All Forum Posts by: Alison Horton

What I did in Berkeley is add the adu as unit B. I don't if that qualifies as a completely different address in Oakland but I would ask around different dept.s, especially the fire dept. That was the ruling dept in Berkeley.  The reason why it's important is so the fire dept can find a fire and isn't wasting time in the front if there's  B unit in the back that's the one that is burning down.

Still have their contact info?

Wow, what a crazy thread. Sounds like a straight up TIC to me (get the language straightened out with a lawyer so you know exactly what the risks are and think hard about how you can minimize them, housemate to cover if she bails and you need the income, whatever). We do them all the time around here, married or not. Everyone was so quick to judge you based on the entirely irrelevant marriage issue I don't know if I want to ask my question. I'm looking for someone to become an equity partner buying a share in my house. I have a beautiful 1 bedroom apt ADU in the basement in a great location but I don't know if I'm just going to get dumped on.

I finally finished the renovations on my gorgeous house (that's what everyone else says anyway) and I'm renting out the 1 bedroom apt below and just started renting out rooms in the main house where I live. This is in downtown Berkeley where there's practically never an empty rental. The problem is that I don't have a year's seasoning on all the rents, only the 1 bedroom portion. Anyone know where I could find a loan on this for 5%? I have great credit (717 last I checked) but no income. I'm less than 50% LTV.

What search terms should I use to find this type of lender since it's not y our typical NINA?

Thanks

a

What do you think about about a TIC in downtown Berkeley? Library, movies, restaurants, farmers market, trader Joe's all easily walkable.

There's a 1 bedroom apt downstairs, and bedroom/bath suites upstairs in an old Victorian. And, unlike most condos, you get to garden, collect eggs from the chickens, make messy projects in the shop downstairs. There's a parlor and a living room, and a dining room as well as a big shared kitchen. 

The apartment goes for $450, and the bedrooms from $320,000-400,000

Any opinions?

I'm assuming they'll have some cash. I'm hoping there's a few people with some money saved up who really want to live in this area but can't quite qualify. 

They can get access to so much more in a house TIC than a condo, not to mention much less fees and sensible housemate-like rules.

What do you guys think?