What are yours thoughts on Investing In multi-family homes or apartments In San Diego?
Key points to watch out for and things you wish you would have known before starting your journey?
Here are some of my thoughts
Realize that return in the short term, without a value add, will be poor or bad. Competition for value adds is great. competition for rehab flips is great. historically buy n hold over long term has produced outstanding return. ADUs are not a value add, but they can help the cash flow. make sure you understand rental expenses; if you not familiar with the 50% rule then look it up.
San Diego is a great place to invest in for the long term. Are you looking to flip, buy and hold, short term rental, house hack? Work on putting together a team (Core Four) and then start analyzing deals and find something that works for your goals. Let me know if there is anything I can do to assist.
What are yours thoughts on Investing In multi-family homes or apartments In San Diego?
Key points to watch out for and things you wish you would have known before starting your journey?
Here are some of my thoughts
Realize that return in the short term, without a value add, will be poor or bad. Competition for value adds is great. competition for rehab flips is great. historically buy n hold over long term has produced outstanding return. ADUs are not a value add, but they can help the cash flow. make sure you understand rental expenses; if you not familiar with the 50% rule then look it up.
Lender · San Diego, CA · Member since 2020 · 5 posts · 0 votes
5y
@Mark Frattini
Thank you Mark, I appreciate your feedback.
I’d definitely be buying and holding on for long term.
The (core four) excellent point, I’am new to the area so having a team specialize in multi-family will be a game changer. I currently analyze at least 2 deals a night on bp calculators, just learning how the numbers work.
Investor · San Diego CA · Member since 2014 · 341 posts · 139 votes
5y
Multifamily has been overvalued for years. Everyone wants it, I wouldn't touch it unless you find a sick deal. Very rare. Better would be to repurpose something into multifamily. Hotel, vacant office space. As long as the zoning allows.
Theres stuff in the midwest that seems attractive, but there's a lot of cons there as well. Good luck Brah!!