Thank you so much. I’m considering buying in PR. I am Puerto Rican but born in the states. I’m wondering if there are residency requirements, my grandfather lives there but I haven’t . he has land and id love to keep it in the but i don't know anything about that either. Even if I buy as a family vacation home, I’d like to buy. How do you find good lawyers and real estate agents? like a check list of what to look for? How much money would you say is needed to start ? I’m a single woman in my 40s .. how about buying a condo with amenities vs a house ?
There are no ex-pats in Puerto Rico since ALL Puerto Ricans are American Citizens. Moving to Puerto Rico is the same as moving within the continental U.S.
Technically this is true. But that is not how it really works in real life. The terminology used in Puerto Rico doesn't reflect this. If it was true you wouldn't call them Puerto Ricans you'd just call them Americans. In mainland America you don't refer to people by the state they are from as well.
Puerto Rico is still it's own country but also a territory of the United States. The people of Puerto Rico have dual citizenship. They are Puerto Rican and an "American" citizen. As an American born in any state you're simply "American" citizen.
@@xmarine73territory or a colony is a watered version of colonialism which is slavery. Colonialism has trashed the Island, drugs guns and daily murders, political corruption is your norm on this beautiful Island, it’s a shame.
@@masterdeeable1 First, let me just say... I'm not even sure why you're responding to me in particular nor with the content of your response. It has nothing to do with my comment. However... You believe that the people of Puerto Rico are enslaved? Really? Who is enslaving them? Political corruption is the norm in PR but it's the norm similar to that of Central American countries. After all, PR elects their own Governor. He's part of the New Progressive Party, which isn't even one of the party "norms" for the US. He's a Puerto Rican through and through. The politics of the US and PR don't intermingle. The drugs and guns are a byproduct of that corruption. The people of PR need to deal with it. Even with that being the case the crime rate in Texas, for example, is statistically worse. So I'm not sure what you're going on about other than just spouting BS.
@@xmarine73 sir or Ma’am you are correct my comment was not intended towards you, it was and error on my behalf however, I will respond to your comment with truth and facts that cannot be denied, guns, drugs are not manufactured in Rich Port ( named Porto Rico by the European devils). Again Colonialism is slavery, read the Jones act to name a few. Commonwealth does not allow so called Puerto Ricans to vote for the presidency on the Island, only outside the Island. Political corruption has been in effect for over 100 years, and technically 400 years in all by 2 Caucasian nations in Spain 🇪🇸 and Amerikkka 🇺🇸 the most corrupt super power in the world. Btw in the 100 years of governors, most in all were hand picked by America. Drugs and guns are a by product placed on the Island, the same way they are brought in to Black and Brown neighborhoods in the US, as well as the bad food and poisoned water (city of Flint Michigan and NJ). It is not by coincidence, it’s all by design. No BS look up the facts, besides the US government intentionally tries to keep Americans deaf dumb and blind with its lies and policies by controlling the press and media.
I appreciate all the information you had given me about houses in Puerto Rico for many years. I’ve been trying to get to buy a home in Puerto Rico. I knew some part, but you gave me more information that I knew. I appreciate all the information that you have given me and I’m gonna go and look into itand get all the information that I need to purchase a home in Puerto Rico I thank you so much and I hope you get more prescribers in your website. Thank you.
Thanks for watching I'm glad you are finding value. We are thinking about selling this house buy something else. So let me know if you want to buy my house that is already done.
The only thing you will learn on CRIM website are the sellers name, the owners name, if they are exempt from land taxes, o and the dates when purchased.
@@tachon12345 You can if the property has been parceled off too. Sometimes they haven't been separated and someone is trying to sell a piece of a larger property.
Around 9:30 U asked if it's worth it to pay a buyers agent? and U said it depends how skilled you are at buying real estate and finding "coms, or comps ??" (whatever those are), and that you could make an entire video on that.... YES, THAT WOULD BE A GREAT VIDEO !!!!
Can you talk about how loans are different in Puerto Rico, CRIM, inheritance laws, etc. Prices are outrageous on land, houses and most wont even qualify for a loan.
