Wholesaler · Philadelphia, PA · Member since 2016 · 124 posts · 81 votes
I know the island has a myriad of economic issues they may not be resolved any time soon but is it possible that those same issues are opening up investment opportunities? At least in certain areas? Price points are low. It's a US territory so it might not be considered speculative to anticipate a rebound in the future. Wouldn't it be a good time to take a carefully vetted position?
Interested to know if anyone is invested there or at least considering it.
Developer · Aguada, PR · Member since 2014 · 927 posts · 278 votes
6y
not all prices are low on the island. where you will make money in the STR market, the prices will be up.
we are contracted on a property now on the west side. expect 30-60+ days to close. nothing happens fast down there and finding good people to help are sometimes hard to find.
Wholesaler · Philadelphia, PA · Member since 2016 · 124 posts · 81 votes
6y
@Aaron T. . Thanks for replying Aaron. How did you find this property and are you working with a real estate professional down there? I figured that transactions down there don't move as fast as they do on the mainland. Is this property you have under contract intended to be for STR?
@Aaron T. . Thanks for replying Aaron. How did you find this property and are you working with a real estate professional down there? I figured that transactions down there don't move as fast as they do on the mainland. Is this property you have under contract intended to be for STR?
@Franky, we found the property and are working through the builder. Bank financing is normally ready in 30 days, but it takes roughly another 30 days to get the city to stamp off all the other documentation.