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Updated about 1 year ago on . Most recent reply

User Stats

50
Posts
43
Votes
Vivan Bhalla
  • Developer
  • Newport, NJ
43
Votes |
50
Posts

Confused between house hacking in LA or Philly

Vivan Bhalla
  • Developer
  • Newport, NJ
Posted

Hi,

I have finally decided to invest in a house hacking strategy and have two options, I am very confused between both and would love to get some opinion from folks here

1. Philadelphia, Penn 


Pros: 

1. Good numbers- I will be essentially able to live for free by renting out the units and eventually cash flow when i move out

2. Cheaper- The houses in Philly are almost half or less than LA and you get more value for your buck. This will essentially mean that I will have less stress on my pocket

3. Closer - I live in NYC and Philly is closer to me.

4. Economy: Philly has better schools, a better financial sector and job sector than LA (I am guessing but would like some opinion)

Cons:

1. Less Appreciation - 
LA in general has more appreciation and more equity buildup than Philly

2. Weather - LA has a way better weather than Philly. I hate the weather in eat coast and will have to tolerate it for a year or two until I live there.

3. Lack of people I know - I know more people in LA than Philly, basically more people to help me if something comes up. I consider this a factor because eventually if I move out of the country then I would have trusted people around.


2. Los Angeles, CA

Pros:

1. Weather - No description needed haha

2. Better apprecation

3. More friends/known people

4. Economy might be better?

Cons:

1. Super expensive - this is the only major deciding factor, if the house is vacant even for a month or two, I will loose a lot of money

2. No cashflow - It is impossible to make it cash flow or even break even. 

Any comments and help appreciated from folks.

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