All Forum Posts by: Sarah D.

I completely agree with @Dan H.  in regards to a working class area house hack (he is a local expert on Escondido 2-4s). Add to that forced appreciation through sweat equity (I'm becoming a local expert on that ;)) and you will find yourself with the knowledge and experience to either continue to invest locally or invest out of state. 

@Aaron Bry 136 hours in two weeks?!?  At that point skip the commute and just put a roll out mattress under your desk.

@Aaron Bry  could you find a roommate to live with your brother so that you could move closer to work? That commute sounds horrible. And I'm in California as well, so I understand the pain of commuting. Just another option while you decide, or the two of you decide whether not to sell. 

 I would consider it heavily given that with your option for overtime you can literally put a dollar figure to each hour you spend not working. 

check lowes and Home Depot right now. They have great deals, $400-$500 per appliance for stainless. Once you pick a particular model is suggest goggleing (sp?) it to see if you can better deal from an online retailer. 

Side note, thanks as this thread just reminded me to submit my mail in rebates for the appliances just purchased for our rental!

@Kevin Godinho I think it's s great place to invest!  My husband and I just bought a 4plex that we are house hacking right now (living in one unit, renovating the others; first is going on the market in about s week!). But it is expensive and competitive, and there is a steep learning curve in my personal experience. You are more likely to be successful if you can weather any financial challenges (repairs, vacancy, economic downturn).  Hence my comment about having a healthy fund before jumping in. 

I too wish we had done this several years ago when the market was lower. But we bought smart and  I know in ten years I'll sure be glad I jumped in now instead of waiting for a potential market downturn. 

@Kevin Godinho  we are nearing a peak in San Diego. Or we're at the Peak, or we're past the peak, or we're in a bubble. Either way everyone can agree that prices are extremely high right now. It would be very risky to buy a property with a little down because you couldn't afford to put anything more down. Putting as little as possible down is a great idea if you have reasons to maintain the other capital in cash reserves.  But even the best deal on paper won't work out perfectly, especially your first time while you're at the bottom of the learning curve. Take some time, meet some people, and save a lot of money. House hack is the way to go in San Diego. 

I suspect the school's reputation plays into the wear and tear on units as well. If  you're buying a property to serve students from a known party school, you should probably be prepared for a lot of partying… (not sure if that is the case)

If you keep it what will your housing cost be in your new location (vs selling and house hacking, live in flip, etc)?  Where will you get the funds for investing?  What are your investing goals?  Those answers should play into your decision as well. 

@Jennifer McElliott the owner of the apartment I live in just remodeled the kitchen while we were living there and it was horrible. I probably should mention that the owner is me and my husband (house hack). 

We bought our property in a similar situation and gave the current tenants 60 day notice to vacate. They just moved out and I discovered I was a slum lord; one unit had roaches, windows that wouldn't open/close properly, faucets coming off the fixture, etc.  So sad. 

 Does the property cash flow with the current tenants in place? Do you really want to get runs the market and put that money into the property? If it makes sense to keep the tenants I would consider giving them a modest increase in rent. If you really want to get rid of them just give them a 60 day notice. What's the purpose of over charging them by bring rents to post rehab market prices?

@Mike Cumbie has the best response. Using a sex offender nearby to get reduced rent (if that is the case) is disgusting. A reasonable person would assess the situation and make the best move for their family.