House Hacking in San Francisco Bay Area

[Alex Chau]

Hi All,

New to real estate investing, but love the idea of house hacking. An FHA loan limit for a 4 unit in that area is 1.2 million. I wanted to ask people from the bay area if it was still possible to house hack seeing as the prices are so high right now.

[Chris Mason]

Hi @Alex Chau,

The largest challenge you will face is getting your 3.5% FHA offer accepted when competing offers will be 25%+ down conventional for an open market MLS property. I've seen folks have success by basically acting like wholesalers -- get the property before it hits MLS. Drive/walk/call for dollars, call MFR landlords listing units for rent and offer to take the entire property off of their hands, that sort of thing.