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All Forum Posts by: John Martin

John Martin has started 18 posts and replied 20 times.

Post: Miami: Title Company or Attorney to close transaction?

John MartinPosted
  • Santa Barbara, CA
  • Posts 24
  • Votes 11

I am about to submit an offer in the Miami area and the template show the name of a lawyer instead of a title company for escrow. Is it ok? 

Also, in the offer contract, I don't see anything about who pays for transfer taxes, city taxes, etc. (if any). Is it normal?

Post: Looking for real estate expert in Miami Brickell Area

John MartinPosted
  • Santa Barbara, CA
  • Posts 24
  • Votes 11

I am looking for an expert in the Miami Brickell area to connect with. I am about to place a offer in a condo there and would highly appreciate a local's opinion. Thank you!

Post: Rental Income not included = high DTI

John MartinPosted
  • Santa Barbara, CA
  • Posts 24
  • Votes 11

I am trying to apply for new loans but several lenders came back and said my DTI is >50%. However, they don't include any of the rental income of my investment properties because it is <2 years on the market and I rent them using short-term rentals. Any suggestion on how I could find the right lender in my situation?

I am selling my house. I have a buyer interested and we are negotiating. I sent a counter offer asking for $5K more on the list price. I received a counter offer from the buyer who ask me to reduce the selling price and have the agent reduce his commission. The amount I would receive is actually the same than keep the same commission and increasing the price by $5K. However, I am suspicious. Why would they do that instead of just accepting the counter with the $5K more on the list?

Post: Cond-hotel financing: recommendations?

John MartinPosted
  • Santa Barbara, CA
  • Posts 24
  • Votes 11

I am looking for lenders that do condo-hotels. Do you have recommendations?

Post: Creative ways to sell my home?

John MartinPosted
  • Santa Barbara, CA
  • Posts 24
  • Votes 11

I have an agent to sell my home and it is listed on MLS/main sites like Zillow, etc. However, I would like to do more as the seller to really promote it. Any other suggestions to sell it? Thank you!

@J. Martin 

The CC&R change is the biggest risk I think. For the Four Seasons, I heard they reserve few floor only for short-term rentals, and stil few people do Airbnb on those floors. It is then very contained. I am wondering if they also have different HOA (different CCR pressure) in these floors.

Post: Brickell Miami: good investment?

John MartinPosted
  • Santa Barbara, CA
  • Posts 24
  • Votes 11

Is Brickell Miami a good investment area for short-term rentals? Why/why not? Thank you.

Does anybody have any experience on buying a condo within a hotel like the Ritz or the Four Seasons and then rented it successfully on Airbnb?  Any advice? Any pitfall?

I am looking at market where to invest in an airbnb property, but where there is no occupancy/transient taxes. I am OK if the zoning laws are against airbnb as I would then target condo-hotels. Thank you.