All Forum Posts by: Adam Reynolds

Sounds like a great deal! Nice work! Ventura STR laws not concerning? They're pretty prohibitive.

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.

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 sharing Marco! Yes, Ventura is definitely different than SB. I'm very familiar with both markets. I went to UCSB and lived downtown for 12 years before moving to Ventura 3 years ago. That said, ADU's are very valuable here as well and they are generally well worth the investment. Best ROI in Ventura/SB outside of house hacks or developments. Same rule applies to most coastal CA cities, I would speculate. Would love to connect and talk strategy. I'll shoot you a DM.

I personally believe that, in most cases, house hacking is the single best way to get started investing in real estate. You offset a large portion (if not all) of your living expenses while collecting rent from your tenants/roommates to pay down the principal on your mortgage. It works in every single market, albeit to varying degrees. And yes, Eric is right. There is an inverse relationship between the comfortability and the profitability of a house hack.

Hey Marco, huge congrats on your successful investment. I'm sure there are many of us here that would love to replicate your strategy. Would you mind sharing the numbers with us? How much did you originally purchase the property for? How large is the lot? How big is the ADU? How much did it cost to build? How long did that take? How much does it rent for (long-term or STR)? And what was the new appraised value at refi? What advice would you give to someone looking to do the same thing (pitfalls to watch out for, etc.)?

Would love to hear the nitty-gritty on this one. Thanks again for sharing!

Hi Amanda, I am an agent, investor, house hacker, and Airbnb Superhost here in Ventura. Are you looking to keep the three rentals? Have you considered selling them and 1031'ing them into something with better cash flow, like an out-of-state apartment complex? There are plenty of markets around the country with WAY better ROI's than what you'd find here. I've been investing in Kansas City and love it. Not sure what your living situation is, but purchasing a house hack could also help you achieve FI significantly faster. I'd be happy to connect if there's anything I can help with.

Hey Seth, welcome to Ventura! I am an agent, investor, house hacker, and beer lover in town and would love to connect with y’all as well. Lmk if the meetup happens, zoom or otherwise.

Second round is on me!

Hey Cody,

Welcome to BP! I’m an agent in Ventura and a long-distance RE investor in the Midwest. I was in your shoes a few short years ago and I’m up to 11 doors now. My wife and I also house hack in Ventura. Would be happy to connect and share my experience if you think that would be helpful. Always nice to meet fellow investors that live around here.

Local RE investor here. Looking for anyone that may have insight into whether or not the Coastal Commission is likely to uphold the STR regulations passed by the city of Oxnard in 2019. Particularly interested in the 100 maximum night per year rule and the 3 day minimum stay rule. As far as I can tell the CCC has sided with STR owners/operators in other beach communities within the coastal zone, but I'm certainly no expert in real estate law. Any relevant info would be greatly appreciated. Even just a referral for who I might contact regarding this issue would be greatly appreciated. Thanks in advance.

-Adam