All Forum Posts by: Max McNally

Hi there, looking to get my feet wet with house flipping in the Bay Area. I have some money to invest but mostly just looking to learn the process and get some experience. I have some experience with rentals but I'd like some more active projects. Anyone interested in partnering or even just showing me the ropes? I live in San Jose, but I'm willing to travel. Thanks!

Thanks @Chad Hale, I messaged them. 

I'm helping a friend do an eviction at one of his properties. He's considering cash for keys, I am trying to convince him to evict. How long does it take to get a court date if all notices have been filed (and ignored)?

Rooms near me (downtown San Jose) are around $850-1100. There are definitely some out there for less though. I'm guessing they're people who have owned their house for a long time and $500-750 is half their mortgage. 

@Chris Mason As a lender, have you seen anyone get a multifamily deal done with an FHA loan in the East Bay? I was told they don't typically get accepted since there are more stringent requirements, and sellers usually can get a better conventional offer. Any advice on making an FHA offer more competitive? Thanks for your expertise!

@Chris Mason That's a great way to look at it. Plus with the mortgage interest deduction vs renting you would be saving even more money.

Has anyone done a successful house hack in the Bay Area? I would like to try and do one as my next step, but the numbers don't seem to work anywhere. There are a few large houses in Vallejo that might work, but I would prefer a MFR. There are some 4plexes in Berkeley and Oakland, but between the high transfer taxes and rent control, the numbers just don't add up. I need to drive down to Mountain View three days a week, so it would need to be around an hour from there. I don't need to cash flow, but obviously that would be ideal. Thanks!

Thanks everyone! Sounds like the consensus is to spend the money, and get better tenants. I will do it, and keep you updated!

@Caleb Heimsoth Like I mentioned above, I have another property in Dayton with one bedrooms around $500 and the tenants there have been great. Even in the nicer areas of Dayton, a one bedroom would be maybe $750, so it's just not a super high cost of living area.