RE Investing Start 2024 (Househacking San Diego)

[Pedro Ferreira]

Hello (aspiring) investors. 

My name is Pedro Ferreira, a 19 year old university student and junior commercial agent currently working on getting his license. My goal for 2024 is to begin my real estate investing journey through househacking and am looking for properties within the greater San Diego area.

I am open to connect with anyone and am a sponge to all. 

Any input is welcome and I guarantee I will not be a waste of your time.

Pedro Ferreira

[Carlos Valencia]

Hi Pedro, 

House Hacking is the best way to begin as long your flexible on where you sleep. You can even just sleep in the living room to get as much rental income as possible. the great thing is that you can get in with as little money as possible anywhere from 3.5% -5% down payment. The next thing is to make sure you can qualify for the full mortgage taxes and insurance. Even tho you plan on house hacking you will not be able to use the rental income from the other bedrooms in the house to qualify assuming your buying a single family. Now if you buy a 2-4 units then yes you can use the other units rents as qualifying income. Lastly just make sure your credit is in the 740 or above to save a little more on the rate. Figure out how much income you will need first to buy something in San Diego area. Then start planning. While your looking you can also see if you can get a single family with a big enough lot to add an ADU (accessory dwelling unit) to add value as well to your property. Also check your county to see if you can even add and ADU.

@Albert Bui @Matthew Kwan