House Hacking in San Diego

[Trevor J.]

Hey guys,

Has anyone house hacked in San Diego (preferably in neighborhoods as north as Encinitas to as south as downtown)? I'm looking to hear about your experiences! 

I'm just getting started myself, learning the number game and reading up as much as I can about real estate. I'm a mechanical engineer full-time and enjoy my job but realize that real estate is a solid investment vehicle if done properly... 

Would love to hear from working professionals who pulled off a house-hack in their spare time - what did you learn? what would you do differently? who helped you the most?

Thanks!

[Tyler Hungerford]

Hi @Trevor J.! Love that you're getting involved in the investment game like this with a house hack! Congrats man. I have been able to help a lot of clients in SoCal with helping them find homes with detached garages and building out ADUs. The detached garage is perfect for that type of house hack and it's a fairly cheap way to add another unit to your existing home. I'm helping one of my clients do this right now in Redlands. He's purchasing a home that needs some work, but is set up perfectly to house hack. My client is going to fix up the house, build out the garage and convert it into an ADU and live in it, while he rents out the front house. The front house rent will pay for his entire mortgage and then some ($2,200/month in rent)! Then, once he decides he doesn't want to live in the converted garage anymore, he can rent that out without an issue for $1,000 to $1,200/month. THAT IS INSANE CASHFLOW!! Imagine having 5 houses with the ADU in the back doing this same thing!

Let's chat and see how we can strategise on achieving your dream of creating generational wealth through the acquisition of real estate!