Condo House Hacking in OC

[Jonathan K.]

Hello All, 

I'm really trying to kick off real estate investing and at every turn, there always seems to be something stopping me. Right now it's this looming "prices are going to crash, mass eviction" hysteria. I need to move out of my current housing situation and don't want to rent. California is so expensive so house hacking seems like the move. Does anyone have any experience in condo house hacking? Any pros, cons, or just advice in general? Should I rent till I find a deal that makes sense or just get something and start building equity. All feedback is appreciated. 

[Gregory Murphy]

Hey Jonathan,

Bryan gave some good advice. However, I would not be worried about a massive housing crash. There is a massive under supply of housing backed by a big demand. It is possible that we will see the housing market steady out, but a massive crash is not likely. I would focus on the long term, 10+ years out, and focus on how much equity you could gain throughout that time. Even if the market does dip in the short run, it would not effect you if your plan was to hold your condo long term. 

For the question on whether you should wait or not, If you find a condo that works good for you, I would go for it. However, don't just buy something to buy something. Hope this helps, feel free to reach out if you need any help or have any other questions.