All Forum Posts by: Jon Khalil

@Ali Boone Thank you so much for your input. That was very helpful! Ill be looking over these articles, and use the advice you've given me in this post. I had forgotten that at the end of the day, it really is all about the numbers. 

As a newbie, I'm still trying to find my niche in the RE Investing world, and house hacking was my number one option because i felt that it was the most practical. Ive looked into wholesaling, and flipping, and buy and hold real estate as well. 

Once again i just want to say thank you again for the reply Ali, it truly has given me the guidance to make the best financially sound decision for me and the future. 

@Taylar Caraway Thanks for the help and extra ideas. Definitely something to think about! 

@Travis Rasmussen I will be a student for just one more year, and i have saved up over $12,000 so far. 

@Whitney T Redfield thank you for the advice. Ill be doing more research for sure. Seems that investing out of state at this point is probably my best option to receive some positive cash flow. Ill be saving up, and hopefully within the next year or so prices start to go down so that I can afford a house hack here in CA... 

@Andy Cracchiolo Thank you for the reply! I appreciate how in depth it was with the math. Ill have to look into doing that. My pre-approval was based on an FHA loan which I do plan to utilize in this sort of deal. I will certainly conduct more due diligence with a deal like what you described above. Investing out of state is also another big thing I have looked into, but most of my research has led me to believe that 1) you need to know the market, and 2) you need to have boots on the ground. Ive looked at a lot of places in the midwest and could more likely purchase a SFR or Duplex, and get it cash flowing but that would be with a conventional loan of 20%, because FHA requires you to live in the property for at least 12 months, and I couldn't make a move like that at this time.

@Joshua Hively Thank you for responding to my post! I understand that SFR is also an option to House Hack, most of my research has been done on multi-family. I feel like the big difference is living with roommates, as opposed to a duplex where even though you live next to the tenant, you still have the convenience of living in your own home. Regardless, I'm certainly open to SFR house hacking, just need to find a house thats within my budget.

Thank you 

@Aaron K.! I truly appreciate your honesty. In your experience, what do you think would be the minimum amount to be pre-approved for in Orange County in order to House Hack? $350,000? $500,000? 

Hello BP!

Im having some trouble with House Hacking here in Orange County. I am currently looking for a duplex, and have been pre-approved for $250,000. However there is no Duplex for that amount of money anywhere in OC! Ive tried even looking for homes in LA, Long Beach, Anaheim, Riverside, and other areas but just can't seem to find a property that fits my criteria to House Hack.

My question is what should I do? Should I wait till the market goes down and stay patient till then? My situation is this. I am currently a full time student, and I do work a commission job that pays me well, but my living situation has changed dramatically because my Dad has moved to Temecula (far from where i work and go to school) and I cant live with my mom.

The reason I want to house hack is because i feel that is much more financially sound to do so rather than just blow money on renting an apartment every month. But am I wrong? Is it better for me to rent short term, save, and then house hack later in the long term? I need some advice, and if anyone is House Hacking here in OC please tell me how you did it! 

Hello BP! 

Im having some trouble with House Hacking here in Orange County. I am currently looking for a duplex, and have been pre-approved for $250,000. However there is no Duplex for that amount of money anywhere in OC! Ive tried even looking for homes in LA, Long Beach, Anaheim, Riverside, and other areas but just can't seem to find a property that fits my criteria to House Hack. 

My question is what should I do? Should I wait till the market goes down and stay patient till then? My situation is this. I am currently a full time student, and I do work a commission job that pays me well, but my living situation has changed dramatically because my Dad has moved to Temecula (far from where i work and go to school) and I cant live with my mom. 

The reason I want to house hack is because i feel that is much more financially sound to do so rather than just blow money on renting an apartment every month. But am I wrong? Is it better for me to rent short term, save, and then house hack later in the long term? I need some advice, and if anyone is House Hacking here in OC please tell me how you did it!