All Forum Posts by: Pat Marco

@Jackie Botham

Hi Jackie

I saw your post above and was wondering if you invested in Puerto Rico

A few of my clients who are experts in real estate did a full study on the island after the hurricane and they bought in Old San Juan in 2018 - they love it down there and they say the area is expected to double in the next 3-5 years

Problem is there is nothing for sale in the main streets at this time

What has your experience been?

@Nadav Givoni

I know it’s an old post but what I know about Puerto Rico is that now is the best time to buy - after the hurricane they’ve received plenty of funds and there are huge companies going in there because 97% of the island is an Opportunity Zone

I would stick with the metro area of

Condado (too expensive now)

Isla Verde (only near the big hotels beach front)

Old San Juan (anywhere anytime there is good because of scarcity of supply and steady demand with tourism and the uniqueness of the place)

Problem is how we banks would want 40% downpayment but maybe you will find other investors willing to carry financing for a year or two till you get established and show presence on the island then banks will give you a loan with a 25% downpayment

Got a lot of clients and investors friends down there and they love it

@Jaime Morales

I know it is an old post but curious to know - have you found someone?

@Lauren Speidel

You are correct Lauren you cannot do a 1031 exchange but you can do the following:

1) opportunity zone deferral

Or

2) pay just 15% tax on your net gain and take the rest of the money to invest it in Puerto Rico it anywhere else

There are many ways to avoid or defer capital gain taxes but people know only 1031 exchanges rules because that’s what brokers promote to double dip on commissions

@James Sanson

Just make all members votes on decisions so they are not passive and voila, you’ve got them more interested and excited about what you do and you’ve legally avoided the securities requirements for a private placement memorandum and the filing with the SEC

I need help to draft a prof looking brochure 20 pages

@Jean-marc Cabrol

I am a retired tax attorney and I like to invest in real estate funds but I was suspicious of Equity Build offer and structure

I invested in another company that paid 8% fixed with no fees - the principal and manager teaches real estate and has done deals from high end San Francisco to mixed use in Puerto Rico to small turnkey homes in Midwest etc

His diversification by market and by type of property is what attracted me

My money has been cross collateralized against all the fund’s assets

You can private message me I can tell you about that company because they have been up and running for 10 years or just look for a similar company where youvtruly get to meet and know the owner

@John Hatfiled

https://www.housingwire.com/articles/46567-sec-shuts-down-equitybuild-claims-company-is-135m-real-estate-ponzi-scheme

I hope you got your money back!

@William Tong

https://www.housingwire.com/articles/46567-sec-shuts-down-equitybuild-claims-company-is-135m-real-estate-ponzi-scheme

@Stacey Diaz

I hope you got your money back!