First House Hack in Los Angeles

4 Replies

Looking to do my first house hack in Los Angeles area.  As most of you know it is ridiculously expensive.  Would it be a bad idea to do a first house hack on a foreclosed home if the right research is done? (mainly due to cost in the areas I would like to purchase)

Not at all. I purchased one in 2011. No issues. You just need to make sure you get a good inspection, so you know what you are dealing with, since they are usually sold "as-is". Often if a buyer can't pay the mortgage, they are not keeping up with the maintenance either.

Originally posted by @Rick Leach :

Looking to do my first house hack in Los Angeles area.  As most of you know it is ridiculously expensive.  Would it be a bad idea to do a first house hack on a foreclosed home if the right research is done? (mainly due to cost in the areas I would like to purchase)

Rick, what are you doing in healthcare with a headshot like that??? 

But seriously...

Where are you going to do your foreclosure research? Are you using Zillow? Another service?

Thank you @Jonathan Schwartz for the reply.  I haven't done the research yet but was thinking to use Zillow.  I am trying to get an idea of how to narrow my search for the first investment.  

Originally posted by @Rick Leach :

Thank you @Jonathan Schwartz for the reply.  I haven't done the research yet but was thinking to use Zillow.  I am trying to get an idea of how to narrow my search for the first investment.  

I have never gone this route before BUT maybe also look for preforeclosures too. When I am ready to invest again I plan to look at those for myself. If you make an offer and it leaves them with some money in their pocket and no foreclosure on their record when they go to submit rental applications, it might be worth it to them. The worst they can do is say no. :-)