All Forum Posts by: Raymond J. Rodrigues

@Adriana Mendonca it's nearly impossible to cash flow in Miami while occupying one of the units in a residential multi-family property. Be careful when purchasing with an FHA loan for anything more than 2 units, because FHA has what is called the self sufficiency test. Conventional does not, when purchasing multi-family. The self-sufficiency test is never passed these days, thus making FHA financing ineligible for 3-4 unit properties. If you have any lending questions, always help to help you! Feel free to reach out and we can discuss. I'm local here in Miami.

@Garrett Adams, always feel free to reach out if you have any lending questions.

Side note, if you are not working with an investor/investor friendly agent, which few usually check off both of those boxes, I recommend reaching out to @Josh Green. He's probably one of the only agents on this forum that covers the area that is well versed in all things real estate investment that I have worked with on countless transactions. If nothing else, having a conversation with him will really enlighten you in many ways! 

@Matthew Davey it sounds like you’re in an area that requires all properties to have windstorm coverage and that the first lender just missed it to begin with. Are you in Florida? 

@Michael Lipford I love to hear that. I’ve worked with Josh for years! He’s an amazing guy. Highly recommend him. 

@Michael Lipford, @Josh Green has been in a similar situation as you but moved from Utah. He is our local go to STR investor/investor focused agent! I'm sure he can share some great advice with you.

@Danilo Perea, reach out to @Malgorzata Sadowska. She is local and knows investments well. I've worked with her quite a few times together already. 

Offering DSCR, home equity line of credits, while holding title in an LLC. Not a home equity loan or cash out refinance. Up to 3million. Low DSCR ratios allowed! No prepayment penalties! First lien position only.

@Noah Francis are you currently under contract or in the discovery phase still? What are the numbers looking like? 

Hey @Chris Noles, reach out to @Josh Green. He is our local expert and has a true pulse on our current market. He’s probably the most active investor and investor focused agent here on the forums to be honest with you. I’ve worked with him on a ton of deals and can definitely vouch for him. 

@Koushik Saha, as long as you lived in your previous house for 12 months, or so, then there's no reason why you cannot turn the property into an investment. Really though, you don't have to say much, if any, if you did, and all you need to do is change your insurance to a landlord policy.