With crazy high rentals in the SF Bay Area, I was wondering if anyone has experience or had success with house hacking. Is it something that I should even pursue or try? Just seems like a lofty task, but if there are others who have done so, I am up for the challenge!
It’s definitely possible, but you either need the ability/willingness to pay easily $1M+ If you want to be in a B or better neighborhood or you have to be fine with living in areas like Richmond or Oakland and rolling up your sleeves on a major value add deal. I’d definitely recommend employing a value add strategy regardless of which path you take.
I’m house hacking a 4plex in an A+ city in the East Bay, but those types deals are extremely rare and you have to be well connected to the brokerage community to have any shot at getting them.