House-Hacking in Orange County! Anyone doing it?

[Stephen Tanquary]

Hey everyone,

I'm currently living in Orange County, CA (Fullerton more specifically) and, due to general CA market, it has always felt like out-of-state investing is the way to go. However, recently I've been wondering if house-hacking is an option in my area. 

Is anyone out there successfully house-hacking in Orange County? What are some factors that I need to take into consideration? Some of the deals I've analyzed lead me to believe that the numbers just don't work in my area (only way I'd be able to get into a home in CA is with an FHA) Any thoughts?

In addition, I'm feeling more inclined to house-hack before going out-of-state for my first property to get some hands on experience with the property management. Maybe some thoughts on that too?

Thanks! 

[Jason White]

@Stephen Tanquary

I don't have any OC house hacking experience, but with the new ADU laws there are a lot more options for the house hacking strategy. If you can get the right house in the right area and then convert the garage or build a new unit in the back yard, you could get around $2000/m from the back unit or $2500/m from the front and live in the new back unit. Not sure where in Fullerton you are but the neighborhood that spans from FULLERTON college all the way to cal state FULLERTON is a great option for this. I have two acquaintances that are doing that in the area. I'm a contractor in the area, so if you need any help in that arena I'm here for you.