@Aaron Alsup The banks generally do not have lower loan amount restrictions.

The comment about supply not catching up to demand was as much about the restrictive and lengthy entitlement process as it was about the diverse and robust employers in the area in a variety of sectors.

Hey Anthony,First off you need to make sure the area you plan to add the ADU in has no zoning restrictions or CC&Rs (covenant codes and restrictions) as this can put an immediate halt to your progress.

Private Lenders and Commercial Lenders restrict the amount of their loans to 50% LTV if its a cash out from equity in another rental.

@Ryan Solomon - I’ve had lower vacancy and higher rents because the kids on campus were kicked off because of the covid restrictions for the on campus housing. (1/2 occupancy).

When you say Section 8, does that mean there is a LURA (land use restriction agreement) recorded on title? 

@Frank Hinck@Leon Lee  Simply refinancing out of conventional loans into commercial doesn’t “reset the clock”...the restriction to getting a conventional loan is having “10 mortgaged properties”, not “10 conventional loans”.  

In the states with restrictions, we'll require a greater discount. 

The HELOC is for $57k, but I had to use $30k of it to pay off a grant I used to help purchase the property (That's a whole other story, but essentially the grant had a ton of restrictions I didn't know about and after running the numbers I decided I was as way better off just paying it back) so only $27k is available right now.

Some cities have restrict codes vs others are more relaxed.