Inheritance forget about it. Speak with three attorneys get three different answers. Parents died with CD in Puerto Rico yeah its gone. Lawyers say one thing bank personal another. One a certain time has passed it goes to some other gov't agency. OCIF is the one. Land another can of worm. You will need deep pockets someone you can trust and someone with connections..
Thank you! I will try to do better. I want to make more than just PR content, but I know a lot of my subscribers are here for the PR stuff. So I try to keep it balanced.
rental income was down everywhere in 2023 I also have rentals in FL and they were all down about the same. But, still made money. I have one for sale in Panama City Beach, FL if you're interested.
Wages are low in PR and high in FL but if you want to retire in PR with money you made in FL it may be an option. I had a video I working on about the costs to retire in PR but it got deleted after I spent a ton of time on it. I will have to start over because it was a really good video.
@@davidwelty9763 I don't know a lot about it. But, I know a little. The price of health care seems lower. but the quality seems to depend on what care you need. I've heard some mixed reports. For major stuff I think a lot of people go to the mainland. For normal stuff I think its fine.
@@davidwelty9763 something that needs to be mentioned as well is that people who come from outside and invest in real estate in PR save thousands of dollars in taxes because the tax percentage for these individuals is way lower than what it would be for locals. Crazy huh? One of the reasons us Puertoricans HAVE to leave the island is because outsiders come to invest and therefore, rents and housing in general is almost impossible to attain because wages are too low. There’s much more than just coming to PR to invest. But again, investors like this guy won’t tell you that cause it doesn’t affect them.
@theretirementality - I have a question, are there any good sites for real estate or properties that have been foreclosed or back taxes. I feel like Classificados is kind of a last resort, and that its really hard to look around without being there. Any advice or suggestions??
Not that I know of. Most properties in PR that are empty are because of the complicated inheritance rules. And that is a mess you don't even want to bother with. I'm not sure how you'd find foreclosed properties.
I'm trying to get back into posting more. Thanks for sticking around Darrell. No I'm in FL now. For some reason I felt like I needed to be in PR to post about PR and I get a lot of requests for more info on PR. So I decided I needed to just post info no matter where I am.
@TheRetirementality Love the content! 💯👍🏼Yes, please create tutorial video (s) on the workings of CRIM, Inheritance Law issues, Land Trusts, and tips that would help us avoid pitfalls while investing in PR real estate.
You know what would be even more amazing? If people who have lived in PR all their life could afford to buy (or even rent!) a house on the island. Prices down here have skyrocketed, largely due to this great "interest" in PR real estate. So...you know...welcome to paradise or whatnot.
What's the deal with going to the seller's bank and paying off their loan/mortgage on closing day? Is that really widely practiced or just what some people practice? Why is this done? It may be helpful to point out that even if you get a lawyer that speaks both English and Spanish, if they are biased towards the sellers, they will only speak Spanish with them in front of you at closing and not explain what they are saying to you in English.
I'm not sure about the bank thing. The seller we bought from didn't have a loan so we didn't do that. I was sure to pick my own lawyer and not one recommended by the sellers agent.
Hi wondering if you know how long does it take to separate the property in Puerto Rico I been waiting for 2 years and still not yet receive approval from town.
Ugg. I have no idea. I know it over a year for me to show up as the owner of my house after I bought it. I started to get scared that maybe I did something wrong or someone scammed me and I didn't actually own it. But then I got a bill to pay the taxes... even though I STILL didn't show up on the website as the owner.
The short answer is $50K for the whole backyard. But, I did a whole video on the cost of everything if you look at my home page I have a section of videos on this house.
Love your video energy❤ and entrepreneurial insights I would love to contact you to see how we can both profit from this entrepreneurship. Thanks, Dan Belsky.
It really depends on the area. There aren't a lot of high priced homes around me. But if you drive 15 min over to Palmas del Mar they are all high priced.
@@TheRetirementality I love data and the questions it generates. I wonder if PR publishes data on the number of units sold in price bands, how long on the market, with or without a realtor, etc…. I know there is one channel that constantly complains of abandoned properties being sold and resold, rents going up etc…. But there is a shitton of abandoned, unoccupied or unused housing there.
And you want to see the property so you know what exactly you are purchasing... you ha e to be careful of scams just like anywhere else. Pictures of places are a dime a dozen.
