Buying a tiny 1bed ON the beach in Condado. Income comes in between 30 to 40k a year. Have someone onsite i will pay 20% to manage air bnb rentals. purchase price was Under 200k. They are rebuilding the island like crazy and only see appreciation rising
If Anyone has any intel on Condado PR and air bnb vacancy rates and appreciation please feel free to chime in! Very excited about this, not only to cover costs and maybe make a little $$% but most of all to block dates and visit!
@Mike S. hey mike investor and agent from San Juan, Puerto Rico. They are NOT rebuilding the island like crazy... there is plan to have aid money come in for some repair construction but I wouldn't bet on any appreciation any time sooner than 5-10+ years. R u sure they let airbnb on the condo u just bought? PR, especially san juan, is starting to regulate AIRBNB and it will be a shame if u only ran ur numbers counting on it. Check airDNA for vacancy rates, it's a useful website. 200k sounds a bit high for a 1 bedroom and those returns. Can u put initial cash, cashflow and ROI?
Let me know any other questions, feel free to pm me, will help u out as much as I can. Hope everything goes well
@Roberto Torres Muchas Gracias! Yes completely basing it on Air Bnb numbers. 100% sure the building allows for it (attorney checked) and has a clause in the master deed/by laws that seem to never be able to change it BUT you have a very good point what if AirBNB restrics it or city "Zoning" restricts it, how could one find out about this? Even if air bnb restricts wouldnt one just use another similar service. Air Bnd charged the 7% tax to the tenants there in San Juan id guess thatd also help that fight to keep the area?
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