All Forum Posts by: Abdullah Rubiyath

Thanks everyone. This is great learning for me. I am speaking with my Brokerage and they are offering me securities-based lending. Basically, Line of credit based on my stock portfolio which will give me access to cash anytime at reasonable interest rate which I can use for closing the house and then finance the house.

Thanks! I didn’t realize it. I am working with a realtor and was told of such. 

Offer would be cash and not contingent on financing and that subject would not change. Nothing changes from seller's perspective and contract. I have the liquid but due to historic low interest rate of 2.8%, I would want to use financing since its almost free money and in my case it also involves selling securities to get the cash. If I can't get a lender, i will use my cash as last resort to close the deal.

I got my answer from this video. TLDR; Its fine to get loan even if you cash and place an all cash offer []. 

its in the state of Florida if that makes a difference. I just want to make sure I am not doing anything illegal by putting all cash offers if I end up using conventional financing (though I have the liquid funds available in a combination of cash and stocks)

Hello everyone,

I am considering putting all cash offer (I have funds available - read more below), but I will be using conventional financing as it will be owner occupied by myself. Could anything go wrong?.

I found a thread discussed with doesn't cover my scenario. 

https://www.biggerpockets.com/...

I have the 30% cash available of property price (and the rest 70%+ are all invested in stocks) but I can sell my stocks to get the cash in 3-5 days (SEC clearing of funds). I am realizing putting all cash offers is a way I can get ahead and avoid competition. I plan to use conventional mortgage because (1) If I sell my stocks, I will need to pay capital gains tax of my stock gains and (2) I won't be able to subtract interest deduction during year end tax.

But, I am wondering could anything go wrong? I mean worst case if lender doesn't approve, I can always sell my stock and get the cash to close the deal. Please advice. 

Thanks for your response @Carlos Rovira. I will DM you.

Hello everyone,

I am looking to buy a MFH (Duplex, Triplex etc.) in South Miami with each side 2+ bedroom/1+ bath. I really like Coral Gables neighborhood but I am open to other areas in South Miami. I plan to live in 1 unit and rent out the other unit. I am willing to spend upto ~650k (with a 20% downpayment). I plan to spend ~4 months of the year in Miami and the rest in another state. When I am out of state, I plan to Airbnb out the unit. 

These are my criterias:
- Long term appreciation and 8%+ cash on cash ROI (if I had bought as investment property)
   - Most properties I have looked at in Coral Gables are barely crossing 6% cash on cash on ROI. Is this expected?
- Very desirable neighborhood with good schools and good income
- Walkable to a good extent
- Low vacancy

Questions:
- What are the good neighborhoods in South Miami where I can get 8%+ cash on cash ROI with above criteria. Is Coral Gables a good area to invest?
- Whats the best way to find deals? I am using realtor.com? 

Thank you for reading!

Huge congrats! Great job on timing the market in selling the home too. Home prices in GTA is expected to have some correction in coming months.

I have properties in Ontario and I have been noticing cap rates been steadily compressing a lot. If you wish to look outside Ontario, I would recommend Winnipeg. Cap rates in Winnipeg is still considerably higher Windsor/Chatham or London/KW region.

Hello Kent,

I am also here on TN work permit.  Did you try Credit Unions or did you just apply at major Banks like JP Morgan Chase?

I have found that Credit Unions have more relaxed policies for non-US citizens/residents. Here in Washington state, First Tech Credit Union offered me good interest rate and also gave me the option to buy principal residence at 10% downpayment. Also, some Credit Unions offers great deals to certain Employers. For example, First Tech offers special rates to Microsoft employees.

All the best!