Posted by Abraham Santiago on May 20, 2006 at 13:32:44:
Hello to everyone:
I’m currently on the beginning stages of investing in Puerto Rico having currently a few houses under contract. One of the main issues I have here is that land trust are not revocable due to an old Spanish not investor friendly law as researched to some of the REICLUB members. What other option do you guys see to overcome this problem could I actually use the Illinois type of trust here or other? Also, how do you guys do to minimize or maybe avoid the burden of capital gain taxes besides of using the 1031 tax deferred taxes? Thanks to all, I will appreciate a lot your valuable input.