All Forum Posts by: Adam King

Hi @Sudhi Avula,

I have helped multiple buyers this year purchase STR here in San Diego. I agree with Dan that it is not easy to make it work, I have helped my clients make it work with differing strategies.

To make sure that it would make sense for you to buy here:

Reasons to buy:

- Strong year round demand, with amazing weather relative to the rest of the country, we rarely see a substantial slow down.

- Relatively high overall income potential, factored with long term appreciation can lead to a very sold IRR (internal rate of return)

- Permit requirements = Clearly defined set of rules to operate within, leveling the playing field for all owners.

Now for the reasons not to buy:

- High entry cost, this barrier is untenable for many as the down payment can be $200k or more.

- High operating costs, if you are not an owner operator expect to pay upwards of 25% in management fees

- Permit requirements, if you fail to operate within the defined rule set, you risk losing your permit and therefor losing your profitability.

I hope that you found this helpful.

Reach out to me if you want more information!

I highly recommend @Ryan Hall

(619)-799-8152

[email protected]

Amazing work and a great communicator

 Hi @Juan Esteban sola

This is a great place to start your journey.

If I were to start all over again, here is the advice I would give myself:

Narrow down your strategy to a few that you will think works, read books, listen to podcasts, and reach out to local investors currently working in your desired  field. 

With so many strategies out there it can be overwhelming, but a few good places to start are House hacking, and PML with flippers that you may know.

Finding a mentor to work with can also be a great avenue to take. I was fortunate enough to work for my dad who flipped homes for decades, and as a realtor I have had a few great mentors.

If you have any questions I am always here to help!

Hi @Joshua Ruse,

I am also a San Diego realtor/investor/flipper. I have always stuck to the 70% rule, but recently I have been seeing more and more deals getting picked up at ~80%. In my opinion that doesn't work, but somebody is buying them. 

They way I see it, is the only people making money are the wholesalers (GG homes, VREV, Etc)

I have had success recently purchasing homes right off of the MLS that are much closer to the 70% than any wholesale deal I have seen recently.

I would love to talk strategy with you if you want to meet with a like minded investor!

If you look in the pro discounts section, you can enroll. and it only takes about 1 minute to complete

Hi @Andres F.

These are two very different asset classes, each with unique advantages and drawbacks. Let’s break down the pros and cons of each when compared side by side:

Condo

Pros:

• Lower barrier to entry: typically requires a smaller down payment and results in lower monthly mortgage payments.

• Minimal overhead: utilities like water, trash, and landscaping are often included in HOA dues.

• No landlord responsibilities: you won’t need to manage tenants or deal with non-payment issues.

Cons:

• HOA management can sometimes be unpredictable or problematic.

• Long-term rental income growth is generally weaker compared to a duplex, especially if your goal is to hold and rent the property over time.

Duplex

Pros:

• Rental income from one unit helps offset your mortgage; rental rates are likely to increase over time, lowering your net monthly cost.

• Higher purchase price can translate into greater long-term appreciation.

• No HOA or associated fees.

Cons:

• Higher upfront costs: larger down payment and closing expenses.

• Being a landlord involves active management — and it’s not always fun or easy.

Which asset would I choose?
It ultimately comes down to two key factors: what I can comfortably afford, and whether or not I want to take on the role of landlord.

If you’re leaning toward multifamily, your realistic next step is to speak with a lender to understand what you qualify for — that will give you a clear path forward.

These are 2 very different asset classes but I will break down the pros and cons of each in relation to each other.

Condo:

Pros:

Lowest barrier to entry in both down payment and overall mortgage payments.

Minimal overhead, it is likely that water, trash, and landscaping are covered as part of your HOA dues.

You don't have to be a landlord or worry about tenants not paying

Cons:

Having an HoA can be problematic depending on who is managing it

Long term rental growth is not as good as a duplex if you intend to hold onto the property and rent it out in the future

Duplex:

Pros:

Tenant paying a portion of your mortgage, and rent is likely to increase long term reducing your net monthly payment

higher purchase price is likely to lead to higher long term appreciation

No HOA

Cons:

higher initial cost in the form of down payment and closing costs

being a landlord is a job, and it is not fun

The question on which asset I would go for, really depend son what I can comfortably afford, and whether or not I want to be a landlord. 

If the answer to that question for you is multifamily, talking to a lender to see what ou qualify for is going to be the realistic next step.
 

Hi @Teresa Madrid, welcome to Bigger Pockets — great to have you here! I’m a local San Diego realtor and work with a lot of investors, especially those looking to buy out of state. Since you’re planning to relocate and want to purchase your first long-term rental this year, here are a few tips that might help:

1️⃣ Consider buying in the area you plan to move to — it can be easier to manage locally once you’re settled, and you’ll already know the market firsthand.
2️⃣ Choose landlord-friendly states & markets with strong population and job growth.
3️⃣ Build a trusted local team (property manager, investor-friendly agent, lender, contractor), especially if buying before your move.
4️⃣ Start simple — a single-family or small multi-family can be easier to manage remotely and a great first step.

If you’d like, I’m happy to share some market suggestions or introduce you to great local agents in areas you’re considering. Just shoot me a message — happy to help!

Hi @Ben Callahan

My name is Adam King, and I invest here in San Diego and in a couple out-of-state markets as well

I really appreciate the post, as I think almost every investor goes through this stage (I definitely did early on). I’ve been investing for a while now and analysis paralysis was probably my biggest hurdle when I was starting, and can still effect me to this day.

One mindset shift that really helped me: instead of chasing the 'perfect deal,' I focused on finding a deal that would move me forward and teach me something. The first one didn’t need to be a grand slam — it just needed to get me in the game and build momentum. Once I looked at it that way, it took a lot of pressure off and made it easier to take action.

I also found that getting super clear on my buy box helped cut through a lot of the noise. It’s really easy to waste time chasing deals that don’t quite fit — once I narrowed my focus to a few markets and a strategy that aligned with my goals, everything got simpler.

And honestly — having a small circle of other investors to bounce ideas off of was a game changer. Just having a few people to sanity-check deals or talk through decision points really helped me move from endless analysis into actually making offers.

Your first deal probably won’t be perfect — and that’s totally fine. The experience you gain is what sets you up to make better decisions on the next ones. The skills and relationships are what really compound over time.

Curious what markets and strategies you’re looking at — always great to connect with others working through this! And if anyone reading this wants to compare notes or talk through deal analysis sometime, feel free to shoot me a message. Always happy to chat with fellow investors.

Cheers,
Adam King

Hi @Kwok Wong,

When attempting to "Double-Dip" it is a good idea to remember that the Listing agent only has a fiduciary responsibility to the seller. With the changes to NAR rules as of last year, some brokerages are avoiding dual agency to avoid any potential law suits.

In situations like this, which are likely to be more common, you can go with a real estate attorney, or find a local agent who is will to represent you, either at a discount, or willing to credit you back a portion of their commission.

This can be done with non-exclusive buyer representation agreements, property specific exclusive agreements, and property specific non-exclusive agreements.

Without knowing the exact type of properties that you are buying it is hard to say what strategy will work best, but you may find it beneficial to interview a few agents, and just run all of the offers through whichever agent fits your needs the best. A good working relationship may lead to good off market deals!

@Ryan Hall is an amazing contractor. I am sure he would love to help you out!