All Forum Posts by: Ryan Heywood

There would be PMI, my lender quoted me $33 a month and both of us were surprised at how low it was. How about deductions, will occupying the property alter what I can claim?

I currently have a two unit property under contract, initially it looked as if it was going to be classed as an investment property with 15% down. Our lender has now informed us that since it is multi unit it will need to be 25%, or I can purchase it as my first primary residence. This may work as one unit won't be rentable for a year and I can occupy it. That said I can also afford the bump up to 25% down. Are there tax incentives that should tilt my choice in a specific direction?  

@Gary F. I'd love to know this too, currently weighing the value of an ADU add to resale. Going to give this thread a little bump. Maybe someone can point us towards a good source of info.

I'm looking at doing an ADU up in the Napa Valley, it seems to be a good opportunity right now for areas with restricted housing supplies and steep prices. I've been looking at an outfit called North Coast Packaged Homes (is it kosher to mention them? I've got no financial interest). They have pre-engineered homes in the 650-900 foot range that are pretty cost effective. My family is involved in the trades and and I've heard of $850-1,000 per square foot up here. That said these projects are usually top shelf everything.

My girlfriend is looking for a house in the areas west of Phoenix (Avondale, Goodyear, and Verrado). She is going to be paying all cash, I’d love to hear if anyone has opinions on what to look for. The budget is about 260k max.

Sounds like it could be a great opportunity, definitely follow up on it. If his price is too high, you can always have him value each and then pick out the better deal. Good luck!

If you know any local builders or architects I’d reach out and ask them if they have any experience doing this work in your area, could save you a bit of time doing research.

What you are wanting to build is an Accessory Dwelling Unit or Junior Dwelling Unit, which hopefully your zoning will allow. Out here in California the state is promoting this option to help solve our housing crisis. Ideally try to get the unit metered separately, sometimes this is possible and it allows you to have the tenant cover their own utilities. I’d check the local municipalities website and learn the regulations for specific zoning first and foremost.

Thanks for the insights Cody L. I like your paperless policy, especially starting it from day one. I’m going to keep that in mind.

Enjoyed this, especially hearing the dirt bike and locked door stories. Thanks guys!