I Moved To Puerto Rico 1 Year Ago To Save On Taxes. Here's What I Learned...
ฝัง
- เผยแพร่เมื่อ 29 มิ.ย. 2024
- It's been 1 year since I moved to Puerto Rico to save on taxes. On this video I'll share what I learned and what you need to know if you're thinking about it.
Video: how to invest cub real estate in Puerto Rico
• Puerto Rico Real Estat...
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You have 10 kids...man, that's wonderful.
My kudos to you 10 kids yea. I am here in Palma myself. We all need to contribute to Puerto Rico since they are giving us the opportunity, If you here just 100 percent for taxes do not come.
I love that you are true to your vision and tell the truth about how it is, the real thing, of living in the island. I am from Ponce and was raised in Ponce, then in Toa Baja (Levittown) and then Cataño. I am very well educated with 3 different degrees. I am a Bilingual Speech and Language Pathologist (my master's is from CAU at Old San Juan). At 42 yrs old I left the island to the mainland (Fort Myers Beach, FL) and worked for Collier County School District - Naples, FL). Then ended up in Atlanta for a year. And for the last 7 yrs I live in Las Vegas, NV working for the school district here. What kills me inside is the fact that people from the mainland can go to my island and achieve what I can't achieve as a person birn, raised and educated in the island. All my family is there. There should be incentives... a way or a method... for people like me to be able to return to the island. Something no one talks about, yet they prefer to offer incentives to other people and families that have yet to learn the culture as such. 😢😢😢
Love that you personalized this with the “disaster” story. Makes it real! Kudos brother
sargassum has been used to build bricks and for sustainable construction. it could actually be a HUGE boost to the economy if people get organized to turn it into an opportunity.
Loved the details in your video! I date a Puerto Rican who lives on the Island and I've been blessed enough to go to Palmar de Mar several times it's definitely an awesome resort to live in. Palmar is pretty far from the urban/city type areas so that's one thing some have to take into account. If you're an adventurous person you'll have unlimited options over there. What locals really don't like is when outsiders come and try to change things with $. What do I mean? Purchasing homes and inflating the prices. Prices right now have gone up so much in Puerto Rico and the only ones truly able to afford the high prices are top earners or people outside of Puerto Rico. So this makes it harder for local's future generation to be able to own any land or property. Another thing that wasn't mentioned is the governing powers of PR are very outdated and can be frustrating in what they poor funds into. I would eventually want to move to the main Island when I'm ready for a more relaxed pace lifestyle. For now, Florida is as close as Puerto Rico vibes but still provides the good side of things the mainland can provide. I'm from NJ so adjusting would be challenging.
Thanks so much for this! Calling your resources. Really appreciate a video like this.
I don't think its actual hatred , but in past times people would move or visit puerto rico and behave in an entitled manner. In the u.s many have to suck it up , but in puerto rico they will express their frustration. Unfortunately some of these tax breaks are not for the increase of job creation , but for personal wealth.
Yes, never, ever say you came to PR for the tax incentive to a Puerto Rican.
Gerry - you are a flipping genius! I am a lawyer and a judge living in Connecticut and thinking about making the move to Puerto Rico. I was actually born there many years ago, and I’m thinking about pursuing the next stage of my career, at least partly from Puerto Rico. Your video was extremely helpful in helping me Analyze and process whether making the move to Puerto Rico is something that would make sense for me. Thank you for the great information. I’d love to follow up with you sometime and get some more information from you. Palmas Del Mar sounds like a really great place. Best - Matt Gordon
It’s crazy how you are from Michigan and so am I ❤takes a lot to live by faith you are so inspirational. Just the confirmation I needed to make a decision to move to the island. Not a millionaire by any means but I’m looking forward to learning and would be content with just making a decent living on the island.
I'm from Pontiac...
Gracias por toda la información. Very interesting. Doing all my research and I’m blessed to have people like you in this community 🤓. One step closer
Thanks for the info!
