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Vin, Home Buyer in UK

best cities to buy in the states for overseas investors for rental returns

Asked by Vin, UK Sun Jun 29, 2008

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One place in the US worth investing in is Puerto Rico, a territory of the United States in the Caribbean. I'm from New Orleans, Lousiana and Puerto Rico feels like a state. It has all national stores like Home Depot, Sam's Food Club, Walgreens and so forth. Engish is spoken here. Property taxes are low. No Federal Income Tax.
I have property in Rincon, a tourist town, invaded by Americans during the winter when sufing waves come in. There are several major hotels in the area, but during surfing season they get booked. My vacation rental caters to families and I am right on the beach.
Puerto Rico hasn't avoided the National recession, and even though Rincon is one of the fastest growing towns in the island (population around 14,000), property values have dropped. 3 years ago, a square meter (property is sold by meter) was selling for around $200. These days asking prices are about half. Beachfront prices remain stable.
Many yearly visitors buy homes here. There are many retired americans in the area. Many American businesses, and a few European. They like the warm tropical climate and the laid back way of life here.
I'm disappointed Trulia doesn't enclude Puerto Rico in their lists. Most national real estate companies have officies in Puerto Rico too.
0 votes Thank Flag Link Sun Jun 29, 2008
San Antonio, Texas, is one of the best. Property value here has maintained its stability while many of the other states have gone wild.
Web Reference: http://www.YvonneBaker.com
0 votes Thank Flag Link Sun Jun 29, 2008
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