All Forum Posts by: Miguel Planas

Totally agree with Stephen Keighery and remember CASH IS KING... Look for the right properties... Being a commercial broker in Florida I know this is an investor market place so be conservative here. Use the least cash possible on your purchases and analyze cash flow returns and I would invest in commercial rentals not SFR unless Fix and Flips. Happy Property Hunting.

Just keep in mind that the Lender want to be in 1st Position. You can always have a 2nd (Lender in Place) if there is enough equity to lower your down payment. If the hotel is doing great financially (Repayment Ability) there is even No Financials from the buyer except proof of funds for down payment and acceptable credit. In your scenario already have experience so that is covered. Sounds like a great opportunity

Definitely a great Flip&Fix Deal 

There are many options to buy.  I call this one a refi-purchase with partnert buy out. One would be to register as a partner with the owner(s) if it is a corporation.  You then refinance as a partner buy out.  Owners must agree to this scenario, the actual mortgage for $150,000 will be paid off and you will assume the mortgage being refinance. No need for owner finance.