Multifamily & SFH+ADU realtors & lenders

[Account Closed]

Hi there - First time home buyer here. I'm looking for lenders and real estate agents in San Diego who have actual personal experience (their own investments, not just vicariously through their clients) house hacking (buying a *multifamily* property like a duplex; living in one unit; & renting out the other) and/or buying a single family home & renting out an ADU on the property. pls message me if so. Also, to be clear: I am not interested in house hacking a SFH- I am not trying to have housemates or actually live in the same unit as any renters…Thx!

[Madison Carlson]

Hi Lisa,

My brokerage specializes in buy/sell residential, investment real estate, short term rentals, and property management! I work on a team with the managing brokers at Class Realty Group. Personally, they own 4 units in Mission Beach (3 short term rentals and 1 office space) as well as we manage 20+ rental properties for clients. They just recently flipped a duplex near Torrey Pines & Del Mar adding 2 ADU's on the property. They recently rented out both units, 1 unit as a long-term rental and the other as a short-term rental.

Therefore, we have kept a close watch on STRO in San Diego. A few concerns we have are:

• What are my chances of getting a Tier 3 (Pacific Beach) or Tier 4 (Mission Beach) License for short term rentals?

• Will the reduction of short-term rentals increase rental inventory so much that long term rents go down and vacancy increases significantly?
• Will those that do not get a license choose to sell all at one time in an already cooling/uncertain real estate market?

Although we don't have all the answers, we have spent quite a bit of time analyzing the data provided by the City of San Diego and would be happy to share the insights with you! Hope this was somewhat helpful and would be happy to connect and chat more!

Published STRO Implementation timeline:

• October 3rd, 2022 – Application Period Opens for all STRO license Tiers
• November 30th, 2022 – Tier 3 & Tier 4 License Period Closes
• December 16th, 2022 – Lottery conducted & hosts notified of the results
• January 6th, 2023 – Tier 3 & Tier 4 License Fees Due
• May 1st, 2023 – STRO Ordinance Implementation Date