All Forum Posts by: Aaron T.

Originally posted by @Scott Garber:

What is CRIM by the way.....I'm assuming it is obtaining abandoned properties inexpensively?

 The Centro de Recaudación de Ingresos Municipales (CRIM) is the office on the island that deals with real estate docs, assessments, taxes, etc... 

nothing ever happens fast at the CRIM. bring a lunch and your patients.

usually furniture expected to last more than a year will be a fixed asset in QB and depreciated over its life cycle (IRS Pub 527). all the other decorations will be regular expenses and usually written off the same year. 

Originally posted by @Franky Aikens:

@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.

I find those that require agreements are not good at their jobs. Then it makes it harder to fire them. For those that are going to get you want you want and need, they dont need an agreement, because they will deliver the goods. 

if you are from COS, check out the real estate meet up on Tuesdays at third space coffee. I believe they are on the 1st and 3rd Tuesdays. 

unfortunately, 200k in Tampa will get you a multifamily property in a undesirable area.  

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. 

we try and buy used for 30 days before a property goes in service, but if we can't find like new pieces in that time frame, then we buy new. a 3/2 costs around 12-13k to furnish

Originally posted by @Damon Miller:

@Nayt Grochowski, I realize this is an old thread but I was wondering if there is anything I can do to get a copy of that VRBO Google doc. I have one SFR and I'm looking into getting a VRBO property in North Padre Island Texas. I live within 3 miles of the property so my wife and I will be managing it ourselves. It all seems great but the VRBO aspect is making me nervous. Anything is greatly appreciated.

Damon

the rental property calc on here will do the same thing.

Originally posted by @Jeivan Casto:

Hello everyone, im new here but I just acquired a 3/2 flat in Puerto Rico. Any suggestions on how rent or air bnb rates go over there or how should I approach this?

 start taking a look at other similar properties in your area. i.e. bedrooms, how many it sleeps, is it a house/condo/etc, location. all this will help as a reference point to start.