Buying the Property I live in :-)

[Josh V.]

Good Morning, 

I love BP and want to ask the community what all of your thoughts are!

Here's the situation.....my wife and I live in San Diego and have rental property in Louisiana. (The price points are a lot better in Lousiana) We love SD and live in a 8 unit townhome/ garden apartment complex. It's in a desirable neighborhood and even though cash flow in SD never really happens I'd be interested in making an offer to the owner. I have the owner's address but have never spoken with them, only property management. I don't have any issue with witting a letter to the owner my issue is that I don't have any of the "numbers" to evaluate the property I live in expect my own personal rent. A rent about which I think is lower than the other units since we've been there for 3 years now. 

Does anyone have any insights on how I can reverse engineer this problem a come up with a possible valuation of this property? 

[Sharyn Umaña-Angers]

Hi Josh -

As a fellow San Diegan (and a BP newbie itching to learn), I'm just curious as to your interest in this course of action. If, as you say, there is no significant cash flow to be had, and if you have not yet run any numbers, how did you arrive at the decision to make an offer? And which neighborhood in SD if you don't mind my asking?