I’m a newer investor in San Diego and am looking to network and develop a team to put together deals. I’ve been sitting back reading this site for a while and see that several of us (especially on the West Coast) are in the same boat.

We’re inspired to pursue Rich Dad’s dream and started by reading books, researching online and reading / listening to Bigger Pockets
We probably have some money, but not the kind that goes very far in Southern California
We curious about investing out-of-state but may not know which market to choose or who to trust
We feel a bit overwhelmed about the different options and can’t pinpoint where to start

A lot of that sounds like me too! I’m a married father of three (all under 5 yrs) with a good job and a spouse who likes the idea of financial freedom but is risk averse when it comes to investing. I have 4 deals under my belt (with a varying range of success) and have learned lessons from each.I’ve spent the last few years building my family and career and would now like to devote my energy into something that can finance my lifestyle without having to continue working for The Man. Eventually I want to quit my job and live off passive income, but for now I want to continue building my portfolio.

Below are the different deals I’ve worked on:

Deal #1 (2004): Out of State Gut Rehab. Partnered with a college roommate to finance his project. We were in way over our heads but still ended up making a few bucks. We turned a dilapidated bakery into a 2 bedroom condo in Kansas City. He was on the ground and I helped finance the deal.

Deal #2 (2006) Beach condo with no money down, in San Diego, at the peak of the market. Yikes! The mistakes were plentiful on this one, but after living there for 2 years, I was able to rent it for another 7, and learned a lot about being a landlord and the importance of cash flow. I made it out of this one in 2016 when the market started to recover, but learned valuable lessons.

Deal #3 (2011) 1st SFH, primary residence. As newlyweds, we started doing things right with this property. We shopped for a long time, purchased conventionally and made additional mortgage payments. Along with minor cosmetic fixes, we rehabbed the kitchen, a bath and all the floors, then sold the house 5 years later for a 40% profit, which we rolled into our next primary residence.

Deal #4 (2016-present): Invested in MFH Syndication in San Antonio: I wanted to invest but was busy with 2 kids under 2 years old. I’ve learned a lot about how deals are structured and marketing to investors while making quarterly cash flow. The deal seems to be working, but I’m not learning as much and the returns don’t look like they’ll get me out of the hamster wheel. It’s easy and completely passive, but I have no control and am not learning how to repeat the process on my own.

So there's my background. I'm interested in networking, developing a team and being added to buyer lists. If nothing else, I'd like to bounce around ideas with someone other than my infant son or dog. I still need to refine my criteria but I like the suggestions I read on this site. I'm drawn towards BRRRR and MFH, but am open to ideas that will accumulate cash flow. I like Phoenix, Vegas, and San Diego because of the proximity but am reluctant about the timing because those markets are red hot right now. Maybe the Midwest markets are a better play right now, but I'm looking for ideas.

I’ve learned a lot so far on Bigger Pockets and look forward to more interaction with you all.

New Investor in San Diego

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