All Forum Posts by: Marc Rice

I am considering my first rental/vacation property and would like it to be in Puerto Rico for a few reasons:


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1. I loved it when I went. Amazing beaches, food, nature, culture, etc. I enjoy speaking Spanish and salsa dancing and it is a great location for this.

2. It scores a 100/100 (san juan) on airdna, so it seems to have a strong rental market.

3. $$$ going into the island from the new tax incentives. It's a place to legally go and sell stock/business without capital gains. When those individuals are there for over half the year, it will bring prosperity to the island.

4. Quick/cheap flights from Philadelphia, where my primary residence is.

5. After establishing or continuing it as a rental, I'd like to move there myself for at least half the year.

Question: What are people's general opinion on PR in 2024? Is it still a good investment? Rough for a beginner? Important resources(articles, books, podcasts) to review?

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Searching properties:


Size: 0-2 bedrooms
Price range: 300k max

I've started looking on clasificados, and trying to determine where to search. I like the idea of san juan, specifically miramar, santurce, or anything 1-2km from the beach with food/entertainment really. Condo or house I am open to either, as long as it can be a reliable rental. I am sure everyone else feels the same though, so if there are any other recommended areas I'm open. Locations that are a 0-1 hour car ride from san juan to a nice town/city with more affordable areas walking distance to the beach would be interesting as well. 

Examples:

https://www.clasificadosonline.com/UDRealEstateDetail.asp?ID...

https://www.clasificadosonline.com/UDRealEstateDetail.asp?ID...

https://www.clasificadosonline.com/UDRealEstateDetail.asp?ID...

https://www.clasificadosonline.com/UDRealEstateDetail.asp?ID...

https://www.clasificadosonline.com/UDRealEstateDetail.asp?ID...

Question: What are any issues with the above? Do I at least seem to be picking reasonable properties?

Question: What other areas of puerto rico do people suggest? I really enjoyed san juan, but realize it might be the most competitive area.

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Financing:

I would like to do 20% down, or more if needed, but I would like to avoid 100% cash offers as it would likely be the majority of my liquid assets.

Question: How does financing differ from the mainland? Am I likely to get a mortgage with a 20% offer or is it too competitive? Can mainland banks be used?

Agents:

I've read/heard that areas are largely represented by specific agents. I tried to get in contact with an agent through BP's find an agent, but the concierge said BP didn't have an agent in the area.

Question: What is a good way to get in contact with an agent who can help me narrow down locations and then focus on finding properties there

Property management:

Seeing as this is my first investment property, I would like to start with property management and learn more as I progress.

Question: Is property management common in PR and are there any recommendations?

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Thank you in advance for any guidance. I appreciate the podcast and forums here!

Hello all! I currently own two rentals in upstate NY and I've recently moved to FL. I've got a decent amount of money that I want to start investing into section 8 rentals in Florida/Out of state doing DSCR loans. Not sure where to start but if there's any experienced section 8 property owners that could I could connect with/get some advice from that'd be appreciated!

Hi all. I own a 3B/2.5Ba townhouse in Fremont, valued at $905k, with $690k left on a 30year fixed at 5.625%. For personal/family reasons, my wife and I need to move out of state sometime in the next 12 months.

I’m trying to figure out what to do with this property. We’d lose about 70k selling at appraisal value, and comps have rent at around $4300 which would be far short of cash flowing after maintenance & management costs.

Looking for creative ideas on how to execute this move as painlessly as possible. I have $200k cash to deploy in the process, but would prefer to use that for a down payment on a home in the place where we’re moving (similar VHCOL area.)

Hi I am looking for a new place to invest, I like multi family 2plex- 4 plex but would potentially do something bigger.   Currently have properties in Spokane,Wa, Caldwell, Id, Reno, NV, Little Rock, and Benton Arkansas.   The only place that seems logical at this point is Arkansas since the values have gone up so much in the other places.   Im looking for anywhere that I can get close to the 1% rule.   I am not as much interested in appreciation as I am cash flow.  Have 5-600k to spend and would like something to yield over 5000 a month.  Any ideas let me know thanks

Ian

@Marc Rice can you share with me please?

@Marc Rice The best Real Estate Agents have trusted contacts who can get inspection items taken care of. A true Investor friendly agent will have all of the contacts and likely use them on their own projects. I rely mostly on referrals from my agent and my contractor.

Hello, 

I’m new to real estate investing and was hoping some of you would share your thoughts on why it is better to invest in real estate over the stock market. 

So far, I’ve only invested in stocks and the idea of investing in real estate seems somewhat risky to me.

Does anyone have any experience using Poplar Homes as a property manager in the Dayton, Ohio area? What is your experience? What level of management did you select? Would you recommend them?