I was just at palmas de mar beach resort for a family vacation, I loved it over there me and the family decided to go every year in April.
Beautiful family, property and what you have built. Im planning to head that way in a few months and looking at a large organic farm/ranch. Thanks for the nice content as its helpful. Planning to build a school for our kids and our area locals to hopefully help with the go home gringo issue. There is a soulition for the the seaweed, turning it to energy. Thanks again
Hey 👋🏼.. Jerry you are a flipping genius!!!! Each time I watch your channel, it gives me HOPE.
Great info. Thank you
This video is so helpful, I’m a high end flooring contractor in San Diego and have been looking in to moving to Puerto Rico, I’m so glad I have more information now thank you so much!!!
Thank you for the info.
Great video, very informative. Gracias! LovePR thanks bringing economy
The "Love Condo"! 😂 ... That's awesome. (Although, you may not want to tell your friends and family who stay there that that's what you use it for before they arrive.)
Thank you for the information.
While investors move to PR to avoid federal taxes, the island pays billions annually. _Puerto Rico residents pay more in federal income taxes every year than do residents of six U.S. states: "From 1998 up until 2006, when Puerto Rico was hit by its present economic recession, Puerto Rico _*_consistently_*_ paid more than $4 billion annually in federal taxes and impositions into the national fisc." This was more that the IRS collected from taxpayers in six States of the Union: Vermont, Wyoming, South Dakota, North Dakota, Montana, and Alaska, as well as the Northern Mariana Islands.[17][18]_
This is actually really good but, what's the reference?
@@thomasrivera8626 we pay a lot in taxes and basic services like police,ems and healthcare are all bankrupt and broken. Even elecricity and water have major issues. So this called investors come here sometimes buy properties displacing residents and sit on them letting them fall in disrepair and then sell them for double and sometimes triple of what they payed for.
Nice video. Like what you are doing with the iguanas. Thank you
Great info!
Congratulations and Bountiful Blessings 🙏🏾 Keep up the Good Work there that's what we need here to stir the economy here ☝🏾 Those inspired with the Entrepreneurial Spirit coming here ☺️🇺🇸🇵🇷👍🏾
PS: Thank You for chosing Puerto Rico 🙏🏽
Thank you sir. Very informative.
Great job! My family’s lives in the East coast and I was privileged to visit the beauty Palmas Del Mar. I’m very sorry that you have encountered the negativity of those in the Island that expressed hatred to a wealthy person. I’m assuming as you mentioned “they don’t know what are doing to help the Islanders.” My well best wishes for you and your beautiful family and keep enjoying and exploring this beautiful Island.
It’s not helping the islanders that’s all a lie
Nydia Diaz Exactly how are they truly helping the Islanders?!! And can you be honestly specific. I'm going to guest that you can't!!
Jerry We Love What you’re doing !!! We Love you and your Family !!! Thank God for you being so Transparent and down to earth “ You are a Bright Light in such a Dark World !!! Keep shining Brother “ Oh yea YOU R A FLIPPING GENIUS!!! Lol🙏🏾🎃
Good review
great vid. congrats!!!
Im moving to Humacao in the next couple of months. Definitely looking to hook up. Ive noticed that some pf the people who though we were moving for tax benefits didnt like that too much. but once they realized that we were there to contribute and pour into the island we got a completely different response.
And how, pray tell, will you "pour into" the island? Will you invest in local agriculture? 85% of the food on the island is imported, green energy? PR boasts a failing power grid with almost daily blackouts thanks to a vulture, foreign power company that swooped in after hurricane María. Will you pay a livable wage to your employees? Minimum wage isn't even $9/hr.
People like you will finish turning Puerto Rico into Hawaii
@@Ms.takenlee I own a funding brokerage. I’m looking to bring more funding opportunities to the local small businesses, and we are also trying to bring a better solar option to the island, but that’s been hell. I wish I could be a part of resolving all of the issues you listed, but I’m unfortunately, only a small business owner not a politician, multimillionaire or superhero. That said, some of the financing programs that I’m bringing to the island will help bring lending options that will help people fix and flip homes, invest in their passions, or invest back into themselves and the community. We have been working on some community gardens as well but that was pre-Fiona. Now we’ve pivoted back to lending to help people repair their homes.
