House Hacking in the bay?

[Andrew McIntyre]

I recently started school in San Jose. As majority of you know, prices are extremely high here. Back when I was living in Wyoming I had the plan to house hack with an FHA loan in a 4-unit. Now that I'm in the bay and that I will possibly be employed in the San Jose/Mountain View area, I was wondering what other people have done to get their foot in the real estate investing market here. The only things I can think of is still doing an FHA loan on an SFH and renting out the other bedrooms or just continue renting and find a multifamily to invest in out of state. I figure with as expensive as the homes are here I would be looking at maybe around the same down payment. 3.5% in Cali vs 20% on an out of state.

[Matt Wood]

@Andrew McIntyre Here in Atlanta, we have a lot of investor clients in your situation who live in California that we help buy and manage properties for. It definitely takes an extra layer of communication and trust on both sides... if you invest out of state, make sure you get some client referrals and ask for pics/videos of your properties during turns and rehabs. It can certainly be done! Good luck with school in San Jose.