All Forum Posts by: Tony Dinh
Tony Dinh has started 2 posts and replied 3 times.
Post: Best type of loan to build an ADU
- Posts 3
- Votes 3
I have an investment property that is fully paid off in garden grove California. I plan on doing some renovations to the main house and building an ADU.
I wanted to see what would be the best type of loan that I should be looking into. In terms of potential tax write offs and savings? HEL, HELOC?
Quote from @Brandon Croucier:
Hey Tony,
None of those are bad options, honestly if you have paid off investment properties; the best terms are probably going to come straight from a cash out refinance.
Line of credit is a good option due to only paying on what you use but if your planning to start construction immediately I would go with the cash out, its going to be less headaches as well.
Both of them are paid off; but I herd the fourplex might be at higher rates since they look at NOI instead of LTV?
I am looking to do some financing to build on one of my vacant lands. I wanted to get some input on what would be the best way to get financing. Should i do a heloc or cashout refinance. I own a paid off SFH investment property and also a FOURPLEX investment property that is also paid off, would it be better to cash out refi or do a heloc on the SFH or FOURPLEX. Or is there any other way to acquire financing that would be a better option to do deductions and write offs.