Qualifications: Real Estate




Iván R. Canino-Rivera, MBA, ASA, MIE
Real Estate, Business, Machinery & Equipment Appraiser
General Certified Appraiser
AQB Certified USPAP Instructor

P.O. Box 192044
San Juan, PR 00919


Phone: (787) 640-5086


Accredited Senior Appraiser (ASA) by the American Society of Appraisers in
Machinery & Technical Specialties w / Concentration in Machinery & Equipment.
ID Number: 99771

Licensed Professional Real Estate Appraiser
Commonwealth of Puerto Rico
License No. 35 (1975) Expiration Date, December 19, 2015.

General Certified Appraiser for Federally Related Transactions
Certification No. 34 (1997) Expiration Date, December 5, 2016.

Certified USPAP  Instructor
Appraisal Qualification Board of the Appraisal Foundation
Certification No. 31520 (2012), Expiration Date, March 31, 2016.

Designated Member (MIE) of Instituto de Evaluadores de Puerto Rico
Certification No.110

Professor of the Appraisal Modules
Polytechnic University of Puerto Rico
Geomatic Science Department


Interamerican University of P. R. Bachelor in Arts- BA
Major in Economy and Business Administration (1963-1966)

University of Phoenix Puerto Rico Campus
Master of Business Administration- MBA (2008-2010)




Local Agencies   

Puerto Rico Industrial Development Company

Puerto Rico Land Administration

Puerto Rico Highway Authority

Puerto Rico Housing Bank

Puerto Rico Department of Justice

Puerto Rico Ports Authority

Puerto Rico Telephone Company

Puerto Rico Sports and Recreation Department

Puerto Rico Commission for the

Transfer of Land and other Federal Properties

New San Juan Center Corporation

Federal Agencies   

Housing and Urban Development Department

Federal Deposit Insurance

Federal Bureau of Investigation

Small Business Administration



U.S. District Courts for PR

U.S. Bankruptcy Court


Superior and District Courts of San Juan/ Condemnation

Superior and District Courts of Carolina

Superior and District Courts of Bayamón

Superior Court of Ponce

Superior Court of Mayagüez

Superior Court of Aibonito

Superior Court of Fajardo


I have been dedicated to the appraisal of real property in Puerto Rico for over the past 40 years.  Also,  acquired  expertise  in  the  disciplines  of  Real Property, Business  Valuation, Machinery &  Equipment and Consulting. Presently, my practice is dedicated to all types of income producing commercial properties, machinery & equipment, business valuation and consulting assignments. I am accredited by government’s agencies, as well as commercial banks and mortgage lenders to appraise properties. In addition, I am qualified as an expert witness by the local and federal courts to provide testimony regarding all types of properties rights valuations. Recipient of a B.A. degree in Economy and Business Administration from the Interamerican University of Puerto Rico, and a Master Degree (MBA) of the University of Phoenix, Guaynabo Campus, Puerto Rico:  A Licensed Appraiser by the Puerto Rico Appraisers Board, a General Certified Appraiser and a Certified Instructor of the Uniform Standards of Professional Appraisal Practice (USPAP) courses by the TAF Appraiser Qualification Board. Hold two Professional Appraiser Designations: a Designated Member of the Instituto de Evaluadores de Puerto Rico (MIE) in Real Estate and an Accredited Member of the American Society of Appraisers (ASA) in the discipline of Machinery & Technical / Specialties with a concentration in Machinery and Equipment. I have taken over three thousand five hundred hours in appraisal courses and seminars; receiver of Puerto Rico Realtors Association’s Most Distinguished Appraiser of the Year award for 1987 and other peer recognitions.

