All Forum Posts by: Hannah L.

Different cities in the county have their own regulations, too. Oceanside doesn't allow a STR on any property with an ADU permitted after 2017, for instance, regardless of whether you're trying to rent out the main house or the ADU. Check the specific city websites and contact the planning department of any areas you're thinking about. Most have their emails listed on the website and will get back to you quickly. FWIW, consider running your numbers to make sure whatever property you go in on works as a long- or mid-term rental as well, since ordinances change quickly. Good luck!

Hi Angel! I'm CA-based as well and have been self-employed for 7+ years, but my tax returns do not look great to lenders. I worked with someone at Quontic to get a non-QM quote, so they didn't look at my income at all — the rate is about 3% higher than what you'll find with a conventional mortgage, but it's a way in at least. Hope that helps!

@Justin Phillips @Kyle Castaneda Thanks to you both for your insight! I'm actually now looking at doing a cash-out refi on the property. But love knowing there are solid HELOC options as a backup.

@Kyle J. @Dylan Vargas Thanks to you both! The property is in Joshua Tree (Southern California). I'll start with your recommendations and come back with any further Qs — appreciate you!

BP! I own an investment/vacation property in California and am trying to get a home equity loan or HELOC for approx. 50% of its value to put toward another property purchase. I own it outright, have a great credit score, and am self-employed. Having trouble finding a bank that will give this kind of loan. Any suggestions/tips/leads? Thank you!