INSIDE A 2018 SAN JUAN REAL REAL ESTATE INVESTMENT TOUR

INSIDE A 2018 SAN JUAN REAL REAL ESTATE INVESTMENT TOUR


it went from a buzz to a frenzy [Music] get a BA shadows as you can see we’re wrapping up a three-day conference I think a success all around for a very first conference we’ve been covering taxes lifestyle culture all facets of of living and investing in Puerto Rico but yesterday we did a real estate tour and we want to show people what to expect in certain areas of real estate in particular the areas that work for our business model which is converting undervalued properties we crowd fund the purchase the renovation and the furnishing of those properties to create short-term rental units turning those properties into cash flowing assets this is not a San Juan a real estate tour this is a tour of particular real estate that has a lot of potential for our business model so Sebastian has been on the ground for a number of weeks now finding properties that work for us what what are we looking at here in San Juan okay we’re looking at three main areas in San Juan the prelude the Ocean Park to be precise is Louisa Street up and call me neighbor a lot of new restaurants coming up the second one is condado area a lot of new investments is you know the higher strata and and a better-looking properties I really say but a lot of people going there tourism what are we looking at with prices in those areas okay pricing those in this area and Louisa Street you’ll find it a square feet between 110 to 180 dollars per square foot condo area would be more 180 would be a good deal and that depends on the conditions up to 300 and then if you check there’s a few projects on new construction those are selling for $800 hundred dollars per square foot so the difference is huge and it still leaves a huge margin to buy a an old property there’s a good money and renovation and still have a good portion of equity so after the tool with the Sebastian we’re going to join Sharif who is a master of Old San Juan real estate well how else can I put it you’ve been you’ve been there for many years and are both with a lot of properties there yes I’ve been there 15 years I love Old San Juan so unique a finite number of properties and you have a very unique location this the oldest historic zone under US flag and if you’re familiar with the area you probably came in on a cruise and the cruise ship dot right here at the piers and then people have maps they walk up on tanka Street and then they go left on Fortaleza street this is the traffic for shopping and all this then they go up on Crystal Street where you have the National tenants great places to stay for Airbnb downstairs you have all the shopping national tenants jewelers you have great museums to throw out the area you have some of the best food when food festivals there that can happen two or three times a year it’s very busy from the Christmas season Year’s Eve you have also the San Sebastian party in January usually second week itself the area has a very busy crafting throughout the year because of the cruise business and it’s just full of energy and fun there isn’t so much you can do there’s I’ve enjoyed it I thought the largest inventory of historic properties there in these traffic areas danke Fortaleza and Christo and really it has been a blessing we have the area has been very resilient through the economic meltdown in 2009-10 we still did very well here because cruise ships kept bringing business and even though they charge less but they kept bringing business then we also had the de hurricane unfortunately last year in 2017 and yet we immediately recovered because the whole area is concrete buildings very solid structures so we just lost electricity for five weeks it came back and it came back strong because now we have more cruise business we have more people coming we have the act 20 Act 22 which is the tax incentives for Puerto Rico we even have what is called log seven for historic properties or we have no property tax no taxable income on the income of the properties and it’s been just a blessing we also have the cryptocurrency it’s becoming a center for initial coin offerings so Sam it’s just been unbelievable what’s happening with the prices in this historical part of town it has now stabilized as of last year now that big companies came and bought whatever was in foreclosure in 2013 in 2014 all the rehab was happening in 2015-2016 we saw it now an uptick in the actual prices and 2017 we started seeing some demand right after the hurricane has been round from practically frenzy as you know the event today 150 people came in touring also on asking prices and all listeners it went from a buzz to a frenzy so usually you will get better traffic for Airbnb and Nike stay short-term in these areas long-term which are workers in Old San Juan executives in some of these big national territories they live closer back here but in general the whole area is open for business Airbnb is because we don’t have enough hotels and not and more people wanting to stay than we have what’s available in accommodations awesome all right okay let’s go see what’s happening in these particular areas in real estate in San Juan [Music] [Applause] to small from bigger don’t they got to be fairly to be doing that [Music] what are you thinking so far I like it has you know good bones basically you can you have a clean slate so a lot of rehab work definitely but the location you can’t beat your ones free from all the action so you’ve seen some of our furnishings what do you think each of these units would rent out pro night with those kinds of furnishings I say on the love all around just right now it’s just such a regular nothing nice to it that is still under fifty night so wouldn’t say why like that I think that’d be the lowest I was a 28 up art studio building it’s going uphill for 5.5 million doors this little condado area we’re going to Ocean Park Oshin quite as beautifully as a lot of explorers it’s a deeper engagement on the property under contract without pain [Music] [Music] [Music] [Music] was horrible the government of Puerto Rico put millions of dollars redoing all this part because when I asked the people working with the mayor I said how come you’re spending so much money if the economy’s so bad in the US and here the answer was all San Juan is the jewel of the island and there will always be money here do you think I felt good about it yeah yeah and then they put all new cobblestones on the streets so that was great all this is new it’s not old at all less than 10 years old look at the big cruise [Music] ship over there they come the people come up this way so let’s go to tanker right here I’m gonna take you to the properties shelleyf are we doing hey we’re doing great what are we looking at today what so we’re looking at all my buildings here on tankers free Fortaleza Street and crystal for how we put tenants and how we actually make these properties perform and make a lot of money old san juan is really coming back very strong right now through the hurricane and we look at the historic buildings how Airbnb stands forming the area how we have commercial tenants coming in from San Martin and from st. Thomas so the entire area is being transformed very fast as you can see over there the cruise ships dock right there on time front of Tanqueray come up here left on Fortaleza but this is the building I told you we took it one big space divided into two so we have the cosmetics company here and and we have right here the actual souvenir the second floor we’re doing two apartments you can go up if you want but it’s under