House Hacking in San Diego
Hi all,
I'm an LA based agent planning on moving back to San Diego this summer, and eager to buy my first property to house hack. Ideally I'd love to buy a duplex that needs some work, but I'm finding that most of the active listings are fully tenant occupied. I would not want to kick someone out in order for me to move in - wondering if there are any creative strategies you've used in the past to avoid this?
Most Popular Reply
Price point is around 800k and up depending on the area. You may be able to find something for less. Everything is extremely competitive in San Diego but 100% tenant occupied that need a lot of work may stay on the market longer. You could try cash for keys as an incentive (on top of the 1 month rent that is already required) or if you plan to do a major rehab (one of the allowable "just causes" for eviction) and have it vacant, you could offer the tenant the first chance to rent it back - at the new and improved price, of course. I took another read through the Rent Cap and Just cause addendum form and I noticed that if you are using one side of a duplex as your primary residence at the time a tenant enters into a new lease on the other unit, you are actually exempt from the law.. That could be a benefit for you.. Here's a good FAQ on the RCJC on CAR - you may have already seen.. https://www.car.org/riskmanagement/qa/landlord-tenant-folder/Rent-Cap-and-Just-Cause-Eviction-Law---Rent-Control---AB-1482#V.#V.##