Hello Puerto Rico Investors

[Joe Homs]

I am headed to Puerto Rico at the end of this month.  In particular, Bajadero which is just outside of Arecibo.

I am traveling with my Father who was born there and we are back to settle his affairs.  I need some assistance in the sale of his home and ranch, so I am looking for experienced real estate agents who can advise us on what is going on after the Hurricane.

I would also love to meet up with some locals in the area who are investing in real estate and see what opportunities there are.  Please reach out to me for more details and timeline.

[Lawrence Johnson]

Joe Homs, great post. I live here in Puerto Rico not far from your father's ranch just off Carr 129 close to the  Camuy caves. You are spot on about your description of some of the town squares and business sectors of the area you visited...especially Arecibo. I have to say that even prior to the storm the conditions were not favorable there. The economy is to blame but local politics have played a role in the demise of Arecibo as well.

I'm not sure how long your most recent visit was or when you are planning your next trip, but I do hope you get a chance to view some of the other " non tourist" areas as you may be pleasantly surprised at the resurgence (albeit gradual) of some of the surrounding towns.

I've been a resident here now for the past 4 years and I currently work as  a lender at a local mortgage bank and also am now getting more involved with RE investing here. I've made a number of connections with real estate agents and attorneys over the past few years here and feel there  is  tremendous potential on this side of the island especially on the real estate front.

Prices are great especially for buy and hold scenarios and inventory is not an issue. It does take time and patience to maneuver through the system but it is very doable with a few connections and an open mind.

The storm was a tragic event and I too hope we don't have to experience anything quite like that again, but it has also in my opinion allowed a large group of people (power crews, relief volunteers just to name a few) that may not have ever ventured here an opportunity to experience this paradise first hand. Many locals that left due to power issues,  health etc are coming back. Young entrepreneurs and business owners are wanting to take advantage of the tax breaks....and many of these groups have an interest in RE investing.

There are a number of opportunities here and I expect the trend to continue.