All Forum Posts by: Francis Woods

I haven't done as much research here as I'm still in the early stages but I was told the same thing in Oakland. I think the fire department requires separate addresses which in turn triggers the separate meter requirement. And I was also told no gas appliances in an ADU so it would only be the electrical meter. Was hoping to upgrade my service to the main house first, but now I'm left waiting to get approval for the whole lot as I'll have to split it in to two meters...

Hey there, I was wondering if you guys got anywhere on this? I'm planning a detached garage ADU conversion (tear down) and am currently upgrading my main electrical service/panel on the primary residence. I was planning to do a single meter panel combo 200A and feed the ADU off that but I'm now trying to figure out whether I need to have a separate meter because if I don't do it now I'll probably have to rip it all out later!

Hi guys,

I'm looking to take out a HELOC to pay for a new roof and pay off some credit card debt that was accumulated to remodel the house. As I moved to the US 6 years ago I have a relatively low number of credit lines with only a few years of history which made it trickier to get the mortgage with a credit score of ~710. With the credit card debt it's now around 670 although I'm paying it down to bring it up. I applied to Chase and Wells who both rejected me a couple of months ago based on the credit score.

The house is worth about $1.1M with $600k mortgage outstanding, income is high and I'm only looking for around $60k HELOC.

I might try my luck again with Chase/Wells after my credit card balances are a bit lower, but any other recommendations? Especially for HELOC providers that are a bit more lenient on the credit score side of things?

Cheers!

Hey folks,

First of all thanks for this incredible resource and forum, it has been very helpful in getting me to this point. 

My situation is that I am a motivated buyer in a deeply competitive market looking for deals outside of the MLS. I've found a few leads and am figuring out how to craft my initial outreach by email or letter.

One big question I have is should I disclose my budget or any numbers in that initial contact? On one hand I feel that including a number might grab their attention more, and if they're truly motivated might lead them to pick up the phone. On other hand if I low-ball them too much it could be off-putting and if I disclose my actual range, I might lose power to get a good deal in any potential negotiation.

Any tips or advice on this topic?

Thanks so much!

Francis