Hello from SoCal !

[Nitin Dhiman]

Hello RE experts!

I'm super excited to join BP. Been soaking up BP articles and podcasts for several weeks. 

I have a SFR rental property in Austin, TX and I live in San Diego. I'm looking to aggressively buy couple more units in the next couple months. After looking at the cap rates in and around San Diego I'm not very encouraged, so I'm looking in Austin as well.

I also look forward to more commercial-type deals in the latter half of 2017. If you're in the greater San Diego area or in Austin, I'd love to hear from you.

Let's do this!!

Nitin

[Brett Snodgrass]

Hi @Nitin Dhiman, 

I'm not in Cali, but wanted to welcome you to the site and the community. Hope to see you around the forums.

[Patrick Anibaldi]

Hey Dude, Welcome to the BP hood. Im also in Socal, born and raised ( hence the dude language hahaha). 

Im also investing out of state. TX was a top choice but I felt the high prop taxes was a deal breaker. Im looking at GA instead. The appreciation cant be beat in Tx though.

Again Welcome! 

[Nitin Dhiman]

Thanks for the warm welcome guys. Lookin' forward to seeing you around the forums.

@Patrick Anibaldi, what's your opinion about the Temecula market for rental investing? Given that properties in my area (Del Mar) are super expensive, I'm giving myself a 1-hour driving radius for looking for investments.

[Patrick Anibaldi]

Hi Nitin, Ive owned a SFH rental in Temecula and I also live in Temecula. Though Temecula is a great family town, tons of jobs, low crime, with access to San Diego and Orange county in under an hour, I would consider other opportunities. If you are looking for appreciation only with entry levels half the cost of Del Mar then maybe Temecula is right for you.

Buying a property in todays market would be tough to cashflow in Temecula. Values have doubled since I purchased mine 8 years ago. Rents have only increased 20%. So my rental that is valued at $400k is renting for $2k, this is 0.5%. Assuming your financing the purchase, you would be lucky to break even every month.

There are some successfull flippers in town, but I dont think the buy/hold strategy would work very well here. That is true for California in general. BP blog just came out with an article rating real estate markets. I suggest you study that and soak it in. Dallas TX was #1 so your intuition isnt that far off with Austin.

I would recommend out-of-state rentals, I think you will get more return for your investment dollar. Send me a PM and we can talk more.

[Jason Hirko]

@Nitin Dhiman Welcome - Let me know if I can give you any help in Austin

[Michael Rheaume]

Welcome @Nitin Dhiman! Newbie investor here in SD.

[Account Closed]

Hi @Nitin Dhiman, I am here in San Diego open to any questions or discussion, or future business over coffee or something. my first discussion will be why all this people keep  writing o san diego is no good bla bla, I keep finding deals daily. and selling a few of my out of state moving into San Diego and Orange more and more its a great market, that its been proven to not decline as much as other markets in any of the crashes since 1920s. its been going up ?, Caps might be low but if you run the numbers as a 5 year investment, they pencil out better( some not all before I get attack )

[Bobby Rather]

@Nitin Dhiman Welcome! I am also in the San Diego and available for discussion over coffee. In fact I run a meetup for that (linked below). 

http://meetu.ps/e/C6Rj8/vPtkh/a

There are some other good meetups in the area too. BP is a great way to connect and learn REI, but we still have to get out there and meet others.

[Dan Velazquez]

Nitin

I recently purchased a SFH rental in Temecula and a 4 plex in Murrieta this year. They are actually a slightly negative cash flow. I'll probably get bashed for this, but I came with no money out of pocket due to various refinancing for the down payments and financing the remaining for the purchase. I plan to raise rents every year as this is a long term investment. Good luck!

[Kevin Fox]

Hey @Nitin Dhiman

Welcome to BP!

Happy to chat about REI in San Diego anytime, so don't hesitate to reach out.

I also co-host an event each month with a few other local BP members which meets at a different active investment deal every month and goes through the details. It's a great way to learn and network, so I'm hoping you can make it out. 

Let me know if you'd like more info!