Congratulations Mr. Norton. I'm located in New Orleans Louisiana and that's my goal also is to own my own hotel. But right now, I'm wholesaling and flipping houses using your training and methods.
Vexy I don’t think I’m hating on this intelligent man what I was saying is that Puerto Ricans never have crap but complain all the time 🙄 and this shows that shit is possible !!!…. Why are we not thriving ???? But we are quick to bitch about how we are suppressed blah blah … this man did an amazing job the is NO hate or negative energy I’ve actually learn a ton from his videos !! 🙏🏽💯💯
Hey Jerry, don’t listen to the doubters and haters in the comments. You’ve made it this far and you’re a flipping genius. The creative financing alone is evidence of that. I believe y’all will figure out the theme and make it very profitable, looking forward to more videos on this project! Best of luck and God bless you and your family!
Congratulations Jerry. I have been studying commercial real estate for some years now and am so happy to hear all the terms and formulas you are using that I know fluently. You are awesome Jerry. I hope every investment in commercial realm you are super successful in. You deserve it man! Much love. 🤘
Wow😊very informative video thank you Jerry for such valuable information!! I'm new at this and I really need this to happen for me, starting on wholesale 😊
Absolutely brilliant video content I would strongly recommend do a separate video on creative financing and which lenders should we approach top 5 recommendations!
What a crazyyyyy cap rate bro would love to know the story on how you came around to finding that deal and how’d you get them to agree to creative financing
On so its a 4 million dollars all in ? Looks absolutely amazing man. Btw.. thanks for being soo transparent and sharing info. It really helps people out .
Sine the hotel is in a art district, I would recommend you a Modern Art hotel, you could create little photo booths, not only that you attract different groups of interest, in one. Why go back home when you can spend the night there. You need to make the hotel look like sections/pieces of art!
Like why waste your time and money for one subject, which no offense I love Alison In Wonderland, but you could show/make other forms of art and gain a bigger market it's universal.
Jerry thats great! You , Pace and Brent helped motivate me.. Are you using Rachel? Or a different transaction coordinator out there? I'm getting everything structured now. Hopefully we can connect out there. Have a Happy Thanksgiving to you and yours
My daughter's name is Alice. She would love an Alice in Wonderland theme! Man, I've prayed about this Real Estate, and the Lord is saying walk into it.
So do u have to have approval to use Alice in wonderland characters and words due to copy right. They have been talking bout this a little in subto group. Thanks for this video.
I was very impressed by the creative financing for this project. One question that remains in the back of my mind is how vulnerable is this area to hurricanes? Does that bother you and how did you build your risk into that equation?
Jerry, great video as usual, you are a flipping genius!! Do you and/or your partner buy land? I have a property in the DR - beachfront property, 13 pristine acres. Already zoned for development. I believe it is undermarket price. Can we talk?
When you say you had “little to no money out of pocket”, how much exactly did you have to give out of pocket? I’m trying to do something similar and curious how much out of pocket you needed in order to do this.
My friend is a phenomenal artist if you guys are looking to have your artwork done on those walls he is one of the best that I know and you definitely cannot go wrong with hiring him he's very ethical just creative artistic and somebody I highly recommend
@@FlippingMastery great I have passed the information on to him he should be reaching out I really have to say thank you so much for sharing your experience your knowledge and your family with us you guys are so amazing and just to see the energy you guys put out is so beautiful so thank you thank you I bought one of your programs I'm a big supporter and even when I was talking to my friend I was telling him I love the way you do business so ethical so straightforward so in the benefit to see everybody win keep shining
Hey boss, I’m looking to put my house on the market right now and move out to Puerto Rico once it sells. I’m a real estate developer and I buy lots and build homes but I would love to find a way to partner up with you on a deal over there for a hotel or multi family apartment. Let me know if you are interested in something like that.
Why only a couple hundred thousand tax credit? Not 40% of 2.6 mil or $520k? And can you sell the credit to any Puerto Rican or how about american if fed credit? Factor it? 90%? And opportunity zone is 8 years right-what’s terms on that? Any cocaine mafia shakedowns or crooked cop payoffs?
Cease and Desist from Disney incoming. Why do people think you can just steal intellectual property and likeness for a commercial venture? Also, Alice and Wonderland theme caters to such a narrow demographic of interested clientele.. a more broad art theme with local artists?
