Learn how to buy property in Puerto Rico and turn it into Airbnb to make thousands of dollars on an investment property 💰 🏠 🏖️
Are you new to real estate investing? Listen to this video as I explain how I found and bought a condo in San Juan, Puerto Rico. Then how I turned it into an Airbnb to cash flow.
I also use this 1-bedroom apartment for myself when I travel and vacation in Puerto Rico. I found and bought this place in Condado San Juan in early 2021. Within a few months I bought it all cash for $150,000. Getting a loan or mortgage can be very difficult and high-interest. I suggest paying cash if possible. We then setup all utilities, did a deep clean, bought new supplies and technology for the apartment.
I used a local realtor and paid her cash to help and wrote that off as an expense for my RE Investment company. Everything else I invested into the property I was also able to write off, including utilities, supplies, and more. From there I setup the utilities such as gas, electric, internet and water. We do have $100/month condo/HOA fee that I prepay annually.
This property operating costs is $500/month + another 10% for management and cleaning fees. At a minimum I have this is rented 75% monthly at a minimum of $100/night for $2250/month - $225 for management and cleaning - $100 for supplies - $500 for utilities and HOA = $1525 profit per month x 11 months because I live there 1 month per year. Therefore, this property profits over $16,000/year. This means I'll have this fully paid off in less than 10 years and be fully cash flowing.
I have been doing Airbnb Arbitrage as well for nearly 10 years since I left college. In some of my apartments I'd rent an extra room such as the basement or a study, and setup that room for Airbnb with everything it needed. This process allows you to arbitrage the rental unit and live for free. It's not easy and takes some time, but if you arbitrage a room in your house you have to manage and clean it, but you live rent free.
Our property is a very clean and beautiful 1-bedroom unit near La Placita in Santurce only 5 blocks from the beach in Condado. Its a very popular touristy area that gets tons of views and rentals. Its important to get 5-star reviews and have great communication to become an Airbnb Superhost. Then you will show up higher and get more renters at higher rates meaning more profits.
Thanks for watching.
Here is our Airbnb Listing = airbnb.com/h/1...
5 сен 2024