The default audio volume is a little low might want to try to raise it up some had laptop and youtube on max volume and was having issues but then again I may just be old too :) .. Good content thanks! Tell your lawyer they need to start charging for advice/inquiries :D
Any study that shows prices are going higher because of low inventory is completely useless.. inventory goes up and down but mostly after the pandemic, INVENTORY is going up EVERYWHERE.. and as people who bought a home when the economy was getting that Pandemic money, is now losing thier job or having to move.. guess what.. Inventory is going to EXPLODE.. how that will effect prices is typical.. people have more choices and more leverage in negotiating a price, also, if you want as a seller to get traffic to view your property.. be prepared to take a HAIR CUT on the price.. and I see that trend going for many years to come. The Pandemic FREE MONEY DAYS ARE OVER.. BANKS ARE RELUCTANT TO MAKE LOANS.. CASH IS KING.
I'd say it really depends on the location. But, I don't see prices coming down. I saw really interesting video today about inventory levels in the US. And you can use one graph to that inventory is up 57% in Florida versus last year. But if you look at the inventory levels the year before covid hit then todays inventory level is 17% lower than pre covid levels. We shall see. But, I've been saying prices wont come down for 4 years and people have been telling me I was wrong. I have also been saying for 3 years that normal interest rate levels are around 6.5%. But, no one wants to hear these things.
I have looked at various properties in Puerto Rico over the last few months none of them show an increase in value all of them show a decrease of the asking price Soma few thousand some 10,000 this makes me hesitant on buying anything in Puerto Rico right now
@@TheRetirementality People should be careful about "scriptures" and see the place in person because of parking. I javw lived here 7 years and house hunting 3 years. It's a mess. I wish they would do something about the laws... I heard they were toying with a 5 years squatters rights on abandoned properties but nothing more lately.
@@virginiasmith1336 Prices are going up for sure. I've been doing videos for the past three years saying prices are going up and people have been telling me I'm stupid because a crash is coming. But, so far I've been right.
@@virginiasmith1336 Yea, I'm not sure if squatting is too big of a problem. I'm looking at property in Spain right now and it is a HUGE problem over there.
@@TheRetirementality I disagree. I'm looking at both West Palm Beach and Puerto Rico and WPB is cheaper, nicer and more safe. Better roads, better infrastructure, no power outages...
![Jack Harlow - Hello Miss Johnson [Official Music Video]](http://i.ytimg.com/vi/Q86_nlRoIGw/mqdefault.jpg)
Thank you so much. I’m considering buying in PR. I am Puerto Rican but born in the states. I’m wondering if there are residency requirements, my grandfather lives there but I haven’t . he has land and id love to keep it in the but i don't know anything about that either. Even if I buy as a family vacation home, I’d like to buy. How do you find good lawyers and real estate agents? like a check list of what to look for? How much money would you say is needed to start ? I’m a single woman in my 40s .. how about buying a condo with amenities vs a house ?
There are no ex-pats in Puerto Rico since ALL Puerto Ricans are American Citizens. Moving to Puerto Rico is the same as moving within the continental U.S.
Technically this is true. But that is not how it really works in real life. The terminology used in Puerto Rico doesn't reflect this. If it was true you wouldn't call them Puerto Ricans you'd just call them Americans. In mainland America you don't refer to people by the state they are from as well.
Puerto Rico is still it's own country but also a territory of the United States.
The people of Puerto Rico have dual citizenship. They are Puerto Rican and an "American" citizen. As an American born in any state you're simply "American" citizen.
@@xmarine73territory or a colony is a watered version of colonialism which is slavery. Colonialism has trashed the Island, drugs guns and daily murders, political corruption is your norm on this beautiful Island, it’s a shame.
@@masterdeeable1 First, let me just say... I'm not even sure why you're responding to me in particular nor with the content of your response. It has nothing to do with my comment. However...
You believe that the people of Puerto Rico are enslaved? Really? Who is enslaving them?
Political corruption is the norm in PR but it's the norm similar to that of Central American countries. After all, PR elects their own Governor. He's part of the New Progressive Party, which isn't even one of the party "norms" for the US. He's a Puerto Rican through and through. The politics of the US and PR don't intermingle.
