Requisites for income property loans are unlike traditional mortgages, because the capital loaned is typically in a higher threshold. To determine if you qualify for an income property loan, consider some of these factors weighed by lenders:

The Loan to Value Ratio – or LTV, is calculated by dividing the mortgage amount by the appraised property value. The lender will observe if this ratio presents a risk, and if so, mortgage insurance will be required.

Credit Score – as with most lending institutions, the borrowers’ credit score is weighed to determine if he or she has a solid history when repaying loans. The better the credit score, the better the chances are for approval. In addition, loan interest rates will tend to be much higher the lower the score.

Income Requisites – the borrower will need to prove that there’s sufficient cash flow from business or employment to repay the loan. In addition, the lender may ask the applicant to submit proof of assets in the event they’re unable to pay. This is otherwise known as collateral.

Some of the tips given for getting an approval on loans for income properties include securing a good down payment. The protocol for most income properties is 20%. There are many avenues for financing, including through traditional banks, owner financing, or even from your own resources, such as equity. Savvy Miami investors will research the best methods that pose the least amount of risks.

Contact Miami Realtor Sydney Server for more information.

Sources: Investopedia
Photo Credit: Yes Rentals Miami
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

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South Florida has over 150 new planned residential towers. Here’s a list of some of the top Miami development names.

Brickell

• The Bond
• Le Parc
• SLS Residences
• Brickell
• Echo Brickell
• Panorama Brickell
• Brickell CitiCentre
• Millecento
• Nordica
• Nine at Mary Brickell Village
• MyBrickell
• BrickellHouse

READ MORE for other district developments.

More Resources: CV Realty, Sydney Server Real Estate Preconstruction List.

Now taking reservations starting at 10% down.

Contact Miami Realtor Sydney Server for more information.

Sources: CV Realty, Sydney Server Real Estate Preconstruction List
Photo Credit: Constec Realty
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

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Greater Miami’s real estate boom includes a few mega-developments:

Resorts World Miami – will span 13.9 acres in Downtown Miami, and will be developed by Genting Group. The mega development will feature entertainment, shopping, two planned residential towers, one of the world’s largest swimming pools and more. The project’s economic impact includes the creation of thousands of jobs and millions in revenue within the state of Florida.

Estimated Groundbreaking Date: Fall 2013

Estimated Completion Date: Fall 2014

Brickell CityCentre – headed by Swire Properties, Brickell CitiCentre is another major development. The project’s economic impact includes the creation of 1,700 jobs. The center will feature 5.4M S.F. of entertainment, office, parking, hotel, and residences. As the name suggests, it will be located in the heart of Brickell Miami between 8^th St and 6^th St.

Estimated Groundbreaking Date: June 2012

Estimated Completion Date: 2015

Faena Arts District – will be located in Miami Beach and will feature an arts center, a luxury hotel, residences, retail as well as parking. $100M was recently spent on the Versailles Hotel as part of the real estate needed to create this all-inclusive district. Alan Faena is the revered developer behind this project. He’s had phenomenal success with similar projects in his native Buenos Aires, Argentina, where he built a planned luxury district that now claims some of the highest-priced real estate in the country.

Estimated Groundbreaking Date: January 2013

Estimated Completion Date: Fall 2014

These developments reinforce Miami’s world-class appeal, the DDA’s plan to make Miami “The Epicenter of the Americas” and a booming real estate market for savvy investors. For investment opportunities, contact Sydney Server at 305-562-7363.

Contact Miami Realtor Sydney Server for more information.

Sources: RW Miami, Brickell CityCentre Connect, Faena District
Video Credit: YouTube
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

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Real estate cash purchases will typically pique the interest of Miami investors, as these transactions have many advantages which are discussed below.

Investors are upping the ante with all-cash deals. The New York Times for instance, has reported that 65% of all homes sold in Miami since the start of the year were all cash purchases. Compare this figure to 16% in 2007.

So what are the benefits of these transactions? Here are a few:

• Cost per property is reduced, as with bulk buying other commodities. Real estate brokers will typically package together several related properties for investors to select from.
• Cash buyers waive pesky credit checks that can create red tapes when applying for a loan.
• Investors build a strong real estate portfolio and have bigger opportunities for cash flow.
• Cash buyers predominantly outbid other buyers who rely on loans to fund their purchases.
• Cash buyers save time and money, as closing costs tend to be lower or voided, and the process of meeting lending qualifications aren’t needed.
• No appraisal fees are required as with those found with traditional loans.
• Investors needn’t worry about a high interest rate on a mortgage or paying more than the home or property is worth. In addition, investors will own equity that can be used for other investments.

For help with buying or selling real estate for cash, contact Sydney Server at 305-562-7363.

Contact Miami Realtor Sydney Server for more information.

Sources: Realtor, NY Times
Photo Credit: The Kothe Team
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

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