Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Michael Barbari

Michael Barbari has started 22 posts and replied 358 times.

Post: New Real Estate Investor in the Chicagoland area!

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

@Jonathan Klemm Thanks for the tag!! Always happy to help!

Post: Any advice about how to get a business OR personal line of credit?

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

Thanks for the tag, @Jonathan Klemm !! We're Old National Bank now after our merger last July. Always happy to help.

Post: cash-out on first rental

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

Thanks @Victor So. For helocs the seasoning is 12 months to get the appraised value unless all invoices of the remodel are sent. 

Post: How do I get a HELOC in Chicago?

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

@Jonathan Klemm Thanks for the TAG. Contrary to @John Warren you will have many issues getting a heloc on a rental as most banks do not do them. As Jonathan Klemm advised, get the heloc before you move. I've been doing helocs for clients for 16 years now and I'm an investor myself.  

Post: Chicagoland HELOC Lenders

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

Thanks @Daniel C. We might have some options. Pm me.

Post: Running the numbers ( Chicago)

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

Thanks @Jonathan Klemm. Happy to assist!

Post: Need advice/mentor on HELOC in my area!

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107
Originally posted by @Daniel C.:

I just finished a HELOC with @michaelbarbari at First Midwest. They're located in Woodridge which looks like it's not that far from you in Oak Lawn. Process was smooth and pretty quick and also available up to 90% LTV. I had a good experience so would recommend doing an intro call with them if you want more info

**EDIT** For some reason I can't get the @ mention to work but you can find him here on BP or do a Google search

 Thanks @Daniel C. Thanks for the mention and your business. Always here to help!

Post: How should I fund for an investment property

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

Thanks @Jonathan Klemm. Here to help @David Walker

Post: House hack and repairs

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

Thanks @Jonathan Klemm. Always here to help!

Post: Obtaining a HELOC for an investment Property?

Michael Barbari
Pro Member
Posted
  • Banker
  • Downers Grove, IL
  • Posts 396
  • Votes 107

@Zack Karp Just started investment helocs again. 60% LTV. First lien only.