All Forum Posts by: Cody L.

What language or lingo did county assessor’s use to describe detached secondary living units with bathrooms in the 1950’s/1960’s in California? Would the unit have been described as a Granny unit, Granny flat, bungalow? I suspect states would have different descriptions. I’m looking in California. What have you seen?

I'm surprised that the woke mob, with their strangle hold over CA, hasn't changed all these terms to be more """" inclusive """". The fact the term 'landlord' and 'master bedroom' and 'mother in law suite" is allowed in California is shocking (I'm being honest).

The state that says "pregnant person" rather than "pregnant woman" should have 'refreshed' RE terms by now.

0 Votes

San Luis Obispo, California

What are the rents? 'How in the name of Zeus' butthole' do you cash flow on a triplex that's $2m?

(quote from a movie that's in my top 5 list:

0 Votes

San Diego, California

Quote from @Dan H.:

Quote from @Carlos Ptriawan:

Quote from @James Hamling:

Quote from @Carlos Ptriawan:

All around San Diego all I see is a lot of working class poor, oh a few wealthy people, a whole ton more working class poor, another wealthy person. I don't know the ratios but just from experiences going around San Diego, I'd guess it's like 1,000:1. There is a ton of people just scrapping by, holding on by skin of there teeth. Yet ALL the homes are really REALLY expensive in comparison to what the majority of the working class are making.

That does matter, it matters a lot.

so if you see the Fed chart we know two things:
1. money are expanding
2. the wealth of 1% is also expanding by a lot
which means the top 10% money is being controlled the top 10% , that's why it's not being captured in income to mortgage.

Just look at this one fund that's purchasing thousand homes in Ohio last month, they are not coming from income but they come from HNW income that's seeking yield. Home price is no longer driven by income level.

As of price in UK compare to US I will send you one different chart later lol

>Home price is no longer driven by income level.

in San Diego the home prices have not been driven by income for decades. The term sunshine tax has existed at least 40 years. It is driven by supply and demand.

Wealthy Retirees come here to enjoy their retirement. If they want to retire here, they must be able to afford the life style they want here. Same for techies that can work from anywhere. If they have the money/income to live in San Diego based on wages elsewhere, then they can live a great life in a great city. The average San Diego household wage cannot afford to live in this city.

The far left (mostly city of San Diego) tries to solve this by incentivizing low cost housing but the unit count that they can support is too low to make much of a dent and the incentives are not popular with the NIMBYs and I can understand why. For example 2 popular ways to incentivize is 1) to allow occupancy beyond zoning limits. So you get 12 plexes in SFH zoning. 2) to increase the height limit to fit more or larger units on the lot. So you can live in your 1 or 2 story SFH next door to a six story residential structure if the developer agrees that a certain number of the new units are deed restricted for affordable housing. The city of San Diego is more extreme than the other jurisdictions in San Diego county and more extreme than the state (meaning more left than the left state government). When affordable housing come up for rent there are hundreds if not thousands of applicants. Getting selected is like winning the lottery.

the reality is the unaffordable housing is solved for most people (those not lucky enough to get selected for affordable housing) by higher occupancy housing. Most areas (some believe it is state mandated but I believe they are incorrect) do not allow occupancy limits below 2 per BR plus one. 2 BR must allow at least 5 tenants, 3 BR must allow at least 7 tenants. I have multiple units at this maximum capacity and when I get a free unit I virtually always get requests for occupancy above quota. This is even in small units as my last open unit was a 2 BR, 1 bath, <700’ unit. I had multiple inquiries for more than 5 tenants including one for 7 tenants saying that they could not find anything that they could afford (meaning they could not afford the 3 BR units. There are multiple families living in a single home.

instead of incentivizing affordable housing for the few lucky enough to get it, they should look to help more people but less help than the lucky few who get selected for affordable housing are getting. Obtaining deed restricted affordable housing in San Diego is like winning the lottery. Also once you obtain such housing if your income grows enough that you no longer qualify, you can stay in your affordable housing. Basically if you get selected for affordable housing, you have low cost housing as long as you stay in that unit which could be your entire life.

San diego is more geographically constrained than virtually all cities. It is already mostly built out. There is minimal infill property left and what is left is no easy to develop. So supply is very constrained/limited. The climate is possibly best in the nation. We have ocean, desert, mountains (a few miles outside the county is Mt Toro at 8,700’) all in the county. We have big city social activities as well as great camping, fishing, 4x4 areas, etc. basically there is a lot of reasons for high demand. High demand, low supply equates to expensive market (the sunshine tax).

good luck

I've been all over the US (and many parts of the world). Not many places I like more than San Diego. And none in the US (for a main full time home).

It is expensive. No doubt. But if you can afford it, it's worth it. My bedroom is up high in my house and we back into a canyon with views of the ocean. So every night I look out over the city/water. It makes that giant property tax / mortgage payment almost worth it.

(still a crappy place to buy rental property IMO though :) : ) :)

3 Votes

Quote from @Nate Marshall:

Quote from @Cody L.:

Quote from @Nate Marshall:

Just yesterday I had conversations with 3 separate experienced real estate investors and Pace came up. The gators continue to prove to be predators. This is beyond predatory lending. Very mafia like type of lending. Most of the gator incel bois don't even have money to lend. They're like corner boys for the local drug boss.

I think the guy is just sort of an attention wh*re like so many 'experts' on youtube. But if people want to buy his classes then so be it.

But I'm not sure why you (Nate) have this guttural hate for the guy. Like he kicked your dog or something. I don't even know what 'gator' is but what's with the 'incel bois' ?

