The concept of house hack make sense, however, what are the pros and cons of house hack a rent control property? Any Suggestions?
Rent control does not cover units three or fewer-unit buildings where the landlord resides in the building and has occupied one of the units as his/her principal residence for at least a year. Vacant buildings are great though tend to come at a premium (though there are a few on the market right now that I really like). Buildings with tenants paying below-market rents are often a bit more affordable. Beyond whether the building has tenants, there are great tax benefits to buying a multi-family property. Even if a property is cash-flow neutral, depreciation and interest should put some money in your pocket.
Talk to @Saj S. , he knows all the Oakland specific angles.
I think the city has extended the owner occupancy period to two years for rental control exemption.
Okay . Thank you Tommy. Do you know which website you can get more information about landlording the rent control units in oakland?
Thank you Tommy.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing