Hello all- new to BP

[Brian Schmelzlen]

Hi. I live in San Diego, and am interested in learning more about investing. I am a CPA at a local firm, and I work with a number of people/businesses in the real estate and construction fields. I plan on turning my house (a single-family residence) into a rental in a few years, and buying a small office building both for my firm’s use and as a rental to other tenants. Long-term, I hope to own a few SFRs as well as some commercial properties. I discovered BiggerPockets through the podcast. I started listening a month ago and have listened to over 40 of them. I love all the information there, and hope to learn even more through this site.

[Dan H.]

Of my rentals, my ex-Home is my worse performing property.   This is even with a prop 13 benefit that results in a ~$3k/year savings.  

My house was purchased to be a good home for my family. It was not purchased to be a good RE investment property. It is a SFR that was purchased at approximately retail price without any calculations on its cash flow metrics.

It does cash flow but primarily because the equity position is high and the prop 13 savings. I think a SFR purchased at retail in the last 2 years would have negative cash flow at least for a while.

Good luck