Once I’m back on the island full time, I’ll probably be doing more hands on, community based work.
@@zactalleyclactpep1328sounds like you really are invested. Please stay true to your word and you'll find that we are very warm and welcoming. Just don't try any funny business, then all bets are off.
So happy you are here in Puerto Rico! I live here as well and I have no regrets moving to this beautiful island. Coming from a Cuban family who immigrated to the USA I really do not understand this “Gringo Go Home” movement. All they have to do is travel to any of their neighboring countries starting with the Dominican Republic where many come on make shift vessels risking their lives to immigrate to PR. I suggest the GGH people need to go to Cuba or Haiti stay a while feel the pain the Pueblo is experiencing. Get a good feel for what probably will happen to Puerto Rico if the Americans actually go home. Coming from a Cuban family who lost everything and experienced socialist/communist government repression I am grateful and proud that Puerto Rico is a United States Territory. I am proud of my Cuban-American heritage. No matter what the history. Imagine, Puerto Rico is such a free democracy that the GGH movement is aloud to exist despite the fact that thousands here receive some form of American government assistance. They can still spray paint walls, post on TikTok and You Tube with their disrespectful rhetoric. GGH movement this message is to you. My Cuban father would always tell me, “No muerdes la mano que te da de comer.” Don’t get distracted. Put your time more into studying, start a business, develop yourself in a trade and stop having the “Hay Bendito Syndrome!” There are great opportunities here because of the the efforts given by the United States. Think about building a stronger More educated Puerto Rico. You sound like spoiled children. Please.
By the way. Starlink is amazing! If I ever get the opportunity to meet Elon Musk I am going to give him a big hug. This internet is fast, and low latency. Your wife and children will be so happy if you get it for your home.
Don't listen to this people that are anti-American. They represent less than 1% of the island population. I know the communist party has followers in the U.S , there are people that are never satisfy.
They want PR to become another failed, broke, woke island with nothing but bananas and beaches.
"Activists" aren't exactly the enterprising type.
Woah Jerry, talking about your personal life is as inspiring as your business life. I’m not sure if I ever want to live in PR. But I’m damn sure that I want to have the freedom to do whatever I want, like buying a condo, for my mom in my home country. Jerry, you will make me a flipping genius ! Just started, and not ready to stop now ! 🙏🏼
They are going to vote to whether to be a state or independent soon, it maybe passed in the senate, How will this affect people on ACT 60 if they become a state?
I’m here in PR and we moved 3 years ago! I’m married to a Puerto Rican and am here from NYC. I love my family, the island, the culture and teaching sign language and art to my students (high school). The natives want gringos gone, gentrification stopped and tax incentives eliminated, and it’s complicated! But please… the tax incentives were created by YOUR OWN GOVERNMENT! Don’t just hate the white folks for moving here to take advantage, protest your own government. Take action! Change the system. Fight for affordable housing and a balance with the wealth disparity on the island. You cannot build a wall around your island and live in isolation. Puerto Rico is, for the moment, entrenched in a horrible colonial political system from the states, (where 600,000 Puerto Ricans live). Let’s work together without tribalism and identity politics (think Trump and MAGA) and solve the island’s problems without hatred.
(PS- sadly we are moving back to the states… so the haters will be happy …but my family, friends and wonderful school (and especially students) I will miss dearly!)
I'm sorry you had to move, you seem sincere and were probably an asset to the island. But, I have an issue with what you said about it being just a government issue about the Act. I agree that it's the governments fault on not enforcing the clauses and responsibilities of Act 60 people, but that doesn't mean that just because the government is lax and very corrupt that they NEED yo take full advantage of said corruption. People can act morally even if they're not fiscally motivated to do so, and help the economy! I choose everyday to do the right thing even though I know I can do a lot of stuff and get away with it. It's called integrity, and we need people coming over here to have that quality. We need them to create jobs with fair wages and to find a way to not push us out of our own island. We can coexist but only as long as you don't take advantage of the locals.
