All Forum Posts by: Account Closed

@Spencer Cornelia Thanks for the thoughtful response! I think that's kind of the hunch I was getting; a big success for me would be living for $200 a month rather than cash flowing thousands right off the bat in this market. 

As I mentioned, a traditional mortgage loan won't qualify me for much given my income, so would a seller financed deal be the ideal possibility? Something where I become responsible for the managing rent and tenants but basically provide a monthly check to the seller, like you mentioned.

I'm thinking it might be more important then to focus on networking in the area first to get to know more people working real estate in San Diego so that I'm not just hoping for a deal to fall into my lap. I was looking at real estate meetups in the area: is that the best way to get my feet wet with trying to contribute something to this community and network?

Hi all! I've been spending the last few weeks reading a lot more about investment properties and learning about the world of real estate. I've spent a lot of time on the forums here and listening to the BP podcast. I really like the possibilities that real estate investment opens up, of course, but I was hoping to get spark a little discussion on the San Diego market in particular. I recently graduated from college and began working full time here in San Diego, and I can see myself staying here for a while. 

From what I've read so far, it seems that some form of house hacking would be the best first step for me. I've been looking at 2-3br apartments, condos, and townhomes in the Mira Mesa/Sorrento Valley/La Jolla university area where I could have renters living with me in the other bedrooms. However, it kind of seems that the market is just not in my favor right now. I'm finding it difficult to find places where monthly rent for the property covers the mortgage, much less any maintenance and fees or cash flow. Obviously San Diego is really competitive, but is this just the wrong strategy for this area? Am I out of luck in San Diego given my newbie status, or do I just need to stick with it to find the right deal? I spoke with a local agency and they believe it's still a viable situation given where interest rates are right now and that the market is back to "neutral" from the strong seller's market, but I don't know if I'm just better off investing outside of San Diego to gain benefits from REI.

I'd love to hear your thoughts!