All Forum Posts by: Jonathan Rabot

Hello,

Quick question we are in the process of adding ADU to our SFH. Have not yet started renovation but do have plans. Using a HELOC loan for financing. House was appraised using ARV.

Can I use this appraisal now to remove PMI or does the renovation have to finish? And would I need another appraisal thereafter to request removal of PMI.

thanks for the help! 

Hi BP,

Bought a single family home corner house with 2 separate driveways. Looking to renovate the den & garage into an attached ADU.

Wanted to see if there were any positive referrals for companies that have worked in the area that would be good to work with.

Also, looking for quotes to see if we can afford it or see strategies to finance it. 

Appreciate any feedback. Thanks!

Hi BP Community, 

Purchased 1st home last year after watching the 90 day challenge webinar, Plan this year is to renovate one side if house into an ADU.

Getting ready to do our taxes and looking for referrals in the area that can assist with explaining last year home purchase and it effect on our taxes.

We also have a home office which we started using this year a my wife works remotely from home with her 2nd job, 

Any advice / referral would be much appreciated. Thank you!

Hi BP Community,

1st time home buyer currently in escrow.
5 days ago lender suggested to lock rate at 5.99%, which we agreed to lock it in at that rate.

Received a notice today that rate was unable to be locked due to fluctuations in market. Now rate is higher and about 2.5 more weeks till escrow closes.

Looking to see if this has happened or can occur and options we have moving forward.

Appreciate your thoughts.

Hi BP Community, 

1st time home buyer currently in escrow. 
5 days ago lender suggested to lock rate at 5.99%, which we agreed to lock it in at that rate.

Received a notice today that rate was unable to be locked due to fluctuations in market. Now rate is higher and about 2.5 more weeks till escrow closes.

Looking to see if this has happened or can occur and options we have moving forward. 

Appreciate your thoughts. 

Hello, 

First time home buyer looking into using the house hack strategy. 

Came across a property with an already built ADU but it is unpermitted. Wanted to find out thoughts of pros/cons of purchasing? and any insight to barriers if bought on getting it permitted or just rent it out as the previous owners are doing?

Appreciate the help!!

 Hi All, 

Looking to purchase first home/multifamily unit in Long Beach, CA (or surrounding areas). Have used the Rental Property tool for many different multifamily homes and have been coming up with negative cash flows. 

Am I using the Rental Property tool incorrectly or is LA county, CA known for not giving positive cashflow returns. 

Appreciate any help. 

Thanks!