Real Estate Investor · Wheat Ridge, CO · Member since 2015 · 36 posts · 2 votes
Hi!
I am currently looking and exploring opportunities in Puerto Rico - and would LOVE to speak to fellow people currently living in PR or the Caribbean - or those who are knowledgable.
What's the market like for rentals, buy and hold? Flips? Redevelopments? I know the economy isn't the best right now - but looking to see what others think and are experiencing...
Investor · Cabo Rojo, Puerto Rico · Member since 2015 · 95 posts · 53 votes
11y
Hi Everyone! I currently own 30 vacation rentals in Puerto Rico and lived there for some time. Please reach out to me, I would love to connect with anyone wanting to get started in the vacation rental business.
Investor · Central America, Panama · Member since 2010 · 423 posts · 293 votes
11y
I live in Panama so I don't know about the investment opportunities in PR but I do know there are some incredible TAX ADVANTAGES for investing in Puerto Rico, like
And business owners can reduce their corporate income tax rate, which in many cases runs around 50% in the US (combined state and federal income tax) to just 4% (Act 20). That’s an over 90% reduction.
Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
11y
There is a member selling turnkey investment ins PR for 10% down contact (marketplace)
Kira Golden I have no relationship or interest hope this helps
I am a veteran real estate investor with experience in multiple market places and asset classes. We have recently completed development of 30 unit Turn Key Vacation rental Project in Puerto Rico. We can assist in financing for a little at 15% down. 25k can have you the proud owner of a cash flowing Vacation Rental.
Investor · Columbus, OH · Member since 2014 · 63 posts · 14 votes
11y
Hi All! I actually spoke with @Kira Golden yesterday (connected via BP) - she and her husband are doing some cool things down there and may have some opportunities for anyone looking to get into the market.
Commercial Real Estate Agent · Tulum, Quintana Roo · Member since 2014 · 37 posts · 12 votes
11y
I live and invest in the Mexican Caribbean, in Tulum. Here the opportunities are incredible. Real estate prices grow two times every year, the value is increasing constantly and there is a guaranteed investment from vacation or long term rentals. Of course, as everywhere in the Caribbean, things move at a slower pace, and it is important to spend some time here first getting to know all the right people and to fully understand how the system works.
Investor · Des Moines, IA · Member since 2015 · 380 posts · 201 votes
11y
I'm heading down to PR(staying in a VRBO) for my second visit next month and am looking for a vacation rental while I'm down there. Hoping to hook up with a property manager. I really like the eastern Palmas Del Mar with it's location to some of the eastern islands but the pricing is higher there.
Investor · Cabo Rojo, Puerto Rico · Member since 2015 · 95 posts · 53 votes
11y
Hi Everyone! I currently own 30 vacation rentals in Puerto Rico and lived there for some time. Please reach out to me, I would love to connect with anyone wanting to get started in the vacation rental business.
I live and invest in the Mexican Caribbean, in Tulum. Here the opportunities are incredible. Real estate prices grow two times every year, the value is increasing constantly and there is a guaranteed investment from vacation or long term rentals. Of course, as everywhere in the Caribbean, things move at a slower pace, and it is important to spend some time here first getting to know all the right people and to fully understand how the system works.
Rental Property Investor · Gainesville, FL · Member since 2015 · 1k+ posts · 432 votes
10y
Kira Golden
Hi
I'm vacationing in PR with a friend who is from here and still has family in Camuy.
I'm interested in San Juan area there about for vacation rentals.
I'd love to here about your experience and where to start.
Thanks
New York, NY · Member since 2016 · 1 post · 0 votes
10y
Hi eveybody,
Im looking to get some professional advice on buying and renting and the tax laws i will encounter. I am going to be closing on a property in the next thirty days. Does anyone know of some people in the San Juan area or otherwise in PR, who will be able to help or point me in the right direction.
Worcester, MA · Member since 2016 · 1 post · 0 votes
10y
Victor Chico
I've noticed your experience/profession in real estate in PR. My wife is from Caguas but we reside in Worcester, MA. Question I have is how difficult it would be to purchase a home while still being a resident of MA and not PR? If the process is the same for financing (Mortgage) as it is for purchasing a home here? Very curious and looking for some help before we possibly start giving hope to purchasing one this a year?
Thank You
Realtor · Vero Beach, FL · Member since 2016 · 72 posts · 18 votes
9y
As @ Jackie Lange said:
With the Tax Incentives giving to those that qualify is a great opportunity to relocate your business & also to invest. You could pay as to just 4 % of corporate tax & with ZERO Capital gains. There's different options depending on your business.
I'm just a Real Estate Agent but if interested more about the Law I would gladly connect you with the right person.
I live in Panama so I don't know about the investment opportunities in PR but I do know there are some incredible TAX ADVANTAGES for investing in Puerto Rico, like
And business owners can reduce their corporate income tax rate, which in many cases runs around 50% in the US (combined state and federal income tax) to just 4% (Act 20). That’s an over 90% reduction.
Investor · Oakley, CA · Member since 2015 · 10 posts · 5 votes
9y
Hi Kira Golden, I'm very interested in investing in a vacation rental in PR I have been out there three times in the last year we have friends that moved there last year. The area I'm interested in and did airbnb was Condado which really doing well. Really high end close to old town.
El Paso, TX · Member since 2017 · 4 posts · 0 votes
9y
PR is rather unique for the US. I suggest anyone who isn't familiar with the area but is interested in the area to get boots on the ground before getting too committed to an idea. You'll be able to gauge things much more effectively after having been there and seeing the ways things work differently from the mainland.
While many states are largely similar to each other and one can make certain assumptions that will usually be true, that's simply not the case with PR. You gotta find out the differences for yourself.
Real Estate Attorney · Manhattan, NY · Member since 2014 · 129 posts · 106 votes
9y
Alexander Castro
The4% tax is a bit misleading because you must employ 5 full time qualified employees that are residents of Puerto Rico plus have a bonafide office approved by the government
So when you route one million in income to reduce your tax to 4% you are faced with:
5 FT salaries at a minimum of $40k total cost which would be $200k +- additional per year and a boba for office costing an absolute minimum of $2k a month which is another $24k
The the 4% would be on the tensing net which would be another $26k or so
On one million incone routed through PR to take advantage of the incentive your true cost would be 25 to 30% and not 4%
Obviously if you are trying to route less than one million, it would not make too much sense
The solution is what I did, I joined an exiting structure and my flat rate is 15% tax liability no matter how little or how much I expense
Private messenger me and I will put you in touch with the attorneys firm that handles it in PR all turnkey for $7k flat fee
Best thing I have ever done because I was paying 40% in NY and I am a tax expert!
Realtor · Vero Beach, FL · Member since 2016 · 72 posts · 18 votes
9y
That's Great Pat Marco if is working for you. I'm a Real Estate Agent in Puerto Rico & I just work with customers that are interested in Investing/Relocating and do refer them to a Tax Specialist for the Tax Act Law. FYI, you just need at least 3 people and you don't need to have a 40k each salary employees.
Lender · Camuy, Puerto Rico · Member since 2016 · 56 posts · 52 votes
7y
Short term rental is still the dominating force here in PR, but depending on the town, there is a market for long term as well. Multi family properties in the metro areas are prime. Soon too i feel we will start to see more REOs pop up as the Maria HUD funds become available (ill be posting more about these funds and the indirect benefits for investors once they are actually available for new buyers).