All Forum Posts by: Andy Eakes

Hello SD BP! I am an investor in San Diego with 10 units. I just purchased two properties in Tulsa, OK and wanted to see if anyone else in San Diego is doing the same! Would love to connect and talk shop. Also looking to scale and always love hearing what other investors are up to!

Not investors, they are trying to relocate to Boise. Their in the process of getting approved for a loan now. Great clients, very qualified. Let me know who can help them out!

You need to talk to @Bill Exeter. He specializes in 1031 exchanges and is a very qualified CPA in San Diego.  

@Peter Lee Awesome! Good luck, let me know if you ever have any other questions about anything. 

@Kevin Rodriguez It might, depending on your wife's income. It certainly hurts a bit. Having the assets helps. A lender will be able to paint a good picture for you to help explain the options. 

@Peter Lee The city may issue a violation if they discover that you have been renting to a tenant in a unpermitted unit. But, it has been noted that demolition of unpermitted units has contributed to the housing crisis in CA, so I would be surprised if anything like that happened. In Sf, they even started a program where you can anonymously apply to permit illegal units. I'm curious if SD has one too. I have never dealt with something like this before, so I am not 100% sure. Worst case, you may have to wait until your friend moves out to have them come out. 

If you would like to discuss further, I am happy to talk. 

@Matt Morgan Hey Matt! Sounds like a great plan. There is one thing you may or may not be aware of when it comes to STR in San Diego county. Starting July 1, 2022, any STR, whether whole house or partial, will be subject to a Short Term Residential Occupancy Tax and Permit. The one downside is that outside of Mission Beach, San Diego, there will be a 1% limit for each neighborhood when it comes to permitting. Those in good standing with their neighbors and the city will have first priority.

I think it will be crucial you work with an agent who is familiar with this and has the knowledge to dig deep to see if Air BNBing Carlsbad will be a possibility in 1 year. I'm happy to help. Feel free to reach out if you'd like to talk more.  

@Kevin Rodriguez Hey Kevin sounds like you're in a great position! I second what Jason said. Get that money out with a conventional refi and put it to work. We are beginning to see a bit of a slow down with buyers in San Diego, this could be a great time to get back in the market depending on your goals and neighborhood of choice. 

I am happy to offer any advice I can if you would like to hop on a call. I have a great lender who can help you with your refi as well.  

Hey @Zachary Jensen Congrats on the first deal! Sounds like you got it at a great price too. What part of town? 

I have four units in North Park and am always looking to connect with other investors!