VA Loan / California ADU Business Strategy

[Randy Olaes]

Hello Community,

I am a VA Loan homeowner. I secured a low mortgage interest rate during COVID, and hoping experts in this forum could recommend VA Loan business strategies as I would like to convert our permanent home into rental property and transition into another home.

1. Should I consider converting my 1950's garage into an ADU as I live near a college? If so, what is the best business loan strategy (ala VA-backed cash-out refinance loan with new terms or VA construction loan, etc.)? The rental intent is to have a full family home + ADU (college student or traveling nurse).

2. How do I find assumable VA mortgages or assumable FHA mortgages?  

Any recommendations for a SD RE, ADU General Contractor, and VA Loan expert. Thank you.