All Forum Posts by: Jesus Magana

@Taylor L.
I agree with you. Honestly, I sometimes catch myself making excuses or finding ways to avoid taking action. Lately, this has been one of them. However, I've consciously decided that this won't stop me. I'm currently in the process of purchasing a 4-plex in Oakland. I'd love to hear some strategies you've encountered for dealing with cities that frequently implement rent moratoriums, especially like Oakland.

 

@Mason Hickman Oakland is very ADU friendly. I checked the local zoning regulation and I am good. Thanks for sparking the right direction.

@Dan H. The space is legal but the unit is not. Thanks for sending me the SB13 text via direct message. From what I read, this comes to me in the form of good news.  

@Mason Hickman agree with everything you said. I guess I have to figure out if these spaces can even be brought up to code, which is not my expertise. If you know of any articles/blogs/BP episode that do a great job of simplifying these requirement, please share! 👍🏼

@Angelou Masters I appreciate your reply. What are some of the expenses related to bringing a converted space up to code?

Hey Bigger Pockets Community,

Been looking for my first Oakland investment to house hack and I've came to realize that there are ALOT of single-family homes with illegal studio or illegal converted car garages/basement. From a REI point of view this is both promising and risky. On one end you have the potential for additional income and on the other hand you risk having to take everything down because it is not up to code. This home is in a C class neighborhood (Eastmont) and is almost 100 yrs old. I know this will limit my tenant pool, but from your perspective, is the risk worth the reward? From your experience, is it worth trying to bring these spaces up to code? How could I bring these spaces up to code?

Appreciate any guidance/insights here. Thank you all!

Jesus

Hey Bigger Pockets Community,

Been looking for my first Oakland investment to house hack and I've came to realize that there are ALOT of single-family homes with illegal studio or illegal converted car garages/basement. From a REI point of view this is both promising and risky. On one end you have the potential for additional income and on the other hand you risk having to take everything down because it is not up to code. This home is in a C class neighborhood (Eastmont) and is almost 100 yrs old. I know this will limit my tenant pool, but from your perspective, is the risk worth the reward? From your experience, is it worth trying to bring these spaces up to code? How could I bring these spaces up to code?

Appreciate any guidance/insights here. Thank you all!

Jesus

@Rachel H. Thanks for sharing your experience. This was helpful. 

@Stephen J Davis

Appreciate your response! Thank you @step

@Greg Szymbor

You gota risk it, to get the biscuit 😉

Hello Everyone,

I am a California, Bay Area (BA) native that is trying to get into real estate investing as soon as possible. I dont have much cash for a single home down payment in BA so I am considering purchasing a mobile home 2hrs away from me to rent out as my first investment. Do you guys thing this is a good move considering this will be my first investment or should I be patient and take advantage of the FHA loan and look for a duplex to get started?

Thanks in advance, I really appreciate your advice.

Jesus