All Forum Posts by: Julio Navarro

@Jim Goebel

Hey Jim, thanks for the wright up. To answer some of your questions, renting to local wage earners is possible, however, getting over a 1% rent would be very difficult in most parts of the island. I do believe it be best leaning towards the tourist service. In regards to my grandfathers rentals, he does rent to residents. I'm currently seeking for creative ideas on taking over his apartment business, he's already agreed to carry the note.

Many people left the island after Maria, some have returned, but their are many houses still empty. My guess is probably as good as any, with no money to invest in repairs and the length of wait on FEMA aid it was probably safer for many families.

I am not very inclined in the subject of politics, but I can say, I don't believe the government here will get any better in the coming years. They have made a huge deficit in the last four decades, I do not see how they intend to get out from under any time soon.

I'd say, a large portion of the population is on some kind of welfare. I understand some people may have limitations, but there are many that don't and abuse of the system. 

The power grid here is not that bad, however it is VERY outdated. I do believe we have many other viable power source options to exploit, but it seems someone in the higher ranks doesn't like the idea of loosing money to green energy.

I know its been almost two weeks for my reply, but are you by any chance still in island? Would love to meet a few BP folks, if any are up for a drink or coffee. LMK your thoughts on the situation here in PR.

@Luke Aubut, thanks for the welcoming and for such positive vibes. I am really inspired to do this business locally to help out the community, PR is a beautiful island and I really do love it here. My GF and I have begun networking with a relatively green investor real estate agent (atm  flipping his first), and seeking out our first deal. We've found a few potential opportunities and will soon be sharing our findings here to see what you all think. 

Gracias, 

Julio 

Hi all! 

@Mike Hurney, most jobs here begin paying off minimum wage. If your licensed and lucky, you can get a few extra bucks. In August I was visiting my father in Chelsea, MA and my jaw dropped when I contacted a couple companies regarding employment opportunity, to which I was told starting salary would be about $27-$32/h. Here in PR I'm working for $10/h, that being said I'm more than ready to jump into REI. Currently I work for a private contractor in the Isla Verde area. Are you in the island?

Best regards 

Julio 

Hey, saludos a todos! I see this post has been on here for a while now. Are any of you meeting up? If so I'd like to join in on the next meet up! 

@Amanda Roderick, my grandfather's rentals are located in Bayamon, one of the largest and most populated cities. He owns a two building lot, with a total of 7 rental apts. One of these is big enough to be a commercial rental and I believe it might be rented soon to make it a pizza restaurant. 

Some of the places my GF and I are looking into are Florida and Mass., since we have family there. But are keeping an open mind as to where we'd like to move to. We're more inclined to a warmer weather state, but nothing is written in stone. If moving out of PR, our goal is to do so next summer, most likely starting with a house hack, and moving on from there. 

Are you native to Ohio? How do you like the general lifestyle and education? How available are employment opportunities (construction wise)? Any other info you'd like to chip in from your area would be greatly helpful. 

I'll get back to you with more details on the northwest area. Are you looking to rent for short or long term? Airbnb maybe? 

Kind regards, 

Julio 

Thank you Michael, Mark and Amanda, for the welcoming! 

@Amanda Roderick, I love PR, it is a beautiful island. But as you said, population is declining at a very fast pace. Huracane Maria hit us very hard and 13 months from it, there's still a lot of recuperation to be done. 

I've only been listening to audibles and the podcasts for about a month or two now, but I know this is a great vehicle to achieve the lifestyle I want for me and my family. My grandfather owns some rental property and I will practice PM with him to start off. As you know, construction here is very different from that of in the states. So I look forward in seeing how could the estimation calculators help me here. Maybe I'll be able to get PR more involved in the BP community. I certainly hope I'm not the only puertorican in BP. 

My GF and I, however have been thinking about moving to the states. I have a 4yo boy, and think he would have a better lifestyle in a safer place. Only time will tell. But I will deffenetly learn more about the local REI opportunities. Amanda, if you or anyone have any questions, please feel free to ask away. I will do my best to answer them.

Julio

Hello everyone, I'm Julio Navarro, from Bayamón, PR. I'm a US Army vet, working as an electrician for a private contractor, and desperately wanting out. I first came to know about RE thanks to Robert Kiyosaki's Rich Dad Poor Dad, and now found BP, initially by podcasts. Great show BTW! I've been hearing them from the beginning, going on #40 in less than a week. My girlfriend is joining me in this new venture, and we're really excited! 

So we're most inclined to start off with buy and hold, with a multi family unit. Then adding fix and flip to the equation. But first need to choose where we want to start, not sure if PR is the best place ATM. 

Really excited for what's to come! Hopefully I can find a fellow Boricua here in BP!