You are truly blessed Jerry. 🙌
Congratulations to you and your family!
Thank you for the information!👍🏻✌🏻
Just Your life itself is inspiring..I'm coming to Puerto Rico Saturday..Blessings Blessings..Mr. Jerry.
Thanks Mr.Jerry
Thanks Mr.Jerry, Puerto Rico is nice...I can see myself staying there..Blessings Blessings
Rather, it was nice.
Loved this video. Great family!
God has blessed you tremendously with such a fruitful family and ability to live outside the box. I love your genuine personality & your simple to-the-point information. You truly inspire me.
" God " had nothing to do with it.
jerry imma be real, im 18 years old and i’ve been looking non stop at all your videos of wholesaling and i fell in love. I’m currently going through your 10 step process on how to make your first deal wholesaling and i’m wondering if homeowners will actually take me serious considering i’m only 18 barely starting up my wholesaling business.
Bro do that shit. Best of luck king
@@ligmaballs0911 that’s love
Any recommendations on what bank to use for 100% loan for a lot in Puerto Rico? I have a down payment but can't come up with the reminder untill I retire in 2 years. I would love to buy something now and pay it slowly but banks in PR only offer 30% loans to buy land.
Great show. My brother just moved there in playas. We have 2 baby boys. Just left there would have liked to met you :-)
Jerry what's the cost of living like where you are? What's the starting point for an elite priced home? (the top 10% most expensive houses).
I like your lil pup Flippy G!
Thank you! The 3 year requirement - can you qualify for act 60 before that 3 year mark but you must maintain and follow all requirements without leaving for 3 years to continue to qualify? Is that right?
Jerry...I want a video of you taking Pace Iguana hunting! This is a must...you stand behind him yelling "Choot Im"...that would be worth a quarter of the consultation fee alone!
Jerry... congrats to you for finding (and keeping😁) a rock star wife and partner to create your dream life. Question... my wife & I are nearly 100% on board with homeschooling our 6 and 7 year old children. What resources would you (and certainly your wife) recommend to make this big leap? Thank you so much, you're so inspiring and as a fluent spanish speaking former contractor of 17 years...I hope to soon be in a position to make such a decision to move to Puerto Rico as well. Keep up the awesome content, you're likely nowhere nearly fully aware how much it impacts people that you don't even know (like me).
I've been in PR for 2 years now, moved my eCommerce holding company down here. Theres a LOT of downsides, and a LOT of upsides. Definitely worth it, but overall just a more drastic lifestyle on both ends of the spectrum VS a neutral lifestyle like Mesa AZ (which ironic enough, is where I lived before). Definitely a great option to extensively consider for anyone paying a lot in taxes!
Don’t move your businesses to pr like it’s New York or Texas, it’s a small island with native ppl you will do the SAME thing you did to the natives in Hawaii.
Like stay the fuck in the States. I promise you we do not want you here at all. You are invasive to our space.
Puerto is a small island where people live, not a place to build big businesses, that’s why you have the 50 states
Get the hell out
@@handfull653 no thanks racist. I'll stay.
Can you give more information, you on Instagram? Planning to move soon for my business and investments.
At some point, I would like to move in for some time but I have a love-hate relationship with PR. I was born and raised there and ever since I left forever ago their political decisions have made it a place that can be way better than what it is. If you don't have the resources you mentioned to upset the challenges, you're really stepping back to a time machine, and not in a good way, example of this was the infrastructural challenges after the hurricanes and earthquakes from a few years ago.
Love what you're doing there's Puerto Ricans out
there that will support you... 🇵🇷🇵🇷🇵🇷🇵🇷
Jerry you are a flipping genius
I'll be there in a few years. Puerto Rico is a beautiful island; I would love to contribute especially to the car culture. Once I'm daytrading fulltime, I'll be moving over there.😎🏝🏠🇵🇷
Car culture in pot hole riddled streets...