“Alice in wonderland”??? I think people want modern or Miami chic. I don’t hear your people saying “I think I want to stay at the Alice in wonderland hotel”. Please Get some women designers in there, or y’all gonna have people looking confused.
My client is looking for partners for a hotel conversion project for a city in need of affordable housing. Property estimate value $20MM. I'm working g negotiating the asking $3.5MM for her. The city is currently developing huge projects such as rail roads, multifamily property and shopping center to attract more people to the city. So that means the subject property will double value. This beautiful sister is in need of trust worthy connected partner to renovate this historic hotel.
Damn bro you took my comment down because I’m telling my people to empower themselves because we are jokes over there and that everybody else owns everything but Puerto Ricans ,I am not saying that your success anywhere you are is not to be celebrated shit actually I would rather you post more pictures and videos to show my people what’s possible so please don’t take this the wrong way let this comment motivate
Too animated.. it’s 2022 when people are staying at a hotel the want the modern undated clean look. Not something for a children movie. Nothing against p.r. But Area doesn’t look desirable. At your level Jerry you can get in a more promising hotel or subdivision. If I was you I’ll pass. You asked and I’m telling you.
@@FlippingMastery This is true, the numbers are great but remember that’s projected. If you decide to go with a more modern look I think that’s a better way but besides the numbers personally I’m just not feeling it but you obviously feel different so it is what it is
PR has been exploited by this country in so many ways for so long greater than any other American colony. Puerto Ricans have been since day 1 and are still being exploited. They are the real 2nd class citizens of the U.S.A today. There is a lot you clearly are not educated on when it comes to the island of Puerto Rico and to think that it has nothing to do with the states you are sadly mistaken. Puerto Rico is a very big contributor to FEMA and is also donating to the states when there are natural disasters. Even when the island was going through the worst during Hurricane Maria it was still donating to FEMA. Impoverished neighborhoods in the USA have everything to do with local government not investors. Don't hate on PR because people are investing there instead of some blue city with anti-business laws that pushes away businesses and investors. Get your facts straight before making such ignorant comments.
Because there are no taxes in PR. It's what the opportunity zones were trying to achieve in the US... but Democrats took over. Write your local woke politicians
Yea because Puerto Rican want to move out instead of fixing up the family house or getting together and buying things themselves. I love PR and it’s sad the natives don’t see the treasure they have
@@WeJessGlowTogether Don’t pay attention this people are talking about things they don’t understand. Usually very young folks wanting to be the most patriotic!
Congratulations Mr. Norton. I'm located in New Orleans Louisiana and that's my goal also is to own my own hotel. But right now, I'm wholesaling and flipping houses using your training and methods.
Dude you are the king of flipping, Puerto Rico loves you and your family
Vexy I don’t think I’m hating on this intelligent man what I was saying is that Puerto Ricans never have crap but complain all the time 🙄 and this shows that shit is possible !!!…. Why are we not thriving ???? But we are quick to bitch about how we are suppressed blah blah … this man did an amazing job the is NO hate or negative energy I’ve actually learn a ton from his videos !! 🙏🏽💯💯
Hey Jerry, don’t listen to the doubters and haters in the comments. You’ve made it this far and you’re a flipping genius. The creative financing alone is evidence of that. I believe y’all will figure out the theme and make it very profitable, looking forward to more videos on this project! Best of luck and God bless you and your family!
Hey Jerry! Went by to see the hotel last night. It’s looking amazing! Can’t wait to see it finished.
Stalker
Congratulations Jerry. I have been studying commercial real estate for some years now and am so happy to hear all the terms and formulas you are using that I know fluently. You are awesome Jerry. I hope every investment in commercial realm you are super successful in. You deserve it man! Much love. 🤘
Jerry. I’m visiting the island late February. I’ll be stopping by to check this out. This is flipping awesome!
I saw this deal on Craigslist. Jerry you're a flipping genius!
Wow😊very informative video thank you Jerry for such valuable information!! I'm new at this and I really need this to happen for me, starting on wholesale 😊
Thank you for sharing. We would love to see some more PR flipping projects, or whatever else you have in the pipeline.
Absolutely brilliant video content I would strongly recommend do a separate video on creative financing and which lenders should we approach top 5 recommendations!
