All Forum Posts by: David Barajas

@Ellen Griffith

Hi Ellen, I know this is an old post but hoping it’s ok to ask a question. I am looking to rent to travel nurses (or medical pros) but wondering if there is a source of info of which hospitals have the most need from travel nurses. Would you where I could find info like that? Thanks! Any info is much appreciated.

@Ratesh D. Hi Ratesh, you end up getting more info on the duplex split? I’m in Sacramento and wondering same thing.

Has anyone noticed there is a difference on rates between the HUD website and the rates posted by a county housing authority? For example, the HUD website for a zip code shows $2,490 (4bed) but the local county shows $2,714.00 (4bed). Does anyone know why the discrepancy? Both are from rates effective 1/1/2021

@DJ Dawson gotcha thanks the info. And agreed, needs to make sense as far as ROI for permitting and construction of additional bedroom. I'll check online about the permitting stuff and I'll review county website for more info.

@DJ Dawson to add, I would be using an existing space.

@DJ Dawson thanks for the response! Looking to rent out to section 8 and they pay more or less on room count but it needs to be permitted (shown in county records) so they can pay the rate for the # of bedrooms. This is how I understand the section 8 guidelines but if there is any flexibility there where I can get the rent and not need to permit an additional bedroom that would be ideal.

@DJ Dawson Hey DJ, I came across this post about permitting in Sac County and also looking to see what the experience is like. Post is couple years old but wondering if you ended up having some experience with permitting. I am looking to add a bedroom to a house that has plenty of square footage (adding bedroom of just 80 sq feet) but don't know how much permitting would cost. Would you have some knowledge or resources you could share? Thanks man!

Hello, 

Looking to get advice on what is the best option for my situation. Here it goes: I have an FHA Loan on my primary residence (currently in forbearance) with PMI of $208 per month @ 3.375% interest mortgage rate. I also have a HELOC @ 4.35% variable for $80k credit limit (current balance of $0) with US Bank which I opened to use for real estate investing. I have the option to refinance @ 2.875% to remove PMI AND lower my interest rate which equates to $300 per month savings on mortgage payment but I would need to close my HELOC to stay at or under 80% LTV to remove PMI.

Options:

A - End FHA forbearance with a repayment plan which still allows me to refinance but also need to close HELOC so LTV looks good to remove PMI. Reapply for another HELOC soon after, maybe at a better rate and fixed rate.

B - End FHA forbearance with repayment plan which still allows me to refinance but still keep and reduce my HELOC credit limit to meet the 80% LTV to remove PMI. Refinance company would need to send Subordination Letter to HELOC lender to agree that HELOC will remain in 2nd position lien which can drag out refinance for maybe another 30 days.

C - End FHA forbearance by paying past due balance of $12k in full with my HELOC and then refinance mortgage loan and HELOC bundled and then close the HELOC. Reapply for another HELOC soon after, maybe at a better rate and fixed rate.

Thanks! Any and all advice is much appreciated. 

Best, 

DB

@Gordon Cuffe great! Thanks Gordon.

Hello, 

If I become a loan officer, would it be out of the question to be paid as a 1099 and not w2? For example, being a loan consultant? 

Thanks!