All Forum Posts by: Colin Princi

Great to hear you were able to create that level of income, but I would say that is definitely not the norm in Oceano, let alone SLO County.  I think Megan makes a good point as well regarding potential risk with the dunes shut-down.

On a positive note, my wife and I have thought that Oceano will continue to be move gentrified in the future, so maybe there is some opportunity there.  The question is how long until that's the case.  Price is relatively low, but for another $100K or so, you can probably find a larger lot and 2 homes in North County.  Still potential for short term rentals there.  Good luck!

A couple things I noticed.  Are you planning on using this as a primary home?  If not, for investment properties, lenders I've talked to have required 25% down.  What is your planned nightly rate, and really 0% vacancy?  The inside looks very nice, and yes close to the beach as the crow flies, but I'm not sure how desirable that area is for short term rentals, especially right across from the airport, albeit a small one.  A little hard to tell from the image, but the roof looks towards the end of its life, of which replacement will be $10K+.  Hope that helps and not trying to dash your dreams, but just some quick observations based off the information provided.

Robert,

I live in Atascadero.  What type of work are you looking to get done?

@Sander A Swenson - been in SLO for the past 10+ years.  Still an "amateur" but just closed on our second multifamily property (duplex in Los Osos).  Also have a multi-house property in Atascadero.  Hit me up if you have any questions, always looking to make new connections.

I just got my first property ~3 months ago, and had a very similar approach/interest to yours. Yader makes a good point regarding the roommates. Personally I'm not too hot on sharing a SFH with potential strangers. I found a property w/ 2 small homes on it. I currently live in the back unit and rent out the front (higher rental value). I am considering cleaning up my back unit to a hospitality level, and post as AirBNB for weekends when I am away for additional $$.

Just something to consider, I feel this option has given me much more privacy (and options) than a single house would.

A few people seem to have used auction.com, what about **********?  I've seen 1 complaint when googling it, but not much other info.  There are quite a few counties esp in the west that use it, which would leave me to believe it is pretty legit (there's always outside scenarios).  Any thoughts?

I'm a Cal Poly grad, business/ minor CM.  Currently PM for Cal Poly Facilities Planning Capital Projects....  Don't have much experience, but willing to put in some work and share knowledge if you're interested in the Central Coast.

I came across this eBay posting for a 1 ac lot for a $300 bid + $395 doc fee.  Assuming Title Insurance OK and nothing noteworthy from County Assessor, is there any to look out for?  I'm not very interested in building at this point, simply want a place to camp on or temporarily leave a trailer, and close to wilderness (not worries about water, electric, sewer).

http://www.ebay.com/itm/One-acre-RANCH-MODOC-COUNTY-/282254987250?hash=item41b7b54ff2:g:PokAAOSwB09YEhcq

Have also been passively watching areas of the Pacific NW.