I need help

[Jonathan Cisneros]

My first Rental property. But now I want to sell it, So I can move and free up my VA Loan. Property is a Duplex with newly constructed ADU. Los Angeles Ca. If I do sell. I want a good, knowledgeable Realtor in that area. Referral? Recommendations? Opinion?

[Melanie P.]

Quote from @Jonathan Cisneros:

Quote from @Melanie P.:

How long have you owned it?

 One year and 4 months

 What is your reluctance to renting out the two units and getting a new loan when you move? You've met the residency requirement. 

You would need to check your VA Certificate of Eligibility for the area you are moving. The entitlement code is two digits which will correspond to a maximum loan amount for the area. Subtract this amount from the amount you currently owe and this is the amount of financing you still qualify for through VA. Of course you can also refinance the California home into a conventional investment property loan. Prior to making a decision it is probbaly wroth paying $500 for an appraisal to fully understand what the property is worth with the new ADU.

Los Angeles real estate has made homeowners and investors rich beyond their wildest dreams. I gave up my slice of it 25 years ago. Don't make the same mistake I did if you can avoid doing so.