All Forum Posts by: Elvis Vasquez
Elvis Vasquez has started 30 posts and replied 138 times.
Post: Building a simple single family home in Miami (advice)

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Originally posted by @Jason Brown:
I am currently looking into the same permits and inspections process for a multi family apartment in wynwood so I would be interested in seeing any of these answers.
nice we're looking at the same neighborhood!
I've seen 3 apartment/multiplexes torn down within the past 3 months (unsure why since rent is easily hitting 1.5k+ per month now).
Post: Building a simple single family home in Miami (advice)

- Accountant
- Miami, FL
- Posts 144
- Votes 54
I want to hear of your experiences with the city of Miami for permits/inspections.
What were some of the biggest obstacles you faced?
Post: Vacation rental: best amenities - offer use of a car?

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Transfer ownership of a scooter to a LLC?
What are your state insurance requirements?
Post: Buying with Cash Avoids Owner Occupy Only Requirement?

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Does this place have an HOA?
Post: Investment property mortgage for FICO under 620

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Originally posted by @Nattapon Permchom:
This is gonna be rough. I highly recommend you bring your utilization down from 4% and work your way down to 2.5% (make sure your payment is submitted 2 days before your credit card company's statement date).
I've seen 680s jump to 750 within 3 months.
If you have debt it is best to hire an attorney to deal with it or fight the debt yourself and require a written email stating they will remove the inquiry from your credit report after you have paid X% of the debt you owe (you can usually settle for a huge discount).
Post: Lenders with FHA 203K Loan Experience!

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Originally posted by @Brie Schmidt:
Originally posted by @Victor So:
Can anyone recommend a knowledgeable lender in the Chicago area who has experience with FHA 203k loans?
Thanks!
Victor
Yes! I will PM you
Will a FHA 203K Loan allow the purchase of a property that has a illegal conversion done from a 2/1 to a 1/1?
Post: Owner Occupied P2P investor needed Miami (748 Credit score)

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Originally posted by @Melvin List:
@Elvis Vasquez on a Owner Occupied purchase I would go conventional. I have lenders that can close in as little as 7 days so I would not be worried about the time frame. Also the pre approval is for a much larger loan amount so you may want to see what the rate is based on a $70,000 purchase price.
That's an impressive timeline. just PMed you.
Post: Owner Occupied P2P investor needed Miami (748 Credit score)

- Accountant
- Miami, FL
- Posts 144
- Votes 54
Originally posted by @Melvin List:
@Elvis Vasquez I would not go HML with your credit and income. I would also not go FHA with 20% Down.
What do you recommend? BB&T's CHIP program was the best product I could find when I did my amortization calculations (HML is preferred due to the low closing cost and ability to close faster).
Post: Owner Occupied P2P investor needed Miami (748 Credit score)

- Accountant
- Miami, FL
- Posts 144
- Votes 54
looking for a investor to help with a 70k loan for a house I wish to purchase (From my amortization schedule calculations you can charge standard interest rates for this HML and it would still be cheaper than me paying a FHA or BB&T's CHIP mortgage (which I'm pre-qualified for).
I'm open to various contract clauses to enforce a safe transaction.
I have verifiable income, downpayment of 20%, Credit score of 748, and a lawyer on retainer (http://www.rexrussolaw.com/).
References from other investors and my employer are available upon request.
Please direct message me if you are interested or post below for any questions you may have.
I prefer someone from Florida if possible.
Post: I need an accountant and/or attorney

- Accountant
- Miami, FL
- Posts 144
- Votes 54
LLC filings are super easy. I would recommend you make short question summaries of your current situation and post them on Avvo for free (takes about 1-3 days for Lawyers to respond) and break your situation up into short segments that way you have multiple topics and various lawyers giving you their opinion.
I work as a junior accountant I'm sure my co-workers (CPAs) won't mind answering a few questions.
post your questions here and I'll get you some feedback.