All Forum Posts by: Amy Conn

@Victor Chico:

I am hoping to get some clarity on the PR situation for investment. My husband is getting cold feet on buying a vacation/investment property in the next year that we would like to live in eat least 6 months of the year to get the tax breaks. I see the terrible news as a way to get better discounts on beach properties we could never afford in Hawaii. 

That said, I do have a teen son's safety to consider and a chance at 'making' my husband lose money if the island goes down even more. Is the crime rampant in the Western part of PR, near Rincon and Isabela? It seemed pretty awesome on my brief visit at Christmas, not that I would leave my posessions sitting out. My husband is also worried about the mosquito diseases and the hot, non-surfing summers. 

Thank you in advance!

I am very impressed with the advice I get on Bigger Pockets, so thank you. 

Guess it's not cut-and-dried, so I am right to wonder if it is worth it. 

We'd love Hawaii, but who can afford that? Plus, it's so far from my family, and so isolated. 

Mountains and warm, clear water; plus surfing, whale watching, and sea turtles? I doubt there are any states that match that description besides Hawaii. So... we are considering PR. 

The USVI seem expensive for what you get. Might as well end up in Hawaii?

Do you advise....

Buying a sibling out, peeling wallpaper, painting, changing counter tops and appliances, new carpet, new fixtures? This is in CA, one acre lot and big, solid house, high taxes. Relatively low inventory of homes.

My opinion is, the home is already worth quite a bit. My husband wants to do most of the work himself. Is it worth the added money for the cosmetic features?

Thank you all so much! 

This is a new community for me, yet I've already learned something that saved me from making a huge mistake.

Dave, you would know! Ouch! So much for that plan. 

Plan B? If we are 6 month or longer PR residents and we get capital gains from the sale of a property in US, will that mean we can dodge the taxes under 20, 22?

Also, Dennis, the way things are in our government, do you think Congress will act, or just continue to punish Obama for getting elected by blocking everything he touches?

Thank you so much! Good advice. That's my son's birthday, BTW.  :)

Hello, we have a rental house in CA that is completely paid off and we are seriously considering selling it to buy a beach house in Puerto Rico. My husband surfs and my family lives in FL.  It seems tricky to time it right when selling under a 1031 exchange to avoid capital gains taxes. I have an itchy trigger finger, so to speak, because we found an amazing beachfront property at a good price, but we haven't seen it in person. 

My husband is more cautious, and worried about Zika. I am more worried about the PR economy, and chikungunya. We are very limited about the area, staying near Rincon and Isabela. Do you think the bottom has hit and all the best properties will be sold soon, or prices will go up?