We need BP to take us beyond!

[Jake E.]

Hello BP! We are frozen on what to do next! Wife and I are located in Southern California. We have two homes... our dream home and our first house which currently sits vacant. We just got final blueprints and permits to build a 2,000 sq ft addition on our first house which we will turn into a duplex. We think we've done pretty good so far but not sure what the RIGHT steps going forward look like. We have the cash to build the addition. Wife and I are looking at either using our savings to build the addition or getting a HELOC to pay for the building expenses while doing something smart with the cash. Which way makes sense? Ive watched too many Youtube videos lately and our first baby is due in about a month! Cant think straight right now seriously. Thanks for any tips, cant wait to jump into the threads here.

[Nathan A.]

How much cash would you have left if the addition goes 50% over budget? Would that leave your household with less than six months of an emergency fund? If so, get the HELOC to be safe. Your growing family needs you to be financially safe.

Good luck with the baby and my hat is off to anyone who can manage a project like that while expecting.