House Hacking Expensive Markets

[Corey Lyons]

Hey guys!

Long time lurker, first time poster!

I live in Ventura, Ca and the market is through the roof like most other markets. The rent i currently pay is WAY more than id like to and i would like to get started on my real estate investment journey, perfect timing right!? 

Not too fast... When running the numbers on houses in the local area the numbers don't ever seem to line up for a sound rental/house hack investment. The 1% rule never seems to apply, i've found a few that cash flow but they are still way off the 1% rule. What do you recommend i do?

1. loosen up my parameters a bit when it comes to numbers.

2. Wait for the market to settle a bit.

3. completely switch up my strategy.

4. Something else.

PS: my main reasoning for wanting to house hack as my first strategy is im cash poor but i'm active duty so i have a VA loan in my resources. I have zero debt and great credit just not alot of reserves. So i'd prefer to property manage myself to reduce expenses and handle repairs at the lowest level because im extremely handy.

Any input is greatly appreciated.

-Corey