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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)

Elvis VasquezPosted
  • 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)

Elvis VasquezPosted
  • 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?

Transfer ownership of a scooter to a LLC?
What are your state insurance requirements? 

Post: Buying with Cash Avoids Owner Occupy Only Requirement?

Elvis VasquezPosted
  • Accountant
  • Miami, FL
  • Posts 144
  • Votes 54

Does this place have an HOA?

Originally posted by @Nattapon Permchom:
Looking to buy an investment property in South Carolina, score is between 600-620. need help located a broker that can help with situation. I have w-2, down payment, just lack the score to quality regular loan.

 
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!

Elvis VasquezPosted
  • Accountant
  • Miami, FL
  • Posts 144
  • Votes 54
Originally posted by @Brie Schmidt:
Originally posted by @Victor So:
Hello BP!

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)

Elvis VasquezPosted
  • 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)

Elvis VasquezPosted
  • 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)

Elvis VasquezPosted
  • 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

Elvis VasquezPosted
  • 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.