I am currently renting in Mayagüez. But in a few years I am wanting to look for a house with small land large enough for guineos and other fruit trees, in the west side. I will save your hanel for later.
Purchased a home in Puerto Rico and used Banco popular to fiancé the transactions. The interest rate was high but the bank took care of everything as the owner owed back taxes and my lawyer did all the investigation into the house ownership. Appraisal and inspection was completed by the bank because they want a house that is livable and needs no work. I did a inspection of the property and made a offer that was 10K less then what the owner was asking as the house needed to be updated to my standards. I think I just got lucky but you have to be careful because there’s a lot of problems with purchasing a home.
@@stage1consulting House inspection was conducted by the the bank I did my own inspection of the house and didn’t hired anyone. I have some background in home inspection and construction. The lawyer was local to the area you need to hire a lawyer local to the area you’re buying the house from. My lawyer is local to Moca, if you’re looking in this area let me know. My advice is to buy the land and build your home instead if possible. Its going to get hard to find something under 100k but not impossible use the classified on the Internet.
@@nesq4104 average about 50K to 60k. You will spend a lot more fixing a house in need of repair. Make sure the lot is as flat as possible with a slope for water drainage. More of my friends who retired here brought their own land and build is the way to go. Go on RU-vid and look up a couple who build a off grid property here. Try to have no neighbors next to you. The property I brought I spent 50k fixing it. But I have solar and a water reservoir system and my refrigerator stay on 24 hours lesson learned from hurricane Maria. Glad to help anytime you must be handy here so take lessons from RU-vid so you can save some money.
I bought a home in punta Santiago. But never told flood zone. Contract said not in flood zone. Signed by lawyer. Every hard rain contents are flooded out costing me . Like twice a month. Plus me shocked homes are not raised in flood areas . My first home.
I must buy contents every hard rain. Getting so expensive in punta Santiago. Going broke. Still looking for who can fix drainage. Public works tried and not even get through one season not costing 1000s of dollars. Each year. Might be forced to move and lose how much money on it. Invested 30k in home keeps costing money every tropical wave. Yeah just a tropical wave lots of damages
I don’t use Facebook. I’m looking for an agent to help me fine a home. I subscribed to your channel so please keep me posted with information. I want to move back home. Thank you
Any recommendations on what bank to use for 100% loan for a lot in Puerto Rico? I have a down payment but can't come up with the reminder untill I retire in 2 years. I would love to buy something now and pay it slowly but banks in PR only offer 30% loans to buy land.
land is a bit more difficult to finance in PR. Another option would be to find something with a house already and remodel or tore it down. Send me an email to see if I can connect you with a lender. sajrealestatepr@gmail.com
Hola! New subscriber here!! I have been in the process of purchasing in PR for 4 months now. Funny u mention email my agent never answers his emails I have texted and he has replied but unless I reach out he will not. I left the Island when I was 7 yrs old now 45 ready to come back home, it’s my Paradise and Nature at its best. Thanks for sharing your adventure
You’re right. I put in an offer for a property I did my due diligence and comps in the area I didn’t go with an agent House for sale 149k the comps in the area was 115-132k. I offered 129k seller said no then I up my offer to 136k seller said no then I up it to 139k seller accepted it Appraisal came back 129k seller did not want to budge lost the deal that’s why in the contract it is very important to add contingent on appraisal I didn’t have it which I thought I did but what save me my deposit was that I denied financing. Which was a contingency in the contract
If I ever decide to move back to the island, I want YOU to be my agent. I’m fully aware of all the issues you mentioned. Living there is very different than visiting.
Would love to help if you end up moving! I have a video coming up soon about things you should know before moving to PR. When you watch it, would love to hear your thoughts. Thanks for watching!
@@JoshIsOnAMission I am moving in December but I am selling my house here in orlando now and then traveling to find a house... I know it will take a while that's why I am renting for the mean time
@@rosamuniz07 the market is crazy hot right now, everything is selling fast. That's a good idea to rent first. Do remember that due to COVID real estate transactions are taking up to 90 days in PR, sometimes more...depends on the case.
