Introduction

Hi Andrew!

Welcome to Expat.com

Armand

Hi - just joined this forum. My wife and I just returned from an 11-day trip to the island and had a really great time! We are now thinking of eventually semi-retiring there in a year or two. We are thinking of first buying a condo somewhere in the Rincon area and using it as rental property, traveling there a few times a year for a week or two at a time. Does anyone on here know anything about the rental market for condos?

We are both college professors and teach English (writing of various types and literature) and would be very interested in learning more about the possibilities of teaching English at the college level, either in a classroom or online - we are both experienced online teachers. Anyone on here know anything about that?

Our Spanish is minimal but we have traveled extensively in Costa Rica and Mexico and find that we pick it up pretty quickly once embedded in that environment. We would probably eventually become fluent in it, as we force ourselves to use it regularly when we travel. When we were in Puerto Rico a few weeks ago we regularly frequented restaurants, pinchos (sp?) and stores where Spanish was preferred and - with our trusty dictionary and some patience - had very few problems.

And finally any general advice and guidance on possibly moving there would be greatly appreciated.

Thanks for the help.

Mike & Ann
Rochester NY

Mike, Rincon is a popular area and you should have little problem renting to vacationers. However, managing and scheduling as well as housekeeping and maintenance from a distance would be a challenge. Finding reliable help may be a challenge.

When you purchase a property, be sure to visit the water(AAA) and electric (AEE) companies with the seller in order to make an accurate start with services. I have heard reports of new buyers getting charged for the seller's last usage. A cash deposit will be needed for both offices.

Be wary in dealing with the banks and mortgage companies if that is necessary. They will try to get over any way they can. Dealing with the Co-Ops is recommended.

The 'professional' that assessed my property reported that the house had a tin roof which skyrocketed my house calamity insurance (the insurance was bank - 1B - provided, of course). The roof is obviously solid concrete and likely was never eyeballed and mis-reported. Also, the bank mis-reported my residence to the CRIM and charged me double property tax escrow for nearly two years. Was a nightmare getting even some of it refunded. Get an English/Spanish financial pro on your side. My abogado (not so cheap and assigned by the bank) was useless.

Be aware of the 'import taxes' on vehicles, etc when the time comes to move if you might wish to take your vehicles and HHG rather then sell and repurchase here. Vehicle import taxes are high and they accept cash only at the office.

Patience will be needed as the official wheels turn very slow out here. Not hard to deal with but can be frustrating.

Living in the Rincon area should be fairly easy with the large English speaking community. I'm in Hatillo and it's not greatly difficult to get things done.

Andrew