Can you qualify them for a loan?

If a client came to you with 5 RE properties with no mortgages, totaling close to $2M in value. 4 of these 5 properties are income generating about $8,000 per month. The 5th one is their primary residence.
They have close to $1M cash in the bank and their 2019 tax return shows a combined overall gross income of over $170,000.
They are self employed and live off of their investments in Real Estate and the financial markets. In 2020 they have not received income other than the rental income from their 4 properties and some dividends from the markets.
Would you be able to qualify them for a $120,000 loan to buy another investment property?

Invest in Miami. There are many great opportunities.

  • 6890 N Kendall Dr #B402
  • $199,000
  • Pinecrest, FL 33156 / Dadeland Grove
  • 1 Beds, 1 Baths, 1 Half Baths 960 Sq.Ft.
Price Change History: -6.13% ($13,000) 2 Price Changes : Last Change 28 Days Ago
Or Call 2125188829

6890 N Kendall Dr #B402, Pinecrest, FL 33156

1 Beds, 1 Baths, 1 (Half Baths), Condominium, 960 Sq.Ft.

Nice and bright large 1 bedroom loft. Updated kitchen and bathroom. Dont miss this opportunity in sought after Dadeland Grove in Pinecrest neighborhood. Great investor opportunity, close to UM and great for those interested in Pinecrest school district. Steps from Dadeland Mall and lots of restaurants. Easy access to metro. Building recently updated... All special assessments paid off.
Listing Summary
  • City: Pinecrest
  • Zip: 33156
  • Price: $199,000
  • County: Miami-Dade County
  • Subdivision: Dadeland Grove
  • Complex: Dadeland Grove
  • Development: Dadeland Grove
  • Virtual Tour: View Virtual Tour
  • Property Type: Condominium
  • Status: Active
  • Square Feet: 960
  • Year Built: 1970
  • HOA Fees: $475 Monthly
  • Taxes: $2,751
  • Short Sale:
  • MLS® #: A10822662
School Information
Elementary School Middle School High School
Pinecrest Palmetto Miami Palmetto
Additional Features
  • Waterfront: No
  • Waterfront Description:
  • View: Garden, Pool
  • Style: Garden Home
  • Pets Allowed?: yes
  • Pet Restrictions: yes
  • Flooring: Ceramic Tile, Other
  • Furnished:
  • Construction: Block
  • Parking: One Space
  • Interior Features: 0
  • Amenities:
Request Additional Information

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The data relating to real estate for sale on this web site comes in part from the participating Associations of the Miami Multiple Listing Service. The MLS data provided for the property above (A10822662) is provided courtesy of (Douglas Elliman). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Data last updated on 07-03-2020. IDX powered by Realty Net Media



Contact


  • Fabrizio Cacciatore
    Luxury Sales Executive
  • Gary Hennes Realtors
  • 1335 Lincoln rd.
    Miami Beach, FL 33139
  • 2125188829

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Real Estate For Sale

2280 Tequesta Ln $1,575,000 Coconut Grove

Real Estate For Sale

3 Beds, 4 Baths, Single Family Residence, 3,080 Sq.Ft.

Form follows function in this striking Bauhaus inspired modern home. Creative use of space and angles set this home apart from the rest. Oversized entertaining areas, an incredible abundance of natural light, high ceilings and a simply stunning pool and greenspace complete with outdoor shower. Master suite has a wrap around private terrace with tree-top views. Fenced all around and enclosed with an automatic gated entry leading to the 2 car garage. Very tranquil one way street with friendly neighbors. Walk or ride your bike to the Bay, Fresh Market, marinas and Village Center. Minutes to Brickell, Key Biscayne, 7 miles to MIA, two miles to I95. You will love this peaceful, unique sanctuary in highly sought after North​​‌​​​​‌​​‌‌​‌‌‌​‌​​​‌​‌​‌​​​‌​​ Grove!
Real Estate For SaleReal Estate For SaleReal Estate For SaleReal Estate For Sale
Listing Summary
  • City:Coconut Grove
  • Zip:33133
  • Price:$1,575,000
  • County:Miami-Dade County
  • Subdivision:SILVER BLUFF EST SEC C
  • Complex:SILVER BLUFF EST SEC C
  • Development:SILVER BLUFF EST SEC C
  • Virtual Tour:View Virtual Tour

