bought SFH in bay area in 2019, heres my details

Feb 13 22 Comments

1. Everyone scared to buy so i bought while it
was not competitive

2. i looked for something 15 min walk max to BART train station to make it easier to rent to workers in sf despite being in less desired area

3. I'm a broke entry level eng so i settled for east bay area (city with 0 homicides in 2019)

4. I'm a broke entry level eng so im renting out 2 rooms to friends

5. Starter SFH: 3 bed 2 bath for under 700k, 20% down

6. after mortgage interest tax deduction and extra rental income i basically pay like ~700/mo

7. if you consider that 700/mo and notice it goes towards my principal/equity, maybe consider it $0/mo

8. add utilities $250/mo and set aside maintenance costs just in case ~500/mo

= 750/mo + ~700 into my equity/mo

I definitely made compromises to be able to get a SFH. Hope it appreciates well

Since I have family in the bay i don't want to get displaced if housing prices 2x again in 5 years like it has, so i bought in 2019

Sharing story in case it helps! I think most of you have saved more than me so it should be easier for you and not have to make as much sacrifices

205k TC
2 yoe
24 yrs old

#bayarea #sfbayarea #eastbay

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TOP 22 Comments
  • Intuit rEpp28
    Where you end up finding a home for that price in the east bay? Genuine question - not familiar with the area ...
    Feb 13 5
    • Amazon heatedmurk
      OP
      Dm'ed

      I rent out 2 rooms and live in 1
      Feb 14
    • Synopsys girly@syn
      please dm me too, wanting to know the location. thanks in advance
      Feb 15
  • New ctheta
    Congrats! You started living American Dream!
    Feb 13 2
    • Amazon heatedmurk
      OP
      Thanks! it is not ideal to live with others but hopefully in 5-6 years i will have saved up enough to not need extra $1800/mo rental income

      I actually wrote about the American dream to the home seller lol
      Feb 13
    • New ctheta
      It’s a good start ! When I was 24 years old I was renting a townhome with 3 while finishing my grad school! A right step towards your dream is better than ideal step. I am so happy for you and wish you all the best!
      Feb 13
  • Google Ben Dover.
    Great job! :)
    Feb 13 1
  • Uber Hofy06
    How long commute?
    Feb 13 3
    • LinkedIn raptorz
      Door to door time? Or just bart time?
      Feb 14
    • Amazon heatedmurk
      OP
      Door to door - bart ride itself is 25-30 minutes
      Feb 14
  • Fitbit jjWO01
    Could you please DM me the location? I am interested to be your neighbor. Single lady in my 30s and wants to save up some equity.
    6d 0
  • Facebook YtrQ07
    Congrats. And Great job hustling! That’s how I started and now I have a few properties in SFBA after moving 8 years ago.
    Feb 15 1
    • Amazon ysmskdkd
      The dream is to be like you someday :)
      Feb 16
  • LendingHome iCFl88
    Nice house hack!
    Feb 13 1
    • Amazon heatedmurk
      OP
      Anything to get through this housing crisis 💪
      Feb 14
  • Microsoft turtleback
    Where is your office located?
    Feb 13 1

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