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All Forum Posts by: Aaron T.

Aaron T. has started 43 posts and replied 772 times.

Post: Buying a house in Puerto Rico and renting it out.

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278

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.

Post: Is 12% COC reasonable in the greater Tampa Bay, FL area?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278

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.

Post: STR Taxed as Business = 29% New Bill In Colorado Anyone Know ?

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278

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. 

Post: Colorado springs market mayhem

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278

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. 

Post: Puerto Rico Investing

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278
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. 

Post: looking to cash out refi my duplex- Quicken loans

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278
Originally posted by @Kamil Nicalek:

Let me know what happens I’m in the process of doing the same ...

 sounds good. the property has gone up in value over the past 5 years, so its time to pull out some of the equity and dump it into a new cash flowing rental. 

Post: looking to cash out refi my duplex- Quicken loans

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278
Originally posted by @Melvin List:

What is the property worth?

 right around $500k

Post: looking to cash out refi my duplex- Quicken loans

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278
Originally posted by @Melvin List:

@Aaron T. I would get another quote!

 Yes, that is what i was thinking. i used quicken because they say they are friendly to AIRBNB income. i am in the process of working with another broker to shop the product around. 

Post: Short Term Rental Insurance Providers in St Petersburg Florida

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278
I think we use proper insurance or loyds of London. I cant remember which or maybe both.

Post: quickbooks receipt scanner alternative (free)

Aaron T.
Posted
  • Developer
  • Aguada, PR
  • Posts 921
  • Votes 278

I had a snapscan scanner and loved how easy it was, however it did not have the TIWAN file, so we could not use it to upload into quickbooks. I am looking for a small receipt scanner that will work with quickbooks.