You know nothing of what PR's infrastructure is like you just want the superficial stuff
@@Ms.takenleeyou're wasting your time responding to me; I simply don't care what you have to say especially something that ignorant and arrogant. I'm surprised you don't know anything about there being car culture, given the idea that you probably are from PR.
I've been living here when my parents and siblings moved here 5+ years ago.
(My parents are Puerto Rican but I was born and raised in the us for a few years before moving back). Figured this might be useful info
I like to draw and for the mean time when searching for a job to start working I've considered doing art commissions. Was really lost when first stepping into tax stuff.
What I wanted to ask if I start making income from art commissions. How would taxes go normally. Would I have to apply for act 60 and make my art commissions a business for the 4%/avoiding federal taxes? (I still live with my family and I haven't found the right information I need and I'm very weary to step into taxes without at least the proper information I need)
Sorry if this is too much but I really want the help before stepping into something I might be misunderstanding.
The only tax things I think I have to do would be social security and maybe medicare. Ik a self employed must pay quarterly taxes? (Is quarterly taxes still necessary if I'm in Puerto Rico?)
I would greatly appreciate the help/tips/information 🙏🙏🙏
Ann Marie is awesome! Good pick!
Hi Jerry, I am happy that you and your family are enjoying Puerto Rico. Jerry, you’re definitely a flipping genius for protecting your income! I am sad that there are haters that are directing their energy towards you. I hope that changes soon, and that there’s more harmony and understanding.
Jerry, if you are going to get solar, make sure you get the inverters that don’t create a lot of radiation - very harmful to the humans and animals if the system is on the roof. There’s an engineer named Eric Windheim who works to repair and redesign solar systems so they are benign. He has a channel here on TH-cam.
Haters? Hahahahaha we just protecting what you gringos are taking always from us, our school, ours houses. Na it’s not hate it’s protecting
Enjoying the act 60 🤑
Jerry como estás espero que todo bien en unión a tu familia pues me da mucha alegría que personas de tu nivel estén viviendo en puerto rico la tierra que me vio nacer gracias por el aporte que de alguna manera o otra haces a mi tierra
10 kids. Moved from Arizona. Is a Gringo who speaks Spanish fluently. (I’m thinking he may have learned it as a young 19 or 20 year old. )And he has the same Christus statue I have in my home. I’m thinking I probably share the same faith as Jerry. 😇
That obvious 😂
What are you doing to give back to the people of Puerto Rico?
You are an investor, a house flipper.
Tons of PRs have left the island and gentrification has been seriously affecting the natives of the island. Real estate investors like you are driving prices up and pushing people out. You are very wealthy while many Puerto Ricans are not. How do make this island a better place? What is it that you ‘love’ about the culture? What are you doing to help the education system of Puerto Rico which is in big trouble. Yes, you should consider the education system of PR as a person who is making tons of money there. You said you love the culture.
You call them haters, why? Have you thought of why they would feel this way?
Most pr need to learn about condom, and stop popping out mistakes you cant afford and dump them on the tax payers like me, if you were in our shoe you would do the same too, so stfu with that bs about what can we do to make pr great again, we cant do anything if you are not doing anything either.
@@um8440 Troll. Your hate is only overshadowed by your ignorance. Read before you comment. If you want to talk about this face to face, I can let you try to make me STFU. I dare you.
@Lajas Funny how you NEVER mentioned, "la elite boricua." They run the island and have since 1493. They live in their own world and don't want the status quo of PR to change in any way. Don't blame this TH-camr for Puerto Ricos' problems. "La crema y nata boricua" ran the island into the ground, that is why they were forced to make Acts 20/22 available to wealthy Statesiders.
Jerry the reality is that you move to Puerto Rico because of the tax incentive not because you like us.
Yes I moved to Puerto Rico for the tax incentives.
