All Forum Posts by: Kenneth Donaghy

@Abhi Kotti anytime! Good to hear it's working out. I remember talking to you last year. Reach out anytime, last year I helped a couple new grads by there first househack, one before they started working, the other a few months after starting their first job out of college. You on the right path. Keep up the good work! 

I have sold a few in Otay Ranch, one to a househacker, two others to investors. Appreciation is also strong in Otay, Rents are solid. They is more plans for further development. It's a commuter suburb. A couple expenses to keep in mind 1) toll road if you choose to use it, which you will. 2) Mello-Roos an extra tax for newer developments that helps pay for the infrastructure, and services such as schools, fire, etc. Which helps for schools to rack higher, combine with a more reasonable price point, close enough to town and military bases, newer builds it makes it desirable for many. 

It's a good question, yet would depend on your goals and finances to give you a better answer. How much of a down payment do you currently have for a MF househack? Do you need the equity of the condo for the down payment? To refi the condo to pull money out will you have the cash flow to cover the condo? Is a break even condo an asset worth holding, or us a larger asset make more sense for you? 

@Wasam Hawari to answer your question, yes its possible, to tell you what areas to start looking, I would prefer to know your budget and lifestyle first. 

@Sam K.

- 1st Speak with your agent and have them speak with the listing agent. Have them ask the Seller his thoughts on how the tenants will take the news. Based on the Seller feedback, ask if he would initiate the process. 

- If not at COE then you have the same transparent conversation with the tenants.

- You can choose to suggest a cash-4-keys scenario from the beginning or when you get push back. I suggest get to know the tenants situation, then do what feels to be the right thing to do.

@Shaquille Shaw Yes, that is a good idea! It's a great way to start. 

@Philip Lorge Welcome! Great strategies! 

Welcome @Ajay Patel. Let me know if you have any questions about the San Diego market. I also know a little about the Fresno market. You're making progress!

@John Lee. you're on the right path! This past week two of my active duty military house-hacking clients opened escrow on their first househack. One a 3 unit property, the other a 4 bed 3 bath where one of the bedrooms can be converted to a one bedroom apartment. It's a great opportunity to get started in real estate, and utilize the the VA loan. Best!

Well I feel I should update my first post on the thread. Offer #3, the seller came back to us after the first buyer they chose cancelled. So my active duty client is under contract for a 4 bed / 3 bath househack with one of the rooms convertible into a large 1 bedroom unit with own entrance, under 600K. That's 3 VA offers under contract in one week in San Diego.