All Forum Posts by: Aaron T.
Aaron T. has started 43 posts and replied 772 times.
Post: Seeking Advice on First Investment Property in Puerto Rico — Exploring HELOC & TSP
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Quote from @Jeremy Erazo:
Hi everyone,
I’m a resident of Puerto Rico looking to acquire my first investment property on the island. I currently own my primary residence, and fortunately, its value has appreciated by around $70,000 to $80,000 since I purchased it.
At the moment, I don't have the liquid capital to cover a down payment, so I'm exploring alternative funding options. I've recently learned about the possibility of using a HELOC, and I'm also a federal employee with available funds in my TSP (Thrift Savings Plan). I understand it's possible to take out a loan from the TSP for this purpose, and I'm considering that route as well.
I would greatly appreciate any advice on how to start moving forward — whether it’s about financing strategies, choosing the right type of property, or connecting with professionals who have experience investing in Puerto Rico. If anyone here has gone through a similar journey, especially in PR, I’d love to hear your insights.
Thank you in advance for any guidance you can provide!
Yes, you can take out a loan on your TSP. log in an go to the loan section and its a small fee and interest back to you each month the loan is out. If you are a Civil service and in uniform you can take out a loan on each.
HELOC is not really a thing on the island, you may find private money to do it, but its limited to nonexistent with the banks or COOPs.
Another option is a VA loan if you served in uniform at any time. a VA loan will pay for a 1-4 unit with no money down.
Post: Looking for a rockstar real state agent in the southern area of Puerto Rico
- Developer
- Aguada, PR
- Posts 921
- Votes 278
This is a good idea. up to 4 units, no money down. realtors are hit and miss on the island. look at classificados online and see the realtors on there and see who is selling. unfortunately each realtor has their own listings and not really a MLS like you see in the US.
Post: Looking for STR Property Management in South Tampa
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Quote from @Brandon Weis:
A family friend recently bought a condo in South Tampa and would like to run an Airbnb when they are not there. They are looking for a property management company in the area interested in taking it on. If anyone has any contacts, please pass them along!
Shoot us a message. 813-410-1437
Www.stayriserentals.com
Post: Island Territory R.E. Analysis
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Quote from @Jose A. Figueroa-Seary:
Does BP provides R.E. market analysis for U.S. Territories? I'm trying to learn how to invest in Puerto Rico and it would be great if BP provided an in depth analysis of the market here. The STR is still booming in many coastal municipalities but there are also opportunities for Fix n Flips. Most of the construction workforce came from the Dominican Republic but they are now in hiding due to ICE immigration raids. From what I have been able to find, auctions laws require 100% of the funds to win the bids, this limits the pool of participants to those with big pockets of cash. BP, please send some experts here for a couple of weeks to do the needed analysis. Thanks.
We live in Puerto Rico and what you state is not the reality on the island.
The STR market is not booming, but over saturated.
Yes, there is an opportunity for fix and flip, but unless you find the right deal the market prices are out of control. Not much meat on the bone.
Nobody in PR is hiding from ICE. In ten years of the island, I have yet to run into Dominican workers. Anyone who works for us are locals.
Post: Looking for a lender in Puerto Rico
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Quote from @Quinton Brown:
I do investment loans in puerto rico.
Do you make loans for laundromats or self storage in PR?
Post: Advice required, Should I Pray or Prey, looking to broaden my thoughts.
- Developer
- Aguada, PR
- Posts 921
- Votes 278
unfortunately everything in Puerto Rico moves at a sloths pace. At times, its good to going back to steady earned income to get that capital back in. if not, then like Chris says above, find a partner to go into the deal with you until complete.
Where you at on the island? can you share pics of your journey. would love to see what you have going on.
Post: STR in Puerto Rico
- Developer
- Aguada, PR
- Posts 921
- Votes 278
try point2point or classificados in the area you want to buy. that will help get you names of active Realtors of that area.
Post: DSCR details needed
- Developer
- Aguada, PR
- Posts 921
- Votes 278
If you dont plan to use any of the tax incentives, then just get a drivers license here, no residency required. We keep our home state drivers licenses, because anything on the island is 10X more difficult.
DSCRs will more than likely come from other investors here, as the island is 100years behind the times on traditional financing. good luck with future endeavors down here.
Post: STR in Puerto Rico
- Developer
- Aguada, PR
- Posts 921
- Votes 278
Nice property. $155k, when did you buy? We are not buying much anymore in PR due to the high prices now.
Post: STR in Puerto Rico
- Developer
- Aguada, PR
- Posts 921
- Votes 278
There are plenty to chose from depending on your local area you are looking to invest. if you never been to PR or lived here, I would suggest coming to live here 6 months before investing here. This is not for the passive investor or the investor who thinks this is easy money.