All Forum Posts by: Brad Crerar

Thanks All, @Aaron T. where can I find more info on average insurance costs?

Hi All, Is anyone able to shed some light on property taxes for a second home / vacation rental in puerto rico? I have read online it can be as high as 10-11% but 2 RE agents I have spoken to say property taxes are lower than mainland. Obviously $30k in annual taxes on a $300k house would greatly affect the investment potential. 

In addition, if anyone has a recommended lender and/or property management company they would recommend for PR, I would greatly appreciate it. Specifically looking at the Northwest part of the island. 

Happy Friday

Hi All, I am looking to buy a property in either Miami or Rincon, PR to use as a vacation home and as a STR/Airbnb to offset costs. I have done extensive research in Miami and so far it has not worked out due to the limited number of properties allowing daily rentals along with the current high prices/sellers market.

I am having a lot more difficulty finding listings and info on properties in Rincon, PR. I would love to buy a single family home with a pool or even renovate a home and install a pool. I am very concerned about quality of renovations/contractors and getting “gringo” pricing so would also consider a condo but the quality of condos I have found do not seem to be worth the prices. I would also consider buying land and building using modular / prefab. 

Does anyone know of reputable prefab builders in PR?

Any other advice or recommendations for condos and general Airbnb investment in PR would be GREATLY appreciated. 

Hi All, my wife and I are looking to invest in a property that we can use for short term rentals in addition to use as a vacation home in Miami. We live in NY but spend many long weekends there during the cold months. This will be my first investment property and the more research I do, the more overwhelming I find this in regards to regulations. I know there are parts of Miami where the owner needs to be present and/or living in Miami for >6 months of the year. I also know many buildings do not allow short term rentals. I am looking for some advice on simply finding potential properties. Is there any directory online that will show me these properties? Should I be talking to an agent or someone in property management? 

Also, in NY we have certain real estate companies/groups that will give a commission rebate for closing costs. Does this exist in Miami as well?

ANY advice is greatly appreciated.