Hello From Ventura County, California!

[Kimberly S.]

Hi everyone, I'm Kim.  I finally decided to stop lurking and to introduce myself.  I'm an engineer by trade currently living and working in Ventura County, CA.  I've been in the area for about four years and have really enjoyed all the hiking and biking in the area.  I am a very hands-on sort of person and spend most of my free time tinkering with projects. 

In late 2015 I started seriously looking to buy property, but after looking around a bit, ultimately decided to build up my reserves a bit more before embarking on such an adventure.  I initially wanted to purchase a MFH and live in one side and rent out the other, however I was discouraged from doing so by both the realtor I was working with and the people in my immediate sphere of influence (mostly quality of life concerns--they're still appalled I live in such a tiny apartment by choice :)  ).  

Ultimately, I still like the house hacking plan, but I am not sure as to the feasibility of this plan in California.  I'm hoping to meet some positive, knowledgeable folks on here so I can learn as much as I can for the future.  Anyways, nice to meet you all!

[Santiago Almaguer]

Hey Kimberly, i live down in Oxnard own a few multi unit properties but am familiar with the ventura area as well (slightly more expensive). First off i agree with the previous poster, bail on that realtor. Looking back on 2015 there was so many good cash flowing places to buy compared to now. The market is very dry here currently in my opinion, and what is available is too high even compared to the end of the year last year. I closed escrow end of the year on a 3 unit apartment building each unit 1 bed / 1 bath, touched up nicely less than a quarter mile from the beach in hueneme for $480K. I'm renting all 3 for combined $4650 in rents with my payment being $2400. This is with the listing agent saying i would only be able to rent each unit for $1000-1100 which i knew was crazy talk. the rent market out here in ventura county is crazy. oxnard vacancy is less than 1% and i don't think sellers or realtors realize it. Now i don't see any deals like that currently and i don't know where you prefer to live either but there is some stuff i see on the market you'd easily be able to get into depending on your budget and make some money or cover almost your whole mortgage living in one renting the other. I don't have tons in reserves but i always find a way if i focus in on a property that i want. Although in ventura county its hard for the flip unless you have $300k sitting in your account.

Example, there was a beat up house that was $200k (would appraise for $425k easy in livable shape) and the seller wanted to sell it with the empty lot located next door for 300k. Both were zoned commercial and the street had another 6 empty lots as well. Well they got tons of offers even over asking price turns out the guy that's buying the house and the empty lot is actually buying the 6 empty lots as well! That's how he swayed the deal in his favor. My point is, in the buy and flip scene over here, the good deals never go unnoticed. But in the buy and hold there is money to be made because the rent market is so hot out here.