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All Forum Posts by: Wendy S.

Wendy S. has started 46 posts and replied 260 times.

Post: House Hacking in Georgia

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Wale Lawal. Thank you.  I understand.  Well I need to find a work around or pushback. I don't see if I had 1-10 members in my family how would this make a difference if I had the same number or less adults cohesively sharing my home that I would be living at. 

Post: House Hacking in Georgia

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67
Quote from @Jules Aton:
Quote from @Wendy S.:

Has anyone ever had the city say they can't rent a part of their home while living there also in a sfh?

It has to be rented to 1 family and how did you get around this?

To clarify, you can't rent rooms you can't rent a part of the house such as the basement or 1 floor? There is adequate ingress/egress, bathroom, parking etc.

If I understand correctly I am surprised you could be prohibited from having a “roommate” in your home. If doing the multiple rent by the room thing it is likely a different situation. How did the city even get involved? 

A code enforcement officer said one of my neighbors had reported me and found my ad to support it.  My immediate neighbors utilize vrbo, furnished finder and airbnb etc but I suspect the one that did was a result of me not accepting an application from a friend that wanted to pay half what I was charging. 

My neighbors are still in violation and I'm not the type to report others just because I'm in a pickle so I'm just trying to see how I can share my home with "1 family." The ad at the time was to rent the basement out to 1 family while my family occupied the other 2 floors. So I'm looking into the definition of family.


Post: House Hacking in Georgia

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

Has anyone ever had the city say they can't rent a part of their home while living there also in a sfh?

It has to be rented to 1 family and how did you get around this?

To clarify, you can't rent rooms you can't rent a part of the house such as the basement or 1 floor? There is adequate ingress/egress, bathroom, parking etc.

Post: Georgia- HELOC or Heloan for primary Sfh

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Jason Wray Thanks. We'll, I'll keep checking to see. Mortgage rates in less than 3.2% across properties so definitely favoring HELOC.

Post: Georgia- HELOC or Heloan for primary Sfh

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Jason Wray Thanks for your response. I do understand the difference as you stated. What I have been finding is that the traditional players ( big banks, Cu ) that offer a true Heloc are assisting about 60 days to close and fund while the more online players such as Figure is offering A Heloc that to me is really a Heloan because you have to take the money over approved for the full amount but they promise a 7 days payout all things being equal.

This is why I specifically asked if anyone know any Lenders and to please clarify HELOC or HELOAN.

Post: Georgia- HELOC or Heloan for primary Sfh

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

Hi All

I'm in Goergia and trying to find the best lenders offering high LTV on primary residence as well as investment properties.

Hoping for 90% LTV on Primary ( found 89.99% via Discover) and 75/80% on investment. Please clarify whether it's a HELOAN or HELOC, thanks. Also, does the initial draw have to be the full amount like a HELOAN even though the product might say HELOC?

Thanks.

Post: Buying new car cash vs financing

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Paul Novak

Well it turned out to be a good decision with everyone happy all around. 

Post: Paid Apartment Investing

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Evan Polaski Thank you

Post: Paid Apartment Investing

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Don Konipol

Wow. Thanks a lot. Will do.

Post: Paid Apartment Investing

Wendy S.Posted
  • Ellenwood, GA
  • Posts 263
  • Votes 67

@Charles Seaman

Thanks Charles.  Underwriting and structuring the deal.  Just read over previous message, Thanks for overlooking the typos that my smartphone autocorrected.