STR in Puerto Rico

[Jayson Ruiz Perez]

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.