All Forum Posts by: Dan Barli

@Randolph Brown disadvantages of HML also include the period in which you have to pay it back (usually one year to 18 months) as the name suggests it's expensive. People use it to close quickly and they can finance the rehab costs. It's just the cost of doing business

@Adrienne Silversmith you can probably contact the city building department with that information

@Casey Creighton that’s awesome that you have capital to deploy. Have you evaluated markets already out of state? Which ones do you like? I think it’s best to determine your longer-term strategy and then that should tell you the best way to use your funds.

@Katelyn Latour you can also look at using your local bank for the owner-occupied loan and the possibly a portfolio lender to finance the other two under one loan. Maybe also talk to some commercial lenders to see their options

@Kevin Marcucio you can use an fha on a three or four family if you’re living in one of the units. You should consult with a mortgage officer to find out about refinancing or keeping the older fha loan. How long have you had it?

@Sachin Amin I would suggest you consult with a real estate attorney in those markets. However be careful as transferring the property to an llc could trigger the due on sale clause. Have your attorney carefully examine your mortgages

@Dale Lanford it’s not common especially if it’s an exclusive. Personally I would avoid signing such an agreement until an agent showed their value to me. He should definitely be compensated for any deal he brings to you but if you find it yourself I don’t think he should have a claim on that. Again, it depends on what the agreement says

@Dimitri Paspalaris I’ve never seen anything that he couldn’t be. He would buy the property? And then you would sign a lease to him as your landlord paying rent?

@Anna Catron I think you’ll have to shop around with different portfolio lenders to see who will let you pull out more. Everyone has their own criteria

@Marlon Lemond that’s a sound idea. If you’re doing direct mail just make sure to commit to it for a good period of time to see results.