Newbie in San Diego saying hello to the community

Newbie in San Diego saying hello to the community

Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes

Hello, I am starting out after years on the sidelines. I have been an accidental landlord due to moving around in the military. I have also bought a couple of turnkey properties and realize I can't reach my goals through that method. I live in San Diego and things are very expensive here as everyone knows. I have a small son that makes traveling to other places for RE difficult but not impossible. House-hacking is out of the question for my family (long story here, not relevant). I am listening to the messages from BP sources and want to start with a small victory of a SFR rental out of state requiring minimal work to get it rented. From there, I plan to travel to do a rehab and then scale either in number of simultaneous rehabs, quality, doors, etc. That is my back-of-the-envelope plan. I am now committed to this since I have retired from the Navy and my focus can be completely on Real Estate. It's good to be here! I am open to ideas and suggestions for my journey. FYI-My goal is initially to realize a cash flow of $5K/month. Beyond that, my plans are less defined.

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Realtor · Encinitas, CA · Member since 2020 · 125 posts · 92 votes
6y

Welcome Dan Raphael!

I'm in San Diego and recently joined BP as well. I have already learned so much from browsing the forums daily. This is a great resource for people looking to invest out of state and will allow you to connect to investors in your target areas. 

Where are you thinking of investing? 

San Diego is so expensive it almost blows my mind that people can buy houses for $100,000 elsewhere. I want to invest out of state eventually but am currently focusing on a house hack (added a 1000sq ft ADU to my primary residence). I have also retired from my primary career and turned my focus to working full time as an investor specific real estate agent and real estate investor.

Are you going to be taking advantage of VA funding?

I'm not a VA lending expert but know there are amazing opportunities for those who qualify! Also I know there is a gentleman here in the San Diego BP forum community that is an expert on VA loans, hopefully he will see this post and say hi.

Have fun browsing the forums!

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  • Realtor · Encinitas, CA · Member since 2020 · 125 posts · 92 votes
    6y

    Welcome Dan Raphael!

    I'm in San Diego and recently joined BP as well. I have already learned so much from browsing the forums daily. This is a great resource for people looking to invest out of state and will allow you to connect to investors in your target areas. 

    Where are you thinking of investing? 

    San Diego is so expensive it almost blows my mind that people can buy houses for $100,000 elsewhere. I want to invest out of state eventually but am currently focusing on a house hack (added a 1000sq ft ADU to my primary residence). I have also retired from my primary career and turned my focus to working full time as an investor specific real estate agent and real estate investor.

    Are you going to be taking advantage of VA funding?

    I'm not a VA lending expert but know there are amazing opportunities for those who qualify! Also I know there is a gentleman here in the San Diego BP forum community that is an expert on VA loans, hopefully he will see this post and say hi.

    Have fun browsing the forums!

  • Real Estate Agent · Oklahoma City, OK · Member since 2019 · 956 posts · 600 votes
    6y

    @Dan Raphael when you say you plan to travel to do rehab do you mean you'll do the rehab yourself? 

  • Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes
    6y

    No I mean be present at points in the construction for verification and inspection. Sorry I didn’t articulate that well.

  • Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes
    6y

    Hi Nicole!

    I am building a network in Dayton Ohio and also have a friend who is investing in Columbus, OH. I don't see using VA funding as it is designed to be used for your primary residence and I am not in a position to house hack anywhere. I'll scour the forums in case I am misinformed regarding the VA loan. Best of luck with your investing!

  • Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    6y

    Welcome to the site @Dan Raphael! I am here in the Ohio market, feel free to reach out with any questions you might have! 

  • Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes
    6y

    Thanks for the warm welcome Zeke!

  • Real Estate Agent · San Diego, CA · Member since 2014 · 205 posts · 123 votes
    6y

    @Dan Raphael that’s awesome you have a plan to get going. Let me know if you have questions about building or rehabs. I have some experience.

  • Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes
    6y

    Thanks David!  Message sent- I will never pass on sage wisdom!

  • Lender · Newport Beach, CA. · Member since 2020 · 32 posts · 13 votes
    6y

    Welcome, Dan!  Please let me know if you need any assistance with funds when it comes to purchasing your next project.  We are a family office in Newport Beach, CA and specialize in private lending.  We currently have a project in La Jolla and visit frequently.  

  • Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes
    6y

    Fantastic Gary- will do!

  • Twana RasoulBusiness Member
    Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
    6y

    Welcome! There are many locals who invest in markets throughout the Midwest.

    Best of luck!

  • Chris De CellePro Member
    Rental Property Investor · Los Angeles, CA · Member since 2016 · 41 posts · 28 votes
    6y

    @Dan Raphael @Nicole Holcomb

    I too live in San Diego and just couldn't make it work because of the Exorbitant prices in our lovely city. My partners and I do value-add apartment complexes out of state. We have invested in GA, TX, & FL. Even with the present state of uncertainty, we are doing ok. Please reach out and let me know how I can help as I've learned a lot and am still doing so. After reading over 30 REI books, and a fantastic way to gain a solid base of the fundamentals of REI, but boots on the ground has enhanced every thing that I've read with real-world knowledge.

  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Dan Raphael:

    Hello, I am starting out after years on the sidelines. I have been an accidental landlord due to moving around in the military. I have also bought a couple of turnkey properties and realize I can't reach my goals through that method. I live in San Diego and things are very expensive here as everyone knows. I have a small son that makes traveling to other places for RE difficult but not impossible. House-hacking is out of the question for my family (long story here, not relevant). I am listening to the messages from BP sources and want to start with a small victory of a SFR rental out of state requiring minimal work to get it rented. From there, I plan to travel to do a rehab and then scale either in number of simultaneous rehabs, quality, doors, etc. That is my back-of-the-envelope plan. I am now committed to this since I have retired from the Navy and my focus can be completely on Real Estate. It's good to be here! I am open to ideas and suggestions for my journey. FYI-My goal is initially to realize a cash flow of $5K/month. Beyond that, my plans are less defined.

     I would recommend looking into Columbus, Ohio. I know many OOS investors that have landed here.

  • Investor · San Diego, CA · Member since 2013 · 23 posts · 21 votes
    6y

    Much appreciated Remington- I will do that.

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