Need advice for investments in the Bay Area

[Bryan Pham]

Hello BP,

I been pondering the idea of doing a FHA loan for a house hack. Like most people, multifamily homes in the Bay Area are very much out of my price range. I was thinking about starting with a single family home using a FHA Loan, rent out the other room (I was looking at 2 BD, 2 BA properties in Fremont, CA around the 700-850k range). Hopefully secure a property with enough equity to use a home equality line of credit and buy a 2nd property in the area. Work the numbers to have the next tenants essentially pay for the mortgage. I been reading on a number of forums that this strategy in the Bay Area does not produce any cash flow. I am hoping if there's anyone on BP that can improve my vision and plan before I start to execute this idea.

Thanks so much, BP!