All Forum Posts by: Carlos Rovira

@Ryan Planchon I always prefer HELOCs because they are more flexible. You have the option to keep debt service low by paying interest only if you need it. A cash out refi will be amortized and lock you in to paying P&I.

@Guy Idan welcome to Miami! Happy to connect!

@Rafael Castellanos despite your house being zoned for SFH, it is not illegal to turn your garage into a master suite with a bathroom and "wet bar" that happens to have a refrigerator and a "side entrance." I would talk to an architect and/or GC to get their opinion. Regardless I'd do it correctly and with permits in case you ever want to sell the place. Most lenders won't loan money on properties with illegal additions.

@Bryan Rodriguez it is a tough market. What kind CoC returns are you seeing below 8%? I would say 6-8% is actually pretty decent in this market depending on the location.

@Abdullah Rubiyath good morning Abdullah, happy to help any way that I can. Miami is a tough market but there are deals to be had if you position yourself to find them and execute quickly. Feel free to DM me to discuss further. Thank you!

@Matheus Silveira happy to help in any way that I can. Welcome to BP!

@Tyler Zimero Welcome to BP! As a new agent, you’d probably be better off at a larger brokerage. The commission splits aren’t as favorable, but they offer a multitude of training courses and other resources that will help you launch your career. I run a small brokerage and can’t really offer as many perks so my commissions splits are more favorable to my agents. I do have a good friend that owns a Keller Williams franchise down here and would be happy to introduce you when you are ready. Good luck!

@Jason Brown I have a couple local banks that I work with that have been pretty good. DM me and I’ll share contact info.

@Fradel Barber whenever you purchase a property, the taxes inevitably adjust according to the price you paid. I usually use the following formula (sale price * 0.8 * 0.02). That is 2% of 80% of the sale price. If this is your primary, you should ensure you apply for the homestead exemption which should limit yearly increases after the initial increase from year 1.

@Bert Knot Hi Bert, welcome back to the states! Happy to connect.