All Forum Posts by: Vinicius Cadengue

Hey BiggerPockets community,I'm Vinicius, a new real estate investor in Miami looking to connect with other cash buyers interested in off-market deals across Florida.
Drop a comment or message me directly to discuss opportunities and ideas. I would be happy to connect, hear from experience and possibly do business together. 

Looking forward to connecting with you!

Vinicius. 

Hello BiggerPockets Community,

I trust this message finds you well.
As I take the exciting leap into my first real estate investment, I am navigating the intricacies of options of funding.

1. What financing strategies have you found most effective for initial real estate ventures?
2. Are there specific lenders or financial institutions that you recommend for beginners?
3. How do you balance leveraging debt with minimizing risk, especially in the current market conditions?
4. What key factors should I consider when evaluating financing options for a investment property?
5. Any pitfalls or challenges you faced in securing funding for your first deal that you wish you had known beforehand?
   What creative funding strategies have you successfully used for your initial investment deals?
   Are there any lesser-known financing options or resources that you recommend exploring?
   How do you approach partnerships or joint ventures as a means of securing funds for real estate projects?
   Any advice on navigating potential challenges or risks associated with alternative funding methods?

I appreciate any wisdom you can share, whether in the comments or through private messages. Your experiences will undoubtedly contribute to a more informed and successful start to my real estate journey.

Thank you for your time and consideration.

Best regards,
Vinicius.

Hello BiggerPockets Community,

I trust this message finds you well.

As I take the exciting leap into my first real estate investment, I am navigating the intricacies of securing funding.

1. What financing strategies have you found most effective for initial real estate ventures?
2. Are there specific lenders or financial institutions that you recommend for beginners?
3. How do you balance leveraging debt with minimizing risk, especially in the current market conditions?
4. What key factors should I consider when evaluating financing options for a investment property?
5. Any pitfalls or challenges you faced in securing funding for your first deal that you wish you had known beforehand?

I appreciate any wisdom you can share, whether in the comments or through private messages. Your experiences will undoubtedly contribute to a more informed and successful start to my real estate journey.

Thank you for your time and consideration.

Best regards,
Vinicius.

Quote from @Jayson Cain:

Hi @Vinicius Cadengue,

I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis. Now, I have a portfolio of Short Term Rentals and Long Term Rentals. I've started looking at Columbus because my business partners have found success doing Mid Term Rentals there and the returns are solid.

I've also helped other investors with their DSCR loans and flip projects in Columbus. Happy to share my experiences and chat with you more if you're interested.

Your out-of-state journey in Indianapolis sounds impressive. I'm definitely curious about your experiences with Mid Term Rentals in Columbus. I'd love to hear more about your successes and insights—chatting further sounds great!

Quote from @Min Zhang:

There are plenty of options for multifamily properties here in Ohio. If you're new to being a landlord, I suggest starting with a turnkey cash flow rental. It's a simple way to get a sense of what it's like to manage a property without the added stress of rehab projects. I myself began investing in a small multifamily property in Columbus, Ohio two years ago. The cost of entry is low, but the potential cash flow is high. Columbus is currently the only market in Ohio that has experienced rapid growth in both jobs and population. If you're interested, I can provide you with a list of contacts in Ohio who can help you build your team and find a reliable property manager. Let me know how I can help!

Thanks for the advice! Starting with a turnkey cash flow rental in Ohio market sounds like a smart move. I appreciate the offer for contacts—I'll definitely reach out for help building my team. Your insights are valuable—thanks again for the support! Let's keep connected.

Quote from @Evan Hopple:

@Vinicius Cadengue 

I invest in Columbus RE! The numbers still make sense, even with huge new additions to the tech sector (google, intel, amazon, honda, and many start ups). Plans to were announced last year to invest $2B into the cities airport in anticipation of the population/business travel growth. 

Sending you PM with my go to Ohio lenders (conventional, dscr, hard money)

Great to hear that Columbus RE is holding strong despite the tech sector expansions! Thanks a lot for sharing those lender contacts—I'll keep an eye out for your PM. Appreciate it! Happy to connect.

Quote from @Branden Rivero:

Quote from @Vinicius Cadengue:

Quote from @Devin Peterson:

Quote from @Vinicius Cadengue:

Hey Bigger Pockets members,

My name is Vinicius; I am looking into purchasing my first investment property. I work/live in Miami area and the market here looks very hard right now. I have been looking into the Miami market and Ohio market, where the numbers looks like make more sense as right now. I would like to invest in a SMF (2-4 unit) property.

I would like to hear some ideas on how to get that started, types of loan/lenders/hard money, people to connect and help me get that started, specially if been out of state.

Please get in touch with me.

I look forward to hearing/working with you!

Thank you!

Vinicius.

