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Good morning to all out there! Here I am to give those interested, information regarding the real estate market. I am always looking out for news that would give me feedback, because my concern is the money I invested in Property Invest USA. I guess that has to do with the fact that I am not a person of many assets, yet, I was able to save some money to invest. But when you put all your money in one pot one gets anxious.

So let me tell you what I have learned concerning the real estate market. I learned that the market today is growing with an exceptional increase due to the fact that credit rates are around 3% which are very low, therefore, people want to take advantage of the situation. That there are many types of loans depending on the investment. That a foreigner can ask for a loan if they have 30 to 50% of the property value as down payment and comply with the requirements. One does not have to be a resident but should have enough capital to pay the monthly mortgage. Also I heard in a training meeting held here in the office from a person in the mortgage business with 20 years of experience that there are many types of mortgages to suit each individual needs, that banks are being very cautious, they revise the documents submitted very carefully and check with tax revenue and employers to make sure the person can pay the loan, in fact, they check the working status with the employer 15 days prior to signing 7 days before and on the same day the person signs, but this measure is good because it protects the lender from having foreclosure.

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The market has boomed so much that a well known bank of Coral Gables is forming a joint venture with a mortgage company. Mr. Miller Wilson, Vice President and CEO of the bank said: “the ongoing positive sales trajectory coupled with generationally low interest rates which are expected to continue throughout 2021 , has created an unprecedented momentum in the residential mortgage origination space”.

I find that this is good news for people that want to invest in properties for capital gains. But it is important to understand that Property Invest USA can only be bought with cash, because this market is of houses at very low prices to be rented for people with very low income under a government program. Besides banks do not have loans lower than 350.000, and it takes more than 45 days to accept the loanee. This cash deals must be closed within a two (2) week period. The market moves so fast that the property may be lost and you would have to start again with a new property. This type of investment which generates gains in a 45 day period from time the deal is signed can not wait for a bank loan that would take almost 3 months to be accepted. But if you have already invested in Property Invest USA and have 30 to 50% of the property value as down payment and the country where you come from is not banned by the bank than you can certainly apply for a loan to buy in Florida.

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Since I am a US citizen and if by any chance I am able to save enough for a down payment on another house as a second investment here in Miami I would certainly take advantage of a loan since one of the requirements is that your earnings be enough to cover the mortgage. Due to the fact, that I have revenue from my first investment it puts me in the position of covering the mortgage so the other investment would be a capital gain, it’s a win/win deal, and maybe this will the step in the ladder to a next investment In Property Invest USA, which I still think is the best deal in the market.

For those who are thinking of investing  don’t waste time and money, THE TIME IS NOW!! I just wish I can do it again.
Yeni Gomez