All Forum Posts by: John Kihm

Hello local Miami investors! Looking for any recommendations for local architect where a 4-6 unit multifamily is within their wheelhouse. 

Also looking for a GC for same type of new construction. The network section in this website doesn't really provide what I'm looking for.

Thank you for any recommendations!

I too would be interest!

Newbie investor here...….I know the BRRRR process is typically great for multi-families, but wanted to reach out and get thoughts on using it for a SFH rentals. Any insight and opinions are greatly appreciated!!

Looking at a BRRRR deal but wondering if I am able to secure a conventional bank loan for the initial purchase (in lieu of hard or private money) and pay for the rehab myself, is there a longer waiting period to refinance with a bank other than the normal seasoning period? Any feedback is greatly appreciated.

….or opinions on LVT vs engineered wood floor. I appreciate the help!

Looking for opinions on LVT flooring (especially in South Florida) for single family homes. Gaining popularity and worth it....or cheap an untasteful?

Hello fellow BPer's! I'm in search of my first deal and came across a property that is currently listed as a single family home on my local property appraiser, however appears that the home was illegally converted to a duplex at some time (which is very common here in Miami). The funny thing is that it's in a area that is actually zoned for duplexes. The asking price looks good although I could use the "illegal conversion" as negotiation to get the price down ever more. Property appears to being cash flowing nicely although I'm still punching the numbers.

My question is to anyone who has gone thru the process of reclassifying their property from single family to a duplex (especially in South Florida). Not sure what to expect for timeline and cost. Seems like I would be able to do so as long as the units have been properly modified per local building codes.

Any feedback is greatly appreciated!! 

@Greg H.

Understood and thanks for the reply. So I guess the “flipping houses with $0 money down” is a little far fetched.

Hello -

I’m looking to flip my first project which is in the Miami FL area.

I want to obtain funding for the purchase and use my own cash for the rehab, holding, and closing costs, etc.

The problem I have found with hard money lenders is that they will provide somewhere around 70% of the purchase value. I understand that they want the buyer to put some equity into the purchaseso they are “on the hook” as well. Which is understandable.

Question - if I’m wanting to hold on to my cash for the rehab and other holding costs, what’s the best way to make up that 30% to initially purchase the home?

Is it as simple as going to another hard money lender to obtain the remaining 30%? Is that even allowed and/or ethical?

Asking for a friend....;-)

I'm a newbie and looking for recommendations on getting short term property insurance on a flip. The idea is get the thing reno'd and flipped and a couple months. Florida is a tough place to get home owner insurance though. I think a lot of the other flippers in the Miami area do it without insurance.

Thoughts?