All Forum Posts by: Mark Frattini

Hi @Janell Johnson

Do the numbers not make sense to rent out the entire house with a single lease? Do you plan on self managing or sourcing a PM? Is the property inside of an HOA? I personally have avoided renting out individual rooms due to all the extra risk and management. Your neighbors will be dealing with possibly 4-5 cars and you may run into problems if you have an HOA. The chances of personal issues between that many tenants sharing common space is pretty high. You will have a higher amount of wear and tear on everything. Dealing with 4-5 separate leases and trying to divide utility expenses etc. sounds difficult at best. Good luck!

@Parker Radford

Welcome to BP!

Eliminate your current situation of renting first. Housing, especially renting will be your biggest expense. If you can reduce or completely eliminate this expense through house hacking where you live the savings will trump any cash flowing property in the Midwest. 

@Connor Martin

Welcome Connor. 

@Mark Baldwin

I suggest you work with a good lender to see what you and your wife qualify for and start there. You can easily find something well under $2M to house hack in San Diego. 

@Elias Parisca

I work with a CPA who has an office in San Diego. She is also a Tax Strategist and works with a lot of RE investors. She typically responds quickly and has been a great resource when I have questions throughout the year. Reach out and I would be happy to get you connected.

@Emma C.

Try to find a single family home or condo if renting rooms fits into your lifestyle. Also, put down as little as the banks will allow.

@Ben Capone

Congrats! Should do very well over the long term.

@James Solis

What's your current living situation here in SD? Renting or did you purchase? If you're renting I would eliminate that huge expense first. Mostly everyone will recommend house hacking however as a soon to be dad I wouldn't personally want to be sharing my personal space with others. A better option is to find a small multi where you can live in one and rent the others. Similarly you could find a SFH with and existing ADU or with the potential to add a ADU/JADU.

@Mark Doty

Nice!

@Jamie Jeffredo

Can you pull some of the equity out of your home and use it towards another property in SD? You could rent out your home either long or short term which is consistent with your passive income goals. Another option is to sell the current property and invest into a multi or something that already has an ADU. Live in one of the units and rent the others.