All Forum Posts by: Ellis Hammond

@Dan H. is this duplex in a coastal market or where? thanks for that example. 

as an investor here in San Diego, do either of you pro forma properties based on STR rates or do you start with long term rental rates and go from there? If so, how do you get enough history to be comfortably accurate?

https://www.biggerpockets.com/forums/617/topics/59...

Love thoughts on this discussion @Tim G. @Justin R. @Jonny Phillips 

San Diego has voted to end Short term rentals in San Diego starting mid 2019. 

As a buy and hold investor and local to San Diego, Im curious what opportunities if any this might provide for my wife and I who would like to purchase more San Diego real estate.

Will out of state investors look to sell? Will values drop? Anyone have any research on how this has affected other coastal markets or destination spots in our country?

Love to connect more with other SD natives/investors/brokers. Reply here or direct message to connect further. 

@Justin R. so if you rented out the studio tomorrow you would have a 6%+ CoC return? (thats one thing i look at to see if its working). I think that looks like a working deal to me.

A little confused to what the 180K went to if you moved into this property. Maybe you put 20% down and did renovations? 

Rents also look low for San Diego or at least where I look at property so at first glance this deal looks pretty sweet. 

Location is also important for me here in SD. Where is the area going? Would I want to live there. 

Im assuming you have done multiple deals here in SD... what was your play on this? is this your current place?

@Account Closed now that would be another interesting thread... who uses Turo? #carhacking

love that illustration @Tim G.

And many of those thoughts is why I posed the question originally bc I still see and read from others stability in our market.

I personally am interested In purchasing 2-5 more units over the next 2 years. Mostly bc I want to take more advantage of my season of life than the market but also agree that regardless of what happens to next 2-3 years the San Diego market will only go one direction the next 30 years... ^^^^^^^

@Jonny Phillips are buy and hold investors you work with lowering their criteria as far as returns go aka playing appreciation > cash flow?

The only way I see buy and hold working currently is if you can move into a unit through FHA or VA type loans (which is what I'm doing)

@Tim G. you are a beast in our market my brother. Love to connect more. I’m with you in that I’ll be ready to pounce when the time comes.

@Isaac El leasing broker? Didn’t even know that was real. Thanks for joining the convo 

@Matt K. @Joe Splitrock @Caleb Heimsoth @Twana Rasoul what if we weren’t talking luxury cars?

VW instead of BMW for example.

I realize luxury leasing is still a big expense but trying to see what makes sense for the avg American or maybe the average investor here on BP.

Seems like summary so far is buy used. Are you still financing that purchase? Depreciating it to close to zero?

@Jonny Phillips working with your company have you seen fix and flips slow down in last three months or increase? 

I think also a good time to still buy and hold in many situations in San Diego especially if you can take advantage of good loan program like FHA.