New member for San Diego, CA

[Brandon Chipman]

Hello Everyone!

I learned about this website after a mass download of podcasts for an up-and-back drive to WA, my home state. After the first day, the Bigger Pockets show stood out and I downloaded the other eight, and here I am.

I've been interested in Real Estate for a few years now and recently bought my first home March 2012. I'm in the Marines and get out in two years without any intention to stay in the San Diego area past getting my graduate degree, if that's the direction I decide to go. So my time in this market is 2-4 years.

I bought my house with the intent to rent it out as an income property when my wife and I left. Bought the house and then started researching rental properties and valuation practices for them. Definitely the wrong order. Turns out my DSC Ratio is 0.7, and buying a house through the zero down VA program that you wish to invest in is a bad idea. Re-ran some basic numbers if I was able to pay down the mortgage over the next four years to get 20% equity and refinanced without taking out equity, my DSC Ratio would only come up to 1.0 with a 4.1% cap rate. Also, the cash flow would still be slightly negative. Looks like I made my first real estate mistake already. haha

Not sure what I can do to turn this property around, my wife is not open to moving before we leave the area, so I joined this site with the hope to gain ideas and experience so I don't get put in a spot like this again. Very interested in the passive income power of real estate and its use as an inflation hedge; as inflation is an inevitability in the mid-term future.

A long introduction, I know, but I'm very interested in the potential this site represents and look forward to being an active member.

Thanks,
Brandon Chipman