All Forum Posts by: Flavio Zanetti

 Thanks for the help @Ann Bellamy, I also contacted @Tim Norris to see what he could do for me - always important to stay on top of insurance quotes.

Best regards,

Flavio

@Matt Charbonneau if this is on 107 Ash I looked at this property and I liked what I saw: renovated plumbing and electrical, very well maintained plus numbers seem to make sense (4K/month rent and property taxes are not out of this world).

Location is a C- as you know and I would agree with @Will Stewart on the old adage but the gentrification is indeed happening from downtown onward.

Personally, the only reason why I didn't make an offer on this was because I made another offer in a 6 unit in Woonsocket, RI instead and working towards that as we speak.

Good luck with your deal!

@Blake Brose could not agree with you more! We had a tough time renting a 6 bedroom house in your neck of the woods (Draper, UT) last year due to low demand. 

How about your properties? Where are they located? Any in Orlando, FL or south Texas?

@Nick Trimmer did you get any agent recommendations?

@Victor Chico 100% agree that Puerto Ricans are treated like second class citizens and this has to change one way or another!!! 

We can hope for the best of course.

Flavio

Having a few, perhaps a lot of Boricua friends, who live in the continent (Boston and NYC), I would imagine the latter solution is a more likely solution for Puerto Rico. There are major disadvantages you guys have to go through - if not put up with - of being a territory and it is already time for the US as country to do something as we all agree! 

If a plebiscite is likely, let us not follow Britain and their wishes to separate - united we are much stronger!!!

Good luck on your investments down there Victor - I have tried to get into the vacation rentals down there - Condado, Luquillo, Isla Verde, etc. but I had cold feet at occupancy rates as I wanted to finance the deal... 

Very interested to hear about what's next for PR!

Flavio

I would say it is not UNLESS there is significant appreciation opportunities at play here. 

You are welcome to use our tools:

https://www.biggerpockets.com/real-estate-investme...

and drive your own conclusions too...

My very best rule of thumb for signs of gentrification is a Starbucks moving in... They are usually a year or two ahead of the market when it comes to gentrification and higher prices. 

Also, they do have a great team of real estate experts and researchers looking and studying communities before they open a store. 

Keep your eyes open for that green store opening up!

Michael,

This has been discussed multiple times here: 

https://www.biggerpockets.com/forums/52/topics/814...

I personally use Citizens Bank, Santander, and one checking account for each multi rental I got. 

I don't do Quickbooks though (one spreadsheet for each property), so can't comment on that...

Flavio

Also keep in mind that if you quit claim deed towards your LLC, there is always a risk of the bank demanding payment - this has been discussed here multiple times:

https://www.biggerpockets.com/forums/50/topics/203...

Flavio