@Hannah Noble I second @Jacob Repreza's thought. I am also a new investor in the Orange County area, specifically in Fullerton where there are a decent amount of duplexes. My wife and I spent a lot of time over the last year trying to figure out how to make the house-hack work for us. We ended up buying a place with an extra bedroom we plan on renting out.
I think we had to come to terms with the fact that the "traditional" ideal house hack that you hear about a lot on the podcasts, where your tenant "completely pays for your rent and then some" isn't as realistic in our market. The prices for any multifamily properties are just too high, and for most newbies like us, we don't have the capital for high enough down payment.
However, I think a "non-traditional" house hack can be just as beneficial of an investment if you want to get your feet wet in real estate before you feel comfortable to move OOS where the positive cash flow markets are. By "non-traditional" I just mean renting out a room or 2 to roommates. While this might not completely eliminate your rent, your still teaming up with some one else to essentially help pay your mortgage for you, while you continue to save for other investment opportunities. That way you're putting money into an investment, and you get the experience purchasing a property, working with agents, contractors, lenders, etc. So maybe instead of looking for a duplex, you could find a 2 or 3 bedroom home. Just a thought
Sorry for the long post, I know our market can be tough! But as they say on the podcast often, there are so many ways to find success in real estate, you just have to find the right path for you.
