All Forum Posts by: Kathryn Morea

Jared, I have a friend who works at the VA hospital and she used to live in Utah. Feel free to dm me and I'll introduce you.

Hi Alan,

I'm in Puerto Rico as well. In the past, (on the mainland) when I've done refi's on properties that I held in my LLC's, I always had to transfer the title into my name personally, complete the refi, then transfer the property back into the LLC once the refi was over. This is on 1-4 unit residential properties where the lowest long term interest rates are applicable. We know that won't work in PR, at least not cheaply, since paying a notary .5 to 1% for each deed transfer is going to get cost prohibitive. Previously I found a local bank that would lend in my LLC. Those were business loans at a higher interest rate (5-6%), 5 year fixed (not 30), income based on Airbnb real & projected income. Those loans did not have to comply with RESPA because the property was not used as a home (Airbnb only) so the bank had more leeway with debt to income and such. That bank was very local and hard to find. There may be such a bank in PR, but as you know, far fewer choices in PR for banking. I'm curious about the bank you mentioned "One banker told us that normally those investment loans are for 15-20 year term and 6.5% - 8.5% interest rate." I'd take that deal. Were they willing to finance your Airbnb property?

Hi Veronica - I agree, the pros outweigh the cons. There is a lot of opportunity in PR and the returns are higher than I think most places I'm aware of stateside. That said, it's not for the impatient. Closings are done in person, there is no MLS to speak, running comps is clunky, financing is more challenging, and agents often refuse to co-broke or answer calls. What does that mean for an investor? Well, it's a bit like going back in time to pre internet days. That challenge weeds out the weak. It's more difficult but the inefficiency creates opportunity.

ONLINE AVAILABLE ALSO - WE WILL SEND ZOOM LINK FOR ANYONE WHO BUYS A TICKET SO YOU CAN ATTEND VIRTUALLY IF YOU PREFER

We welcome investors, wholesalers, landlords, flippers, agents and anyone in the real estate field to network on the 4th Weds each month.

This month we welcome Jeffery Watson Growing small SDIRA (Self Directed IRA) accounts or otherwise doing bigger deals by wrap lending.

From 2010 to present, Jeffery Watson has led lobbying efforts in Washington, DC on behalf of real estate investors which has brought about several changes in both government regulation and policy on distressed property purchases, taxation and resales. In Ohio he works with the Ohio Division of Real Estate on teaching compliance in the area of wholesaling real estate.

**Meeting location will be in the ballroom of an apartment building. The building is BEHIND the Caribbean Sea View apartments in Miramar. If you are facing the Carib Sea View building and look to your left (between the Carib Sea View and The Workplace at District View Office Center ) - there is a ramp that goes steeply down, take that ramp to the building behind Carib Sea View. Parking available.**

Hello John,

There are some tax credits available, most of the real estate tax credits involve tourist projects (small hotel, BnB, that sort of thing).  If you wish to learn more, please dm me, I can direct you to additional resources.

https://www.eventbrite.com/e/real-estate-investors-association-of-puerto-rico-reia-rico-tickets-161904539837

HI @Edgar Santos,

Congrats on your first rental property.  I think you are on the right track looking at affordably priced homes to build your portfolio.  Are you able to get bank financing if you put 20% down?  There are a lot of books and resources through this website for the how-to.  Even though some things are difference about investing in Puerto Rico, many things are universal, like estimating vacancy and maintenance costs.  Have you considered connecting with other investors in person?  There are lots of fb groups as well specifically for PR.  You can check my signature for my information.