Successful House Hack in Los Angeles?

[Shawn Pacaoan]

Hello All!

I'm new to the BiggerPockets community. I decided to join after listening to multiple podcast episodes. After listening to a few episodes, I immediately dove into learning about real estate investing by reading Rich Dad Poor Dad, multiple articles, browsing through the forums, completing the Ultimate Beginner's Guide to Real Estate Investing!, and more. I'm continually trying to grow and expand my knowledge on investing.

I live in Los Angeles and have been preparing myself for House Hacking. Due to a "Hot" / competitive market in Los Angeles - I'd like to hear the success stories of people House Hacking in Los Angeles. Where did you live? How big was the property? What type of loan did you use? Did you have a partnership? etc. 

In addition - if you have any tips, tricks,I'm happy to hear them.

[Lee Ripma]

@Shawn Pacaoan

Here is my house hacking success story: I rent an apartment in LA with rent control in a great area. I invest in both rentals in KC and various development projects in LA. I own a vacation rental in the mountains. I don’t confuse living in real estate with investing in real estate.

If I were to house hack in LA I would buy a SFH and either add and ADU or turn a potion of it into a separate living space. I would NOT buy a MF home in LA unless it was delivered vacant. The best move would be to buy a large house with lots of bedrooms and favorable zoning - then it would be more like a house hack land play.