All Forum Posts by: Shanel Dial

Thank you. Appreciate this. 

We have someone staying in our STR this weekend. They asked for a discount before booking and we didn't give it them. Now that they there are there they have complained about bulbs being out and other small things and also say the internet doesn't work. We are not in town since it is a holiday weekend, however we did check the internet on Monday and it worked just fine. Wondering how you all would handle this as it felt from from the start he was trying to get a discount.

Hello, does anyone have any recommendations for the best place to open a HELOC on a primary residence in San Diego?  Looking to have a line of 500k which is 70% of prop value. Thanks!

So if I get a heloc and then use that money as a down payment for a new house. It should be fine

I apologize, when I said line of credit I meant HELOC. We have over $700k in equity in our home. If we did a heloc for $200k and bought a new primary residence using that $200k would we run into any financing issues with that?

Yes

I have a home and want to get a credit line and then use the credit line to purchase a new owner occupied home.  Will there be any issues/items I should be aware of on this? My husband thinks we will need to close it before doing a new purchase.  

Thanks for the candid feedback.  Everything updated it should be between 1.35m or 1.45m based on recent sell price per square ft.  We are in escrow at 1.16m.

It needs all the cosmetic updates, floor, bathrooms (3 full), paint.  Because of the setting issues it needs all the concrete redone. The roof has about 5 years left on it, it needs gutters and down spouts, AC (and solar), and 5 huge trees removed.  It’s a big job. We have a contractor we trust and gives us good prices but he has to outsource the foundation work.  It’s a lot. We knew that going in.  

Hello, my question up front is does anyone have experience flipping homes with foundation issues or do you run away?  I am looking at purchasing a home in San Diego that has had minimal repairs /upkeep over the years.  After our inspection it was recommended that we get a structural engineer to measure the settlement of the house.  It is in an area know for settlement issues.  The reading came back that the home has settled 5 + inches on one side.  The engineer is unable to tell us if the settlement is 40 years ago (home was built in 1977) or if it is current.  We need someone to test the soil (estimating $4k for that test). We love the layout of the house and it has a huge backyard and pool. Concerned about the risk we would be taking on if we would pursue this.