You realize you're not going to convince any Pace superfan (like the dude who takes a picture like a 14 year old girl meeting Taylor Swift) that his program is bad when you go way over the edge. Just use plain language and facts to show them the other side of the argument. And if they don't believe you and want to stick with Pace -- big deal. Let them.

Same reason as why I hate child molesters, ISIS and HAMAS!

This is the only time I've said this on a BP comment (or any forum). You need professional help. And again, I'm someone that thinks this sub2 guy is a toolbag. But that doesn't mean people who structure those types of deals are in anyway like a child molestory or terrorist. wtf is wrong with you?

2 Votes

Quote from @Nate Marshall:

0 Votes

First two comments telling OP to check for zoning in a city that has no zoning...

Susan, your best best is to reach out to a local architect / builder. They're going to tell you what you can build and what it might cost. There isn't much you'll get in the way of info via posts on BP

1 Vote

Houston, Texas

If you're looking to sell I'd strongly suggest just posting the address and some info (what are you looking for it? Pics? What is the current rent?). Lots of people might see it and be interested but just not want to bother with reaching out.

Also, if you know someone that's a realtor ask them to toss it on HAR. Wider net and all that

0 Votes

Houston, Texas

Quote from @Deb S.:

@Nate Marshall you're funny. I'm not paid anything. Just a member of the subto community.

Taking pictures with this youtube guru guy like he's a celeb... Yikes.

0 Votes

Quote from @Catrin Caxie Primacio:

Hi Everyone! I hope all is well!

My name is Caxie based out of Houston, TX.

I wanted to share my experience about real estate and how's my journey been.

I started back in the late 2020s, I was 19 years old at the time, I recently graduating from high school. (I'm 21 now about to turn 22 in November)

I didn't know what kind of path I wanted to pursue other than what my family has encourage me to do (medical field).

I started my real estate journey as a wholesaler here in Houston, TX mainly working for a wholesaling company as acquisitions, dispositions, and title coordinator.

I did closed a few deals here and there working for these companies whether wholesaling houses/land.

I thought it would be a great start to know the ins and outs of wholesaling company, how to be a business owner, a leader, the whole process, and so much more. Throughout the years of being a wholesaler, I have started thinking about getting my first multi family property and actually be a real estate investor. I've never bought a single family home, or fix and flip a home so this will be a new journey for me.

I found a deal 10 units in Houston, TX in a great upcoming area. Some of the units are fully renovated, the current owner has done most of the rehab regarding to structure, painting, new roof, plumbing, electricity, and etc.

Working my way to the process of purchasing this property, the most important part is financing. I'm excited to get a little bit closer and closer to be the new owner but the hard part is not done.

I'll keep you posted on how everything goes. I'm looking at other multi family properties as well in the Houston, TX area.

The more and merrier.

Any Investors that would like to connect. Let's connect, I would love to hear your journey and learn!

Did you end up buying this 10 unit? If so, can you share the address and how it's going?

If not, can you share what caused you to pass on the deal?

0 Votes

Houston, Texas

Quote from @Account Closed:

Quote from @Cody L.:

Quote from @William Dennis:

I've been apart of numerous real estate programs that said that they're community driven and I never felt like it was a true community were people truly cared and helped one another, until I joined Pace Morby's Subto 2 Community. Pace is truly a community leader and trend setter in the real estate space. Just about everyone in the Subto family has the same mindset as the leader and whatever you need to become not just an investor, but a great human being is in the community. Pace adds so much value to our community that sometimes it's over welming!!! It's not just learning creative financing to aquire real estate, but cars, businesses and understanding who you are as an investor and what your true strengths are as well as your weaknesses. To know that for anything you need is just a Facebook post or Phone call or text away to the community, it's a blessing. More than a program, but a way of becoming who you were meant to be,, that's Subto.

I find it odd that of the gushing replies that support this guru, most of them are people who have this as their very first comment. Like the Pace army came to BP to say nice things.

Where are all the comments from people who are active in the BP community?

Not only that, it's a lot of "copy & paste" that someone pre-wrote. And, a new post appears just when interest has died down. Very interesting in the timing. It gets a little wearisome. There must be a contest with a reward they are offering. And None of them can seem to verify a property they have actually bought.

I watched a few of his videos and I was not impressed with the focus on over leveraging and using unsophisticated lenders in 2nd position while not using escrow or title. Seems very strange. What could possibly be the reason / benefit to over leveraging and not using title when using unsuspecting, oops I mean "newbie" lenders?

Well to be fair, when I was starting I did a lot of 'unconventional' things to be able to buy and build/grow. But I wasn't trying to charge to teach others a system. I was doing "sub 2" before some dork wore a hat with a peace sign on it as a logo.

If I found someone with a $500k home he wanted to sell, and he owed $400k, I might offer him $100k and we'd wrap the $400k into a nwe loan. Or maybe he only owed $250k so I'd give him $100k, pay his loan payment, and do a new loan with him for $50k. Or do the loan with him for $150k and he paid his loan from it.

Whatever I could do to make a deal work when I had a seller wanting to sell as I wanted to buy and when I started (2008) getting a new loan (especially for me) was almost impossible.

So I don't hate on people doing 'sub 2'. I just hate the guru's and fake posts it creates.

1 Vote

All Forum Posts by: Cody L.

Cody L. has started 34 posts and replied 3651 times.

Post: 1950’s era County Assessor lingo: Granny, Flat, in-law?

Post: Seller financing ideas

Post: Are we the last generation of landlord ?

Post: Pace Morby Mentorship

Post: Pace Morby Mentorship

Post: I want to convert a tiny single family house into a 2plex, 3plex, or maybe 4plex

Post: Want to Sell my income generating property ASAP

Post: Pace Morby Mentorship

Post: My Journey as a New Real Estate Investor

Post: Pace Morby Mentorship