All Forum Posts by: Denny Moody

@Michael Conway I think this could be a great way to house hack in an expensive market like North Park. My wife and I own a 2/1 in North Park near Mckinley Elementary and we rented it part time during 2016. It's our primary residence so we would intentionally only book 1-2 weekends per month and then go crash at my parents' house whenever we had guests. We had no problem booking as many stays as we wanted at about $250/night. We did about $12000 last year with little effort (other than the hassle of cleaning and moving out for the weekend). However, we recently deactivated our listing as we're expecting our first baby soon :)

I think a home with a granny flat would be ideal.

Honestly, I'm tempted to move into an apartment so that we can rent our house out full time, but I don't think I could convince my wife on that one haha. 

Regarding @Lee Ripma's comment about taxes, the nice thing is that Airbnb handles collecting and paying the TOT on your behalf so no need to worry about that. 

My only concern would be that San Diego is currently working on new regulations for short-term rentals and it's uncertain what those will be.

Let me know if you have any questions about our experience with Airbnb, happy to share!

@Aaron Mazzrillo I can't do next week. But I could do the 15th, 22nd, or 29th.

@Ryan Swan Thanks for the info!

@Aaron Mazzrillo That sounds awesome. Does this happen every Tuesday? If so, I'll figure out when is the next Tuesday I can take off work in the next few weeks and let you know.

Question: Does the first time buyer deal with 3.5% down work for investment properties as well? Or does it have to be your residence?

Wow. Thanks for all the replies. I wasn't expecting such an engaged reaction, but I'm enjoying the conversation.

@Mike D'Arrigo My reasons for wanting it to be within a day's drive is simply so that I can spend weekends in that area checking out homes without having to buy a plane ticket each time. I'd like to spend a lot of time looking at potential properties and that's not super feasible if I have to fly somewhere. T would love to see your info on how to invest out of state.

@Ali Boone Thanks for the "buzzkill" haha. I'm starting to realize that those numbers are a bit ridiculous. The reality is I have a significant cash savings and I'm looking to invest 20-30K of it. So If I use that as a 20% down I could buy something in the 100K - 150K range. That is probably a little more reasonable.

@Aaron Mazzrillo You offered to show some of your cash-flowing properties in Socal? If that's a legitimate offer, I will 100% take you up on that. By IE are you referring to the Inland Empire?

As far as flipping/rehabbing, I'm not looking to get into that bc it seems much more speculative than buying a property that I know will cash flow each month. Making tens of thousands in a few months sounds awesome, but I'm not ready for the risk of hoping I can sell something for more than I bought it for. I'm looking for steady, smaller wins. I have a day job and I'm launching a start-up, so I don't have time to make RE a full time thing.

Hi Ryan

Thanks for the info! My price range is probably a little unrealistic for this region. Thanks for the reality check. I'll be sure to look into those border towns you mentioned.

Hi all,

I'm just starting to dive into all the great info here and I would like to start looking for properties to buy and hold for cash flow.

I live in San Diego, CA and from what I can tell, it seems almost impossible to find a property around here that you could rent out and be cash flow positive. (Median home value is around $500K and median rent is about $1300).

I was wondering if anyone has any advice on more affordable real estate opportunities within a 5-6 hour drive of San Diego. That radius covers most of Southern CA and parts of Arizona.

I would like to find a property in the $30-60K range. I've been looking at places like Phoenix, Lancaster, and Bakersfield.

Any thoughts?

Thanks,

Denny