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Updated almost 4 years ago, 03/01/2021
New to Ventura County
Hello!
My name is Seth Dailey and my family and I just moved to Ventura, CA. I’m looking to connect with like minded people - those passionate about real estate and with solid integrity. I’ve got a background in real estate as a SF buy and hold investor, licensed broker, licensed home inspector, and also worked in the trades, and am currently working on getting my first small apartment under contract in the Midwest. I’m wanting to build community and connections locally as well - Ventura and also from Santa Barbara to Ojai to Oxnard, etc.
Let me know if you’d like to connect and a drink or lunch is on me!
-Seth
Hi everyone, I may be moving to Ventura/Oxnard/Camarillo in July (Moving for a job in Ventura) and would like to connect with like minded individuals. I've been learning about real estate investing for about 2 years. I am currently based in LA, have 1 rental property in Bakersfield that closed in November 2020, going through some growing pains dealing with section 8 tenants (learning experience). My plan is to acquire at least 1 property per year. But due to the potential move, I am very tempted to explore house hacking in Ventura/Oxnard/Camarillo as an opportunity. Just want to get you guys thoughts on which location I listed maybe the best for that strategy.
Hey Erik, congrats on your first investment property! Sorry to hear you’re having some tenant issues. Hopefully that situation resolves itself quickly.
What type of house hacking are you interested in? Separate units only or would you consider living with roommates? Your answer to that question, your location preferences, and your down payment/budget should all make the decision fairly straightforward.
I house hack myself and know many others that do it in this area as well. Would be happy to connect and share some insight if that would be helpful. Feel free to reach out anytime.
-Adam
@Erik Tsou - This is my two cents for free!
What I know of the Ventura County area is that multifamily type homes are far and few between (at least on the MLS - maybe off-market is different).
The other thing that's true for me and my current money/strategy is that the deals in Ventura County are outside of the "residential" investment property realm. The median home price in Oxnard is $820,000!! Tough to make that kind of a deal cashflow. Not impossible, but tough.
As far as the house hacking I've seen in Ventura County, the best way I've seen it done (I speak from witnessing this thing, not personal experience) is to have roommates. If you are comfortable with roommates, you can definitely buy down your personal out of pocket expenses.
Good luck and Welcome to Ventura County!
Clayton
Originally posted by @Adam Reynolds:
Hey Erik, congrats on your first investment property! Sorry to hear you’re having some tenant issues. Hopefully that situation resolves itself quickly.
What type of house hacking are you interested in? Separate units only or would you consider living with roommates? Your answer to that question, your location preferences, and your down payment/budget should all make the decision fairly straightforward.
I house hack myself and know many others that do it in this area as well. Would be happy to connect and share some insight if that would be helpful. Feel free to reach out anytime.
-Adam
Thanks for the reply! My plan is still up in the air as I will be interviewing this coming week for the position. Location should be no more than 20 minutes away from Ventura since I don't want to drive too much. Budget, currently saving, but seeing if I do get the job, I won't start till after July, I think I'll be looking at realistically 600-900k property with 10% down. Here are couple ways I can see this work:
1) Duplex where I live in one unit and rent the other. (Low likelihood but I best convenience)
2) Buy a single family home on large lot that I can add ADU. I am not looking for those already remodeled SFH, plan to get something that is kind of beat up...but still able to get a loan on. For this case...if the layout of the home is great to build an ADU then it will work. I don't have to necessarily house-hack from the get go. The plan will then be build an ADU, and refinance later.
3) Roomates...I don't really want roommates
Hey Josh here from down the road in Thousand Oaks. Happy to connect with you and talk teal estate!
@Seth Dailey
Welcome to Ventura County! I’m a newbie, interested in out of state investing, would be great to talk!
Even without wanting roommates, there are definitely options for you @Erik Tsou. I am constantly scanning the market for potential house hacks for clients and for myself. Ventura has a lot of homes with detached garages that often make for great ADU conversions. There are also specific homes that have great layouts to convert existing living space into a separate dwelling with a private entrance. Great ROI on both of these options. DM'ing you now.
In Camarillo and would love to connect and meet in person