construction there is another floor on top penthouse where the crew that’s here we decided to give it to them long term because they had so many employees and I paid very good rent monthly and I figured let’s work with the tenant she here you have the cruises you have the tax benefits and you have that actually the fact that the government wants to maintain this area because it brings billions of dollars from the cruises every year so they want the business to keep coming they gotta please the cruises the cruises say stay open till this time the cruises actually get incentives if they dock for four hours they pay so much for the port they dock eight hours they pay less they give them incentives to stay longer so people can shop more it’s all time and money time and money if I rent it monthly I’ll get five thousand maybe six thousand so I can get doubled they’re just doing the nightly and playing with the rates etc when you have something like a trophy property cost you more but you get a lot more I move the jeweler from the corner property to 52 tanka over here is paid twelve thousand a month just for the space awesome location Fe is one of the biggest jewelers and people come right to the criteria to get three gifts so they attract traffic from the cruise ships this way called Plaza de Armas is the place of the arms so what happens is a lot of people do function there this is marshals they sell 24 million a year in sales so that’s 2 million a month that’s almost like 80,000 a day in sales most of the sales of the cruise ship they come in here said you do very well so I bought this building the corner one which is 25,000 square feet I got five tenants here named brands like flip-flop and big jewelers right here upstairs that is space to do either 12 micro units 600 square foot units or 6 nice big apartment the development of this upstairs will cost about rounded up one and a half million so far international was asking me and I think it would be a great project with far because far can probably we can do a partnership in it and it would be very profitable for everybody want to take a look at the open space upstairs this space we did couple drawings the culture institute allows us to open these windows you see these windows we can open them all the way down all the way down all the way down we can do several apartments here I think the apartments will be four apartments on this floor that will be three bedroom two bath and two bedroom two bath two bedroom two bath two bedroom bath and upstairs is another floor where we can put additional three or four nice apartments this will be great one for nightly stays for Airbnb [Music] [Music] so this one right here the 4-bedroom 2bath is eight hundred and nine and the 255 tonka that was four bedroom two and half bad that was a real nice luxury if you will that was a thousand and night the downstairs units we have different configurations for bedroom we have a two bedroom two bath we have a three bedroom one bath three bedroom two bath 2 bedroom 2 bath etc and they go from as low as 309 all the way to six hundred a night so this this upstairs here makes twenty four thousand a month an average for the year we expect about seventeen thousand net per month downstairs should be renting around 7,000 to 8,000 a monthly a jewelry place so we could sit down and talk about real estate all day but seeing and touching it understanding what the prices are what the market is like it’s the best way for us to really show what’s happening in real estate in Puerto Rico all right Fabia you were born in Bogota where I’m currently living you went to Houston Texas 14 years ago you’re in real estate there and you’re coming out to Puerto Rico why why you coming to Puerto Rico well first of all personal reasons I love the beach I love the culture I think is very similar to my Colombian culture besides that there’s so much opportunity here to vibe properties out of bottom price like I’ve never seen properties this cheap more portable as you said for the quality for the for the American dream basically because so many people think Berto Rico is not great because this is not considered part of the United States but it’s common well it has the American culture the American system for the most part so I think it’s the best of both worlds and properties that can be compared to Airbnb I think that’s a great opportunity that most people don’t know about be following your videos as well so that makes me think I’m right to come and make the move I love you sir it’s good for the economy all right just got a little tired of just being in a big city without this automation tomorrow does this place remind you of prodigy at all yes I mean you look around and you see the same architecture the same streets yeah after all we were like carpenter not 50% discount old San Juan is into two unfamiliar seeing large groups of foreigners coming through some of the cruise ships bringing thousands of people at a time the stores will open close based off the cruise ships with a guest that is doing a project here in Puerto Rico who towards alumni indeed a spoon for tours alumna have got Sam from life of fides I’m never running into it last time I saw you was January so now it’s April what’s what’s been going on a baby’s grown the cordon Muncey’s now nine months old we’re doing good we’ve have power back finally we didn’t have power that’s right I’ve now had power back for a little bit back in the apartment business is slowly looking up a little we’re still at it you know I’m still figuring out when how’s morale how’s the host of the city doing better and better the season normalized for some people and ended up being end of normal season so that’s good our business kept growing last time we spoke you were contemplating doing in Torquay a Luisa we’ve already done a couple of cold runs and now we’re doing friends and family starting to actually run back soon yeah [Music] right so why are we taking around three buses of people and showing them San Juan Ocean Park Asia Risa what we do is add value the properties we add value for investors who are looking to generate passive income the next chapter of our business is in Puerto Rico place with so much opportunity a not a very competitive Airbnb market absolutely stunning beaches and really quality healthy lifestyles it just makes sense for us we’re currently putting together a few select properties these properties are worth over a million dollars we’re making them accessible through crowdfunding from $50,000 and are if you’re from Puerto Rico and you see this future you see what’s happening in the tourists arriving if you’re from the US and you’d like to take advantage of these tax incentives designed to bring more economic activity to the island or from any other country and if you’d like to be a part of the real estate and growth fund that we’re putting together click the link below and get you the prospectus as soon as it’s ready I’m gonna leave it at that it’s not the first conference we present to that but it is the first conference we’ve hosted and I think we’re doing ok I’m gonna prepare for my speech tomorrow speaking in front of you guys been following the channel you know that’s one of my favorite things to do I love to embrace things like that so we’ll see you guys in the next video my name is Sam Miller I’m part of a group of real estate entrepreneurs that are creating turnkey investments as well as taking the Airbnb experience to the next level it means we turn properties like this into properties like this it’s gonna be a wild ride click the like button on Facebook subscribe on youtube right and so yeah

