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All Forum Posts by: Dario Furman

Dario Furman has started 16 posts and replied 37 times.

Post: Analysis of home in miami

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

i bought the home for 384 in 2015 and put 60k down payment. over the years i spent about 50k in rehab. 

not sure where else to invest. listening to biggerpockets episode # 853 got me thinking about looking at ROE not cash flow as much. so i was just curious what more advanced investors thought about my situation. 

Post: Analysis of home in miami

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

In 2014, I bought a single-family home in Miami with an ADU. We moved out in 2022 and are renting the home on a long-term lease and renting the ADU on short and midterm the Home currently cash flows net of all expenses around $8000 a year and the home currently has around $400,000 in equity. The house has a loan at 3.25 fixed 30 year loan.

Am I better off selling it and buying something else. Do I still get tax savings since I lived in it from 2014-2021? 

Post: Real Estate Investing Meetups in Miami, FL

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

How do I find out about any Real Estate investing group meetups in my area. I live in Palmetto Bay in Mia i Florida. 

Post: [Calc Review] Help me analyze this BRRRR deal

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Thank you all in advance. I hope you guys can help me with analyzing this BRRRR deal i am looking at in Detroit. this will be my 3rd brrrr, but the interest rates on the other 2 were much lower so i want to make sure my strategy still works. i dont need the cash flow as much as i want to build generational wealth through amassing equity and properties by increasing my velocity of money through the BRRRR method. 

Post: DSCR lender recommendations

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

Hey all,

I have 2 Single family homes in Detroit which I BRR and now need to refinance to repeat. Having a hard time finding a lender which can refinance the homes individually since they each would be $80K (70%-75% LTV) or that can cross collateralize both into one loan of $160K with a 6 month (from date of purchase) seasoning period.

The DSCR for both is very strong, they are between 1.6-1.8 each based on an 8% 30 year mortgage rate.


What I am finding is:

1. A lender who can do 75% LTV with 6 month (from date of purchase) seasoning period but need 3 properties to qualify not 2.

2. A lender who can do %70% LTV with 6 month of rental history (NOT 6 months from purchase date)

Can anyone recommend a lender they have used in the past that has helped them finance properties which have ARV's of less than 130K which will result in loans less than 100K each?



Post: Any recommendations on an Insurance Broker/company (Detroit)

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

i found out it was for a vacant rehab rather than landlord. 

i will get it requoted for landlord only to get a more accurate rate.

thank you! 

Post: Any recommendations on an Insurance Broker/company (Detroit)

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

I own a couple SFR's i am BRRR in Detroit (zip codes 48223 & 48219) and once I have completed the rehab I will rent them and will then refinance. Prior to refinancing I will need to insure the property and I am having a little trouble finding a broker that has experience insuring investor (section 8 tenants) SFR's in Detroit.

I did get a quote from National Real Estate Insurance Group for $2,091.96 a year (per property) for $101,000 dwelling costs , but that seems outrageously expensive.

anyone have any recommendations of who I can call and what i should expect to pay per home? 

Post: Vice President, Investments – Commercial Real Estate

Dario Furman
Pro Member
Posted
  • Miami, FL
  • Posts 41
  • Votes 10

My name is Dario and I'm a Director of Finance & Accounting Search at StevenDouglas, a 37 year old boutique search firm based out of South Florida.

Our firm was retained by a Commercial Real Estate Private Equity firm based out of Palm Beach County. Our client is looking to hire a Vice President of Investments to join their firm. 

The role will be based out of their offices in Palm Beach County. They will provide relocation assistance.

Requirements:

* Our client is requiring 7-12 years of commercial real estate acquisitions experience. Retail is a huge plus.

* High level of proficiency with Microsoft Excel and Argus DCF/Enterprise

    Job Details:

    * The Vice President, Investments will be a key contributor to all of the firms acquisition and disposition objectives and will serve as a leader, teacher and coach for the Investments team.

    * Work in conjunction with the regional acquisition team to assist in the evaluation of new investments and the transaction management team in executing the acquisition and disposition of investments

    * Owner of investment pipeline including prioritization of underwriting efforts, tracking of bid deadlines, creation and submittal of Letters of Intent

    *Conduct monthly Investment Committee meetings

    Dario Furman, CIR
    Director – Finance & Accounting Search

    Office 954.385.8595 | Direct 954.475.6619 | Cell 305.764.0975

    E-mail [email protected]

        Post: Recruiting for a VP, Asset Manager (Multifamily)

        Dario Furman
        Pro Member
        Posted
        • Miami, FL
        • Posts 41
        • Votes 10

        I am a Director of Finance & Accounting Search with StevenDouglas, a 36 year old boutique search firm based out of South Florida and I am working on a retained search for a sponsor-side multifamily real estate investment firm headquartered here in South Florida.

        Our client has retained us to conduct a national search for a VP, Asset Manager for their firm. They will pay for relocation costs and will need the person to work and reside here in South Florida (Palm Beach County).

        Our client has thousands of doors and looking to continue to grow through strategic acquisitions. 

        Please contact me directly if you may know of someone that qualifies for this role. 

        Required: 5+ Years of Real Estate (Multifamily) Asset Management Experience for a firm (with a minimum of 700 doors) such as: dealing with the property managers, reviewing financials, budgets, insurance claims, capx oversight…true nuts and bolts. In addition the participation with new site selection, refinance, working with external partners, etc…

        Dario Furman, CIR
        Director – Finance & Accounting Search

        Post: Wholesale Motivated Seller Leads

        Dario Furman
        Pro Member
        Posted
        • Miami, FL
        • Posts 41
        • Votes 10

        i live and invest in miami. contact me once you have properties. i look only at 100k below to complete BRRRR