All Forum Posts by: Sarah D.

I'm biased because my husband and I just purchased a 4 unit and are living in one unit, renting the others. It's a great idea! The properties you describe tend to be good rentals, because it allows someone to have a SFH for a lower rental price; hence, they are also highly sought after. Personally, we have also found it to be a less steep learning curve to the rental/rehab world.

I agree with @Walter Roby jr, don't bet on appreciation.  Make sure the numbers make sense for your goals.

@Da Chung We just added a laundry room in a storage in our 4 unit (no plumbing at all so much more expensive), and we've also upgraded all 4 electric boxes.  I've been really happy with both our plumber and electrician.  PM me for the names (not sure if I can post them here?).

Taxes would be based on your purchase price.  But in CA don't forget we have Prop13!  In general for San Diego I used property tax rate of 1.15% when looking at properties.  There may be special assessments which change the rate slightly.

@Ericka G. Are they running all new mechanicals for the washer/dryer?  Including drain?  If so, are they tying into something nearby?  

@Andrew Bergen best of luck!  Please keep us all posted on your progress

I'm house hacking a 4 unit in PB which will cash flow $250 per unit once we move out; in the meantime we live for free.  It's possible, but you need a hefty downpayment and you need to look for value add opportunities.  I didn't see anything less than 3 units making sense for B&H.

How are you planning on financing it?  Is your friends mom willing to carry the mortgage until you sell?  Other than the roof, what's the scope of work?

I'd recommend Jerry Padilla at MB Financial. He helped us get a loan for our 4 unit. We hoped to go FHA but couldn't meet self sufficiency with the low down payment. However, the bank he works for does FHA 3-4 units and he is very knowledgable about the requirements.

@Lamonte Johnson City Heights has a lot of challenges because of the population, lots of Section 8, and has a history of violent crime.  It also has a TON of culture and great food because of the population, and lots of community and government support to improve the area.  There are a few pockets that resemble North Park with beautiful restored homes, owner occupied, etc.  I think it's 50/50 where it will be in the next 10 years.  Personally I don't think the area will get worse, but I'm not sure it will get much better either.  People are betting on it being the new North/South Park, but I'd suspect Golden Hill and the area Southwest of there along the 94 will improve next because of proximity to downtown and uptown areas.  Just my best guess, and I live in PB so what do I know.

Id second La Mesa, as it is an up and coming area with young families and also MFR opportunities. I don't know if Santee has much in the way of 2-4 units but it's definitely another inland area that is improving.