Investing in Puerto Rico

[An Duong]

Hey BP.  

I am exploring options to invest in Puerto Rico.  I am looking at multi-units and might go down in April or June.  Anybody have any insight on where to look?  Good Property Managers or real estate agents down there?

[Victor Ayala]

Here's my assessment based on my recent visit to Puerto Rico:

It's rough out there. My opinion hasn't changed really... I was able to confirm my assumptions rather.

I would definitely invest with tourists and short-term vacation rentals in mind. Just because there are just way too few people who can afford even a $500+ rent. Also, it's really not worth buying properties to flip… unless your able to keep the ARV under $60k and still make some money.

Buy and hold would be the way to go for residential. And only buy and hold vacation/short-term rentals specifically.

Commercial property is also profitable… depending on location.

I personally was out there gathering information and documents regarding raw Oceanfront property (with permits in place for Hotel Casino and Resort), Acreage for agriculture development (Puerto Rico is blessed with very Fertile Soil), some shopping centers in urban areas and 2 private islands that a broker wants me to help him market here in the States.

So HMU anyone that would like more info about Puerto Rico