All Forum Posts by: Victoria Redlin

What is a good source for a HELOAN or HELOC in December 2024?

My client is looking for one to consolidate some current debt and to finance solar. In California SCE is always turning off the power. 

They can get a loan from the solar company, but would prefer a HELOAN or HELOC to cover the solar and consolidate. They have equity and a great first interest rate.

Thank you in advance for suggestions. 

Relative has a 4 bed, 2 bath home.  She no longer needs to use the full house and could use some income. What do you think the best use of the home would be?  She probably has about another 20 years before retirement. 

1) Leave it as a 4 + 2, rent to one tenant, monthly rent about $3800./mo. She'd need to move out and rent a different place for herself. Probably around $2200/mo. She'd have one tenant, wouldn't need to live on the property with tenant. 

2) She could house hack it into two units. Live in one and rent one. They'd each have their own entrance, yard and living space, on the same lot. She could stay in one and rent one. She could rent both and move. She'd have two tenants. Each would rent for around $2200/mo. She'd have to invest some money to create this set-up. 

3) Selling doesn't make a lot of sense, because in this market, she'd end up paying the same for a small place, condo, with less flexibility. 

@Halle Hughes, @John Culotta I'm replying on this old post, but am wondering about this business model. I have several friends 60+ who are single and thinking about renting a single family, single story home together. I am wondering if any of you pursued creating rentals using this idea and what you've learned from it. Thank you

Thank you for the through reply. This sounds like a good product for the right situation. It makes a lot of sense to me.                                                                                                                          I currently handle the leases and collecting rent. I want to get this process more automated. I'm looking into the different software programs available. I think Obligo is totally independent of those programs. If there's any input regarding that I thank you in advance. 

I just heard about Obligo.com Does anyone have any experience with this, as either a landlord or a renter?