Nice house, nice location, nice neighbor, but not a nice spot

6 Replies

Hi BP,

I am looking out for my first deal to start my house hacking and rental property investment in Southern California. I am very new in the industry so please comment alot , I want to learn.

I came across this deal and the price, the number of units, and the location seem to fit what I need.

https://www.redfin.com/CA/Baldwin-Park/12877-Salis...

This is a multiple family property with 2 units, in which I want to house hack the back house and rent the front house. Not sure if it is a house hack if I have to pay out of pocket every months for half of the mortgage. 

The pro : 

  • checked it out the house, like it (7.5 out of 10), still need to do some work on front unit
  • see the potential of expanding it, since 12000 sq 
  • good school around, and quite neighbors 

The cons:

  • the power line is right in the back
  • the is a huge power connector in front of the house
  • dead end of the drive way
  • hard to sell I presume
  • hard to get tenant because of the power line

Anyone think this is a good investment property, and what do you think about the power line.

Thanks much,

Updated almost 2 years ago

Hi BP, I am looking out for my first deal to start my house hacking and rental property investment in Southern California. I am very new in the industry so please comment alot , I want to learn. I came across this deal and the price, the number of units, and the location seem to fit what I need. This is a multiple family property with 2 units, in which I want to house hack the back house and rent the front house. Not sure if it is a house hack if I have to pay out of pocket every months for half of the mortgage. The pro : checked it out the house, like it (7.5 out of 10), still need to do some work on front unit see the potential of expanding it, since 12000 sq good school around, and quite neighbors The cons: the power line is right in the back the is a huge power connector in front of the house dead end of the drive way hard to sell I presume hard to get tenant because of the power line

Right now I would edit your post and take out the redfin ad, because someone else might see this and snap it up before you have it under contract. 

@Lan Nguyen

Listen to what @Michaela G. said.   I had a property snatched right out from under me when I made a post similar to yours.  Most people here are ready to help you, but, there are a few that will take advantage of you.  That said, you need to post the info/data to allow people to analyze and provide good feedback.  Let me ask a few questions to get you started.

You said it is 2 separate buildings (the overhead shot looks like 3 buildings!?).  And yes it is a house hack if you are living in one of the units (paying part of the mortgage out of pocket).  How many Bedrooms/Bathrooms in each unit?

What is square footage of each unit?

What is List price?

Are the units currently rented?  What is rent rates?

What are Operating Expenses?

Thank @John Leavelle and @Michaela G. , ill make a separate post with the above question + information. The forums doesn't allow post deletion so I can't do anything to the above post. Interesting that we don't have such feature.  

@John Leavelle you can't edit after 15 minutes of posting the post, or maybe I don't know how. I looked everywhere in my profile/dashboard, I can't find where I can edit my post. 

As long as the power line is not a safety liability don't worry about it. Push comes to shove, just complain to the city to raise the line or something. Just focus on your numbers on the deal, stick to them and go for buying the house. The more you hesitate the more likely the house(s) will be bought by someone else. All it takes is a phone call for good deals to go away. 

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