All Forum Posts by: Aaron T.

Originally posted by @Jon Crosby:

@Aaron T.  I think I see the gist of your dilemma. 

Perhaps you can leverage something like this to get the transmitter to emulate via a mobile app (assuming there is a product that works with the gate system and the HOA approves).

You could then open the gate for the guests on their arrival remotely and once they are checked-in they can just use the regular transmitter during their stay (same as if they had a garage door opener in a SFH).

https://www.amazon.com/Wireles...

Jon, thanks. I like this idea, but i dont think it would work to have guests download the app. I would not want to have to let them in, as i am in Colorado and this unit is in Puerto Rico. I believe i found a place i can put an oversized key box secured outside the gate. I may be leave the remote in there.

Originally posted by @Michael Baum:

Hey @Aaron T., frankly I have never see this kind of access. I am not even sure what it is. Correct me if I am wrong, there is no keypad to open the gate. There is a remote like a garage door opener to open the gate?

Will this place have permanent residents? Maybe a retiree? It could be possible that you could work something out with a resident to open the gate and be a contact for guests.

Pay them some dough monthly to handle that job.

None of these options work. We run a professional automated STR set up. in this case, i want our guests to have self check in without anyone else involved. there are 20 units, i am assuming all will be sold to investors like myself.

ALL, this is in Puerto Rico. there will never be a manned gate or they change how they do business. this would be ok if there was a pedestrian gate, so they can punch in and get the transmitter from the condo, but they don't. we have asked to put a concrete piller out front, where there can be a lockbox or some way to retrieve the transmitter. i was hoping someone came up with a cool solution to this. i know i am not the only one that has come across this before.

this is a new small (20) beach bungalow community. there is an auto gate that has a transmitter, but no pedestrian gate or manned security. Yes they are STR friendly, but they have not thought ahead about the STR crowd and logistics.

how do you handle entry procedure for your STR in a gated community? I am under contract to buy a unit behind a vehicle gate in a gated community. do you meet your guest there? have you found a technology solution?

Luis,

you can't use VA loan to rent it out. the VA means you need owner occupy.

second, if you are looking for long term rental, you need to look at the job market in PR. 60% of people are on state assistance and not working. So if you buy it to rent, then will you find someone who is working and able to pay monthly. this is a big problem in PR. 

as far as natural disasters, there are summer storms (hurricanes) and right now we are dealing with earth quakes in Southern PR near the Ponce area. However these aftershocks can be felt all over the island. Although they can be felt, they are not currently destructive outside the Southern area. 

If I were you, I would meet up with local investors and like minded people in your area. it will help develop out your plan.

COC will be tough, but if you take into account all the rest of the numbers and benefits, then it makes a still a decent investment.

Investors will take their money somewhere else. good luck CO. I was going to buy a second property in COS, but the city or state reducing the exit strategies, its not worth it to me. 

When inventories are low, its a sellers market, and then the prices end up artificially inflated. You have to search out the deals until inventory comes back on line. Tampa suffered the same problem over the last several years. They are just catching up over the past year. properties are sitting on market longer, and you will see price reductions. that is a good indicator that supply is coming back. 

Originally posted by @Justin Ceballos:

@Aaron T.

One is down for a serious 3motnh rehab and the other is just under 40%. I have friends that are in the 80's the more you move west. 

How much time have you spent on the island?

 I am down there 3-4 times a year visiting family. My wife is down there now looking at places.