Wholesaling deals in Puerto Rico

Member since 2023 · 3 posts · 0 votes

I'm currently living in Puerto Rico and I've been working through starting to focus on investing in real estate through wholesaling. Therefore, by looking into the whole process the tools and apps (zillow, batchleads and so fourth) that are used to complete a wholesaling deal are not applicable on the island.

Consequently, have any of you have ever done a Wholesaling deal in Puerto Rico? And if so, what are the tools that you used to complete the process?

And if I'm missing something please correct me if I'm wrong. Thank you in advance and any advice would be appreciated.

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Kathryn Morea

Developer · Member since 2010 · 188 posts · 103 votes

Alexander,

There are some wholesalers in Puerto Rico. Personally I've paid a wholesale fee for a property I bought and I've seen others in our real estate group pay wholesale fees. Where did the wholesalers find the deals? Word of mouth, uber, clasificados, networking, bandit signs (in Spanish). The deals were not found using zillow, text campaigns, door knocking, expired listings or any of those wholesaling tools used in the mainland. Being bilingual is a huge super power here. We have buyers in our group. People are always looking for deals.

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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
2y
I don’t understand what you’re talking about. Zillow covers listing in Puerto Rico.
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Alexander Roman
OP
Member since 2023 · 3 posts · 0 votes
2y
And have you done any wholesaling deals in Puerto Rico? If so what would you recommend?
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Kathryn Morea
Developer · Member since 2010 · 188 posts · 103 votes
2y
Alexander,
There are some wholesalers in Puerto Rico. Personally I've paid a wholesale fee for a property I bought and I've seen others in our real estate group pay wholesale fees. Where did the wholesalers find the deals? Word of mouth, uber, clasificados, networking, bandit signs (in Spanish). The deals were not found using zillow, text campaigns, door knocking, expired listings or any of those wholesaling tools used in the mainland. Being bilingual is a huge super power here. We have buyers in our group. People are always looking for deals.
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Alexander Roman
OP
Member since 2023 · 3 posts · 0 votes
2y
Thank you for confirming and clearing up my doubts. However, have any of the wholesalers from Puerto Rico (that you know of) have done deals with real estate agents or do they usually deal with off market properties?
I ask because considering that many real estate agents in P.R don't know what a wholesaler is they can be pretty hesitant.
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Kathryn Morea
Developer · Member since 2010 · 188 posts · 103 votes
2y
Yes, there are some agents who know of wholesalers and have been in transactions. But most probably don't know what a wholesaler is.
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Aaron T.Pro Member
Developer · Aguada, PR · Member since 2014 · 927 posts · 278 votes
2y
Quote from @Alexander Roman:

And have you done any wholesaling deals in Puerto Rico? If so what would you recommend?

I would recommend not doing it. Most of the properties are not worth it. The Heir laws will tie up so many properties that could be wholesaled, but will never be due to familial disputes.
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