Success Stories

Self-Employed Investor Secures a $2M Miami Property with Milo

By Colin McMahon

June 21, 2024 4 min read

Self-Employed Investor Secures a $2M Miami Property with Milo

In the dynamic world of Miami real estate, every second counts, and securing the right financing is often the difference between seizing an opportunity or missing out. This was the situation a high-net-worth, self-employed investor faced looking to remodel and rent out a single-family home in Miami. Valued at $2,175,000, this property represented a significant investment opportunity. His financial advisor referred him to Milo for a solution tailored to his unique financial profile.

Our client, a seasoned investor with over $3 million in assets, faced a common challenge among self-employed individuals: his low taxable income, which skewed his debt-to-income (DTI) ratio unfavorably. Traditional lenders, focusing primarily on DTI, were unable to provide a viable loan solution, causing significant delays. As the closing date loomed, the need for a swift and effective resolution became critical.

Understanding the urgency, our team at Milo sprang into action. Unlike conventional lenders, we specialize in investment loans that do not solely rely on personal income verification. This approach was perfectly suited to our client's situation, allowing us to navigate around the obstacles presented by his self-employment status and DTI ratio.

We proposed a 70% Loan-to-Value (LTV) cash-flow loan, which focuses on the potential rental income of the property rather than the borrower's income. This type of loan is particularly advantageous for investors like our client, who have substantial assets but lower taxable incomes. By evaluating the property's ability to generate cash flow, we were able to provide a financing solution that met his needs without the usual income scrutiny.

Time was of the essence. Our client was in the midst of a protracted process with his bank, facing delays that threatened to derail the closing. Recognizing the tight timeline, our team expedited the loan application process. We coordinated appraisals, compiled necessary documentation, and ensured every step was completed with precision and speed.

Thanks to our streamlined processes and deep understanding of investor needs, we successfully closed the loan on time. This allowed our client to proceed with his plans to remodel and rent out the property, transforming it into a lucrative investment.

This story isn't just about securing a loan; it's about providing tailored solutions that recognize the unique circumstances of each client. At Milo, we understand that traditional metrics don’t always capture the full picture of an investor’s financial health. By focusing on the potential of the investment itself, we offer our clients the flexibility and efficiency they need to succeed in a competitive market.

For our client, this loan represented more than just financing—it was a pivotal step in realizing his investment strategy. For Milo, it was another opportunity to demonstrate why we're the preferred partner for savvy investors navigating the complexities of the real estate market.

Choose Milo. Because when it comes to investment financing, we understand the full picture. Reach out to our team at loans@milo.io for inquiries.

The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

Author

Loan Consultant Sales Team Lead

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