All Forum Posts by: Oli Cimet

yes we currently rent in Alameda, and ideally would love to house hack in our area, seems like we will most likely pay rent since duplexes are hard to find and above 1million.. I will keep looking in Alameda, it would be terrific to house hack here, ideally a duplex or triplex, and then even if we pay rent at least it goes into equitty! 
I just said oakland cause seems like 500k is doable there compare to alameda but not sure if Oakland will appreciate? Seems like the houses I checked lost in value the last couple of years.. thanks for adding the conversation! 

@Oli Cimet

It's fantastic that you're looking into possibilities in the Bay Area, as house hacking can be a really successful tactic. When deciding between investing out of state vs home hacking in Oakland, keep the following in mind.

Oakland House Hacking:

Proximity: Living in Oakland while house hacking enables you to maintain a close proximity to San Francisco, which might prove advantageous for property management and maintaining connections with the local market.

Possibility of Appreciation: Property values in the Bay Area have increased historically, which is good for accumulating equity over time.

Local market dynamics, tenant preferences, and potential obstacles might be simpler to comprehend when one is in a familiar location.

Demand for Rentals: Oakland has a robust rental market, and you can discover good demand for rental units if you pick the appropriate property and location.

Creating Local Connections: If you live in the Bay Area, house hacking can assist you in making local contacts with property managers, real estate agents, and other investors.

Investing Out of State:

Investing outside of your state may be more affordable and enable you to use the same funds to buy more than one property.

A few out-of-state markets can have more favorable cash flow prospects in contrast to the pricey Bay Area market.

Geographic diversity, which can help reduce risks related to market-specific variations, is made possible by investing in a variety of markets.

Hiring a local property management business, which offers a more hands-off approach to property management, is often necessary for out-of-state investments.

Remember, both options have their advantages and challenges. It's crucial to align your investment strategy with your personal goals and risk tolerance. Consulting with a local real estate advisor or financial planner can provide personalized insights based on your specific situation. 

Good luck with your real estate investment journey!