Home Buying & Real Estate Thread

Is it normal to pay for the banks attorney fee ? Is $2k excessive ?

How does the APR affect your loan ?
 
Professional pics of my most recent project in Bonita, CA. Open house this weekend if anybody in San Diego is interested coming thru. Just IM me for details.

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lot of dang garages.

that came out great.

Lol yah. The garage with 2 doors was turned into a work area by the previous owner. We cleaned it up and kept it the way it is but can easily convert it to a garage again. This house sits on a 1/2 acre and the 1/4 is just dirt. Can build anything on there.
 
Super excited that we have been chosen to do a full design & remodel for a new client here in SD. It's a condo in Imperial Beach and it's right on the beach :smokin This is going to be fun.

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Need some advice here

Might be getting a roommate soon. From a legality standpoint (I live in ca), can I kick them out at any time? Or can they stand their ground and it's a process?

Obviously I'm not looking into just kicking somebody out of the blue, but if **** were to hit the fan, I'd wanna know what I can/can't do :lol

Do I come up with a contract and have both of us sign and get it notarized?
 
Need some advice here

Might be getting a roommate soon. From a legality standpoint (I live in ca), can I kick them out at any time? Or can they stand their ground and it's a process?

Obviously I'm not looking into just kicking somebody out of the blue, but if **** were to hit the fan, I'd wanna know what I can/can't do :lol

Do I come up with a contract and have both of us sign and get it notarized?

If it were me I'd draw up a contract.

https://www.apeopleschoice.com/how-to-evict-a-roommate-in-california/
 
In a business transaction, always create a contract. Even if you're not able to legally execute on it at least you have a "meeting of the minds" so one party can't claim that something was part of the agreement when it wasn't formalized
 

Another pic of stained floors
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Probably won't be able to do it upstairs but might do it for all of downstairs , depends on the cost
 
Need some advice here

Might be getting a roommate soon. From a legality standpoint (I live in ca), can I kick them out at any time? Or can they stand their ground and it's a process?

Obviously I'm not looking into just kicking somebody out of the blue, but if **** were to hit the fan, I'd wanna know what I can/can't do :lol

Do I come up with a contract and have both of us sign and get it notarized?

I believe in Ca. after 30 days, they have long term renters rights. I don't know too much about it but I want to say that it would mean they're not trespassing and cops can't remove them. You have to go through an eviction process.
 
Question of my own

We recently inquired about a HEL to do a renovation on our house. We're looking to add a master suite downstairs. The bank told us we needed $80k in assets for roughly a $125k loan. Is that pretty standard? Would there be lenders who might require a smaller amount?
 
Need some advice here

Might be getting a roommate soon. From a legality standpoint (I live in ca), can I kick them out at any time? Or can they stand their ground and it's a process?

Obviously I'm not looking into just kicking somebody out of the blue, but if **** were to hit the fan, I'd wanna know what I can/can't do :lol

Do I come up with a contract and have both of us sign and get it notarized?

I believe in Ca. after 30 days, they have long term renters rights. I don't know too much about it but I want to say that it would mean they're not trespassing and cops can't remove them. You have to go through an eviction process.
Would we be able to sign something and get it notarized stating if I want him to leave, he has to?
 
Question of my own

We recently inquired about a HEL to do a renovation on our house. We're looking to add a master suite downstairs. The bank told us we needed $80k in assets for roughly a $125k loan. Is that pretty standard? Would there be lenders who might require a smaller amount?

What is the remaining mortgage prior and appraisal value?
 
What is the remaining mortgage prior and appraisal value?

Remaining mortgage is $550k and AV is $725k

I have another property with a RM of $250k and a AV of $500k that's a rental property

How's your search for your second property?
 
I'm not really sure but if I was a tenant, why would I sign it?

Right you can't just kick them out just because. Come up with a lease , seems like a month to month lease is best for you then establish all of your house rules on the lease. If they break the rules then you have grounds to a 30 day notice to kick them out.

Just google "month to month roomate agreement" cater it to your needs.
 
Remaining mortgage is $550k and AV is $725k

I have another property with a RM of $250k and a AV of $500k that's a rental property

How's your search for your second property?

You can probably shop around - it's probably that based on your leverage they want additional liquid collateral.

We've opted to do an addition to our house to expand so we won't be doing another property for a while now. Ideally, would like to find a place in CA first to get our bearings with how to run it, structure it, etc. versus going out of state. So it gives us time to re-up our cash position, etc.
 
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