The drugs and guns are a byproduct of that corruption. The people of PR need to deal with it. Even with that being the case the crime rate in Texas, for example, is statistically worse.
So I'm not sure what you're going on about other than just spouting BS.
@@xmarine73 sir or Ma’am you are correct my comment was not intended towards you, it was and error on my behalf however, I will respond to your comment with truth and facts that cannot be denied, guns, drugs are not manufactured in Rich Port ( named Porto Rico by the European devils). Again Colonialism is slavery, read the Jones act to name a few. Commonwealth does not allow so called Puerto Ricans to vote for the presidency on the Island, only outside the Island. Political corruption has been in effect for over 100 years, and technically 400 years in all by 2 Caucasian nations in Spain 🇪🇸 and Amerikkka 🇺🇸 the most corrupt super power in the world. Btw in the 100 years of governors, most in all were hand picked by America. Drugs and guns are a by product placed on the Island, the same way they are brought in to Black and Brown neighborhoods in the US, as well as the bad food and poisoned water (city of Flint Michigan and NJ). It is not by coincidence, it’s all by design. No BS look up the facts, besides the US government intentionally tries to keep Americans deaf dumb and blind with its lies and policies by controlling the press and media.
I appreciate all the information you had given me about houses in Puerto Rico for many years. I’ve been trying to get to buy a home in Puerto Rico. I knew some part, but you gave me more information that I knew. I appreciate all the information that you have given me and I’m gonna go and look into itand get all the information that I need to purchase a home in Puerto Rico I thank you so much and I hope you get more prescribers in your website. Thank you.
Thanks for watching I'm glad you are finding value. We are thinking about selling this house buy something else. So let me know if you want to buy my house that is already done.
I'm interested in learning more about CRIM and checking the property's legal status.
Yea, this is an important topic. So I think I will make another video about this topic.
The only thing you will learn on CRIM website are the sellers name, the owners name, if they are exempt from land taxes, o and the dates when purchased.
@@tachon12345 You can if the property has been parceled off too. Sometimes they haven't been separated and someone is trying to sell a piece of a larger property.
Around 9:30 U asked if it's worth it to pay a buyers agent? and U said it depends how skilled you are at buying real estate and finding "coms, or comps ??" (whatever those are), and that you could make an entire video on that.... YES, THAT WOULD BE A GREAT VIDEO !!!!
I am interested in all of the real estate insights! the more information you can provide, the better. Thank you in advance.
Hey Nathan, thanks for watching. There will be more coming for sure.
PR is an overall good/affordable alternative to Florida and insurance is optional
And insurance is much more affordable. My house in FL is $6200 and my house in PR is $1800
Can you talk about how loans are different in Puerto Rico, CRIM, inheritance laws, etc. Prices are outrageous on land, houses and most wont even qualify for a loan.
Yea, I was thinking about doing an interview with a lender to cover loans in depth. And I do talk more about the CRIM for sure.
That’s a great idea.
Inheritance forget about it. Speak with three attorneys get three different answers. Parents died with CD in Puerto Rico yeah its gone. Lawyers say one thing bank personal another. One a certain time has passed it goes to some other gov't agency. OCIF is the one. Land another can of worm.
You will need deep pockets someone you can trust and someone with connections..
Your videos are super helpful and appreciated 😊
Can you give me the top 10 expat communities?
He literally mentioned them a few times in the video.
Great video! I’ve watched your videos for about 2 years now. 👌🏽
Thank you... and thank you for the support over 2 years.
Your videos on PR have been very helpful, more content would be great, thanks!
Thank you! I will try to do better. I want to make more than just PR content, but I know a lot of my subscribers are here for the PR stuff. So I try to keep it balanced.
Great info...thanks for sharing!
You bet. I've got lots of videos on the subject
Yes l please do the video with the Crim information!
looking to buy in San Juan for rental / income , not sure if PR is the best spot or mexico or simply the USA, but i was told Puerto rico is great
rental income was down everywhere in 2023 I also have rentals in FL and they were all down about the same. But, still made money. I have one for sale in Panama City Beach, FL if you're interested.
Why are you selling ?
