All Forum Posts by: Dan Barli

There isn't a way to "guarantee" that you can do a cashout refi Brian, but the best thing to do is speak with several loan officers to find out their criteria. Do they have seasoning requirements? Proof of scope of work and payments? What is their loan to value on a rehab project? Once you find those things out, that should give you a guide. 

I would say to hold off on the license then if you're just starting to get educated. Go to local REIA meetings, read as much as you can, network with professionals. Definitely start putting your team together. Once you get some more knowledge, you will probably have a good feel of if a license can benefit you or not.

It does help with obtaining information from the MLS and possibly saving on commissions. Remember the seller is the one who pays the real estate commission generally. If you are buying and holding, you wouldn't be paying the commission since you're not selling. If you're just starting out, I would suggest you get more education in the areas you're looking for regarding BRRR. Have you spoken with a mortgage lender yet? You want to make sure the last R - refinance, is secured before utilizing this strategy.

I always think it's prudent and sound to have a real estate attorney on your team to make sure everything is done properly and your interests are protected. 

I sure can Selvin. PM me and I'll give you the details if you'd like.

Hey Chris, the pro's are that he will likely work harder for you to help you find deals. The con is that any deal you find by yourself or through any other source, he will still be your agent on that deal. I've seen it cause a problem for some buyers if they no longer want to work with that agent. If you want him to be your exclusive agent, make sure you are comfortable with him and what he can do for you. Just know what you're singing with him...

You can present an offer with seller financing to the seller. If they accept, you can secure them in first-lien position as the mortgage holder. If you want, you can PM me and I can give you more information and recommend a great title agency. 

I think it depends on what you are looking to do Joshua. Are you looking for MLS listings? If so, a license would help you. However, you always have to disclose that you're a licensed real estate agent if you are operating as an investor.

I would recommend you read the guides and tutorials that are on this site. That will give you a good foundation and education to begin. 

I would say it depends on who the buyer is. A rehabber doesn't care about the condition because they are fixing the home, so they are probably more price-sensitive. A retail buyer purchasing off the MLS is likely more concerned with the condition of the home.