All Forum Posts by: Juan Bravo

Thanks @Michael Baum ! Didn’t know where to post so just went with this forum.

Hello BP community!!!

I am in the beautiful island of Puerto Rico loving the journey of RE investing and solar energy consultant. One of the major costs here is electricity being the 2nd highest in the U.S. and its territories (~$0.30 kWh and climbing). I know that Airbnb is asking for secure energy backup for rentals and electric generators can be a nuisance and costly. I work with Tesla Powerwall battery systems and Q-cell solar panels to find cost savings solutions and energy security for your properties. Don’t hesitate to DM me if you want to have big savings and be less dependent of the grid. I offer financing and 25 years warranties on ALL of the equipment. Don’t get caught on the next electric upcharge that’s coming and the annoying power outages.

All best,

Juan Bravo

Saludos @Mike Hurney

1. The goal is to develop an agri-tourism and intensive agriculture operation. As for taxes, there's a lot of incentives and grants that make it worth it.

2. There's only 2 institutions willing to lend for farms in the island at this moment (USDA-FSA and Puerto Rico Farm Credit). The latter asks for a 30% down 15 year mortgage at 7% interest. Meanwhile, USDA-FSA will lend at 0% down 30 year mortgage at 3.4%. For both it takes 4-6 months to close in PR thus the reason why the ower prefers to owner finance and let me refinance with these institutions at my own pace.

Hi BP community!

Ok, how do I start?... I found an incredible farm that I'm trying to purchase in Puerto Rico. It is owned by a group of investors and seems like they're very motivated to sell. When talking about financing, they do not want an earnest deposit. Instead, they are saying that they will sell me the property with an owner financing to assure the sale (and not wait for a bank loan approval) of the property and after that I can start a bank loan application to get a conventional financing and get a more comfortable payment. I'm ok with this because I want the property. However they are asking for me to pay property taxes due and minus it from the sale's price. Here's where I have a problem. 

If I carry the tax debt from this property I will not have the money to pay it off right away, thus bank will not finance (because it's not free of debts) and then I will be stuck with the tougher payments from the owner financing agreed to. 

Can anyone with knowledge on the subject help out this newbie? Any advice on things to be aware of here? Any Puerto Rico RE attorneys that can help?

All best, 

Juan M. Bravo

I would look into Aguada, Aguadilla, Isabela coast (all these municipalities are side by side to each other). The problem is that, since there's no MLS you must watch for prices and get networking with friends that know the markets there. You would be surprised how much you can lower an offer at this moment.

I'm buying in Isabela. Aguadilla is pretty nice!

I'm about to close on a vacation rental property in the northwest of Puerto Rico. Seems to be a good opportunity... Wish me luck! Why? Because, apart from being a beautiful place, RE prices are pretty low.

Sinkholes in Puerto Rico are more prominent along the Northern part of the central mountain spine of the island. It is called the Puerto Rico's carsic zone and is very well protected by government thus. I am not an expert on the matter but I do know that it is not very common to see homes built on possible sinkhole prone land (unless some illegal permitting is issued). Nevertheless something really neat that I've seen is friends that have their houses on solid grounds but nearby there are some awesome caves that are part of their land! Puerto Rico's land is very varied... Check on the USGS website and you'll notice that PR has hundreds of type s of soils vs. states that have less than 10. This actually makes for the beauty of the island.

Saludos Mr. @Jeff B., 

This is the second thread I read today that shows you linking the conversation to another thread which seems like you're suggesting something wrong with Puerto Rico. I believe we are here to find opportunities for investment, don't you think? Then, please, instead of suggesting the "issues" would you be so kind to address a more thoughtful input of Puerto Rico or any other area you're interested in.

i know there's great opportunity if the island expands its tourism marketing and atracts more visitors.