San Bernardino House Hack

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Matthew Kwan
Lender · Seattle, WA · Member since 2022 · 482 posts · 768 votes
3y

Are you trying to invest in single family or multifamily? What is your loan budget and ideal down payment?

@Albert Bui @Carlos Valencia

2Reply
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  • Alfonso Aramburo Zepeda
    Investor · Riverside, CA · Member since 2019 · 141 posts · 40 votes
    3y
    Quote from @Keivan Cross:

    Please provide insight on SB market multifamily or ADU garage conversions? Looking to house hack in this market.

     Hi Keivan! 
    i'm very familiar with the Inland Empire, including SB as this is where I've been looking for deals. In fact, SB is one of the few areas that you can still find multifamily properties in the MLS.

    I would suggest you to stay away from downtown SB and go north by the University, or by waterman. There are some nice areas and bad ones like any other city. 

    I’d be happy to give you more insight if you need!

    0Reply
  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    3y
    Quote from @Keivan Cross:

    Please provide insight on SB market multifamily or ADU garage conversions? Looking to house hack in this market.


     You can grab a small multifamily in San Bernardino, Yucaipa, Redlands, Loma Linda. I would look for a duplex and house hack that for your first one. ADUs are a great way to go; however, if they are your first one they are very capital intensive (garage conversation $85K+ not including what you would have to pay for purchasing the place etc.). The $85K would be a a little light as well depending on what you are looking to do with the garage conversion and how big. 

    A house hack on a duplex would be easier, and you can even rent out the unit you live in to for saving more money. 

    Side note, there still are some smaller institution that may have a grant program for ADUs (CalHFA has a program for grants). This was just opened on March 1, 2023 and they are not giving out a ton of grants so jump on it if this is something that is going to happen for the purchase quickly for you.

    The McKernan Group4.957 Reviews
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    1Reply
  • Keivan Cross
    OP
    Rental Property Investor · Los Angeles · Member since 2020 · 37 posts · 19 votes
    3y
    Quote from @Peter Mckernan:
    Quote from @Keivan Cross:

    Please provide insight on SB market multifamily or ADU garage conversions? Looking to house hack in this market.

    Thank you for you insight @Peter Mckernan

     You can grab a small multifamily in San Bernardino, Yucaipa, Redlands, Loma Linda. I would look for a duplex and house hack that for your first one. ADUs are a great way to go; however, if they are your first one they are very capital intensive (garage conversation $85K+ not including what you would have to pay for purchasing the place etc.). The $85K would be a a little light as well depending on what you are looking to do with the garage conversion and how big. 

    A house hack on a duplex would be easier, and you can even rent out the unit you live in to for saving more money. 

    Side note, there still are some smaller institution that may have a grant program for ADUs (CalHFA has a program for grants). This was just opened on March 1, 2023 and they are not giving out a ton of grants so jump on it if this is something that is going to happen for the purchase quickly for you.

    0Reply
  • Keivan Cross
    OP
    Rental Property Investor · Los Angeles · Member since 2020 · 37 posts · 19 votes
    3y
    Can you provide any zip codes?

    @Alfonso Aramburo Zepeda:





    Quote from @Alfonso Aramburo Zepeda:
    Quote from @Keivan Cross:

    Please provide insight on SB market multifamily or ADU garage conversions? Looking to house hack in this market.

     Hi Keivan! 
    i'm very familiar with the Inland Empire, including SB as this is where I've been looking for deals. In fact, SB is one of the few areas that you can still find multifamily properties in the MLS.

    I would suggest you to stay away from downtown SB and go north by the University, or by waterman. There are some nice areas and bad ones like any other city. 

    I’d be happy to give you more insight if you need!


    0Reply
  • Alfonso Aramburo Zepeda
    Investor · Riverside, CA · Member since 2019 · 141 posts · 40 votes
    3y
    Quote from @Keivan Cross:
    Can you provide any zip codes?

    @Alfonso Aramburo Zepeda:





    Quote from @Alfonso Aramburo Zepeda:
    Quote from @Keivan Cross:

    Please provide insight on SB market multifamily or ADU garage conversions? Looking to house hack in this market.

     Hi Keivan! 
    i'm very familiar with the Inland Empire, including SB as this is where I've been looking for deals. In fact, SB is one of the few areas that you can still find multifamily properties in the MLS.

    I would suggest you to stay away from downtown SB and go north by the University, or by waterman. There are some nice areas and bad ones like any other city. 

    I’d be happy to give you more insight if you need!



     What are you looking for? There are good deals all over the place

    0Reply
  • Keivan Cross
    OP
    Rental Property Investor · Los Angeles · Member since 2020 · 37 posts · 19 votes
    3y
    Quote from @Alfonso Aramburo Zepeda:
    Quote from @Keivan Cross:
    Can you provide any zip codes?

    @Alfonso Aramburo Zepeda:
    I’m looking for A and B grade neighborhoods. Single family units detached garage 




    Quote from @Alfonso Aramburo Zepeda:
    Quote from @Keivan Cross:

    Please provide insight on SB market multifamily or ADU garage conversions? Looking to house hack in this market.

     Hi Keivan! 
    i'm very familiar with the Inland Empire, including SB as this is where I've been looking for deals. In fact, SB is one of the few areas that you can still find multifamily properties in the MLS.

    I would suggest you to stay away from downtown SB and go north by the University, or by waterman. There are some nice areas and bad ones like any other city. 

    I’d be happy to give you more insight if you need!



     What are you looking for? There are good deals all over the place


    0Reply
  • Matthew Kwan
    Lender · Seattle, WA · Member since 2022 · 482 posts · 768 votes
    3y

    Are you trying to invest in single family or multifamily? What is your loan budget and ideal down payment?

    @Albert Bui @Carlos Valencia

    2Reply
  • Nicole Collins
    Riverside, CA · Member since 2016 · 37 posts · 19 votes
    3y

    I just bought a 3bed 2 bath house in Downtown Riverside with a garage that has a bathroom added for $500,000. You could definitely get something cheaper in San Bernardino. This was a good find for me because the garage already had plumbing, electrical and gas. I just have to do a few modifications to make it a rentable unit. I’m living in the main house and will be renting the garage. Good luck on your search! 

    1Reply
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