All Forum Posts by: Evelio Martinez

Thanks to everyone who responded to this post. Sry took a few days to respond back, been busy days at regular 9-5 grind.

@Kevin Kohler was looking mainly for typical residential HeLoC access with the property securing it.

@Ken Naim thats good to hear you were able to get one during the pandemic. I'm hoping as economy starts to reopen I can gain more of a 75-85% LTV access. Will look into Hanscom CU as you mentioned.

@Raymond J. Rodrigues can you please be a bit more specific on the name of that bank/lender? 

In all seriousness, how has anyone's experience been with this product and the banks/lenders as of lately?

Has anything changed compared to pre-pandemic?

Also, who's offering, who isn't? Specifically in the South Fl area?

Kind, non-condescending responses are much appreciated.

@Carl Fischer Thank you for taking the time to read my post and referring someone

@Lance Lvovsky I will be in the Miami area right before the holidays.... my partner and I would really like to receive some solid advice on how to handle forming our business from this point on.... I will touch base with you a couple of days before I arrive to see if we can schedule a meet-up. Thank you for responding as well to this post.

Hello BPers, I am currently a SFR investor in the Miami-Dade area with 1 rental property currently under my portfolio, looking to expand by purchasing a possible second SFR (duplex, In-Law Quarters, Efficiencies) within the next couple months, into the new year. Before I continue expanding, I'd like to find a really good CPA with extensive RE accounting knowledge and experience. I plan on forming an LLC eventually as I navigate through the different investing strategies I would like to venture in (whether buy & holds, MultiFams, Flipping, etc), but I am taking all the necessary steps now in order to be able to continue conducting business in the future and not have to worry about Uncle Sam wanting any MORE of his "silent partner" cut than what he gets. Tax Strategy is my No. 1 priority before I begin to purchase any future properties. Any referrals/feedback of any professionals with proven results conducting business in the Miami-Dade/Broward county would be much appreciated.

All really depends what kind of property you find ultimately. I have my first and only (for the moment) rental property right in the smack middle of Miami-Dade county and was able to acquire a great cash flow duplex. My advice is... always do a deal analysis; purchase comps + rental market comps. This will give you an idea of what your cap rate should be. PS: Anyone that passes by this post, I am currently seeking multi family/distressed SFH props in the Miami-Dade/Broward County area. Much appreciated.