Puerto Rico: Gold Mine or Fools Gold?

[Francisco Hernandez]

Hello All,

What are your thoughts on the mass exodus of citizens out of Puerto Rico?  Are you hopeful that the economy will pick up and investing in this market will be fruitful in the long run or are you staying clear of the area due to the economic crisis they are in?

Look forward to your thoughts.

[Victor Ayala]

In my humble opinion... after living in Puerto Rico 20+ years and becoming very familiar with the political, economic and cultural situation of the island (after all I AM puerto rican), I strongly believe that what the future holds for Puerto Rico is very similar to that of the Dominican Republic. Which quite honestly wasn't too far from being true prior to the hurricane.
And what I mean by that is that I see PR becoming a destination for tourists & Air BnB users. An upper class that's well off, the majority of the people on the island living in poverty and a middle class that's basically non-existent. Where there's WAY too much corruption, government waste, and bureaucracy that it's almost impossible for the locals, without "connections", to run successful business' therefore not being able to stimulate the local economy.
Having said all that... no one can dispute the absolute beauty of the island. The beaches, the mountains, rainforest, and all of the ecosystems that exist on the island are stunning. The beautiful people and not to mention... THE FOOD! OMG hands down the best in the world!
So if I were to advise anyone on investing on the Island I would definitely tell them to consider purchasing property to accommodate tourist and people looking for vacation rentals.
That's my .2 cents. You do your due diligence and research before investing.

PS
I'll be visiting the island from January 10th to the 17th. I'll be meeting with a several local Real Estate Agents so I should be able to come back with a much better perspective.

PPS
I Just got back and now have a much better feel and insight of what’s going on in PR. 😳