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Updated over 4 years ago,
Move out of CA or stay in CA to do house hacking affordably?
I currently live in SF Bay Area as a renter. I'm feeling uncertain about my next real estate purchase to house hack. I can do either of 2 actions:
1. Buy a 3bed/2bath in a waterfront property in Benicia, CA & get 2 new roommates to pay off mortgage. No matter the property this definitely will negatively cash flow because this is SF Bay Area.
2. Buy a duplex to fourplex in Portland, OR or Vancouver, WA, save more by not paying any state taxes, & find a tenant for the other units. This has a greater chance of positively cash flowing.
If you can take your job to be fully remote full-time as a single person without kids, what would you do? I wouldn't buy a duplex anywhere in SF Bay Area because they start at $800k+, which is ridiculously high price point. If you've moved out of CA in order to buy more affordable real estate in Pacific NW or TX or literally anywhere that's NOT a HCOL coastal city, do you have any regrets on that decision?