Updated 12 months ago on . Most recent reply
STR in Puerto Rico
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $155,000
Cash invested: $40
This home is actually in Puerto Rico
What made you interested in investing in this type of deal?
The home was purchased years ago. Since it is paid off, I thought it would be a good idea to make it into a STR.
How did you find this deal and how did you negotiate it?
I was just on the market for a home on the island, with zero knowledge of what I was doing and zero experience.
How did you finance this deal?
Conventional Loan 30 fixed.
How did you add value to the deal?
I remodeled the bathrooms, upgraded all lighting, added A/C units, new windows, and new appliances.
What was the outcome?
Passive income!
Lessons learned? Challenges?
I should have purchased a lot more property back then.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did, but I do not remember who it was.