Airbnb and other gentrifiers have their days numbered on the island, look what happened in Arecibo, the protest in condado and yesterday in Rincon.
I hit pause when I comment so I don't give you views
@@Ms.takenlee what happened?
@@prestonneubert1983 Locals are getting tired of the colonizer gringo mindset and gradually pushing them out. Ppl like th OP would love it if PR became the next Hawaii.
Jerry, would you happen to know of any HML in Puerto Rico? I'm in need of a POF.
I'm so inspired by you for real!!!! I need to make this happen for my family. I wish when I go to PR to visit my family I can meet you and have the money for your time. Thank you for this video!
No don’t you dare go to Puerto Rico for the freaking tax I don’t want you here
Act 60 is a benefit offered by Puerto Rico, not the IRS…
Jerry there is not a casino in Palmas at this time. There was and maybe in the future at the large hotel.
Jerry ima be there one day ill be 23 this year 1st year wholesaling in california after not getting vaxxed for my firefighting position. Think im going to stick with this thankyou for everything you share and show me brother. Ill be there in a few years in PR with yall!’
Godspeed. We appreciate your bravery ❤️❤️😊
There are some pretty sweet airguns available with sound moderators that would do a fine job on the reptile issue.
Hey buddy I saw your video and I have a quick question, I only have about half million dollars in my savings and I was looking to buy a house in PR and just settle in , I am a citizen , do you think is a good idea being that that’s all I have to spend ?
if you have only 1/2 a million its not worth it, most act 60 are millionaire, for it to work its expensive to live in pr. I have been living in pr for a year now, still waiting for the approval of the act60.
That mansion looks very green for being Mesa, az
Loved the Peurto 'Rico experiences you shared, your family is amazing! How was church life there?
Thanks for choosing PR as your tax-haven. ¿Will you and your family continue living on OUR Isla when WE make it an Independent NACION, or will you return to your vacation home in Montana? Correct me if I'm wrong, but I always thought Paying taxes is what keeps the infrastructure functioning...
If they discontinue the tax credits, PR will go back to the stone ages and yes, I’ll leave. Just like many puertoricans leave for a better opportunity, I came for a better opportunity.
PS. I still pay a lot of taxes
Que Viva the stone age, Bye genius, be careful..
Please how do I start the application process without the agencies
Does act 60 kick in the day you move there & apply for it or at the 183 day mark??
Starts when you arrive full time and file your application
My goal was to buy a house in PR and flip for an Airbnb. So that means I have to move to PR to manage the Airbnb? I can't live in the mainland?
Residence Recommendation:
7000 Bahia Beach Blvd., Rio Grande, Puerto Rico condos for sale -
Best hidden secret community of the Island!
Seems like it would be perfect for me if they could figure out how to keep the power on. The power/internet going down is a big issue for me as a trader.
Easy - generator
@@FlippingMastery Probably need Starlink internet. Looks like it's available there.
I'm Puerto Rican and I admire what you're doing, it's really inspiring.
He's a leech, he doesn't pay taxes or create any jobs for locals but you find him inspiring while boricuas has to pay taxes and higher cost of living because of people like him.
I’m Boricua🇵🇷and I wish everyone on the island🇵🇷 learns about the Tainos🇵🇷
@@BoricuaNyc So you must be 100% Taino, right?🤔
Jerry I owe you an apology. The secret is out about Palmas, and it’s great to see someone like you moving here.
On that note, it’s exciting to have a mainland home builder that is reliable. It would be awesome if your team is able to also do renovation projects. There is a ton of existing structures begging to be rehabbed.
- Ross
Jerry Would have been a problem to keep your house in the US as a rental property. I also own a couple of retail stores I could not move them but I couls work from home in PR. I do have a home office in my house in the states. I also own a commercial building with my siblings that I get monthly income from . would that create a problem ?
Hi is the local government that gives the incentive is not the IRS.
