All Forum Posts by: Nicholas Coulter

Hey @Raymond Warthen ever thought of a house hack in that area? There is a drastic supply shortage for rentals and housing to buy! I have a friend that lives out there and says its very hard to find something to rent out! You could get a multi family and rent out the spare units while you build out your team!

@Andre Houston Man great work on your portfolio! Did you house hack these to continue to save up to buy the next?

@Marcos Carbi I think its always a great time to buy a cash flowing asset with upside potential! Rent typically doesn't drop in a recession and where you are investing has a shortage of available homes to purchase and rent!

@Jayden Melo My wife and I started with a rent by the room for the first 2 years and now we are looking to do the same! We are looking for a 1.5 million dollar multi unit in San Diego! If the numbers pencil out and you have multiple exit strategies it could work very well! Make sure to do deep due diligence!

I am in a rent by the room house hack in Southern California and I have been able to completely cover my mortgage for the last 2 years! I bought a single family 4 bd 2 ba house. Live in the master with my wife and rent the 3 spare rooms out to break even. Since owning the home we have saved all the rent to roll into anther house hack in San Diego that will use air bnb to help cover the mortgage!

Best financial move we have ever made!

Quote from @Edward R McDonald:

Investment Info:

Condo buy & hold investment.

Purchase price: $250,000
Cash invested: $5,000
Sale price: $250,000

4/4 Townhome/Condo style home. Rent out two rooms. Airbnb the 4th. Househack the 1st.

What made you interested in investing in this type of deal?

Bigger Pocket podcasts and military benefits with the VA loan.

How did you find this deal and how did you negotiate it?

Using Zillow and negotiating went through my RE Agent.

How did you finance this deal?

VA loan.

How did you add value to the deal?

New appliances and paint so far.

What was the outcome?

Bought the home for $250k and it appraised for $255k!

Lessons learned? Challenges?

There's no such thing as "zero-down" when buying a home. Closing costs and fees alone cost me about $5k.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Greg Schwartz with Keller Williams LLC!
Highly Recommend!!!

 This is awesome! Any idea the amount you’ll be paying out of pocket for the mortgage?

@Marco Pangilinan There is a way to get around this! If you are a primary resident and renting out the units you are not in while living on the property you get a permit outside of the 1%. I am looking to land a small multi to do that exact thing in san diego!

@Mike Keyser Its a great market! We should connect more about the things I have seen go well and the ones I have seen not go so well!

@Steven Wolfson Love to hear the investing getting done in So Cal! I am in the inland empire and I am working on rent by the room strategy through SF and small multi. It is showing a way higher return as we continue to see rent increases in the rental market!

Let me know if I can ever help!

@Mike Keyser Welcome to BP! I am a current investor in Redlands Ca. What is your current location in So cal?