Pedro is one of the partners 😂 good luck with that hotel in Santurce 😂
Amazing love the longer content
What a crazyyyyy cap rate bro would love to know the story on how you came around to finding that deal and how’d you get them to agree to creative financing
Awesome! A very creative structure
You’re starting to get on THE BIG BOSS Ben Mallah’s level. Keep going Sherry!
I'm coming to PR for Christmas & I'm staying there. I hope to meet you!
I hope so too!
What’s the Intrest rate with hard lender ? And what’s the rehab cost ?
Thank you.
Not sure a the , roof top swing across buildings , safety and liability issues .. especially if there alcohol being served . But , great project .
Hi Jerry, how much is the monthly payment of the 3 yr refi loan in 1st loan position, and when do you start making payments?
Those who buy now when PR is a state would have a lot of money, but if statehood passes!
Amazing this is the kind of thing I see myself doing on the future only if I can pick up those stupid phones
The big deluxe rooms have to be the top ones that way you can price for max number(w.e that number is for you) but it’s amazing
Whats the windstorm premiums over there.
Hi Jerry, been following you and love how hotel came out. You bought it for $2.6. But how much was renovation of hotel spaces and 22 rooms ?
$1.5m
On so its a 4 million dollars all in ? Looks absolutely amazing man. Btw.. thanks for being soo transparent and sharing info. It really helps people out .
Sine the hotel is in a art district, I would recommend you a Modern Art hotel, you could create little photo booths, not only that you attract different groups of interest, in one. Why go back home when you can spend the night there. You need to make the hotel look like sections/pieces of art!
Like why waste your time and money for one subject, which no offense I love Alison In Wonderland, but you could show/make other forms of art and gain a bigger market it's universal.
Good point! We’re considering a completely new direction
What about the rehab budget????
$300k
Jerry thats great! You , Pace and Brent helped motivate me.. Are you using Rachel? Or a different transaction coordinator out there? I'm getting everything structured now. Hopefully we can connect out there. Have a Happy Thanksgiving to you and yours
Flipping genius!
Great video, I didn't hear you talk much about the renovation costs. Did you use your own funds for that?
If you made an edited version of where you have removed 'we could put a thing over here...' your video would be 5 mins long. Good luck to you both!!
My daughter's name is Alice. She would love an Alice in Wonderland theme! Man, I've prayed about this Real Estate, and the Lord is saying walk into it.
Excellent addition to the Art District! You should consider a partnership with 360bistro and move it closer.
What’s your thoughts on the book: “ never split the difference” by Chris Voss?
So do u have to have approval to use Alice in wonderland characters and words due to copy right. They have been talking bout this a little in subto group. Thanks for this video.
Can't Disney sue though if you use their characters?
I’ve been planning a to visit Puerto Rico. Would love to stay in your hotel once it’s finished! Will it ready by January ?
I was very impressed by the creative financing for this project. One question that remains in the back of my mind is how vulnerable is this area to hurricanes? Does that bother you and how did you build your risk into that equation?
I think I saw a line item there for insurance.
dude, travel more.. oh no a HuRacaineeeiii!
I get this question a lot. Just as likely as the East Coast of USA.
no flooding in that area, pretty safe. i live close by
Jerry, great video as usual, you are a flipping genius!! Do you and/or your partner buy land? I have a property in the DR - beachfront property, 13 pristine acres. Already zoned for development. I believe it is undermarket price. Can we talk?
When you say you had “little to no money out of pocket”, how much exactly did you have to give out of pocket? I’m trying to do something similar and curious how much out of pocket you needed in order to do this.
$100k down plus closing fees
@@FlippingMastery 👌🏼thank you
You forgot the fix it up redesign cost what was that?
Great
My friend is a phenomenal artist if you guys are looking to have your artwork done on those walls he is one of the best that I know and you definitely cannot go wrong with hiring him he's very ethical just creative artistic and somebody I highly recommend
Definitely! Send me DM on IG @flippingmastery
@@FlippingMastery great I have passed the information on to him he should be reaching out I really have to say thank you so much for sharing your experience your knowledge and your family with us you guys are so amazing and just to see the energy you guys put out is so beautiful so thank you thank you I bought one of your programs I'm a big supporter and even when I was talking to my friend I was telling him I love the way you do business so ethical so straightforward so in the benefit to see everybody win keep shining
send the info:)
Hey boss, I’m looking to put my house on the market right now and move out to Puerto Rico once it sells. I’m a real estate developer and I buy lots and build homes but I would love to find a way to partner up with you on a deal over there for a hotel or multi family apartment. Let me know if you are interested in something like that.
