home for sale puerto rico
Is the area of Mayague safe? Also when I look at?
homes for sale in Puerto Rico most of them seem to have barbed wire around them. Is is that unsafe there? Also are there safe places to be when its hurricane weather in Puerto Rico and what do people do to prepare? Thanks for any info.
Robberies are very common in PR, crimes are high, but most nasty crimes are drug-related so, if you’re not around those circles, you’re pretty much safe. The economy is on a down-spiral now, so carjackings and robberies are rampant lately. It all depends on the area, its just like any other place in the world. You just need to be aware and don’t fall asleep. I live in Mayaguez, and its a lot better than San Juan, but there’s crimes, I’m not gonna lie. I suggest, controlled access compounds, you won’t need the fences in there. As for the hurricanes, just make sure your house is not close to the ocean or a river, or the beach, make sure its concrete, also make sure that the area in not suitable for floods, flooding is quite common on coastal areas in PR, when rains are strong, so ask locals for advice on how flood-like is their area, cause Mayaguez is the rain capital of PR, it rains almost everyday on the months from August to December. Protecting homes against hurricanes is pretty easy, just get wood panels, or you can get the metallic windshields, which are of course more expensive, but you won’t have to worry about mounting panels everytime. When a hurricane is announced, electricity and water are cut out, so some people have electric generators to power up the basics, have a radio, canned food and lots of water, because depending on your location the re-installment of utility services might take from weeks to months, so make sure your house is not located on a remote area.
Vacation Home for Profit!
If you have a favorite vacation spot, you enjoy visiting; it is time to consider setting up a vacation home. There is a huge profit in Real-estate properties buying and selling properties is big business with huge returns if done right. Vacation rentals are also a nice way to have the best of both worlds. Purchasing a property as a vacation home and renting it for profit can bring in a nice cash flow if done correctly.
The first line of business would be to find a nice piece of real estate in an area you enjoy vacationing. Next is fixing it up, furnishing it to your level of comfort without putting too much high-end furniture in it. Keep your cost down by moving items you already have that are in pristine condition. Make sure you have all the comforts of home. If you still have little juniors, high-chair or buster-seat these are ideal to move into your vacation home.
The next decision you have to make is whether you want to manage the rental process yourself or get a management person with an established client base. There are hundreds of online places to market your property with more sites popping up each day. Vacation rental properties can bring in as much as $1,500.00 a week in the right area. One thing to remember is that most vacation rentals have a high and low season.
I was introduced to vacation rentals when I came across a condominium my cousin had for sale right in front of the beach in Dorado, Puerto Rico. When I first saw the place and the area, I immediately wanted it. The price she was offering it to me was right for the area. I had to have it and I really did spend at least two weeks out of the year in Puerto Rico, I love visiting the island. The banks were offering 100% financing, rates were down, and I did have some money saved up for a real-estate venture I was planning but had not found the right property. That is when I started looking at vacation rentals; my cousin’s daughter was renting her place out at least once each month. I did my homework and starting looking around for someone to manage the place for me since it was so far away from my principal residence in the states.
I found a young woman who had her own business and was managing a few vacation rentals in the area. We spoke a few times and I singed a contract with her to manage the place for me. A great source of information is this book: How to Rent Vacation Rentals by Owner, by Christine Karpinski. A great Vacation rental owners management tools site is Rentalbot.com http://www.Rentalbot.com They also do rental listings for a very affordable price.
I have been working for a Wall Street financial company for over thirty-five years and this was finally my paradise. I love staying in my little piece of paradise as I call it.
The property is Villas de Costa Mar, in the Costa de Oro section of Dorado, Puerto Rico. For additional information on this vacation rental property, you can visit my website at http://www.VillasdeCostamar.com
Albert Rios
About the Author
I have worked for a large financial institution for over thirty years. I have been focusing my real-estate investing back home in my little island paradise of Puerto Rico. My last investment was a vacation rental property and it is fast becoming my most profitable venture and most valued property that I truly enjoy visiting.
Serrania Caguas Home for Sale Puerto Rico