  • A10854120

    • Property Type:Single Family Residence
    • Status:Active
    • Square Feet:3,080
    • Year Built:2007
    • Taxes:$13,310
    • Short Sale:
    • MLS® #:

    Miami condo sales volume in free fall last week of May

    Miami condo sales volume in free fall last week of May

    Top 10 sales ranged from $425K to $1.4M
    TRD MIAMI /
    June 02, 2020 12:30 PM

    Condos are trading for much lower prices in Miami-Dade County, as weekly sales volume continues to plummet due to the pandemic.
    A total of 56 condos sold for $16.6 million last week. That’s compared to 51 units that sold for $18 million the previous week. Condos last week sold for an average price of about $296,000 or $250 per square foot.
    The top sale was at Ocean One in Sunny Isles Beach. Unit 2905, a three-bedroom, 2,085-square-foot condo, sold for $1.4 million, or $671 per square foot. Linda Levy represented the buyer and seller. It was listed for 136 days.
    The second most expensive sale of the week was on Belle Isle in the Venetian Islands. Nine Island Avenue unit 1507 sold for $1.35 million, or $759 per square foot. It was on the market for 26 days. Frank Cavallino represented the seller, and the buyer’s agent was Rey Figueroa.
    Here’s a breakdown of the top 10 sales from May 24 to May 30. Click on the map for more information:
    Most expensive
    Ocean One Condo #2905 | 136 days on market | $1.4M | $671 psf | Listing agent: Linda Levy | Buyer’s agent: Linda Levy
    Least expensive
    Latitude on the River #801 | 235 days on market | $425K | $315 psf | Listing agent: Valka Rodriguez | Buyer’s agent: Valka Rodriguez
    Most days on market
    The Point #3202 | 408 days on market | $534K | $286 psf | Listing agent: Cristina Giral | Buyer’s agent: Sabina Potack
    Fewest days on market
    Nine Island Avenue #1507 | 26 days on market | $1.35M | $759 psf | Listing agent: Frank Cavallino | Buyer’s agent: Rey Figueroa


    Disappearance of the first SARS virus

    Disappearance of the first SARS virus: Why do we need a vaccine for COVID-19 but didn't for the other?

    Hotels update in Miami Beach

    Dear owners, partners and friends of our Hotel.
    As you can imagine, we are very aware of all the news from the City of Miami Beach and the Government of Florida in reference to the reopening of all hotels in this phase of COVID-19, as well as the basic lines to follow regarding the protection and safety of clients and workers.
    We are studying in detail all the requirements, at the same time that we follow daily the potential movements of the reserves for the coming months, as well as the official reaction of the governments of Europe and the main countries of South America regarding the future movement of potential tourists outside its borders.
    The most important points regarding this could be summarized as:
    •             Europe will not facilitate the departure of aircrafts until July 1, 2020, offering a maximum occupancy of around 35% of the aircraft's capacity.
    •             USA will not allow until further notice passengers from Brazil, where the COVID 19 crisis is at its peak.
    •             Other countries (like Argentina) do not allow flights until September 2020…
    •             You know very well that for tourists from the USA, summer in Miami Beach is the low season, being precisely in the hands of tourism from Europe and South America.
    For all these reasons, it is our intention to closely monitor the fluctuation of reserves and based on this we will make the final decision.
    Anyway, I can tell you that it will not open until at least July 1, 2020, although it will probably not be until August 1 when we be ready to reopen.
    Regarding the particular use of the rooms by you, only and as long as you as owners (neither family nor friends will be allowed), we will be happy to assist you during the months of June and July 2020, although you must comply with some basic security requirements and schedules of which we will inform promptly.
    If you intend to use any of your own rooms, please let me know as far in advance as possible.
    As always, any kind of slightest news regarding this topic we will notify you promptly.
    Thank you for your safe attention, support and understanding of the measures we are taking on behalf of each and every one of you.
    Kind regards and continue keeping safe.

    Yours,


        General Manager