All Forum Posts by: Carlos G.

I received my property tax information in the mail this last week. Can anyone recommend a service to appeal the assessment in order to pay lower property taxes in Miami-Dade County on properties held in an LLC?

Thanks!

@Tyler Combs, thanks for the reply. Were you using a local lender? 

I'm with @Scott P. on this one. The standard lease agreement for condos has a line that states that any repairs or replacement costs under (blank) are the tenants. I usually put $200. 

Thanks for the reply, Lexi. I'm trying to get out about ~$180K (~75% LTV). My plan is to use the cash towards a multi-fam purchase.

Not sure if I posted in the correct forum.

I own a few properties in South Florida, including a residential condo in an LLC which I've had for a number of years. I am trying to do a cash out refi. I find that the options have been very limited. For example:

• One bank wouldn't lend to me because it was in an LLC.
• One bank would max the loan at $100K.
• One bank recommended that I transfer the title to my personal name for the closing and then back to the LLC after the closing.
• LTVs ranging from 45% to 70%
• Interest rates have been about 5%, some with fixed terms. [this was the only good news, but would require some hoops]

Am I not asking the right questions or am I not going to the right institutions? I’m trying to establish a mutually beneficial relationship with a banking institution so that I can grow. Am I not going to the right place? Can someone please offer me some alternatives?

Thanks for any advice, 

Carlos

No, I had not. I will check it out. Thanks!

@LesleyRay, I have not found a designer. ☹️

as with most things, the answer is it depends. If items in the house have been updated (and of course it makes financial sense) then it may be worth it. If is hasn't been updated, it may still make financial sense--you just need to factor in the costs of repairs if and when maintenance or larger issues arise. 

Some houses with crawl space are CBS. I'm familiar with a house from the 1920's that fits into this category. As such, this type of house is much older and tends to have related issues with age unless it was updated at some point in time (e.g., cast iron plumbing, old electrical work, inside walls are not sheet rock, they are plaster, etc.). You should get an inspection to ensure that you understand the issues that you may be getting into with the investment.

I attended the weekend seminar to try to pull out some nuggets. Most of the criticisms that I have read online is that the three-day class is just one large sales pitch. I agree, but I also think that there are some nuggets for those that aren't familiar with some of the possible ways to pull together a transaction.  

My question is: are there any people out there who have gone to the advanced training and thought it was not worth it? Did anyone try one of the programs with the mentor?