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All Forum Posts by: Dan Barli

Dan Barli has started 13 posts and replied 953 times.

Post: Defaulting on Seller Finance

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Kiki Levin my pleasure. Let me know what you find out. I didn’t know you were in London. Interested in seeing what you get.

Post: Down payment amount

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Anthony Di Biase the more you put down the lower your payment and subsequently the greater cash flow. It depends on your strategy but putting more down usually will keep your payments as low as can be

Post: Due Diligence when buying all cash

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Yesh Ravi if you're looking to do the BRRR strategy, make sure your last r -refinance is lined up and secure. Otherwise you'll find yourself in a bad loan. When buying cash, you should still do inspections and get title insurance. Hope that helps!

Post: LLC mortgages for 2 family

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Victor Ostreicher you’ll have to speak to some commercial mortgage loan officers to get financing in your llc. You will have to sign a personal guarantee on it but that’s the way to do it. Rates will be higher than “traditional” residential mortgage rates but you won’t close it in your own name.

Post: My first investment

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Colette Phillip I’d suggest you speak with a few other mortgage loan officers to see what products they have for you based on your income documentation

Post: I want 2 buy my aunts house

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Brett Magwood how do you plan on purchasing the property? Did your aunt leave a will? I’m not sure what state you’re in but it may have to go through probate

Post: My first investment

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Colette Phillip what kind of income documentation do you have available?

Post: Alternatives to Extending Loan

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Jaki Ollango you can ask them for an extension. There may be a fee but I’ve had clients get it

Post: Forming a Business? LLC?

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Vincent Ciccarelli you will need one at some point so it can’t hurt to have it now. Just make sure you have it set up correctly. I recommend using a real estate attorney to help you.

Post: BRRRR investing in a New Market

Dan BarliPosted
  • Attorney
  • Clifton, NJ
  • Posts 1,018
  • Votes 328

@Marky Suazo of course. Pm me and we can discuss. Looking forward to hearing from you