I'm a SoCal investor and I buy out of state. Would be great to house hack but everything I've found I would pay more to house hack then to rent locally. SD is an appreciation market without much cash flow when you buy. However through time you get lots of appreciation and cash flow goes up (unless you bought in 2005). Folks will defend investing in SD and I get why. It's an awesome place to live and appreciation beats cash flow any day. I am more interested now that I have cash flow from my OOS property.
There is a normal heights triplex that might work, I considered it.
Think about Barrio Logan and Logan Heights, those are the neighborhoods that still have room to run, IMHO.
Where are you thinking in SD? You could house hack something like above, live in the front house and rent out rooms, then rent out the back two units. Still, you are looking at negative cash flow, especially if you use a low down payment loan.
Hey @Kevin Engler
House hacking is definitely a fantastic way to get started investing. My team and I would be more than happy to help. Please feel free to reach out at any time!
@Lee Ripma I'm running into the same problem. Thanks for sharing your perspective and property (not quite there but probably the closest to cash flowing I've seen yet). I'm not limiting myself to any specific area. If everything went as planned, I wouldn't be in the property for more than a year. Looking OOS as well but have not given up hope for HH in SD just yet..
Im looking to start doing the same thing myself! Gonna buy my first four bedroom house in Temecula because everything south of the 78 in SD is crazy expensive!
Hope to rent out three bedrooms while my wife and I live in the master. Three bedrooms should offset the mortgage. Then with the money we save I hope to buy a five bedroom in Murrietta and rent out all five rooms individually bc can get way more than a single family in there.
@Joe Tesmer I live in Murrieta and am an OOS investor. I've grown up here before Murrieta was a city, so I know the area and would be happy to discuss or answer questions. Best of luck in your search!
Did you end up house hacking in SD?
San Diego's market is great. Still expensive but prices might go down next year or so.