All Forum Posts by: David E.

@Davis Doan Thanks for that great advice, where exactly in the mid-west would you recommend? Also, how would someone out of state be able to guarantee the property gets rented out in a reasonable time frame? And if you are not familiar with the area that you are investing in, how would you recommend finding the right property management companies other than yelp? And last, are you currently invested in the mid-west yourself currently? 

@Tom Kastorff Thanks for the insightful note! 

So to clarify, I intend to house hack one or two bedrooms of a 3 or 4 bed room property where I would like either offset my monthly mortgage in half or in part for the next 3-5 years. Which is an investment into myself per say that would allow me to first, build equity into a home and second, allow me to utilize the first floor of the home as an office to flip cars to create initial revenue since I am a car dealer on top of my 9-5. 

Now I know this is a huge huge gamble, and it is a negative investment initially but I am bound to my clients here in SD for at least the next 3-5 years and doing the math if I continue to rent at SD prices, I can see clearly how I am not paving the path to any kind of financial freedom and I am not taking advantage of San Diego's tremendous appreciating market. 

And as for your calc numbers, I am going in at 5% and incurring a PMI of 150 if I were to follow through with a not so sound investment, however, I am purely in the questioning phase and any guidance from you guys is of true value for me at this point.

@Donald E Appleberry That is solid advice, thanks. Could you link me to those new builds by chance? I would to take a look, if you don't mind.

Hey @Lanny K., really appreciate the advice. My compelling goal is to immediately cut overhead costs and to begin investing in myself instead of someone else's back pocket.

 Now as for my lifestyle goals, like everyone else here I am sure, is to live 100% financially free. I want to get into real estate investing, but my current 9-5 job is in San Diego and I am now faced with the facts that with a 2k rent + living costs... being financially free will not be attainable in the near future unless I make a fundamental change to reduce expenditures.  

Thus, moving into a townhome(as an investment) would be my first stepping stone as far as I see towards that. What do you think? @Donald E Appleberry @Dan H. @Twana

@Account Closed You seriously think SD RE will hit 250K in a few years?.... being this close the water with 0 development being done on any new homes? @Donald E Appleberry 

@Dan H. I will definitely take your advice on the wait, since there is barely any townhomes or condos currently available in the SD market with a reasonable price tag. 

Hi Twana! Yes, exactly I’d like to stop paying almost 2k in rent and use that money towards a mortgage instead. Also, I want to know if now is the right time to buy a townhome in San Diego since we are not in a Buyer’s market yet?

Hi guys, I am in San Diego with around 45K Liquid, and a 767 Credit Score. Rates are looking really good right now and there a few townhomes for around 570K near by, do you guys think I should purchase now or wait until winter? My goal is to cut my current rent which is around 2k.