Why only a couple hundred thousand tax credit? Not 40% of 2.6 mil or $520k? And can you sell the credit to any Puerto Rican or how about american if fed credit? Factor it? 90%? And opportunity zone is 8 years right-what’s terms on that? Any cocaine mafia shakedowns or crooked cop payoffs?
This is not Mexico .. you ignorant..
Its Puerto Rico we have FBI, ICE and all the United States law..
Cease and Desist from Disney incoming. Why do people think you can just steal intellectual property and likeness for a commercial venture? Also, Alice and Wonderland theme caters to such a narrow demographic of interested clientele.. a more broad art theme with local artists?
Bad bunny not gonna like this one 😂. Love the content jerry
True! 😂😂😂
When you asked I told you not to do it Jerry, your flying too close to the sun.
“Alice in wonderland”???
I think people want modern or Miami chic.
I don’t hear your people saying “I think I want to stay at the Alice in wonderland hotel”.
Please Get some women designers in there, or y’all gonna have people looking confused.
How does opportunity zone work here? Must be black neighborhood and registered in advance right? Your going to sell it using this or what?
My client is looking for partners for a hotel conversion project for a city in need of affordable housing. Property estimate value $20MM. I'm working g negotiating the asking $3.5MM for her. The city is currently developing huge projects such as rail roads, multifamily property and shopping center to attract more people to the city. So that means the subject property will double value. This beautiful sister is in need of trust worthy connected partner to renovate this historic hotel.
Damn bro you took my comment down because I’m telling my people to empower themselves because we are jokes over there and that everybody else owns everything but Puerto Ricans ,I am not saying that your success anywhere you are is not to be celebrated shit actually I would rather you post more pictures and videos to show my people what’s possible so please don’t take this the wrong way let this comment motivate
Too animated.. it’s 2022 when people are staying at a hotel the want the modern undated clean look. Not something for a children movie. Nothing against p.r. But Area doesn’t look desirable. At your level Jerry you can get in a more promising hotel or subdivision. If I was you I’ll pass. You asked and I’m telling you.
Did you see the financials? This is an awesome project!
@@FlippingMastery This is true, the numbers are great but remember that’s projected. If you decide to go with a more modern look I think that’s a better way but besides the numbers personally I’m just not feeling it but you obviously feel different so it is what it is
younger demographic = no monies
$99/night
Wow! This sounds like a great way to go completely bankrupt. I wish you the best but that much debt? Holy cow!
Why Immigrants invest $2.6m in poverty country don’t invest $2.6m in America poverty neighborhoods
PR has been exploited by this country in so many ways for so long greater than any other American colony. Puerto Ricans have been since day 1 and are still being exploited. They are the real 2nd class citizens of the U.S.A today. There is a lot you clearly are not educated on when it comes to the island of Puerto Rico and to think that it has nothing to do with the states you are sadly mistaken. Puerto Rico is a very big contributor to FEMA and is also donating to the states when there are natural disasters. Even when the island was going through the worst during Hurricane Maria it was still donating to FEMA. Impoverished neighborhoods in the USA have everything to do with local government not investors. Don't hate on PR because people are investing there instead of some blue city with anti-business laws that pushes away businesses and investors. Get your facts straight before making such ignorant comments.
Because there are no taxes in PR. It's what the opportunity zones were trying to achieve in the US... but Democrats took over.
Write your local woke politicians
He getting a tax break by doing this in Puerto Rico
I think you didn't see the entire video!!!.
Puerto Rico is the U.S.
🇵🇷🏆
Yes! More Gentrification!! Good job man! PUERTO Rico will be filled with non Puerto Ricans in no time! Thank you guy!
How so? Americans aren’t going to come to PR just to go to that hotel, it’s meant to draw in younger people being Americans or PRs lol
Yeah now Puerto Ricans get jobs
Yea because Puerto Rican want to move out instead of fixing up the family house or getting together and buying things themselves. I love PR and it’s sad the natives don’t see the treasure they have
@@WeJessGlowTogether Don’t pay attention this people are talking about things they don’t understand. Usually very young folks
wanting to be the most patriotic!