All Forum Posts by: Meleneal Cameron

Thanks for the info Dennis I appreciate it.  Last time I was there was back in 2016. I have a friend who is a Real Estate Broker and Investor down there - of course, he's saying now is the perfect time to purchase.  I'm interested in the Luquillo area. Just recently read an article where Puerto was listed #3 out of 30 Top home buying destinations in America.  Just trying to gather unbiased feedback.

Hello, I was wondering if anyone could share tips on buying property/ investing in Puerto Rico after the flood, what to look out for/watch out for, where to buy, share networking info or anything relevant to investing?  It would be greatly appreciated.  I am looking to buy small home or duplex for renting out.  Thanks in advance

I do keep up with crime stats - over the summer there were lots of crime/shooting due to gang factions/fighting in the area. It's a shame because it's very patchy - you've got some beautiful blocks, then crime ridden blocks mingled in.   I do know that there is a high concentration of section 8 tenants in the area also.  

I also know that there plans to revitalize since it's near Chicago University and with the Obama Library which will be in the Jackson Park area that's close

Thank you all for the advice!  Really appreciated! I am taking action.

I have walked away, properties in certain areas in Illinois are like that... Where prices are extremely attractive but taxes too high.  I've seen gorgeous dream homes in the low $100,000s with taxes between $8,000-$18,000 annually.  I am open to possible solutions as to how buying something with taxes that high would work. But I don't see the opportunity in it.

Thanks Dave for you help.  Yes, so I need to need to find out the specifics around "beneficiary"

First of all forgive me if my legalese is not on point.... My mom bought a home back in the early 1990s, afterwards got married and her husband moved in with her.  She never felt comfortable putting his name on the deed of the home.  However, she recorded all 3 of her children as beneficiaries. She passed in early 2014 and my step dad stayed in the home and remarried within a year. He asked if we would be willing to sign legal administration papers drawn up by his attorney where we would him rights to the property. From there, he wanted to write his new wife into this agreement so that if something happened to him she would get the property.  I flat out said "no, perhaps your new wife can share your retirement, pensions, etc, but not the equity in my mom's house."  At the time my mom passed she owed only $14,000 on the house.  I just recently found out my stepdad has paid the loan off.  The home is in great condition and in a great community.  We are not upset with my stepdad, plus he's now in his mid 80's - we thought it would be wrong to attempt to force him to move this late in his life.  My concern is how can we protect my mom's investment and her original intention to pass on her wealth to her children? She never created a will, she only recorded us as beneficiaries.  Thanks in advance for your advice

I know several professional contractors. I'd be happy to share. Is this for ongoing projects?

Thanks, I appreciate your input 

I am wondering if anyone can share insight on what assignment of mortgage means?  I've been scoping out a rental property that's been on the market for over a year.  When I looked up the PIN # I discovered that it was purchased back in 2015 under an assignment of mortgage.  I'm interested in the property and wondering what creative options may be available to me to take this property of the seller's hands.  Currently the seller has a realtor involved. Can anyone give me insight on possible pitfalls to lookout for and or strategies on owning this property?