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All Forum Posts by: Michael Barbari

Michael Barbari has started 22 posts and replied 358 times.

Post: New Chicago South Investor Meetup! 7/28

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

@Jeff Valentino

My office is in Palos Heights not too far from you. Let's grab lunch soon. I'm not able to attend.

Post: 838 equifax score, $100k cash, but no income.

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

@Michael Scott

@Bob Green

 Has some asset based programs available. Not sure where he can lend but a good place to start.

Post: Cash Out Refi on Primary - What I'm Being Charged

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

@Jimmy Watson

Why are they charging you a point? Are you buying the rate down?

$595 underwriting

$395 document prep

$175 warehouse funding

I would have these removed. Have you shopped other mortgage brokers or banks?

Post: How to pull out money from a 2 flat that isn't your primary residence?

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

@Marcin Talaga

I can do helocs at 75% LTV on properties up to 4 units. Have him call me tomorrow

Post: Looking for Turn-Key Companies

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

@Jay Hinrichs

I'd love a copy of the book as well. Thanks!

Post: How to pull out money from a 2 flat that isn't your primary residence?

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

@Marcin Talaga

I might be able to help. Is the property under his name or an LLC?

Post: Cash Out Refi on Primary - What I'm Being Charged

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

@Jimmy Watson

Find out what the exact breakdown is in the origination. Sounds high.

Post: Cash Out Refi on Primary - What I'm Being Charged

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

@Jimmy Watson

What fees are listed on the good faith estimate?

Post: Would you consider property listings that have sat on the market for awhile?

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

@Joshua Gawaldo

I would definitely look at them. You never know what you're going to find. Have they lowered the price since the listing?

Post: Is it advisable to pursue a Real Estate license?

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

@Andrew Bondarchuk

I have a full time job and got my RE license this past October. I definitely would recommend it. Join a 100% commission firm. Good Luck!