All Forum Posts by: Gene Maltsev

Hi Everyone! I'd be curious to know what the short-term rental season looks like in Ft-Myers, Naples, Cape Coral area? I mean is it dead 6-9 months out of the year or what? I do short-term rentals up north but that's an entirely different market.

Can anyone provide further comment on good/bad areas, crime rates, etc? Also, I've heard that financing in CR is really expensive. Are there local/foreign banks that lend to US residents? What are some things to watch out for before considering purchasing an investment property? Where is the best place to look? TIA!

Hi @Raquel, I know this is an ancient post, but I'm just curious to find out if anyone responded to your post in a private message?

I too would love to find a landlord (in a city on the east coast) that would be amenable to your terms...trust me, I've asked around!

Thanks,

Gene

@Eric Perez I own and manage an airbnb property myself - have been doing so for the past couple of years. If your numbers are correct, your ROI is roughly 68% annually. I don't know about you, but that's pretty darn good, if you ask me :)

Now, I do have a question for you, however. Why do you choose to advertise your listing on FB? Have you figured that the ROI is worth the cost of marketing?

Hey Patrick!

I just checked out your website and sent you a message. When you have a moment, I'd like to connect and learn more about what it is that you do.

Thanks in advance!

Gene

Hello fellow BP-ers!

I have been looking to acquire a small property in San Juan and to my disappointment haven't been able to find any articles relating to costs of remodeling. Does anyone here know of any contractors or have any sense of the average cost to renovate in PR? I know that a lot will largely depend on materials used. But, here again, I'm not too sure about cost of materials compared to that of mainland US. Does anyone have any info? Could anyone shed some light and educate me, please?

On a side note, if any of you have any sort of contacts that are in RE on the island, I would love to speak to them and get their (or your) 2 cents on the market trend, financing, evaluation, etc.

Thanks in advance!

Hi Kenny, welcome to BP! I'm in the same boat as you - live in Alhambra and work in S. California - although I'm only now starting to read up on strategies. Currently reading FLIP by Rick Villani and Clay Davis, The Book on Investing in Real Estate with No Money Down by Brandon Turner and The Preforclosure Property Investor's Kit. I live in Alhambra and own a business which operates on weekends only. So, naturally, I'm looking to supplement my income and add to my weekly responsibilities.

I'd love to get into REI but it's difficult because CA has a high barrier to entry. I mean, cost of acquisition here is unbelievably high. Plus, from what I've been reading on BP blogs, cash-flow positive deals are really hard to come by nowadays in Southern California.

I'm open to any ideas and opportunities so long as they will enable me to learn and generate a modest return.

Feel free to keep in touch and let us know if come across anything interesting.

Cheers!

Hi All!

I'm somewhat of a newbie to BP and looking at REI opportunities in PR. I have a few ideas like flipping or vacation rentals but nothing set in stone as I don't know the market that well yet. Would any of you be willing to connect via phone or skype to discuss a few questions and/or ideas regarding the current market, rules and regs on the island? I would love to speak to anyone who's gone through financing, buying, renting, etc. any and all experience would be tremendously helpful.

Thank you all in advance!

Hi All!

Can someone explain how the mortgage process works down there? I mean, I've heard that obtaining a mortgage from a US bank is next to impossible, even though they all say that they operate in PR. 

Are there any issues one should watch out for? Are there limitations on amounts? FHA? etc.

I was recently looking at a mixed use building with retail on the first and residential on the top two floors. I was wondering how difficult it would be to obtain 1. mortgage for 600k 2. hotel license 3. liquor license 4. food license.

Thank you all in advance!

What category would adding another level/story fall under? Would the building need to be rezoned/reassessed? 

When you say "adding another level is easy", do you mean constructing an additional level (which I can also easily assume is not difficult). My question is: would the building require any special permits? How difficult would it be to obtain them? Would the building need to get rezoned from R1 to R2?

I would imagine that if one were to expand horizontally (like expand foundation and build or attach a new structure to an existing one), one would need to survey land...and this would more or less be considered along the lines of "new construction." 

However, if I wanted to build vertically, upon an existing structure, what would be required?

Thank you again!