All Forum Posts by: Victor Chico

Small world. I used to live there. I will inbox you.

@Shelley Greene: I do believe there are good opportunities. I am managing some properties now, but looking to expand. Living here is more expensive than some places (see a Cost of Living Calculator here). As to utilities, it really doesn't matter for properties since most landlords in PR do not include water/electric as part of the rent.

Which "Corcovado"? That seems to me to be the name of the Ward and not the Municipality. If it's where I think it is, the zoning should be rural. You can do some residential, but it'll take some work. Inbox me with a link to the land (via Google Maps) and tell me what you plan to do, so I can point you in the right direction.

Saludos boricua!

What are your major? What market are you interested in?

Flavio Zanetti : We can agree to disagree on Puerto Rico's future status. I do agree that a final solition must be reached because the curent territorial status is demeaning and unsustainable.

Matt Castle : I agree that the Zika is serious. However, the publicity has been much overhyped. Living here I only know one person who was infected and the effects were mild. That being said, if enough people get scared prices may fall due to a temporary dip in tourism.

Yes, we defaulted. However, the whole story is that there is a "Federal Oversight Board" coming which was signed into law yesterday. I believe this "remedy" of an Oversight Board was used in NYC, Detroit and DC before. They Board will be here until we can have a balanced budget for 4 continuous years. This is all off the top of my head so please research it yourself. Do not follow this advice blindly.

I believe investment in vacation rentals or a few areas, like Old San Juan, Condado, Isla Verde, is safe.

In my opinion, the Oversight Board is here to steady the financial ship and make sure the US debt holders get paid. In a few years, the US will either give us independence or make us a state of the union. I believe the former is more probable that the latter, but PR is split 50/50 on this.

This is the 2015 QAP: http://www.afv.pr.gov/wp-content/uploads/2014/04/Qualified-Allocation-Plan-2015.pdf

I met with the housing authority. My conclusion was that for the small projects, 5 to 20 units, the best fit would be the 4% program because it's easier to get the funds. However, the housing authority made it seem that we have to have the investors in place prior to going forward with the process.

@Jim Groves: I see that you are knowledgeable in this area, but your website does not include PR. Maybe we can connect, I would love to pick your brain about this.

Welcome to Puerto Rico! Even better if you are in Camuy, the Romantic City and my hometown.