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One can get good bargains these days in Puerto Rico HOWEVER, these bargains have to examined with a fine tooth comb. Beach front communities appear to be ideal, ON THE SURFACE, but they also tend to be the most unstable. The cheaper the property the more one should investigate. Check out if people bought the apartments for investment, if so, you might be in for trouble. In many beach front condos there is an "entra y sale" of questionable people of all styles, renting apartments by the day or week. The properties quickly deteriorate. Short term rentals bring with them unruly kids, boom boxes and people who party into the wee hours making life for others miserable. They know that a hotel wouldn't tolerate their behavior.
If the price is too low, investigate why they want to dump the property. Check to see if "El salitre" has eaten away the cement and windows. If there are too many gates, investigate why. The more gates means more security, but it also means higher maintenance. Security should be 24 /7, not for a few hours.
Allow several hours to check out the property by yourself and ask neighbors and owners very specific questions. One would be surprised at the info one gets. I've backed off from buying a condo in Condado when some owners candidly told me the place was going to the dogs, the "entra y sale " was intolerable and maintenance was sketchy.
I also saw an apartment that was impeccably maintained and it's management was available, in house, 27/7. However the apartment needed a new kitchen and 2 bathrooms, which I was unwilling to do unless they lowered the price, they didn't.
There are great properties to be had in Puerto Rico but one has to be savvy in order not to get taken.
Last edited by clip314; 08-07-2012 at 06:59 AM..
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