Real Estate Agent · Louisville, KY · Member since 2016 · 183 posts · 188 votes
Hello everyone,
My name is Raphael Collazo and I am software consultant that recently moved to San Juan. It feels great to be back in Puerto Rico after so many years. My dad is from Cayey and I used to spend summers there when I was younger. Puerto Rico is a beautiful island with a rich history and I feel as though its a great place to start my real estate investment journey. I would love to hear from others who have experience investing in San Juan and I would appreciate any advice you may have for first time real estate investors. I look forward to future discussions.
Wholesaler · Katy, TX · Member since 2013 · 213 posts · 109 votes
10y
Hi all,
I'm originally from Puerto Rico but moved to the Houston area three years ago. I have a very good friend who is a Realtor in PR and he also invests and flips in the island. I haven't been able to convince him to become a Bigger Pockets member but I can get you in contact with him if you PM me. I'm pretty sure he could point you in the right direction specially with the current economic situation and the changes that are going on with the massive decrease in population.
Investor · columbus, MT · Member since 2015 · 33 posts · 4 votes
10y
Hey Raphael, you will be amazed at what you can learn here on this site. As far as specifically to puerto rico, I don't know, doesnt seem to be much interest in the island. My wife went there for two weeks for a confrenece and cant get it out of her head that she wants to move there. I have been looking for tri's or quad's or even an apartment building, on the west coast. But having never been there dont really know what to look for. With the new tax acts 20, 22 and 273 it seems like a guy might just prosper given the right circumstances.
Carolina, PR · Member since 2015 · 15 posts · 5 votes
10y
Hi @Raphael Collazo,
I am from Puerto Rico and live in Carolina. I am a newbie also and just start to analyze the best areas to invest. As of today, San Juan and surrounding cities are the best options due to jobs. Let's keep in touch.
Investor · Carolina, PR · Member since 2014 · 7 posts · 5 votes
10y
Hello Raphael & Anthony! Nice to see more people from P.R. on the community. I'm also new to REI, been living in Carolina, P.R. for the past 9 years and God willing, just about to do the closing of my first multi-family property by the end of the week. I'm not expert, but definetely open to help in anything I can by sharing any type of knowledge that could help us all in this matter.
Feel free to ask questions and I may be able to help since I've learned a couple things during my journey for my first property during the past 3-4 months (analyzing market, property listings, visiting, mortgage acquisition, etc.). If I don't know the answers, we'll look for them together with the help of the BiggerPockets community, it's good to learn while helping each other.
I have been reading up on new tax legislation here in Puerto Rico. It seems there are new laws that will encourage increased real estate investment on the island. Very exciting.
I am excited to see that there are other like-minded individuals here in Puerto Rico. I have begun my search for an investment property in San Juan. We should all definately keep and touch and share information about what areas are the most promising.
Wholesaler · Katy, TX · Member since 2013 · 213 posts · 109 votes
10y
Hi all,
I'm originally from Puerto Rico but moved to the Houston area three years ago. I have a very good friend who is a Realtor in PR and he also invests and flips in the island. I haven't been able to convince him to become a Bigger Pockets member but I can get you in contact with him if you PM me. I'm pretty sure he could point you in the right direction specially with the current economic situation and the changes that are going on with the massive decrease in population.
Guaynabo, Puerto Rico · Member since 2015 · 4 posts · 3 votes
10y
Hi all, I am from Puerto Rico, and living in Guaynabo. I started as an appraiser assistant a couple of years back and Im actively looking and in the process of buying some properties. If you need any help with comparables feel free to nessage me. In addition, if you need a real estate lawyer let me know. My wife is a real estate lawyer and have various investors clients.
Investor · columbus, MT · Member since 2015 · 33 posts · 4 votes
10y
Hey everyone,
Are there employment opportunities on the northwest or southwest coast as you can own all kinds of rentals but if no one has a job how is the rent paid. Is the economy moving in the right direction.
Rental Property Investor · San Juan, PR · Member since 2016 · 2 posts · 3 votes
10y
Hi, I'm new to BP but have been doing buy and hold for the past 8 years in the San Juan PR metro area. Any questions or comments please let me know. I'll be glad to help.
My biggest challenge so far has been getting$$/financing, since local banks only lend 70-75 %LTV on investment type loans and local credit unions lend up to 80%LTV. I'd to look under rocks to get money for down payments : )!! I've gotten seller financing, which was pretty awesome and its what I'm currently looking forward to.
If you're looking to invest in the San Juan area, IMHO, mainly focus on 3-4 residential multifamily units which yield no less than 20% ROI per year. From my experience they'll yield higher profits and mitigate your losses when a unit is vacant.
Realtor · Brooklyn, NY · Member since 2016 · 42 posts · 10 votes
10y
Hi All!
I'm somewhat of a newbie to BP and looking at REI opportunities in PR. I have a few ideas like flipping or vacation rentals but nothing set in stone as I don't know the market that well yet. Would any of you be willing to connect via phone or skype to discuss a few questions and/or ideas regarding the current market, rules and regs on the island? I would love to speak to anyone who's gone through financing, buying, renting, etc. any and all experience would be tremendously helpful.