthouse of Hooked and of starting a new live in the tropics, learn a new language and escaping the corporate rat race.
The business is ideal for a couple where at least one partner is handy and practical and the other has marketing, IT and social media skills. Both must love people and enjoy the outdoors and the tropics.
The owners cost of living her is about $10K since there is no rent, no personal income taxes, cheap food and drinks and very little clothing cost.
The owners are Swiss by birth but have lived mostly in the USA. They are US citizens and have lived in Connecticut for 25 years prior to selling their business and moving to the DR.
If after reading this you are still interested to pursue this matter please contact the owner to obtain more info incl. financials.
Real Property Included
170 sqm penthouse apartment with 3 bedrooms and two full baths for owner
Playa Encuentro, 500 m from the best surf break in the Caribbean and 3 km from Kitebeach
8 studio apartments located in tropical garden with pool
Owners Penthouse on first floor of main building
yes, has a deslinde title, the strongest legal protection available
add 3-5 more apartments on adjacent lot to increase high season revenue
Surfbreak Cabarete, El Encuentro Surf Lodge
age of owners (73)
as much as requested by future owner
1/3rd of asking price if buyer has collateral to secure loan
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