San Juan anyone?
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San Juan anyone? (by DanNBoston [MA]) Jan 16, 2019 2:23 PM
       San Juan anyone? (by Richard [MI]) Jan 16, 2019 3:16 PM
       San Juan anyone? (by NE [PA]) Jan 16, 2019 3:35 PM
       San Juan anyone? (by Steve [MA]) Jan 16, 2019 5:55 PM
       San Juan anyone? (by AllyM [NJ]) Jan 16, 2019 7:10 PM
       San Juan anyone? (by myob [GA]) Jan 17, 2019 6:43 AM
       San Juan anyone? (by myob [GA]) Jan 17, 2019 6:52 AM
       San Juan anyone? (by Beth [WI]) Jan 17, 2019 11:48 AM
       San Juan anyone? (by Ray-N-Pa [PA]) Jan 19, 2019 3:52 PM

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San Juan anyone? (by DanNBoston [MA]) Posted on: Jan 16, 2019 2:23 PM

Anyone consider investing here in Puerto Rico. (San Juan)

Lots of major problems, but what do we do best ? Solve problems.

Anyway I'm here looking at projects and honestly feeling a bit overwhelmed by the amount of information and prices are not a bargain.

What say the masters ?

San Juan anyone? (by Richard [MI]) Posted on: Jan 16, 2019 3:16 PM

You know what they say about knowing your market.

There's some kind of tax break available for investing there. I've heard 4 percent tax but haven't checked it thoroughly.

One thing I do know is that if there's a reason for people to invest somewhere where they can make "a lot of money" all the locals know it too. Prices and deals reflect this.

San Juan anyone? (by NE [PA]) Posted on: Jan 16, 2019 3:35 PM

I don't have any roofers to recommend for you to use down there.

San Juan anyone? (by Steve [MA]) Posted on: Jan 16, 2019 5:55 PM

The head of my local LL group made several trips there looking for properties. I think in the end he decided against investing due to concerns on how poorly they were dealing with the post hurricane repairs. You might try contacting Mike at Mass real estate .net --96.237.xx.xx

San Juan anyone? (by AllyM [NJ]) Posted on: Jan 16, 2019 7:10 PM

After the Dems jaunt in PR while we wait for a wall, one reporter said that the power company is corrupt and wastes a lot of money and there are a lot of problems with it.

San Juan anyone? (by myob [GA]) Posted on: Jan 17, 2019 6:43 AM

Yes I looked into it and tried buying. Not a pleasant experience. I tried buying a VA foreclosure in OL San Juan And a condo out by Liquio Beach -- in Sandy Hills condo complex. Very time consuming-- and expensive going back and forth. Flights, rental cars, atty's, hotels and then no closings.

San Juan anyone? (by myob [GA]) Posted on: Jan 17, 2019 6:52 AM

AllyM my wife and I and family have been going to PR since 1978. My brother owned a hugh place on the beach so rent was free.

Here's one thing I took away from those visits. People in PR don't pay power bills. When you go out you see pole after pole with tie-ons-- people would climb the poles and by pass the meters-- stealing power. Ally what happens when people don't pay--- they start saying the utility is corrupt--. The people have some nerve pointing fingers I'd say--.

Sure you've read how the utility was flat broke even before the hurricane?

San Juan anyone? (by Beth [WI]) Posted on: Jan 17, 2019 11:48 AM

I heard even before the hurricane that a pretty sizable number of people had moved OUT of PR and moved to mainland US. That does not seem like a good thing when it comes to investing there. You might check the change in population. Off the top of my head I thought it had decreased 15-20%.

San Juan anyone? (by Ray-N-Pa [PA]) Posted on: Jan 19, 2019 3:52 PM

I agree with you Dan, it is harder no a days to find value added opportunities out there. Where all investments have a certain amount of risk, investing in another county adds even another layer of it. What types of rates of return were you looking at?

If you are looking for turn around opportunities, look no further than your local strip mall. How can you turn vacant spaces into an entertainment strip?

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