San Diego Off Market MFR Deals

[Michael Conway]

I'm in the market for a 4-unit property in San Diego, CA.  I am starting the plan a direct mail campaign, do some driving for dollars, etc.  I was wondering if anyone has tips/tricks to help with making this successful.  Thanks!

[Lee Ripma]

@Michael Conway

I've been using agentpro247 to generate a list of all the properties I'm interested in, then mapping the list in using the google fusion tables georeferencing feature. I end up with a basemap of the streets with a dot at each property that matches my criteria, I can click on this dot and everything displays including the mailing address, property assessed value, etc. So starting with this "farm list" is an option for you. You can also drive around and map each property that is of interest to you. The City of San Diego has georeferenced zoning maps that show each parcel (download from Development Services https://www.sandiego.gov/development-services/zoning/zoninggridmap). If you drive around with that map open in the app "pdf maps" you'll know exactly where you are and you can take a note at any property within the app or you can simply write down the address. I also use the Theodolite app to snap a picture that is georeferenced with a date, time, location stamp and a custom note stamp with the address. Using the City of SD maps is also a good way to find properties that might not be at their "highest and best use" due to zoning. You could also think about maybe going for over 5 units, less competition! I really like the SD market, especially Normal Heights, North Park, Barrio Logan, Sherman Heights, and Golden Hill. Many of these areas have already turned, but I see a lot of opportunity south and east of downtown, especially with ocean views in Sherman Heights and Barrio Logan. I've been investing in Kansas City due to lower capital requirements but I'd love to do value-add projects in the mentioned neighborhoods in small MF or apartments. Best of luck!