All Forum Posts by: Adam King

I highly reccomend @Ryan Hall. He is best contractor I have had the pleasure working with.

I highly reccommend @Ryan Hall He does amazing work!

Hi @Christian Gibbs, as @John Burke said. You best bet is to contact a realtor, and have them run comps (most will do it for free). If the value is there to where you currently own 20% or more, then you should reach out to the lender and ask them to schedule an appraisal.

Keep in mind that appraisal is not free, likely ~$600 depending on who they choose. With that being said, having the comps that your agent has provided you ready for that appraiser can go a long way to make sure you get your desired outcome. 

Hi @Alan Kopmeyer,

My name is Adam King, I am a lifelong San Diegan. In real estate I am an avid investor. I have done flips, buy and hold, LTR/MTR/STR, and I have house hacked every home I have ever owned (even though it annoyed my wife).

I would love to answer any questions that you may have, especially in regards to the "house waking" strategy. This is where you buy, live in, rent it out, repeat. That strategy is what I have been doing for my last few home purchases, and will hopefully allow me to retire by 55.

I look forward to helping you!

Hi @Samuel Koekkoek it seems as though most of your questions have been answered.

My name is Adam King, I am a lifelong San Diegan. I have investments all over the city in multiple asset classes. Some cash flow amazingly, and some lose money every month, but they all serve a purpose.

As some have said, if you buy a Duplex your monthly payment after taking in rent from the other side will likely be close to what you are currently paying. Which for 200k or more down, may not seem like a great idea.

Conversely, a strategy that myself and several clients have used lately is value add. Find a duplex or even SFR that has ample room and zoning to add more units. Build extra units, at least one, but preferably as many as zoning will allow.

Doing this does 3 things to help you in the long run.

-Increases the Value of the property, almost always by at least the invested amount, in many areas of San Diego, it can increase the value of the property by as much as 150% of the invested amount

-Decreases your risk profile, having 4 units instead of 2, helps stabilize your rental revenue when vacancies and repairs have to happen.

-The large Capital improvement to the property greatly increases the basis for which you are able to depreciate the property. This tax savings can be huge when you are self managing, but still very useful for when you want to leave the state and have some property management company run it for you.

If you have any more questions, feel free to ask me. I would love to help!

HI @Cody Garcia,

I am an Agent here in San Diego. I Primarily work with investors to help them find good deals, both off and on market. Having a decade of experience flipping homes myself, I also help investors who may not have the time to be in the flip every day. I help with everything from showing new flippers how to lay down new floors, to operating as a project manager for full flips.

I would love to connect with you to see how I can help you.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Faubush.

Purchase price: $750,000
Cash invested: $26,250

I helped my clients find and purchase a fixer duplex to serve as their starter home. I was able to save my clients a lot of money through aggressive and strategic negotiations. I was able to get them $9,000 off of the asking price, and a $30,000 concession to cover closing costs and a rate buydown further increasing their cash flow. I was also able to get the seller to provide all new furnaces for the two sides.

How did you find this deal and how did you negotiate it?

This deal was found on the MLS, I negotiated very aggressively and paid off in a big way for my clients.

How did you finance this deal?

This deal was financed with and FHA loan

How did you add value to the deal?

I added value to this deal by negotiating with the sellers to credit us $30,000 and to pay for all of the necessary fixes during escrow.

The real value add though is in the capabilities of the property. My clients are going to be fixing up both sides of the duplex, and add another duplex in the back of the lot, for a massive increase in value and revenue in the future.

Hi @Namal Burman

My name is Adam King, and while there is no official flow chart as every deal is different, There is an order of operations that I follow whenever I am looking for investment properties. Every step you want to narrow down the search in a meaningful way. For me this involves making a lot of spreadsheets, but I will give you the outline.

1)Establish risk capacity and tolerance: Capacity=how much can you afford, and tolerance=what you actually feel safe spending

2)Use that information to narrow down what is available to buy: The amount will buy you a duplex in PB with 2 1/1's, will also get you a 4plex in Lemon Grove with 4 2/1's

3)From there do the research on all of the available units that fit your criteria: This includes, but is not limited to, historical data on appreciation, market rents, historical rental data, and migration trends.

4)Don't be afraid to wait for the right property

I hope that I was able to simplify my process for you in a way that is helpful. Reach out to me if you have any questions, I love to help!

Welcome @Mitch Wilmoth!

My name is Adam King, and I am a lifelong San Diegan. I have never done an out of state fix and flip, so I don't even know where to begin helping you there. 

With that being said, I have been involved in over 50 Flips here in San Diego. This encompasses everything from studio condo's to multimillion dollar beach front homes, and everything in between. 

While I no longer work in the fix n flips myself. I still enjoy connecting with and helping people in any way that I can. Everything that I know I willingly share for free to anyone who wants to get their start in flipping. I also still have a ton of connections that can help make any flip here in town as smooth as possible.

TLDR: It is nice to meet you, I have done lot of flips here in town, I would love to help you out!

I am a lifelong San Diegan. I have been involved in Real Estate for over 15 years, but I became serious as an investor in 2013. For my personal investment journey I have done flips, buy and hold, BRRR, and wholesale. Since being licensed I have I helped clients with flips, buy and hold, multifamily, developmental deals, land, and BRRR. From being in the industry for a long time I have the contact's and the knowledge to help anyone get from start to finish on their investment here in San Diego.