Updated over 3 years ago on . Most recent reply
How Much Money do you Need to House Hack in Los Angeles
Hey everyone, I was wondering what the ballpark down payment one would need to house hack in LA, and bring their monthly payment down to 1000/ month or less.
Most 3-4 unit places I have found in West LA are 1.5 - 2 million, and it seems like even with something like a 500k down payment, most places the owner/ investor would still need to pay 2k/ month after, which seems ridiculous.
For example, if a triplex has a mortgage payment of 8000 per month, 2, 2 beds 2 baths, 3000/ each, and then one more unit for the owner, they would still end up paying 2000 per month to make up the difference. This just doesn't seem like a good deal to me. Is anyone successfully house hacking in West LA in 2022. How much money would one realistically need for a down payment? Is it still possible in 2022?
Are there better strategies?