All Forum Posts by: Claudio Salvatorelli

I am interested in establishing a Short-Term Rental (STR) in Oceanside and noticed on the City website that STRs are permitted only in the Coastal area. I am considering hosting the rental myself and living next door.

Could anyone provide guidance on how to proceed under these circumstances? Specifically, does the regulation still apply if I am the host and reside adjacent to the rental property?

Thank you for your assistance.

 Market rent is about $2,200 per one of the units (under market rent), second around $3,000K or more per unit, and Airbnb only is making $75K a year, I know it's tough to cash flow, however, the idea is to negotiate the price and pay less than $2M, it is in located in a prime area, good for vacation rentals. 

 The current note is $400K

Lender.

@Vince Craig

1. Long-Term Rental (LTR): One unit is occupied by a tenant who will be vacating in the next month, providing an opportunity for updates or repositioning.
2. Short-Term Rental (STR) via Airbnb: Another unit is successfully operated as a short-term rental through Airbnb, offering a steady income stream.
3. Owner-Occupied Unit: The third unit is the owner's residence.

Key details:

• Rents are currently at market value.
• The property has the potential for rehabilitation, adding further value to the investment.

Hi BP Community,

We recently came across a triplex in San Diego currently listed for over $2M. Debt Service for that loan is about $400K and the seller is in need of paying that balloon loan ASAP.

Any ideas on how to structure a deal to seller finance the property without putting the $400K to settle that loan and helping the seller to solve their issue at the same time?

Thanks 

Yes, it's a long term hold.

Hey Paul,

My two cents of advice are to deeply check the area well, check the rent roll, go with a friend/contractor to check the condition of the property, and ask for Mello roos and taxes of the area.

As @Erik Estrada mentioned above there is possibly more inventory and people willing to sell so you can find that good investment opportunity.

Hope this helps,

Claudio Salvatorelli

@Brian Gwozdz

Where are you looking to buy the land? I recently acquired raw land just a couple of miles outside of San Diego County and dealt with another county it was a straightforward sale and learn a lot about permits and codes in that area.  

I think that it all depends on what use do you plan to do with the land and also the taxes and permits involved with it. If you need some more info let me know.

Cheers,

Claudio