All Forum Posts by: Jan Morales

I know this is an older post but I'll try to answer to the best of my ability.

Each property is supposed to have it's own "Catastro" and Parcel number to identify them. These are public record and there is a GIS Database (Portal Catastro Digital y Productos Cartográficos (crimpr.net))
where you can access this parcels to see their "Catastro number", owner, area, the assessed value for both the land and the structure for tax purposes and you should also see the date of the last sale and the price. In addition you will see this things called "Tomo", "Folio", "Finca" and "Escritura". These numbers can be used to look up any presented documents regarding that property in the State Property Registry (Registro de la propiedad). This database can be accessed on the following website: 
KARIBE (pr.gov)

Hope this helps!

@Javier Rancier I could not agree more. There’s a lot of uncertainty as it relates to the future of air-bnb. I will continue to concentrate on small multi-family unots for buy and hold and SF for flips for the time being. Great post!

 Hi Roberto, 

I am looking to grow my connections in RE in PR. I also just did my first rental investment. I tried purchasing more on a big auction this weekend but didn’t have much luck. I’ll be in PR in the next few weeks and I’ll love to grab a coffee if you’re available!

Hi all,

I recently purchased my first rental property in Puerto Rico. The property is a great candidate for the BRRRR strategy. However, I've heard refinancing can be very difficult in PR. Has anybody here had success refinancing in the past?

Thanks!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Caguas.

Purchase price: $56,500
Cash invested: $20,000

Duplex consisting of 2BR/1BTH each. House appraised for almost double the purchase price. I may look to refinance next year but I’ve heard refinancing can be difficult in PR.

What made you interested in investing in this type of deal?

Long term growth and cash flow.

How did you find this deal and how did you negotiate it?

HUD

How did you finance this deal?

Conventional mortgage with 30% down

How did you add value to the deal?

Very minor cosmetic repairs (less than $1000)

What was the outcome?

House appraised for almost double the purchase price.

Lessons learned? Challenges?

Need to be ready for financing. A lot of documents and follow up required even with excellent credit, debt to income ratio, and substantial downpayment.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes. Let me know if you’re interested. I found the hardest working, best connected agent in PR!

This will be my first meet up! Looking forward to connect and learn.

 Hi Osvaldo. I also just purchased my first rental in PR. I think that while the market is in a decline, which is great for investing, rentals should still cash flow. I am also hopeful that the market will get much better 10 yrs from now. Feel free to reach out if I can be of any help!

Hi! I just put my first property under contract and will be closing in the next few days. I found the property via HUD and the house appraised for almost double the purchase value! It's a two unit rantal property. Looking forward to build my portfolio. Please reach out if you have any questions!

Really looking to jump start my RE investment career in PR. I grew up in the island but have been living in the US for the last 13 years. Looking to build connections to start this journey from TX. I just contracted my first two unit property. Please feel free to PM to connect!