All Forum Posts by: Ryan Phillips

@Greg Rollins Well Done and congrats on making this move.  I'm assuming being a Huey pilot, you working from KNFG, so where did you score the property.  I'm in the sand box right now too, looking for properties but I won't be able to have the freedom to house hack anymore.  After my first deployment I decided to buy a two master bedroom condo and house hacked it.  It was the best financial move I ever made because if I didn't buy the house I was going to buy and live on a sailboat.  That condo helped my buy my first house in San Diego and if I had bought that sailboat... well, we all know the resale of a San Diego could never match a condo bought in 2001.  Good luck getting to 5 doors this year.  ~Flip

@Evan Bell and @Gary John  I also believe the area of City Heights and the surrounding communities will do well.  Many of the home/apt can be older, but you could potentially find distressed property with a good upside.  As the cost of San Diego has risen so much in the last two decades, some of the more run down areas were forced to rise up from being called slums, if you will.  I wouldn't call it a trickle down effect, but maybe a trickle east effect.  I'm in University City and Bay Park, but I think I might start to focus on some of the Clairemont areas now in between my target neighborhoods.  I think the schools will start to follow and get a better ranking soon.

My profession is Navy helicopter pilot, but I work on my business. Sorry, but I had to take that from Rich Dad, Poor Dad. I saw a few Navy pilots on previous posts... Rob Roy Not many other services, which tells me either Navy guys are smarter or we have been stationed in better places to invest. For us, it has been San Diego. I personally liked the guy who posted he is a baggage handler and how he travels the world for free. Good to see all of the posts...

Justin Eaton At first, I thought you had spent to much on this remodel, but after seeing the quality you put in I can see you take great pride in what you do. Awesome finished product!

This place is so unique.  I've been living in San Diego off and on since 1981 and I have never seen something like this, especially so close to O.B.  In fact, I'm trying to figure out where a place this large fits anywhere near O.B.  Like @Andrew Johnson said, this place screams high risk to me.  Insurance alone could really push you over the edge of making any profit and it would definitely attract more of a weekend warrior.  Maybe you could lock into longer periods from Memorial day to Labor day, but not sure if 60% is reasonable.  The wear and tear on the place would be harsh, and yet to bring in the right renters, it would also have to be high end.  That equates to high end materials and often replacing them.  @Chris Vicari if you do get the place, I'm coming over for a beer.

That is really solid @Ori Skloot.  Well done, and thanks for putting this out there for others to read, learn, and build confidence in this system. 

@Account Closed Mind shooting me the info as well.  Hopefully, you are getting some referral kick back from all of the responses.

Thanks,

Flip

I'm interested too.  If you guys have luck with one, please forward the contact info.

Thanks,

Flip

A while back I was going through flight training in Pensacola, and we decided to live in a vacation rental for three months on Perdido Key, FL.  Our monthly payment was $2400 and included $2400 deposit.  When we left, we received a check for $1.98 of our deposit.  All of the items deducted were normal wear and tear items, AND we had listed each item during the walk through which they never signed.  It wreaked of fraud from the beginning.  I wanted to sue but my next duty station was TX and I didn't have the time.  Later in my career, I met a girl that worked for the property management company and she told me that they were on the run from the FBI.  It turns out, they were doing far worse than I thought.  They would collect from the renters, AND they would then tell the owner they needed to repair damages for normal wear and charge them too.  Collecting the money from both sides and pocketing the lot of it.  I've always wondered if they went to Mexico or if they found the inside of prison.

Meghan McCallum wow, what an awesome post to read about. Not gonna lie, I very envious of you start in the new year.