Why are we Sleeping on Puerto Rico?

[Eric Long]

I have searched BP forums in a few ways to see what the chatter is about Puerto Rico and the posts that pop up are old. Very surprising. I understand that PR is kind of USA territory but kind of not - which will understandably turn people off from PR as an investment opportunity. But to almost no discussion? Very surprising. 

In no particular order, here are some reasons it appears PR may be a great opportunity. Keep in mind, this is about two weeks of information gathering.

-While not a US state, it is an unincorporated US territory, which means it essentially functions as type of state without all the privileges. But in terms of economy, infrastructure, most laws it is pretty close.

 -Again, while not a US state, if there ever was to be a new state added, I think most would agree PR would be first in-line. I am pretty certain I'll see it become a state in my lifetime

-Temperature and weather is similar to Hawaii (think: cheaper Hawaii option?) and has similar activities. A great vacation spot that is still within the USA.

-Housing appears to be relatively affordable considering tourism is a big economic driver there.

-Since it is a US territory, it isn't considered international investing and most US banks can finance there

Some of the downsides:

-Recently declared bankruptcy

-Infrastructure is still developing. Country in general appears to be developing in that sense too

-Not sure of how well the rule of law is followed, variable outcomes for those living there.

I am not trying to insult anyone from there or familiar with the area with this quick analysis -- I'm just not very familiar and the information is a little sparse. If you are an investor, realtor, property manager, GC, or know more about PR than I do (not too hard to do) and have points, please chime in! I feel like I'm missing something very obvious that makes this less than ideal but it's not very clear to me right now.