Market Research and Funding

[Audric Ma]

Hello! I am looking to house hack, but I am having issues finding the right markets in Northern California that have good population growth or at least a market that has a steady stream of tenants. I am mainly looking for single-family homes, but I am open to other options as well. For reference, I currently live in San Francisco, CA, and am willing to relocate anywhere if the opportunity is right, but preferably would love to find something up in NorCal.

I am a military veteran, but I am currently unemployed to go to college using my GI Bill as a source of income. I am also waiting on my VA disability which will act as another source of income while allowing me to qualify for the VA loan, yet that is a wild card option. Will it be difficult for me to secure any type of mortgage loan or will I have to find an investor? I have a credit score around the mid-700s, a pool of savings of $50,000, and no debt. I live comfortably and have never faced financial struggles.

What are my options for finding the right market and potentially securing a deal in this situation?

[Jordan Ray]

Quote from @Audric Ma:

Hello! I am looking to house hack, but I am having issues finding the right markets in Northern California that have good population growth or at least a market that has a steady stream of tenants. I am mainly looking for single-family homes, but I am open to other options as well. For reference, I currently live in San Francisco, CA, and am willing to relocate anywhere if the opportunity is right, but preferably would love to find something up in NorCal.

I am a military veteran, but I am currently unemployed to go to college using my GI Bill as a source of income. I am also waiting on my VA disability which will act as another source of income while allowing me to qualify for the VA loan, yet that is a wild card option. Will it be difficult for me to secure any type of mortgage loan or will I have to find an investor? I have a credit score around the mid-700s, a pool of savings of $50,000, and no debt. I live comfortably and have never faced financial struggles.

What are my options for finding the right market and potentially securing a deal in this situation?

Hey Audric! Thank you for your military service! I also am military and still serve in the TN Army National Guard at the rank of Staff Sergeant and have been serving for 8 years with 1 deployment overseas. Lucky for you, I am knowledgable on military & investor related topics and its cool that this is a hybrid question. As far as your VA loan goes, I do think you will need to have a steady source of income on a W2 for at least 6 months right now or 2 years tax returns if your an entrepreneur.. unless you can manage to get your disability rating then you might qualify just based off your awards letter. On the topic of your house hack, it will make the most sense to house-hack with a duplex, triplex, or a quadplex as it might be more difficult to explain to a VA lender that you will be house hacking (Sharing or renting out rooms) on a VA loan with a SFH. Memphis might be a great market for you to try out a house hack because it has plenty of multi family properties that are move-in ready between $100K-$200k. Let me know if I can help you in this market and let me know if you would like my VA lender contact, talk soon!