All Forum Posts by: Dan Barli

I would recommend you go to some local REIA meetings Javante. You're likely to meet a lot of professionals there. Good luck!

Hi Paul, if you have a mortgage on the property, transferring title to your LLC would technically trigger the due-on-sale clause of the mortgage. While most lenders don't do anything about it as long as the payment is being made, I have had clients who had the clause called and their loan called due. So tread carefully with that. If you have an LLC and don't actually own the property in your entity, it won't give you the asset protection you are seeking. It may be wise to open your LLC and use that going forward to try and purchase property in the entity name. You would have to get commercial financing of course, which may be difficult for a new LLC. I would suggest you start speaking with some lenders to get a feel for what they require. I hope that helps!

I think it all depends on the numbers and what you are looking to do with a refinance Tom. What are your goals? 

There's also door knocking, landing pages, websites, google ads and others.

Yes Helen, I certainly handle commercial real estate transactions as well. Please let me know if I can assist in any way :) 

Have you gone to any local REIA meetings yet Ninko? There are usually a lot of wholesalers there that you can network with. I would also suggest you Google wholesalers and then put in the city you are focusing on. There are usually a lot that will come up. Give them a call and introduce yourself.

I would suggest you speak with other lenders to keep seeing the products out there. You may have to work on getting your income up or paying down some of your debts before you can buy the property. Your mortgage officer should be able to guide you on the best steps. 

Hi Helen, yes what you are describing is a cash-out refinance. I would recommend you speak to a mortgage loan officer to find out what their requirements are. Usually, they will lend up to 75% of the purchase price you used when you brought the home. So as long as you qualify and meet their guidelines, you can get back 75% (or whatever their number is) of your funds back. 

Congratulations! 

Hi John, you could talk to a local bank or credit union about starting with secured or unsecured credit cards to build up the entity credit profile. Of course you want to ultimately get it so you have a track record and can purchase properties using your LLC.