Such a sad reality. I joined the military and travelled for 35 yrs, now hoping to buy property there, but, as you stated, have ran into horrible stories with Realtors!! I was in PR about 2 yrs ago, and looking to buy in the west coast, aguada or Boquerón area so spent two days there driving and looking, etc. I expected to be helped; educated in the market and the processes by realtors since I've never owned in PR ( In the USA thats what a realtor does!! To secure a buyer and provide good customer service!).. However, the realtor chose to not answer my calls (which were mostly questions and clarification calls about down payments and banking) even though I was traveling with plenty of cash money to buy quickly.. Her loss for sure.. oh well. I still havent buy so i will be following you in FB.. thx for providing these tips and info.. The RE market in PR is like a dangerous minefield! lol
haha I just say it's a toxic environment to work in. Everyone is just in la la land with not rush to close deals or do actual work (there's a few exceptions of course and this is mostly my experience). But if you're patient enough and open, you will find what you're looking for :)
Hi Josh. Thanks for putting your business out on RU-vid. I just requested to join your FB group. What says you on financing options to buy versus cash payment? I am ready to buy a two family home but found out that I have to go to PR to apply for a mortgage. Is that true?
Just about everything you explained with real estate agents in Puerto Rico is the same in the states my friend 🤷. Maybe with an exception of answering emails that's about it.
good question! zillow has good reviews, but I feel like referrals are usually best. Send me an email and ill see if I can help sajrealestatepr@gmail.com
@@JoshIsOnAMission I meant sales agent. When any one takes the state exam you must comply with that law and many other ones. Be a Realtor is a certification. But anyone can take the class pass it and pass the State certification and be a sales agent. I was a sales agent back in 2005. Good luck.
Hi Josh! Thank you for your videos. They are so helpful and really give the insider perspective that we need. I am very seriously looking for a real estate agent in PR. Are you accepting new clients right now?
I am interested. In purchasing a home on the Northwest or West side of the island. My husband is VA eligible. Are we able to get pre approved in the states or do we have to do this in Puerto Rico?
Hi Josh, I stumbled on your video today and am very interested in reviewing more of your videos. You spoke with knowledge and proper presentation. I would like to have you assist my husband and I with purchasing our first home in the beautiful Isla del Encanto. I have jotted your email down, and hope you will respond to us in a representative time frame. Sincerely Mrs. Rivera
Back between 2013-2017 I was a Real Estate agent in Wisconsin. When writing an offer, we had the ability to put a deadline for the seller to get back to the buyers with their answer. I know PR contracts are different. Is that not an option? Also, I have heard that when purchasing, you have verbal negotiations before a written offer is even drafted. Is that correct?
Things here are just very different. You can get an answer quickly (usually) but the seller, in this case, was an investor so it benefited him to do so. I do everything in writing but some negotiations are verbal, then I required things in writing. PR is not a very e-mail friendly place yet, so most things will be done over the phone.
Josh Is On A Mission My husband and I look forward to meeting you when we come back to PR! Our goal is to move there. ❤️💜 We both love the people, culture, food and of course the island beaches etc.
I live in Maryland and I'm Puerto Rican I'm single and I want to buy a house option to buy can you get in contact with me or can you send me a link so I can get in contact with you
Super! Yo a los 18 años jamás pensé en esto así que vas bien! 1) no te quites, el primer año es fuerte, fuerte 2) consigue un buen mentor que te enseñe lo bueno y lo malo 3) ahorra, tienes Q meterle duro al mercadeo y tienes que socializar con todo el mundo. Por las clases, no te preocupes pq es mucha teoría. La práctica hace la diferencia. Siempre cosecha cosas buenas que eso vuelve para ti en bendiciones. cualquier cosa me mandas un email. Mucho éxito!
So in another words Boricua real state agents are a holes. Instead of help the customer, they just think of themselves. No wonder the island is so screwec up.1
@@JoshIsOnAMission mostly all of it to be honest...but I will keep researching. Also are the roads or infrastructure a problem with cars in most places there or only certain areas?
My experience of looking for properties has not been great. Is really difficult to find a Realtor that answer the phone. In addition the properties listed in clasificadosonline are option or sold. El proceso ha sido cuesta arriba ☹️. La información ha sido súper útil 👍🏻🙌🏻
Saludos! Honestly the real estate industry in PR is very toxic. Most people don’t want to do their jobs which is ironic cause we don’t get paid if we don’t work. I’m sorry you’ve had such a bad experience. Please reach out, maybe I can help if needed. Thank you for watching 😊
