All Forum Posts by: Aaron T.
Aaron T. has started 43 posts and replied 772 times.
Post: Puerto Rico - Opportunity?
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Originally posted by @Alexander Castro:
Originally posted by @Roberto Torres:
@Alexander Castro You do have to be careful in what you invest though, market has seen dramatic raises in price recently in some areas and since most puertoricans live below poverty line, cashflow for long term rent can be extremely low. I do concur that the island is beautiful, but it's not so easy to find worthwhile deals.
Of course! I've worked all the island. You just need some contacts to help you find what you're looking for. I know the territory and it's really hard to find agents that work with investors because they have been burned out before and because of this, some may charge a fee (we don't). The other day an agent wanted me to help her because after 11 attempts she couldn't get in touch with any local agent.
I say it all the time, "if you want to be successful in PR, all you have to do is answer the phone"
Post: Puerto Rico Investing
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Originally posted by @Alexander Castro:
Originally posted by @Aaron T.:
Originally posted by @Alexander Castro:
Puerto Rico will always be a tourist area to visit and whatever the situation they may encounter, the streets are full of tourist. In my opinion investing near or 10 minutes away from the Ocean is an A+.
That is the great thing about PR. you can invest 10-15 minutes from the beach and be in the mountain. IF you can find one with a great view, even better for monthly income.
the bad part is that monthly rentals means finding someone with a steady job to cover rent. Right now that is something residents are struggling with. This is why the BNB market is so big at the moment.
It all depends but it can be true! Do you have any connections in Puerto Rico? You can focus on relocation or Airbnbs
Yes, we are connected in PR. We have BNBs there and a great team in place.
Post: Airbnb in Puerto Rico during Covid
- Developer
- Aguada, PR
- Posts 921
- Votes 278
We rent on the west side and doing great. Rates are where they should be and most of our bookings come from Airbnb or booking.com.
we have not have any vrbo guests yet.
Post: Anyone here in Puerto Rico?
- Developer
- Aguada, PR
- Posts 921
- Votes 278
We are not living down there yet, but we will be by the end of 2021. We have property on the island and are down there 4-5 times a year.
Post: Puerto Rico investments
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Originally posted by @Lance Jorgenson:
I have bought a property in the Dominican Republic it has been a challenge to coordinate people when you are not there and getting them to understand my plans I would say it never will be a good investment I did it more to have a vacation property where my wife is from. It currently has small Commercial rental space and with 5 completed 2 bedroom apartments and 1 2 bedroom that is not complete. I don't feel it was a good investment for money wise learned alot.
Lance,
we are very interested in getting down to the DR market. mostly the tourists areas to have a vacation rental. DR is a fun place, but much like anywhere else in the carib or latin America, it can be a bear to get any business done.
Post: Puerto Rico investments
- Developer
- Aguada, PR
- Posts 921
- Votes 278
San Juan is good because it has the people and money. The only drawback is that it is also twice as expensive as the other parts of the island.
in 3-6 months, take a trip down there for a couple weeks. feel it out and see if you will even like it. PR is not for everyone.
Post: Looking for a good contractor in Puerto Rico
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Luis,
let me know if you find any good ones. I am looking for a pool contractor and a general contractor to put a roof over a social event area. COVID and curfews are making everything that much more difficult.
Post: Is Real Estate Wholesaling legal in Puerto Rico?
- Developer
- Aguada, PR
- Posts 921
- Votes 278
I have not looked much into wholesaling in PR, but it has the potential to be a tough market, due to how slow all the paperwork moves, and properties tend to sit not he market for months or years, so making sure you had a buyer in hand would be crucial .
If you sort it out or have any luck, keep in touch, I would be interested in hearing more.
Post: THINKING OF BUYING A FIX AND FLIP PROPERTY
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Originally posted by @Sebastian Garcia:
@Aaron T. Thanks for the info Aaron, thought of that and I’m thinking of just waiting till next year for things to “cool down” a bit. Don’t want to wait but it is what it is
We just did a bnb property in Jul-Aug. it was miserable trying to close, it took forever. also supplies and inventory to furnish were next to nothing. Plus waiting in line at Home Depot daily was a chore.
we are under contract for another property on the west side, and I am not looking forward to trying to get this ready with all the current restrictions.
Post: THINKING OF BUYING A FIX AND FLIP PROPERTY
- Developer
- Aguada, PR
- Posts 921
- Votes 278
dont underestimate the 1. time it takes to get ANYTHING done in PR. add COVID to that and its next to impossible. 2. finding anyone reliable to work is also tough. 3. everyone has their hand out for money, although cash offer, San Juan will bleed you dry in fees. 4. you will need a lawyer to buy or sell anything to include a Kit Kat bar in PR.
With that said, sounds like a fun project and if you get to spend any time down there (outside covid) you will have a great time.