All Forum Posts by: Daniel Gima

@Matthew Forrest most definitely, very difficult to find something traditional that will cashflow. 

From a practical standpoint, I just need a place to live that won't hurt my ability to invest out of state in the near future. I have also been looking at a condo unit or SFH in nearby neighborhoods... and trying to figure out what would work best. Thanks again for the insight!

@Greg San Martin thank you for the insights into unpermitted ADUs, I will definitely do more research for my local market!

@Matthew Forrest o wow! Thats awesome! My girlfriends sister and her husband also purchased in North Torrance as well. Thats good to hear!.. its so expensive though. Thank you for the insight!

@Rob Massopust yes planning on living there. That is a good point! Sounds like I will need to run the numbers with both scenarios.

O! I had not thought about that before. That sounds like a really good option to get my feet wet and get some experience with less risk! Thank you for the insight! 

Maybe for now I need to research SFH that would work for STR and have the potential for an ADU later (once I build equity and additional savings). And perhaps it might be smart to stick to the edges of Torrance or surrounding cities that are more affordable. Thanks for all of the help and wisdom! Definitely loving this community!

@Blake Edwards thank you for the encouragement and advice. The article was helpful and it sounds like preparation and research are key as well as drive and determination. Thanks again! 

@Dan H. yes, I had seen that due to the CA housing shortage, adu's seem to be more common. 

Thank you for that info! Especially since I am brand new, I really want to be smart about how I get into REI. At this point, I'm still trying to figure out entry strategy. I need to live somewhere, but don't want to burn capital that could be used to invest in better locations or with different strategies. Thanks again!

@Ryan Riches thanks for the perspective! I think I'm leaning towards SFH for the same reasons! I think my main concern is making a bad first purchase that would cripple/slow my ability to invest in the future. Trying to plan ahead and figure out what my strategy should be. It seems like traditional house hacking in CA might not be feasible, especially since the locations it would work in are locations I can't/don't want to live.

@Erin Spradlin thanks for the input, I think it confirms some of the other things I have been seeing online at at BP. I really appreciate the feedback and perspective!

@Rob Massopust thank you for the valuable insight! Initially my gf and I wanted to be in Torrance because of her family and the school district, but it might make more sense to start outside (esp. if I am interested in REI)

I totally agree with you. Right now I think a big challenge is going to be finding a multifamily where the math works, especially considering I don't have a huge amount of money for a downpayment and no equity. 

I also want to keep things simple and maybe give myself more time to learn and build a network without shooting myself in the foot with my first purchase. Thanks so much for the perspective!

@Amit M. thank you for the insight! I don't think I have seen a whole lot of ADU's in west torrance (where my gf grew up) however like you mentioned, it will be very interesting to see what happens as ADUs become more common (esp in higher end neighborhoods) in fact I think I saw an article about it in the LA Times (Senate bill 50) that would allow for multifamily permits on formerly single family zoned residential land.. we'll see!

@Account Closed gotcha, sounds like lending will be a major issue to make sure I work out if I decide to go with the ADU route. I will definitely be on the lookout for a duplex with garage, I meet with a REA tomorrow. Thank you so much for the advice!

Hello! My name is Daniel and I love bigger pockets and have been  following the podcasts sporadically for the past few years. But besides that, I'm brand new to real estate!

I plan on moving to the Torrance, CA area and really liked the idea of house hacking. The market in Torrance is very expensive and there doesn't seem to be a whole lot of affordable duplexes available. I had also heard of people house hacking by converting an ADU on their property and renting it out.

What are some pros and cons of each for the purpose of house hacking and getting started in real estate?

Thanks in advance!!!

-Daniel