Sunnyvale, CA · Member since 2017 · 7 posts · 0 votes
Hi everyone,
I live in Sunnyvale, but got a job in Walnut Creek, CA. I’m looking to move to somewhere near by the area and buy my first home. I’m single, so I’m thinking of buy a house and share a room with other people.
Does anyone have any suggestions for a safe place to live with not too expensive homes? I open with any type of homes (mobile homes, condo, SFH, or MFH).
I searched online and found Concord, Vallejo, Pittsburgh, Antioch, and Clayton. Is any of these cities safe and can be a good rental?
@Account Closed - I've been looking in the Bay Area for quite some time and it's very difficult. Not only are the MFH homes today tenant-occupied, but tenants are paying way below market rent which makes it hard for a buyer who is using an FHA loan. Banks will never approve this. Unless you find a MFH that's COMPLETELY vacant (which is hard to find), it seems like you're out of luck. Please tell me if i'm wrong here...
You aren't trying hard enough. I just bought a vacant 4plex in Oakland a year ago, for $480K, on MLS! I now rent it for $8600/month, and my PITI is $2650. After all expenses, I am cash flowing more than $5000/month.
I was the only offer! And I paid $5K over the asking price ($475k).
There are deals out there. You just gotta find them.
Regarding occupied properties, banks don't care about the current rental income (unless you don't make enough W-2 to qualify). You can ask the seller to get one unit vacant prior to close. There are many methods to do this.
All I hear are excuses. The only person to blame is yourself.