Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on .

User Stats

21
Posts
12
Votes
Adianice C.
  • Investor
  • New York city, NY
12
Votes |
21
Posts

Seller Financing in Puerto Rico

Adianice C.
  • Investor
  • New York city, NY
Posted

Hello BP family!

I'm looking into buying a property with owner/seller financing.. in Puerto Rico..

Info:

- It was purchased as a single unit residential property (appraisal should have been for a

- it's a perfect income producing beachfront multiunit property which he renovated .. 10 plus bedrooms etc

- selling for 800k.. but I can probably get it for 700k.

- minimum cashflow at 5-10k/ month with str via AirBnb.

Con:

- Doesn't have the 2 year minimum rental income history .. which makes even a conventional loan difficult since the monthly expenses wouldn't pair well with my income: debt ratio

Hence why I want to do seller financing..

- I figure I could try to get a lower down payment, lower interest rate and show him that on a 20 or 30 year loan this would benefit him based on amortization schedule etc..

*******

Question for those WITH personal experience in seller financing in Puerto Rico..

- what terms make it benefit both parties?

- any advice or suggestions besides going through a legit CPA or real estate attorney prior to drawing up a proposal for this type of deal..

- any insight would be greatly appreciated!

history since it had been abandoned.. now renovated etc