“Financially Lit!” author Jannese Torres shares how she achieved her dream of owning a home in Puerto Rico, where her family is from.
My dream was to own a home in Puerto Rico—at 37, I bought an oceanfront condo: Take a look inside my ‘slice of paradise'In 2021, I was 36 years old, and I had a big year. Thanks to the income streams that grew from my blog and podcast, I
I knew I would be stressed by the prospect of a single-story home being affected by hurricanes and flooding, so I focused on condos and apartments instead, and stayed at several AirBnBs to get to know the area better. So I put my search on hold in January 2022, and started looking again in November of that year, to give myself more time to save up enough cash to buy a property outright.When I was ready, I called my realtor. As luck would have it, she had been contacted by a seller who was ready to say goodbye to an oceanfront condo they had inherited from their parents.
My 760-square-feet, one bedroom, one bath condo was built in the 1970s. My balcony faces the ocean, the building has 24/7 security, a private pool, laundry area and assigned parking.The condo actually came furnished, which was one of the things I liked about it originally. I also pay about $1,800 a year for a property insurance policy that covers general liability, flood, theft and more.Since this isn't my primary residence, I've used the property as a short term rental on AirBnB and VRBO since May 2023. I never intended to use my condo as an AirBnB, but I decided to do a trial run and see how it went, and it has gone well.The bathroom was original and in desperate need of a renovation, so I did that in the fall of 2023 with the help of local contractors.
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