All Forum Posts by: Casey Murray

@Adam Regos Yes, I went with Brandon Hall who also writes articles for BP. 

@Krystle Moore This is a great post with all the detail you provided; congratulations on this value add play! I love that you're adding a 1/2 bath on the downstairs unit and adding a laundry unit upstairs along with permitting the ADU. The San Diego market is competitive (especially with record low inventory) so investors have to get creative to achieve the highest and best use of a property and ultimately maximize cash flow. We do this and I love the challenge of getting creative!

Just out of curiosity, what cap rate did you buy this property at? I presume the National City cap rate is around 4.5% depending on location. I ask about the cap rate because perhaps you bought at or below market cap but knowing the true value of the property by getting creative, the purchase price cap rate isn't a big deal. I've come to find this on my recent purchases where some people think I'm overpaying but when you have insight and knowledge on the true value, you can afford to offer a higher purchase price. 

@Dan H. Maybe something like this can be the next deal for you and Carol!

@Khen S. I've done a couple ADU conversions here in San Diego. I'd recommend getting an ADU consultant that knows ADU rules very well. Either way, you're doing the right thing to convert and permit ADU's. It's a cost efficient way to add units and maximize cash flow; not to mention the increase in property value. Best of luck.

I have a few questions for multi family investors (5+ units) active in the Sacramento market. Please message me. I'm an active RE investor here in San Diego and curious about the Sacramento market on a micro level. Thanks!

Hi BP! My little sister got accepted to the psychology department at Cal State University Northridge (or as I've learned, the cool kids call it CSUN). I'm helping her and her friend that she'll be living with find a 2 bedroom apartment/house close to the campus. They're looking to rent as early as May and latest of mid-July of this year

Please message me if you have a property available for rent. Thanks in advance!

Casey

@Isaiah Ortiz-Hoyle Welcome to BP! I'm a member at the North San Diego Real Estate Investment Club (NSDREI) that meets monthly in Oceanside. It's a great club. Shoot me a message with any questions!

@Jeremy Young Welcome to BP! Check out local REIA's out here and talk to investors doing things. I really like the NSDREIA that meets in Oceanside. Happy investing!

@Brian Carignan Interesting to hear about unique loans for doctors. We closed escrow a couple weeks ago on a SFR with detached ADU as an investment property. I think it's more common now to have properties with ADU's per recent change in California legislature but need to know how each city treats ADU's which varies across San Diego county.

Hi BP, has anyone had success in luxury house hacking in the San Diego area, specifically coastal north county (Del Mar-Carlsbad)? It's best to invest where numbers make sense but live where you want. Luxury house hacking combines the two and seems interesting especially with the progression of ADU laws in certain San Diego cities (and not in certain cities). Thanks in advance!

@Glen Gallo What about selling via 1031 exchange and pulling equity out from the replacement property to pay the note. Rates are pretty low.