New Pro Member from San Juan, Puerto Rico

[Alejandro Herryman]

Hello Everyone,

I am just passing by to introduce myself to the community.

My name is Alejandro Herryman from the island of Puerto Rico in the Caribbean.

I am a licensed attorney, real estate broker and publicist.

I know the real estate business very well in my niche here in Puerto Rico because I used to manage over 100 apartment units about 8 years ago and have been studying again for the last 3 months and have been very accurate in my findings. After submitting 45 offers, we found a gold mind. If you dig deep here, you will find some great opportunities.

I just started as an investor 2 months ago. Joined forces with a business partner and got a 6 unit property last week. We are in the process of choosing our General Contractor for the remodeling process. If everything goes as planned, we should have this property remodeled, and fully rented by mid January. At that time, we will do the process all over again.

My personal goal is to have 100 units within 3 years, but from I have seen in the last month, we will probably hit that mark within 2 years. We'll see...

Any investor interested in Puerto Rico, is more than welcome to contact me with any questions he or she might have. If I don't know the answer, I can probably find out with couple of calls.

I hope to be a good resource for many members here at Biggerpockets, specially, since Biggerpockets reopened my desire to become a Real Estate Investor. I have gotten so much value from the PodCasts, that it is time to pay it forward.

Sincerely yours,

Alejandro Herryman

[Dennis Rodriguez]

Welcome to BiggerPockets @Alejandro Herryman

Are you investing in the San Juan Metro area or elsewhere? Also, who do you plan to market your rentals to? I have a family member that owns residential buildings in Mayaguez and other parts of the island and he tells me that things are getting really tough to keep them rented. In his building in Mayaguez he has 2 vacancies for the first time in over 8 years and he has been steadily decreasing rent prices for the past 3 years in order to keep the other units occupied. 

Thanks, 

Dennis Rodriguez (originally from Guaynabo City, now in Houston, TX)