Forgive me, if I'm getting confused, but are you saying Miami, Florida or Miami of Ohio because generally speaking, every major city in Ohio is nowhere near as saturated as Miami Florida. It is two different markets prices will be different, insurance will be different and definitely taxes will be different. What's your main goal? Are you seeking to be a long-term buying hold investor, short term rental? Just trying to get a clear picture of your strategy. All in all you will be seeking a DSCR loan most likely, and that what city or location you're talking about if you were looking for a turnkey property. 20-25% down, DSCR 1.00+, and 2-3 months reserves most likely is the average requirement. Have you been pre-approved yet?

Certainly, I am referring to Miami, Florida. My primary objective is to secure a property for long-term investment, specifically in a small multi-family (2-4 unit) setup. Acknowledging the market differences between Miami, Florida, and Ohio—such as variations in prices, insurance, and taxes—is crucial for informed decision-making. Your insights are invaluable, and I'm seeking a strategy that aligns with a long-term hold. While I haven't been pre-approved yet, I'm actively exploring different loan options and aiming for a DSCR loan with 20-25% down and sufficient reserves, as you mentioned. I'm open and eager to hear about other strategies and plans that might better suit my investment goals. Your expertise and advice are greatly appreciated, please let me know if we could get into a call at any point.

 have you considered sw florida or the space coast? 

 Would be happy to chat about that.

Quote from @Devin Peterson:

Quote from @Vinicius Cadengue:

Hey Bigger Pockets members,

My name is Vinicius; I am looking into purchasing my first investment property. I work/live in Miami area and the market here looks very hard right now. I have been looking into the Miami market and Ohio market, where the numbers looks like make more sense as right now. I would like to invest in a SMF (2-4 unit) property.

I would like to hear some ideas on how to get that started, types of loan/lenders/hard money, people to connect and help me get that started, specially if been out of state.

Please get in touch with me.

I look forward to hearing/working with you!

Thank you!

Vinicius.

Forgive me, if I'm getting confused, but are you saying Miami, Florida or Miami of Ohio because generally speaking, every major city in Ohio is nowhere near as saturated as Miami Florida. It is two different markets prices will be different, insurance will be different and definitely taxes will be different. What's your main goal? Are you seeking to be a long-term buying hold investor, short term rental? Just trying to get a clear picture of your strategy. All in all you will be seeking a DSCR loan most likely, and that what city or location you're talking about if you were looking for a turnkey property. 20-25% down, DSCR 1.00+, and 2-3 months reserves most likely is the average requirement. Have you been pre-approved yet?

Certainly, I am referring to Miami, Florida. My primary objective is to secure a property for long-term investment, specifically in a small multi-family (2-4 unit) setup. Acknowledging the market differences between Miami, Florida, and Ohio—such as variations in prices, insurance, and taxes—is crucial for informed decision-making. Your insights are invaluable, and I'm seeking a strategy that aligns with a long-term hold. While I haven't been pre-approved yet, I'm actively exploring different loan options and aiming for a DSCR loan with 20-25% down and sufficient reserves, as you mentioned. I'm open and eager to hear about other strategies and plans that might better suit my investment goals. Your expertise and advice are greatly appreciated, please let me know if we could get into a call at any point.

Quote from @Michael Thach:

There is a new fannie mae programm where you can put 5% down if you " plan " to use 1 of the units as primary resident. Many lenders did add this product into their offers. You can ask any lenders. This would be the lowest cash amount to get into SMF.

Otherwise you need to get into it in a conventional way with 20% and a strong 2 years tax-return. This might work when your income is 3-4x the mortgage payment. 

If you you don't qualify on income based then you need to do a DSCR program. The lender will check if the property rental income are enough to cover the mortgage payment, tax, HOA and insurance. They will usually only count 75-80% of the rent income because of potential vacancy. Usually program like this starts with 25% down and if the rental income is not enough you can stock it up until it does. So oftentimes it means 30-35% down.

Appreciate the insight into financing options for a multi-unit property! Exploring the Fannie Mae program with 5% down for primary residence use is intriguing, and I'll check with lenders about its feasibility. Understanding the conventional 20% down requirement based on income helps clarify my eligibility, and I'll assess this against my financial standing. The DSCR program's approach leveraging rental income for qualification provides an alternative worth considering, especially with its higher potential down payment. Your breakdown guides my discussions with lenders—thank you for the comprehensive overview of these financing avenues!

Hey Bigger Pockets members,

My name is Vinicius; I am looking into purchasing my first investment property. I work/live in Miami area and the market here looks very hard right now. I have been looking into the Miami market and Ohio market, where the numbers looks like make more sense as right now. I would like to invest in a SMF (2-4 unit) property.

I would like to hear some ideas on how to get that started, types of loan/lenders/hard money, people to connect and help me get that started, specially if been out of state.

Please get in touch with me.

I look forward to hearing/working with you!

Thank you!

Vinicius.