Business View Caribbean - August/September 2018

42 43 PREFERRED VENDOR n HI Development PR Corp. www.hidpr.com H.I. Development Corp was founded in 1959 and is based in Tampa, Florida. It manages various real es- tate investments in the United States, Central Amer- ica, and the Caribbean, including hotels and resorts, casino gaming, and bars and restaurants. Its services include: strategic planning services, such as asset management, feasibility analysis, and capital plan- ning; marketing plan/analysis, e-commerce, and me- dia advertising services; HR management, technical, and performance evaluation services; and accounting services, including financial statements, forecasting and budgeting, and compliance and auditing. While devastation was widespread, the Caribbe- an is known for its resilience and Puerto Ricans have shown amazing strength in spite of the hardships. There continues to be an influx of people coming in and buying property either for flipping or buy and hold for rentals, along with a super influx of federal funds injected into the island for the recovery, which are creating jobs and growth in existing and new sectors of the economy. Puerto Rico has been in a recession for the last ten years, but opportunities now are amazing. Hernandez says, “We have customers that are coming in to the market to flip prop- erties, and earn 30% ROI-plus, and others are buying and holding achieving more than 15% ROI in Rental Income-plus the equity apprecia- tion. For every investor or property owner there will be a business opportunity.” Many owners don’t want to worry about proj- ect management, collecting rent, dealing with tenants, administering contracts, or even prepar- ing their property for flip or rental, as property management is a complex business requiring specialization in these areas. Home-based in San Juan, Puerto Rico, PMI has over 60 contractors on its payroll and stra- tegic alliances agreements with international firms such as Keller Williams, a partnership that PMI PUERTO RICO brings more than 200 sales people into PMI’s sales network to expand on brokerage ser- vices and Property Management services for its clients. “Three years from now, I see us as a very im- portant franchise in Puerto Rico with a large network of franchises and a sizable portfolio of services for our clients,” says Hernandez. “Property owners interested in finding a reli- able asset management company with state- of-the-art technology and with experience ranging across all types of property types can contact us, because in PMI, ‘We Make Property Management, Manageable!’”