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23 June 2024 | 3 replies
Hi, I recently completed a gut renovation that converted a single into a multifamily where I currently occupy one of units.
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23 June 2024 | 2 replies
Some parks allow rentals while others only allow homeowner occupied units.
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24 June 2024 | 7 replies
It was tenant occupied for 2 years.
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23 June 2024 | 6 replies
For those recommending agents, in our experience, +95% of agent only know how to deal with owner-occupied transactions.
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24 June 2024 | 20 replies
I may have been listening to the podcasts too much (I'm through around half of them)I'm all for giving the current tenants a chance, but it seems like I have to just take them without knowing anything about them, no idea of how they were screened, their payment history, etc.This is just a duplex, is it a very common thing to sell an occupied unit (on the lower range, not 4plex+)?
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22 June 2024 | 6 replies
Overall I think it is a good gameplan.One other option you might consider to scale faster perhaps is to buy the 1st two as owner occupied.
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22 June 2024 | 12 replies
Most work this way Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
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22 June 2024 | 3 replies
If I purchased it and actually end up occupying the ADU and renting out the main house would that help with avoiding any risk from the ADU?
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22 June 2024 | 5 replies
From CSLB:This section defines what an owner-builder is and the laws surrounding the practice.An owner-builder is what the term indicates: a person owns the property and acts as their own general contractor on the job, and either does the work themselves or has employees (or subcontractors) working on the project.The work site must be their principal place of residence that they have occupied for 12 months prior to completion of the work.The homeowner cannot construct and then sell more than two structures during any three-year period.Getting a GC license and going Legit is pretty difficult.
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20 June 2024 | 13 replies
We have found policies that would cover the entire property if it was not owner occupied, and we have found policies that would cover the property if the units were connected.