House hack in Southern California

[Ron Atienza]

Hi everyone! I'm Ron. New to REI. I live in Southern California and wanted to get your opinion on house hacking here in Orange County, CA. I was looking at triplex's and 4-plex's in Santa Ana. I wanted to do an FHA loan and live in one of the places for a year. Prices that I've seen are around $800-$999k. Market rents are roughly $1600-2400 for 1-2br apts. if anyone is familiar with RE in this area that would def help out!

Thanks in advance!

Ron

[Joe Homs]

@Ron Atienza zoom in on your numbers more closely. You may find that they may not pencil out. Since you are going to live in one of the units and are getting an FHA loan that is fine to start with, but what happens after you move in a year? Does the property still pencil out? If not then you will be paying money every month for your tenants to live in their units. Again, do your numbers.

Good Investing...