All Forum Posts by: Rommel Pascual

@Precious Thompson

Paying ahead on lease doesn't give you the right to kick someone out assuming they are also on the lease. It sounds like there is more to the story and we will need to get some more details before members of this forum can chime in. Why do you want to kick your roommate out? Are you both on the lease? 

@Ryan Booth

Thanks for breaking that down. The last statement at $200-$300 gave me a good idea that this is not an option for me when new house prices are going for around $200/sqft. 

Thanks again.

@Sam LLoyd

Thanks for your response. I pretty much want to remove all the walls and start from scratch using my existing lot. I heard leaving one wall up and build out the rest of the house might be a better option rather than demolishing the whole house to start from scratch. I'm not sure but I heard it was some type of permit strategy when it comes to remodel vs. rebuilding. My house is pretty old and is pretty much dated. Instead of upgrading piece by piece like new window, new roof or new floors. I wanted to start out with a whole new floor plan.  

I've been entertaining the idea that it might be more cost effective to build a new home out of my already existing home than trying to buy a new home. I'm curious if anyone has had this experience and what would the first steps be? How can one estimate the cost? I have floor plans from all the new home in the area and would like to duplicate one of them. Any advice would be greatly appreciated.

I'm looking for a Real Estate Agent in the Vacaville Area. I will be buying a new construction home and thought I could use a good agent who has some experience around new development. I already know where I want to buy and I'm hoping for an agent that can help me negotiate a deal. 

@Brent Coombs

There will be some cash flow($1000 - $1200) when rented but a portion of the HELOC would also be used for getting the current house rent-ready ($5000). I haven't done the numbers yet but I guesstimate I should be paying around the same monthly of $1500/month as I did prior to my refinance with the cash flow off setting my new mortgage. This might not be a sound strategy but I'm curious how trying to get a HELOC and VA Loan at the same time affect each others process?

@Brent Coombs

Unfortunately, The wifey wants a new house and new homes around my area cost more than the allotted $417,000 for a zero down. Anything above will require 25% down. The house we are looking at are around $475,000. I would prefer to use my VA loan on a less costly home with small cosmetic rehab but a happy wife...happy life. :-)

Thanks for recognizing our service to this country. 

I will have about $200,000 in equity after closing my refinance. I plan to apply for a HELOC and use a portion of it as a down payment/closing cost in acquiring a new home. How will applying for a HELOC right after closing a refinance as a primary home affect in getting approved for a VA loan for a new home as another primary residence?

 I believe the florida tax exemption you are referring to are only for military member rated at 10% or more disability and its only up to $5000 in property tax and not capital gain tax. I'm no CPA but I just read it in the florida state tax website.