All Forum Posts by: Casey Murray

@Thomas Lee Malpass What exactly are you looking for? Are your actively investing or looking for partners to get your first deal? Feel free to message me.

@Kyle Marek You make your money when you buy is the general rule of thumb but it doesn't apply in all situations. Check out BP Podcast 278 where the guest talks about buying MF properties at retail price but still coming out with a deal because he knew the market. His market is Denver which I view as comparable conditions as San Diego. The 203k loan is a great option if you have a property needing rehab work and you need the capital. Hope this helps!

@Kyle Marek My experience has been really good so far. The value is really in the rehab to raise rents and property value. Expensive housing market means increased rents. Be very familiar with your market rents since under advertised rents could be the difference in a deal. 

Hi @Christopher Gallardo, I agree since the rising housing market is pushing people more inland. I feel there's more runway to raise rents and property value through rehabbing properties in this pocket of San Diego. I'm curious what investors see for market rents in the area. I know rental amounts vary depending on property condition. Thanks for commenting. 

@Kyle Marek welcome to BP! If you choose San Diego, you're in for a treat since the beaches are top notch!

@Charles Curley welcome to BP! First and foremost, thank you for your service. I'd continue to read the amazing content here on BP but also recommend to attend local REIA's to meet investors; they typically waive the entrance fee your first time around. Also, you have a huge advantage purchasing a property with a VA loan. Let me know if you have any questions!

Please message me if you're familiar with market rents in the 92102 area code. I've already researched rents on Craigslist, Rentometer and the MLS, just want to connect with a local investor. Thanks in advance!

@Nobu Ajito Cash flow is admittedly tough at first sight but my experience in analyzing properties and talking with other investors is that cash flow is maximized by rehabbing the property; not to mention the increase in property value. Market rents are increasing here in San Diego since more people are forced to rent due to our housing market. I agree with your approach on investing in multi family as opposed to SFR.

I meant 203k instead of 403k for the FHA loan, got ahead of myself!

Golden Hill/Normal Heights are good markets since North Park and Hillcrest are becoming too expensive for folks. 

Feel free to message me for any questions! 

@Nobu Ajito A 100 properties sure seems time consuming! More properties certainly diversifies your risk assuming you're in markets with relatively low vacancy rates (like Southern CA). Have you defined your goals in terms of what kind of properties these are (single family homes, multi family, commercial, mobile homes, etc.)?

The FHA loan is great way to buy a multifamily. FHA also offers an additional loan called the 403k loan to help fund your rehab. Which markets in San Diego are you interested in buying?

@Nobu Ajito welcome to BP; it's a wealth of information on this site! How did you arrive at the goal of 100 properties? Are you focusing on a desired cash flow amount? If so, you could very well get to that goal before 100 properties. Also, which "occupancy requirement" are you referring to? If it's to exclude tax on the sale of the property, you need to have the property as your primary residence for 2 years.