Are there any decent paying skilled trade jobs . I have been thinking about this move for awhile. Any help on jobs would be great! Also what would be a minimum of a gross wage to live in “ middleish class”
Welcome neighbor! :)
Another gringo welcoming another gringo in our island 🤢
What Congress gives Congress can take away. They are working hard to eliminate tax "loopholes" that benefit only the very rich. I would not count on Act 60 as part of a long-term plan. I may be a pessimist, but I don't get blindsided very often.
Act 60 not going away anytime soon. Too good for PR
@@FlippingMastery Act 60 is going to be history after the 2024 Puerto Rico elections.
@@FlippingMastery too good? The rich have been taking areas of residence that were available to the people of Puerto Rico, and you guys are charging hella more than what they can afford
What happens after 3 years. Are you able to move back and live like you used to with the same benefits?
If I move back I start paying taxes again
can i run flipster on my phone? dont have laptop yet. but i will after my first deal!
Yea mobile friendly
It looks a little rougher than the Philippines but I could handle it. I only pay about $100k in taxes though. Still I bet I could get a simple place comfortable to me for a couple hundred thousand and stop feeding a predatory federal government.
I use to pay about the same amount of taxes as you, I moved to PR and did exactly what you are describing. The taxes I saved basically paid for the house that I bought in PR within a couple of years. Life is great almost everywhere on the island
When does the 0% tax kick in? Can you make gains in the crypto market, THEN move to PR and not pay taxes if its the same tax year? OR do you have to already live in PR before the gains are made?
Doesn’t start till you move here
@@FlippingMastery Thanks!
Hey Jerry few questions
1. What area did you say you moved to?
2. How much for all your workers do you estimate per month you spend on labor?
After getting slapped by us taxes i dont want that issue again
I'm not really for gentrification but is happening all over the states also. I was born in PR, you seen like a good person i hope you could make a positive change for the island. God bless
What do you do for a living? And more or less what's your approx income yearly?
They dont hate you personally. Its that they are losing everything to developers and they are being squeezed out of areas that they have lived in for generations... As well, their treatment from the last administration has left them feeling abandoned and like second class citizens.. Alittle empathy is all it takes to understand their problems..
Wrong information. Act 60 was not created by the IRS. An individual who has income from American Samoa, the Commonwealth of the Northern Mariana Islands (CNMI), Guam, Puerto Rico or the U.S. Virgin Islands will usually have to file a tax return with the tax department of one of these territories. In the case of PR, they are waving these taxes to attract rich individuals from the US.
The “love condo” sounds like the 11th child is on its way, 🤣.
Fareal,make me wanna another child.
I am an Airbnb owner/operator of 11 keys and have been looking to move and operate in PR. How does one deal with my LLC based in the mainland, under Act 60. Also, any leads for private commercial mortgage connections for a hospitality venture I have in PR?
Learned something? I’m heading there soon
Can you please tell me the restaurant that sell iguanas?
Jerry great info I haven’t heard before. We are also looking in Palmas due to the boat docking opportunities. We have found some great waterfront lots but I am looking to learn more about how difficult it is to build new in PR. We are hoping to move there in 2 to 3 years so we have time to build. Please let me know if you have a resource on this. Thanks!
I’m building 10,000 sqft to flip right now in Palmas. Interested? Dm me on IG @flippingmastery
This was very helpful! This is exactly what i needed.
Glad to have you on the island, you and your a family are an accet to the island, I'm from Jersey, bought a home 23 years ago, and pay no Taxes, raised my son there now he's a high school teacher, best decision I ever made raising my son there. Welcome to the Island and keep your chin up, people are just jealous of your success.
People are definitely jealous of rich people taking advantage of laws that only benefit realtors, especially foreigners, ending with gentrification/ the displacement of natives, all while contributing nothing to the actual local economy. Next level ignorance.
I'm literally from FL moved to CA. Now all of sudden had an urge to say f**k it and go move to PR
Awesome video! Thankyou so much my friend! Hope to see you soon! Gringo takeover 🏆
Jerry, do you dabble in commercial at all?
Mostly residential