Santa barbara · Member since 2019 · 9 posts · 4 votes
Hello, I am a single first year pharmacist with no kids who recently moved to California from Ohio. I am currently renting an apartment for 2035$ a month and I have currently saved around 40k. I am debating on investing into a duplex, triplex or something even bigger and live in one of the units. I figured if I am paying 2k + for rent I could create a cash flow opportunity plus live for basically free off other renters.
However, I am new to real estate and property is very expensive in Santa Barbara, California... can anyone offer advice or refer some good books, mentors or blogs that could help prepare me on what to expect or what to look out for?
Real Estate Agent · Mira Mesa, CA · Member since 2014 · 218 posts · 49 votes
7y
If you already requested a transfer to Oceanside shouldn't you be looking for a multi-unit in North San Diego County? Besides there's way more multi-unit inventory down in Oceanside than Santa Barbara.
Real Estate Agent · Santa Barbara, CA · Member since 2017 · 5 posts · 1 vote
7y
Hey, @Ibrahim Ramadan
Property in Santa Barbara is very expensive. I would recommend investments outside of Santa Barbara if you are looking for cash flow. City’s like Lompoc or Santa María would be more realistic if you are looking for a cash flow property. If there is anything in the world I can do for you just reach out, I am a real estate agent looking to help investors in any way I can.
Santa barbara · Member since 2019 · 9 posts · 4 votes
7y
@Alejandro Munoz thank you for the insight. Are you located in SB? Also, I have requested a transfer out of SB to go further south (Oceanside) where it is a bit cheaper
Investor · Oxnard, CA · Member since 2014 · 438 posts · 187 votes
7y
@Ibrahim Ramadan You could also consider house hacking a SFR instead of a small multifamily. One of my coworkers wanted to house hack, but couldn't find any duplexes that made sense, so my wife helped him find a SFR and now he more than covers his mortgage by renting out 3 of the bedrooms.
Real Estate Agent · Santa Barbara, CA · Member since 2016 · 518 posts · 283 votes
7y
@Ibrahim Ramadan if you want to invest in Santa Barbara your going to need either a bigger down payment, house-hack, or invest in mobile homes or condos.
Real Estate Agent · Mira Mesa, CA · Member since 2014 · 218 posts · 49 votes
7y
If you already requested a transfer to Oceanside shouldn't you be looking for a multi-unit in North San Diego County? Besides there's way more multi-unit inventory down in Oceanside than Santa Barbara.
Hello, I am a single first year pharmacist with no kids who recently moved to California from Ohio. I am currently renting an apartment for 2035$ a month and I have currently saved around 40k. I am debating on investing into a duplex, triplex or something even bigger and live in one of the units. I figured if I am paying 2k + for rent I could create a cash flow opportunity plus live for basically free off other renters.
However, I am new to real estate and property is very expensive in Santa Barbara, California... can anyone offer advice or refer some good books, mentors or blogs that could help prepare me on what to expect or what to look out for?
I would appreciate any advice
Thank you,
A technical detail. You can only buy a 1-4 unit property with an owner occupied loan. 5 units and above require commercial financing and you will not be able to live in the property.
London · Member since 2019 · 722 posts · 386 votes
7y
My wife and I are considering SB as a destination for a relocation from the UK. Following the conversation. We have not viewed the community or the surrounding area to date. Later this year is the plan.