@@omara7118 I'm selling 2 of my 6 properties to buy something in Spain.
Hi! Opinion on Cabo Rojo?
This is interesting to me because I live in Florida and for the last 10 years people have been leaving PR for Florida by the thousands.
Wages are low in PR and high in FL but if you want to retire in PR with money you made in FL it may be an option. I had a video I working on about the costs to retire in PR but it got deleted after I spent a ton of time on it. I will have to start over because it was a really good video.
@@TheRetirementalityok, that makes sense. As retirees don’t need jobs. How is healthcare there?
@@davidwelty9763 I don't know a lot about it. But, I know a little. The price of health care seems lower. but the quality seems to depend on what care you need. I've heard some mixed reports. For major stuff I think a lot of people go to the mainland. For normal stuff I think its fine.
@@davidwelty9763 something that needs to be mentioned as well is that people who come from outside and invest in real estate in PR save thousands of dollars in taxes because the tax percentage for these individuals is way lower than what it would be for locals. Crazy huh? One of the reasons us Puertoricans HAVE to leave the island is because outsiders come to invest and therefore, rents and housing in general is almost impossible to attain because wages are too low. There’s much more than just coming to PR to invest. But again, investors like this guy won’t tell you that cause it doesn’t affect them.
And after Maria in 2017 the migration to FL was exacerbated. PR had no power for months!
Great information…. Need a little more of a breakdown in terms of purchasing a house or condo
Biggest difference is HOA. You need to make sure it is fully funded and doesn't have a lot of people who aren't paying in the building.
@theretirementality - I have a question, are there any good sites for real estate or properties that have been foreclosed or back taxes. I feel like Classificados is kind of a last resort, and that its really hard to look around without being there. Any advice or suggestions??
Not that I know of. Most properties in PR that are empty are because of the complicated inheritance rules. And that is a mess you don't even want to bother with. I'm not sure how you'd find foreclosed properties.
Did you use an online search for the house you bought there or was it just driving around?
I would love to see you post more frequently. You mentioned leaving Florida, are you back in Puerto Rico now?
I'm trying to get back into posting more. Thanks for sticking around Darrell. No I'm in FL now. For some reason I felt like I needed to be in PR to post about PR and I get a lot of requests for more info on PR. So I decided I needed to just post info no matter where I am.
@TheRetirementality Love the content! 💯👍🏼Yes, please create tutorial video (s) on the workings of CRIM, Inheritance Law issues, Land Trusts, and tips that would help us avoid pitfalls while investing in PR real estate.
You know what would be even more amazing? If people who have lived in PR all their life could afford to buy (or even rent!) a house on the island. Prices down here have skyrocketed, largely due to this great "interest" in PR real estate. So...you know...welcome to paradise or whatnot.
@@guachupita378 Almost every Home has a millón dollar view. You are so fucked.
Bro im paying 700 per month to not have light every now and then, this place suckss
What's the deal with going to the seller's bank and paying off their loan/mortgage on closing day? Is that really widely practiced or just what some people practice? Why is this done? It may be helpful to point out that even if you get a lawyer that speaks both English and Spanish, if they are biased towards the sellers, they will only speak Spanish with them in front of you at closing and not explain what they are saying to you in English.
I'm not sure about the bank thing. The seller we bought from didn't have a loan so we didn't do that. I was sure to pick my own lawyer and not one recommended by the sellers agent.
Thanks for all this info!🏘 very interesting
You're welcome
Hi wondering if you know how long does it take to separate the property in Puerto Rico I been waiting for 2 years and still not yet receive approval from town.
Ugg. I have no idea. I know it over a year for me to show up as the owner of my house after I bought it. I started to get scared that maybe I did something wrong or someone scammed me and I didn't actually own it. But then I got a bill to pay the taxes... even though I STILL didn't show up on the website as the owner.
How much did the pool cost ? if you don’t mind me asking
The short answer is $50K for the whole backyard. But, I did a whole video on the cost of everything if you look at my home page I have a section of videos on this house.
Love your video energy❤ and entrepreneurial insights I would love to contact you to see how we can both profit from this entrepreneurship. Thanks, Dan Belsky.
