All Forum Posts by: Dan Barli

Hi @Account Closed I don't blame you. Birmingham was a top market for me too. Let me know if you'd like to discuss further. I'm always happy to help 

You would likely need a CO for any legal unit. As @Kevin Hill stated, it can never be recommended even if a town may overlook it.

I've had clients over the years face heavy penalties for not getting the CO on a particular unit.

If you're refinancing, hopefully you don't have to put any more money down. 

Lots of banks have different options Ouman. I would suggest seeing what they can do for her. Combining multiple properties may put you into a portfolio lender space. 

That's great Rigo! I keep adding rental units to create more income streams. What else are you doing?

Welcome to BP Allison. It's great that you are ready to take the leap on your first property. I would recommend you perform all your due diligence as much as you can. What are your goals on this SFR? Is this a rehab/flip for you or a buy-and-hold?

Welcome to BP Victoria! What made you select the Birmingham market to invest in? Similar to you, I live in NJ and Birmingham is one of my markets I choose to invest in. PM me and we can further talk as well. 

What are her goals in doing this Ouman? That would likely determine the best way to proceed. There are closing costs associated with a refinance of course, so that should be factored into the equation.

Hi Ekamjot, it depends on your specific situation. If you put down a lot of money on the purchase and have equity, you likely can refinance it any time. It depends on the lender's criteria and your qualifications. Also, be wary if it's a commercial refinance, there may be a prepayment penalty that should be factored into your decision. 

Hi David, if your bank will give you a HELOC on the new primary home, then I don't see a reason why you can't get it. If it's the same bank, they may require you to close the first HELOC out though. I guess it can't hurt to ask them!