Off Market Deals in Orange County, CA

[Peter Mai]

Anyone have tips on how to find off market deals in Orange County? I want to house hack using a FHA + build ADU strategy as my first home/investment property. I can't find any properties that will get me to cash flow upon completion of an ADU unit and renting out both units (after 1 yr occupancy requirement). At best I am calculating break even cash flows based upon CRMLS, Redfin, and Zillow listings.

[Matthew Forrest]

@Peter Mai

Unfortunate I don't know how to get access to off-market deal in OC other than you cold calling and sending letters (that's what I am doing in Torrance), but you might want to look around the forums for a wholesaler.

If you can't find a property to purchase under market valve, you might want to take a look at lowering your post acquisition costs. I look for properties that have existing space that is underutilized and not permitted to be habitable (in-law suite, granny flat, bonus room, hobby rooms, pool house). For my specific property I took a 700 sqft "hobby room" and converted it to an ADU for ~$50,000, which is significantly less than than a new build. This lowers the amount of capital required for the property and lowers your monthly PITI payment. Good luck searching!