I have lectured extensively in many of Puerto Rico’s universities, commercial banks and specialized appraisal and financial schools; was the developer of the Construction and Sales Activity Report of the San Juan Metropolitan Area and the Census Tract and HUD Map Report for Puerto Rico.  Developer / instructor of the following seminars: New Changes in the URAR-2005;  Federally  Related  Transactions;  Appraisals  of  Motels;  Appraisal  Review  of  Income Producing Properties and, the Dodd-Frank Act-Appraisal Provisions Seminar. Also, instructor of basic and advanced appraisal courses for the past twenty five years. Was the Executive Director of the Real Estate and Home Improvements Supplement of The San Juan Star newspaper and maintained a weekly column in the same newspaper called Ask your Appraisers. I have held public positions in the Government of Puerto Rico, such as, Executive Director of the Puerto Rico Land Administration and Secretary of the P.R. Urban Housing Renewal Corporation Liquidation of Accounts Board. Was a consultant to the Bank Association of Puerto Rico; Chairman of the Board of the former Swiss- Puerto Rican Trust Company.  The Vice-President of the Instituto de Evaluadores de Puerto Rico, past President of the Former Colegio de Evaluadores de Puerto Rico, former Director of the Board of the Mortgage Bankers School of P.R. and Vice-President of the former Society of Real Estate Appraiser- P.R. Chapter.  During 2007 to 2013, I was the representative of the Instituto de Evaluadores de Puerto Rico to The Appraisal Foundation (TAF) in Washington, D. C.  I participated in the following Councils: The Appraisal Foundation Sponsors Council; Secretary of the 2013 board of The Appraisal Foundation Advisory Council, and Past vice Chair of the Appraisal Standard Board Committee of the TAF Advisory Council.

Canino, Romaguera & Associates, is a multidisciplinary appraisal firm; Eng.  Mariano A. Romaguera PE, ASA is deceased, however, the last name of Romaguera has remained as part of the name of the firm.


Instituto de Evaluadores de Puerto Rico

Vice President (2008-2012)

American Society of Appraisers

Accredited Senior Appraiser (ASA) (2011-present)

Instituto de Evaluadores de Puerto Rico

Representative to the Appraisal Foundation

Washington, DC (2007-2013)

La Cámara Oficial Española de Comercio en Puerto Rico Associate Member (1991-present)

Mortgage Bankers School of Puerto Rico (MBS)

Former Member of the Board of Directors (1988-1991)

Mortgage Loan Officers Association of PR (M-Loan)

Affiliate Member (1985-present)

Colegio de Evaluadores de Puerto Rico, Past President  (1972-  1974)


Existing / Proposed Single Family / and Multifamily Residential Developments.

Commercial / Institutional / and Industrial Properties. / Rural land / Urban Land, / Sub-Divisions.

Special Purpose Properties / Eminent Domain Cases in: Rights of Way on Easements; Partial and Total Acquisitions.

Machinery and Equipment / Personal Property / Content / Inventory / and Leasehold Improvements.

Proposed / Existing Condominiums / Rental Apartments / and Conversion Projects. Historic Properties / Automobile Dealerships / Cold Storage Warehouses / and Sand-Gravel Pits.

Military Installations / Water Front Properties /Terminals / Piers / Tank Farms / and Sugar Mill Complexes.

Type of Values-

Market / Investment / Fee Simple / Leased Fee / Leasehold Values:  Liquidation / Orderly & Forced / Insurance / Damages

Appraisals by Classification of Uses


Dairy / Livestock / Pasture / Ranch / and Permanent Crops Farms.

Assembly / Meeting Place:

Armory / Club / Lodge / and Religious Facilities.

Health Care:

Acute Care Hospital / Behavioral Care Facility / Clinical Laboratory / and Medical Center and Offices.


Industrial Business Park / Manufacturing (Heavy, Light, High-tech) / Office / Showroom,

Processing / Production / Refinery Facility / Self-Storage Facility / Air Cargo / Storage and Distribution Warehouses / Loft Storage / Refrigerated / Cold Storage).


Undeveloped Land / Easement (Conservation / Preservation, Flowage, Right-of-Way), Industrial / Multifamily / Office, Park / Open Space / Residential Subdivision / Retail Pad / Water Related (Coastal, Island, Flood Zone, Wetland / Marshland).

Lodging and Hospitality:

Casino Hotel / Economy/ Limited Service / Full-Service / Luxury / Mixed-Use Commerce-Hotel / Motels


Garden and Low Rise Buildings / Government-Subsidized / and Mid/Hi-raise.


Office Buildings (Mid and high-rise, multi-tenant) / Institutional / and Governmental.


Car Wash (Full Service, Hybrid, Self-service) / Convenience Store / Day Care / Mixed use

Office / Parking (Garage & Surface) / Post Office / Restaurant (Fast Food, Full Service,

Limited Service, Sit down) / Multi-screen Theater / Retail Pad / Tavern / Bar / Nightclub / Service

Gas Station / Freestanding Building (Bank Branch, Big Box, Department Store, Grocery)

Freestanding: Vehicle Related (Dealership, Lube, Tire, Service and Repair).

Senior Housing:

Assisted Living, Senior Housing/ Continuing Care Retirement / and Skilled Nurses.

