All Forum Posts by: Rosy Baeza

Thanks @Michael Baum. They’re allowed in the area I’m focused on. What I’m wondering is—even though they’re allowed in unincorporated miami dade county—if folks who have applied for licenses in this county are getting obstacles thrown at them preventing them from getting licenses. In other words, while it’s permissible, if inspectors are giving a hard time for the sake of not granting licenses. 

Has anyone experienced pushbacks on short term rental licenses in unincorporated Miami Dade County? I recently heard David Greene’s horror story about a short term rental license going bad in the north Miami Beach area (inspector looking for issues to pick at with the property and tagging the property for issues to avoid granting a rental license), and I was curious about people’s experiences in unincorporated Miami Dade. 

Thanks Jay. I'm trying to understand how to structure the deal using OPM in a way that's permissible with hard money lenders. I'm not concerned about the separate issue of rehab costs. Just trying to understand how to structure the funding of the deal itself. By partnering, do you mean forming an LLC with my friend, so that the money he brings in is adequate "skin in the game"? Or having two different LLCs JV (one LLC being mine and another being my friend's)? I haven't done this before so welcome any insight.

Hi everyone!
Do hard money lenders care where your down payment comes from? I’m trying to figure out how to structure a deal without putting any of my money into the deal. This is for a fix and flip. I found a hard money lender who is willing to lend 80%, and I have a friend who is willing to put in the missing 20% (as a private money loan in second position). Has anyone ever done this? Any guidance is appreciated!

thank you!