Anyone Investing In Puerto Rico?

[Michael David Pagan]

If anyone has caught the news lately, Puerto Rico is in the spotlight for both statehood, and it's economic crisis.  While I don't think either of those will go away or happen anytime soon, I would love to know if anyone is investing in PR?

If yes, why? If no, why?

[Danny Duran]

@Javier Rancier my partner, @Zach Shepard and I are making a trip to Puerto Rico from 8/13 - 8/19. The purpose of our trip is to get to know the PR real estate market and identify properties to acquire. We are primarily interested in acquiring units, designing/furnishing and operating them as short term rentals (Airbnb, VRBO, etc). We need to identify a property manager who can manage the end-to-end short term rental experience (corresponding with guests on Airbnb, checking them in to the unit, handling maintenance issues during the stay, check out, maid service turnover, etc). We wish to maintain control of our ability to operate short term furnisehd rentals, so, we will avoid properties with COAs/HOAs unless they expressly permit this activity and are friendly toward operators.

@Javier Rancier we intend to meet with real estate brokers, property managers, designers and other professionals during out trip to set up a team on the Island that can manage our interests since we live and operate in the US Mainland's Midwest. We'd also like to meet with hard money lenders and bankers to establish local financing relationships. Please share your insights.

@Scott B. Please share insights from your July trip to PR. What did you uncover and what are your next steps toward investing there? Do you have any advice for me and my partner to maximize our week trip in August?

@Juan Bravo Sounds like you are buying in PR. Do you have a good property manager or RE broker recommendation? What is your investment strategy with the property you are buying (may have already acquired)? Buy and hold to normal renter? Or, is it just a personal vacation home for you and the family?

Excited about PR and getting to know some like minded investors!