Rental Property Investor · San Juan, Puerto Rico · Member since 2018 · 21 posts · 15 votes
Hey guys I am new to Bigger Pockets. I just bought my 2nd 4unit Multifamily in Puerto Rico and utilized the bigger pockets spreed sheet. Really cool application. Is anyone else buying up real estate in Puerto Rico? Would love to connect.
Real Estate Agent · Winter haven, FL · Member since 2011 · 572 posts · 336 votes
7y
I don't know that Puerto Rico has the appreciation & cash flow potential most would like to see. I could be wrong so im interested on your thoughts and experiences.
Real Estate Agent · Winter haven, FL · Member since 2011 · 572 posts · 336 votes
7y
I don't know that Puerto Rico has the appreciation & cash flow potential most would like to see. I could be wrong so im interested on your thoughts and experiences.
Developer · Aguada, PR · Member since 2014 · 927 posts · 278 votes
7y
Puerto Rico is hit or miss depending on locations. without a lot of people working, it makes it hard to buy if there is no income coming in. the STRs are big down there, but the prices are up due to the investors like us already in there.
Rental Property Investor · San Juan, Puerto Rico · Member since 2018 · 21 posts · 15 votes
7y
Puerto Rico’s cash flow is amazing if you know where to buy. You can buy a 4 unit multifamily in San Juan or Carolina that grosses $2,250 and I only bought it for $145,000. You need to know the market. I just signed a contract for my 2nd one. Affordable housing in Puerto Rico has a real shortage. So I am focused in that area. Not to mention my San Juan AirBnb had 97% occupancy in September. So I look at Puerto Rico as a home run while a lot of others view it as high risk. So far it’s been good to me. That’s my experience. Hope that information helps
San Juan, Puerto Rico · Member since 2015 · 16 posts · 4 votes
6y
Congrats Jordan! I'm also from PR. Right now there's no appreciation but if well maintain it will hold price while PR gets better. With experience Cash Flow is always amazing. Have you been able to find this kind of Multifamily deals in San Juan? Lets connect
Real Estate Agent · Winter haven, FL · Member since 2011 · 572 posts · 336 votes
6y
I guess know your area is a big key. I am Puerto Rican but have only travelled to certain areas to see family and I would never invest in the areas I have been to. I will do some more research. And there is hot spots you would recommend I'm interested in taking a look at them.
I have two investment properties in San Juan and the ROI is great! You need to be very familiar with the area. It is one market where the 1% rule still holds, with high quality tenants.
Rental Property Investor · San Juan, Puerto Rico · Member since 2018 · 21 posts · 15 votes
6y
wow! Just seeing this post I made 10 months ago. @Angel Sustache would love to link up @Nora Davila yes selecting good tenant is key. So update on PR real estate I know have 2 4unit multifamily and a duplex fully rented in P.R. 10 rental units and thank God everyone paid rent during the pandemic so far. I plan on 2-3 more purchases by end of year. Hope everyone is doing well during these times.
Rental Property Investor · San Juan, Puerto Rico · Member since 2018 · 21 posts · 15 votes
6y
I only invest in the affordable market so there is more of a demand. I have 10 rental units and all paid rent, thank God. But it’s impacted here just like the states.
Brooklyn, NY · Member since 2015 · 4 posts · 0 votes
6y
@Jordan Delacruz I’m from Brooklyn ny but would like to buy properties in PR. Problem is I don’t know anybody there. Any advice of good property management, handyman, cleaner?
Homeowner · MD · Member since 2020 · 9 posts · 3 votes
5y
Hello!
I am just getting into REI and am researching next moves. I am from PR, have lived in the states for years, but my whole family is still in PR. I'd like to know more about the RE aspect from folks investing there since I have connections there.
@Nora Davila and @Jordan Delacruz, I was analyzing properties and went to the CRIM website to get property tax info. It seems outrageous that a property in SJ would pay upwards of 8% per year. Am I missing something?
I’d appreciate your input, connecting would be even better!