All Forum Posts by: Daniel Vazquez

In my personal experience I've called the asset manager to explain that I have a buyer who qualifies for a little bit les than the 10-15% net and they have told me that they will reduce the price to match my buyer's pre-qualification so that the offer can be approved. Trust me, this is how I've done it twice and it worked.

I'm a Real Estate Broker from Puerto Rico who wants to get involved with anyone in Atlanta with the purpose of flipping homes or go for opportunities. With more than 10 years of experience I think that I can be very helpful to anyone in the Real Estate Industry.

I wish you can make it and my advice is that once you make it try to find someone willing to purchase from you "as-is" so you don' t have to fix it. If you think you can get 3 to 4 times more than what you paid for instead of dealing with reno, construction permits, contractors, etc.

Personal experience,

last year I bid $75k for a HUD property that was listed at $80k. The HUD's administrative tools kept reading "under review" for five days so I decided to call the asset manager who told me that the property was going to be taken out of the market. A week later I went to HUD's website again and clicked on bid results just to find out it was sold to another in $20K. I didn't wanted to start an issue on this matter but this is very common in Puerto Rico. Ah! and the buyer is an investment LLC in USA which then hires a local Real Estate Agent with a power of attorney to represent their company to resell the properties the buy. Who has such a power to do those kinds of things?

We finally bought the house from then for $70k :-)

Hi,

I'm from Puerto Rico and over there what you do is go to State Property Record Office with basic information of the property, if you can get a copy of the legal description of the subject property neighbors the house before and after the subject it will help you greatly.With that information they can help you ID who was the last owner and also if there are other pending collections on record attached to the property such as second mortgage,etc. You must try to get the Tax ID number to request an updated pending property taxes if any.

Can you share with us how much you bought it for and how much is expected to sale?

So basically you'll get the house for less than $3K?

Do private investors lend money to purchase properties in Puerto Rico?

I'll put several apple&cinnamon candles or better yet there are air fresheners that you twist and leave on different spots of the property.