All Forum Posts by: John Einarsen

HI All, I live in Los Angeles but am looking to invest up to $75k in my first real estate deal in the Chicago area (city or north suburbs) since my family and friends are all there. I want to find and rehab a distressed property then rent it for cash flow. Can anyone help me find deals on the smaller side to get my feet wet? As mentioned, I’m ready to invest up to $75k. Thanks!

Thanks for this perspective. @Ali Boone - awesome! I'd love to meet if interested. I'm not sure how to private message on Bigger Pockets yet, but please feel free to reach out you're open to grabbing a coffee in the neighborhood. It would be great to learn about your experience and whether we can work together. Thanks!

​Thanks, @mand for this input! I have been learning that multi family properties in west side of LA will not cash flow so I am now looking into single family homes on R2/R3 lots where there is room to easily construct a second unit in the back (maybe pre fab to minimize cost of carrying property without extra rent). For example, I confirmed with the city that I could build a 33'x28' back unit up to 33 feet high at 8342 Reading Ave in Westchester before it sold to someone else a few weeks ago. Do you think there would be value in doing this?

Hi All!

I'm looking to house hack in Los Angeles and would welcome any input. I have no real estate experience but a TON of desire to learn and implement a house hack!

Hi Mike and John,

Thanks for this feedback! This was a home I was interested in purchasing. I already spoke to the city and they confirmed I can build a second structure and stay compliant with local zoning laws. However, it's interesting to hear that it would potentially be a poor investment.

My main goal is to house hack a property that will pay for itself through rental income while I occupy a small portion of the property (e.g. the top floor of the second unit that I would build).

I got a quote from "Giant Shipping Container" homes for $250k for a 2,000 sq foot, three story structure that may be a decent option for the second unit.

Do you recommend I that I instead build a large addition onto the existing home to maximize potential rental income and simply design the addition to allow for a separate living space for my wife and I to feel like we have our own lives compared to the renters on the other side of the wall?

I deeply appreciate all the insight!

Hi All,

I am brand new to real estate and am looking to house hack instead of rent. I want to buy a single family on a lot zoned for multi-family (e.g. up to 2 units) and live in one portion while renting out the other. Is this a good idea? Here is an example of a property that might work:

https://www.redfin.com/CA/Los-Angeles/8342-Reading...

The city told me that the imaginary second unit can be 32'x27' and up to 33 feet in height. I'm thinking of doing a pre-fab home to minimize the cost to carry the property before it can be rented out. Can anyone help me analyze this scenario?

Thank you in advance!