All Forum Posts by: Paul C.

Hi @Hoseah Njuguna, the experience with PenFed was very smooth. They sought basically all the same financials that you provide for a conventional loan. It took me exactly a month for us to close and ready to use the money. It probably could have gone a little faster, but I had no reason to push for a quick close. Let me know if you have any other questions.

Hi I recently purchased a .6 acre lot in Cobb County Georgia that has a duplex sitting on it. At first I was simply going to rehab duplex and rent, but I have seen this idea that you can actually add an ADU to land zoned as multifamily that I am thinking about pursuing. My question is, what should i expect to pay either price per sq foot wise or total to add a carriage house with like a 2 door garage and a 2 bed 1 bath on top(Quality wise I would want somewhere in the middle, not crazy expensive, but not super cheap either). I know there are a lot of hoops/permitting issues that I will need to address, but wanted to see if it makes any sense financially before I track all that down. Lower or higher than $100k to build entire thing?

Thanks,

@Ethan Henning Thanks man we are excited and Im going to try to document everything so I can do a write up later on. Hopefully we can do business together in the future :)

@Victor Montes I'm in the phase of locating a contractor now and are meeting with a few for estimates, but have never used them before. If things go well, I will pass along their information. So hard to find a good contractor these days....

Thanks @Amanda Wheeler. I used PenFed for my HELOC on investment property and everything went very smooothly.

I recently closed on a duplex in Marietta and will be completing the BRRRR process mixed with a house hack over the next yearish. Fingers crossed everything works out :)

I just came across this poist, but wanted to warn anyone else that sees it. I DO NOT recommend Briggs Radd. I am not going into all of it, but he did not finish our project and took our money with him. Also, he became combative very quickly in the process.

Thanks @John Underwood. I dont think we plan on trying to change or anything unless there is some cool benefit that I'm unaware of. 

I purchased a duplex a few days ago that has two different addresses for each side. For instance, 857 Pasley Dr and 863 Pasley Dr. I'm curious if there is any distinction between having the numbers like that vs just having 857 Pasley Dr with unit A and unit B. Does it have something to do with taxes or maybe they were sold separately from each other at some point in the past? 

@Bryan Mitchell 6 week process. About to use the funds now to purchase a duplex :)

Hi @Sarah Sadd I just posted this in another thread, but I would recommend PenFed credit union as they were the only bank(I tried 40+) that would loan on an investment property. The process was straightforward. Let me know if you have any more specific questions.