Two SF with ADU (Accessory dwelling Unit)

[Will Cruz]

I recently own a Single family built in 2020 that is 4bed 3.5 bath between Ewa Beach and Kapolei which I owe 770k and is worth 1.250M. I also went under contract on yet another Single family with ADU back Jan2023 and is now complete and ready to be moved into which I bought for 1.1M and is worth 1.250M. I currently rent out the 1st ADU for $2100 and the front of the house can be rented out for $4100 for a total of $6200. My payment is $3375 at 2.25% interest which leaves me a net profit of $2825. The new SF ADU will also be rented out for $2100 which my payment on that is $5450 at 5.25% interest and I will move to the front of it for now (When I move out i can rent the front of that one for $4100 for a total of 6200 minus the mortgage which is $750 dollars profit but Brand New. I have a duplex in VA beach which I net 1000k a month. My question is should I sell the new ADU and use funds as down payment for the new home or should I stay here another year and just save up for a down payment to use on the new home and keep both SF/ADU's? Is the $750 worth keeping?

[Cydney Gray]

Quote from @Will Cruz:

Thank you Cydney. I am currently looking for someone to do a HELOC on new ADU to purchase another one. Do you know of any lenders in FL?

Hey Will! A HELOC would be on the whole property, so the main dwelling and the ADU. Generally, the best rate, terms and lowest fees are from locak banks and credit unions. Google HELOC with the name of your town and you'll see who lends in your area. You'll need to qualify using your income documents. If you are looking for a HELOC that you use deposits into your bank account instead of your paystubs and tax returns, let me know. I have that and I'll find someone in FL to help you out :)