Shopping Center:

Community / Convenience / Strip / Fashion / Specialty / Neighborhood / Power Center /and Regional Malls.

Special Purpose:

Airports / Hangars / Cemetery / Mausoleum, / Courthouses / Funeral Homes / Mortuary / Landfill / Marinas,

Military Installations Facilities / Outdoor Signs / Salvage Yard / Sawmill / Lumberyards / Schools / Universities / Tank Farms / Petroleum and Gas Storages / Truck Terminals / Hub Transit Facilities.


University of Puerto Rico

Real Estate Principles Course

Real Estate Appraisal Course

Real Estate Financing Course

Cost Estimating Course

Urban Potential & Development of Land in Puerto Rico Course

Land Valuation Course

Residential Appraisal Course

Appraisal Institute

Methods, Techniques and Principles of Real Estate Appraisal Course

Section 8/HUD-Rent Comparability Studies Seminar

Apartment Appraisal Course

Subdivision Analysis Seminar

Real Estate Market Trend Symposium

USPAP Course

Appraising Local Retail Properties Seminar

Consulting Seminar

Real Estate Finance, Value and Investment Performance Seminar

Appraisal Consulting Seminar

Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets

Society of Real Estate Appraisers

Introduction to Appraising Real Property Course

Depreciation Seminar

Residential Appraisal Seminar

Tax Considerations in Real Estate Transactions Seminar

Feasibility Analysis Seminar

Commercial Appraisals Seminar

Mortgage Equity Capitalization and Investment Seminar

Valuation of Lease and Leasehold Interest Seminar

Condominium Appraising Seminar

R-2 Exam- Single Family Dwelling

Marketability and Market Analysis Seminar

Basic Money Market & Economic Analysis Seminar

Depreciation Analysis Seminar

Income Capitalization Seminar

R-41-B and the Appraisers FHLBB Appraisal Standards and Guidelines Seminar

Uniform Residential Appraisal Report Seminar

R-41-C and the Appraiser Seminar

National Flood Insurance Seminar

Real Estate Valuation Using Spread Sheets Seminar

Income Property Valuation for the 1990’s Seminar

Subdivision Analysis Seminar

An Introduction to Appraising Real Property Course

Principles of Income Property Appraising Course

Residencial Appraisal Course Curse

Instituto de Evaluadores de Puerto Rico

Rural Farms Appraisal Seminar

Successions and Donations Seminar

Condemnation and Appraising Real Estate seminar

Condemnation Course I

Mathematics for Real Estate Appraisers Course

Real Property Appraising Course

Condemnation (Advanced Level) Course

Uniform Standard and Professional Practice Course

Machinery and Equipment Appraisals Course

Economic Principles Seminar

Appraisals of Right of Way Easement Seminar

Advanced Capitalization Course

15 Hours USPAP Course

“Seminario de Tasación de Fincas Agrícolas”

“Seminario de la Inspección Residencial, Comercial e Industrial”

“Seminario de Regionalización y Plan de Uso de Terrenos de Puerto Rico”

“Curso de Excel para Tasadores”

“Tasación de Facilidades de Telecomunicaciones”

American Society of Appraisers

1976 International Appraisal Conference in Boston (M-E Section)

Introduction to Machinery and Equipment Valuation (ME-201)

Machinery and Equipment Valuation Methodology (ME-202)

Machinery and Equipment Advanced Topics- Case studies (ME-203)

Machinery and Equipment Valuation- Advanced Topics and Report Writing (ME-204)

Ethics and the Appraiser

Data Reference-An Online M&E Resource)

Valuation Performed for Financial Reporting Purposes

Positive Trends in Plastics Machinery & Equipment Values

Economic Obsolescence: Quantitative Methods for Analyzing External Factors

Impacting Value

Valuing Business Aircrafts

Other Courses and Seminars

Mathematics of Real Estate Appraisers Course

Legal Aspects in Real Estate Valuation Seminar

Introduction to Real Estate Investment Course

FHA & Conventional Appraisals Seminar

Appraisal Seminar Made on the URAR Form (FMLMC 70 FNMA 1004)

Appraisal Reviewing Seminar

Creative 35 MM Techniques Course

FNMA- Today’s Alternative Seminar

Standards, Practices and Ethics for the Real Estate Appraiser Seminar

Underwriting Seminar Freddie Mac and M-Loan of Puerto Rico

Concept and Principles of the USPAP Course

Valuing Quarries & Mines