Debt Free and Analyzing Deals in San Jose & Sunnyvale, CA

[Desiree M.]

Hey Everyone!

I'm so honored to be a part of this community!

I have been "house hacking" in Sunnyvale, CA for over 4 years. I rent rooms mostly to professional interns for Google, LinkedIn, Stanford Hospital, Apple, NASA, and plenty other businesses. Airbnb and Craigslist have been more profitable for me than the others. I make enough to break even on all housing expenses and have a great EA tax guy who helped get money back at the end of the year.

In 2016/2017, I'm looking into Value Added investing either Flip or BRRRR.... San Jose is my alma mater, so I'll be looking to buy SFH or multi-family out there under FHA. Do you have experience in SJ with FHA? The FHA multi-family (2-4 units) are super resonable in the $1 million range.

Looking for a loan agent to help me with FHA for mutli-family in value added REI. Let me know if you have any recommendations?

Oh yea. And I paid off $18k in debt in 10 months. Curious how I did it? 

Well, that's me in a nut shell. Say hey and I'm super excited to talk with more South Bay Area California folks!

-Desiree 

[Chris Mason]

@Desiree M. @Michael Rojas all three of us can meet up together, if you wish.

Desiree, one thing you will encounter relates to the most common type of mortgage fraud -- saying you intend to move in, and then not moving in, and renting it out instead. As someone that already owns multiple properties, you've basically got to be ready to "prove your innocence," that you never bought a property as a primary residence, and failed to move in, without very good reason. Not huge, but you may have to dig through emails/paperwork from years ago.

The underwriter is going to know that you're thinking of it as an investment in part, but she needs to be able to cover her butt and thoroughly be able to document that she did everything possible to confirm that your intent to move in is likely to line up with your actual actions, post-close.