All Forum Posts by: Mellany Aquino

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I def was not planning to take on such a complex rehab for my first time lol! If I ran the numbers right, after taxes etc, a lot of money will be left on the table if sold as is. With rehab, I can make a really profitable rental income. The end goal is to pay for the mortgage and my dad's monthly nursing care expenses. 

Hi Whitney. My sister and I would like to try to keep the house as a rental, one because my dad is very sentimental about his home, and two because we know the rental market and home appreciation in San Francisco is pretty consistent. Plus, if we have to, we figured we could always sell for a really good profit later at some point. I looked into a HELOC briefly. Would you choose that over a HML, and why?

Hi everyone! Super newbie here. Hoping to get some valuable insight on my current situation. I’m inheriting my father’s home in SF, he recently became ill and I’m hoping this plan will help pay for his medical costs. 

Here are the numbers:

ARV: $1M

Balance: $140k

Repairs: $150k+/-

Sq ft: 1400

Year: 1941

Plan: BRRRR modified
Transfer of title in me and my sisters name. Then refi and cash out to fund renovation. GC bids about $150K+/- to convert to legal 2 unit home. Problem is, getting SF permits is a nightmare so timeline could be 1 year. 

What's the best financing choice? And one year in holding costs scare me. HML seem like a good contender but being stuck in a high rate that long?! How do I calculate this to evaluate accurately?

If the holding costs are too costly, should I just keep it a single family home? This will cut the rehab time to 3-6 mos instead.