Newbie in SF Bay Area: Questions on test-run "House Hacking" in Bay Area

[Denny C.]

Hi everyone,

Very excited to finally be able to post on here! 

A little background on me, I've always had a plan to use REI to step away from a 9-5. I'm a complete newb but have done the best I can researching RE. I'd like to pursue a strategy of buy-and-hold for cashflow and potential for added value over time on property but planning on holding indefinitely for the cashflow.

I think I'm ready to jump right in and "house hack" as a feeler and intro to land lording.  Main concern is I have very little capital, and would like to stay in the area(San Jose to San Mateo).  I figure do this test run locally then once I gain more experience I can pursue regions that can work for me(in particular Greater Bay Area, LA and Philly area).

As a feeler, I wouldn't want to have this first investment affect my job... But the area is so expensive which has made manufactured homes/mobile homes very attractive to me. My plan was to use an FHA loan, which would allow me to actually jump into something as opposed to waiting longer.

My questions:

-Thoughts on mobile homes in my area as my first feeler into REI through house hacking

-Any recommendations on alternatives to this type of housing?  

-Concerns and questions I'd be happy to answer!

Thanks all!

[Robert Musallam]

Hey @Denny C. Welcome to BP!

I actually house hacked on an FHA loan for a couple of years here in the bay area. I lived rent free in downtown SJ. I bought and sold at a really good time, so while I no longer do that I know it's possible and something I'm confident you could do too assuming you can afford the initial investment.

Feel free to ask me any questions you may have!