All Forum Posts by: Scott Brick

I'm a nurse practitioner looking to broaden my financial horizons. I've been following BP for years and I think it's time to take a leap into investing. The New York market seems really difficult to break into since the prices here are outrageous. I do have many ties in Puerto Rico and ultimately would like to move down there. I know the short term rental market is hot and am wondering what's the best way to start out. Any advice is greatly appreciated.

Depending where you buy on the island, the short term rental market is saturated. Additionally, I am seeing a lot of STRs now being advertised as MTR or LTR. There are several reasons for this. If the government passes the new bill advertised early last year it will potentially shut down 30% of STRs.

Aaron,

Can you elaborate on the "new bill" What exactly does it entail? Thanks Scott

Its been reported in the news for the past year, although its hard to find any PR government document that states the details. If this passes, there could create a BNB crash on PR, or move it into the black market cash business. However, it may not be able to be booked through booking platforms. only time will tell.

https://newsismybusiness.com/house-bill-looking-to-regulate-...

Thanks Aaron

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San Juan, Puerto Rico

Quote from @Aaron T.:

Quote from @Khyati Zala:

Aaron,

Can you elaborate on the "new bill" What exactly does it entail? Thanks Scott

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San Juan, Puerto Rico

HI all,

I ran a Airbnb for 3 years in Rincon Puerto Rico from 2016-2019. We sold be cause tenants sued the condo association to change bylaws to non airbnb friendly as it affected their use of condo. Long story but we sold. I have been monitoring the market for the past 3 years, and watching prices almost double. We bought our condo for $335k in 2016 with average nightly rental of $250 and now same unit is $650k with the same nightly rental. Prices are coming down some but its still crazy unless you go in all cash.

I understand Act 60 is a driving force of pricing and demand but its seems like the market is at a tipping point of saturation. Anyone have thoughts or insight on possible bubble burst in PR or numbers on ADR vs Sale Price.

thanks Scott

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All Forum Posts by: Scott Brick

Scott Brick has started 1 posts and replied 3 times.

Post: New to Investing. Looking for guidance

Post: New to Investing. Looking for guidance

Post: West Coat Puerto Rico Airbnb Bubble?