Hey Dan, I just subscribed to your channel. We should connect next time I'm in PR. I just subscribed to your channel.
Video on CRIM search would be most helpful.
Could the decrease in transaction price be due to more lower priced properties being sold compared to fewer high priced properties?
It really depends on the area. There aren't a lot of high priced homes around me. But if you drive 15 min over to Palmas del Mar they are all high priced.
@@TheRetirementality I love data and the questions it generates. I wonder if PR publishes data on the number of units sold in price bands, how long on the market, with or without a realtor, etc…. I know there is one channel that constantly complains of abandoned properties being sold and resold, rents going up etc…. But there is a shitton of abandoned, unoccupied or unused housing there.
can you get a lawyer & financing state side or have to do everything in PR
No. You need to everything in PR.
And you want to see the property so you know what exactly you are purchasing... you ha e to be careful of scams just like anywhere else. Pictures of places are a dime a dozen.
Where did you buy in PR ?
In Humacao
how do we find a buyer agents or do I hire a lawyer to help???
Perfect question I always see ppl say to get one but never how
great info thank you
Thank YOU for watching.
The default audio volume is a little low might want to try to raise it up some had laptop and youtube on max volume and was having issues but then again I may just be old too :) .. Good content thanks! Tell your lawyer they need to start charging for advice/inquiries :D
I'll check the volume on the next one. Thanks. And thanks for watching. 😁
Aguadilla it's very good are
The cost of living is high in Puerto Rico.
Yea, the cost of groceries and gas and every day things is high.
Any study that shows prices are going higher because of low inventory is completely useless.. inventory goes up and down but mostly after the pandemic, INVENTORY is going up EVERYWHERE.. and as people who bought a home when the economy was getting that Pandemic money, is now losing thier job or having to move.. guess what.. Inventory is going to EXPLODE.. how that will effect prices is typical.. people have more choices and more leverage in negotiating a price, also, if you want as a seller to get traffic to view your property.. be prepared to take a HAIR CUT on the price.. and I see that trend going for many years to come. The Pandemic FREE MONEY DAYS ARE OVER.. BANKS ARE RELUCTANT TO MAKE LOANS.. CASH IS KING.
I'd say it really depends on the location. But, I don't see prices coming down. I saw really interesting video today about inventory levels in the US. And you can use one graph to that inventory is up 57% in Florida versus last year. But if you look at the inventory levels the year before covid hit then todays inventory level is 17% lower than pre covid levels. We shall see. But, I've been saying prices wont come down for 4 years and people have been telling me I was wrong. I have also been saying for 3 years that normal interest rate levels are around 6.5%. But, no one wants to hear these things.
I have looked at various properties in Puerto Rico over the last few months none of them show an increase in value all of them show a decrease of the asking price Soma few thousand some 10,000 this makes me hesitant on buying anything in Puerto Rico right now
Tha's interesting. I haven't been looking at prices lately. I always say, "all real estate is local". What are are you looking at?
I like you
And all the abandoned properties....
Yea, but because the messed up inheritance laws, most them won't ever hit the market.
@@TheRetirementality People should be careful about "scriptures" and see the place in person because of parking. I javw lived here 7 years and house hunting 3 years. It's a mess. I wish they would do something about the laws... I heard they were toying with a 5 years squatters rights on abandoned properties but nothing more lately.
My husband gor burned in work accident here last April... we been trying to buy something but even solars are outrageous. 🥺
@@virginiasmith1336 Prices are going up for sure. I've been doing videos for the past three years saying prices are going up and people have been telling me I'm stupid because a crash is coming. But, so far I've been right.
@@virginiasmith1336 Yea, I'm not sure if squatting is too big of a problem. I'm looking at property in Spain right now and it is a HUGE problem over there.
Lol... prices are ridiculous
Housing is still a lot cheap than where I live in FL but cost of living isn't cheap.
@@TheRetirementality I disagree. I'm looking at both West Palm Beach and Puerto Rico and WPB is cheaper, nicer and more safe. Better roads, better infrastructure, no power outages...
Ah... I thoughtyour wife had a spanish speaking sound about her, but she isn't latina, she's spaniard...
That is correct.
Where did you buy in PR ?
In Humacao