19 thoughts on “INSIDE A 2018 SAN JUAN REAL REAL ESTATE INVESTMENT TOUR

  1. Ahora estás en San Juan …. Cuando regresas a Colombia

  2. 😬dame un corazón!💝😭

  3. Cool🇵🇷🇺🇸✌🏻⭐

  4. I hope you’ll be in the island for more and many more of those YouTube videos because now is the time for the investors in the islan, but I prefer united state citizens and no Latinos, so sorry but is my feelings, already we have more tan enough in our island and them are not for the good of Puerto Rico, they are from Mexico, RD, Colombia managing their cartel 🙁

  5. Is that a real estate tour that you set up ?? How often are those tours ? How do I get to go on one ?

  6. Hola Sam! What a small world…I recognize Fabian from Houston REI. I need to meet both of you soon!

  7. San welcome to San Andrés and the islas del rosario cerca a Cattagena :Iaguna bioluminicente una laguna encantada : https://www.google.com.co/amp/s/elviajero.elpais.com/elviajero/2016/07/01/actualidad/1467373029_128549.amp.html

  8. Anyway to invest less than $50K?

  9. Interesting..humm

  10. Look good for the investors but not for the locals, at the end Old San Juan will belong to foreigners and millionaires. Puerto Rico is an invaded Latin American nation and in the future we will free and all can change. We never surrender our right to be a free nation and take it back to the real owners.

  11. Puerto Rico tiene muchas calles que se parecen a Cartagena, si las pintan quedan igual es muy bella esta ciudad que estas inversiones favorezcan a las personas que viven ahí, en trabajos y oportúnidades!

  12. a great insight to the market!

  13. "The whole area is concrete buildings" NO, its mostly masonry.

  14. instead of craigslist on mainland, what do they have over there?

  15. The conference was amazing! If anyone wants to connect with me, this is my info 832-844-3OOO Latinosinrealestate.com
    fabian @ fabian Toledo com

  16. Very nice!

  17. Pto. rico is for sale to the highest bidder

  18. Beautiful island full of talent, beauty and good hearted people! That is the people we want on the island, the ones that go to invest and enjoy the island.

  19. I don’t agree with the math. Anyone can throw numbers out there regarding rents. When you go online and look for rentals you can find availability for FAR LESS than they are suggesting. I understand that they are seeking investors but these are not good deals by any means. These prices are reflective of an “already booming “ economy in full recovery. I’ll be there soon to investigate personally.

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