All Forum Posts by: Jake Jaenicke

@Alberto Nikodimov I appreciate the feedback. I did notice from reading other forum threads that I should look in adjacent counties to Orange County for STR. I landed in Kissimee due to its proximity to both the airport and Disney. I agree I need to learn more about this relative in Florida to make sure she is qualified. I plan on reaching out shortly, so thank you for the offer.

@Jeffrey Donis I agree that is a great tactic to start gathering some information. Thanks for sharing.

@Shawn McCormick that is all great information! I agree I like the idea of a SFR more than a community, but my partner also plans on traveling here from time to time so the amenities may become a factor. Thank you for sharing.

@Tyler Gibson those areas keep popping up as the right spot to invest. Thank you for sharing.

@Matt Nico congrats on the success! I will take a look at those areas now. Appreciate the feedback.

@Rick Trivedi that is a good point. I ran some numbers on 3B/2BA around $400,000 and the cash flow was dismal. What fees were you seeing on STR management?

Hey Andy!

Did you end up finding any good San Diego reoccurring REI events? We have been looking for a solid group to join!

Hey, Bigger Pockets Community!

My girlfriend and I have an opportunity to partner with a private lender to secure a house in or around Orlando, FL that will be used for STR. We are living in Southern California and are unfamiliar with the location. We have done some research on the neighborhoods and identified a few that seem appealing, but nothing too promising yet.

We wanted to see if anyone has neighborhood suggestions and any tips for buying in or around Orlando. 

We are looking for a 3Bd/2Ba for around $400,000 that is move-in ready (or light renovations needed). We do have someone on the ground in Orlando that can manage the daily operations of the Air BnB, so no need for a property manager.

We are new to investing but are both extremely determined to both get this purchase, and one of our own under our belts. We appreciate any feedback!

Happy almost Friday!

I have lived in Southern California my entire life and I never had the desire to purchase property here. I saw the cost of a small little house, and what that could buy you elsewhere. It wasn't until I got interested in real estate for the investment opportunities that I started to evaluate the Southern California market again.

Many of the books I read, podcasts I listen to, and forums on BP all state cash flow is king. My question to you is this:

In a market like San Diego or New York, where housing prices are so high, but the rents are not equally high, cash flow is hard to achieve (initially). However, housing prices continue to increase and historically will go up. Many of the mid-west regions people are saying they are getting great cash flow, seems to be just that, cash flow only. These areas do not necessarily have the wealth-generating opportunity of appreciation like my market. Would you agree that cash flow isn't everything? It does depend on the stage of life you are in (I am in my 30s, so I thankfully have time to build wealth and do not immediately need cash flow).

If anyone reading this knows of any duplex units in the San Diego area, I am looking! Happy Monday y'all.

@Daniel Lungaro this is a great thread. I too am living in San Diego and am in the research phase of investing. I just finished the Real Estate Investing Book by Brandon Turner and am now reading the Book on Flipping Houses by Bigger Pockets. I live Downtown right now, but have been looking at SFR and Multi-Family opportunities in San Diego to get my first investment with my girlfriend.

As far as having a long term strategy, I agree those are very important, and definitely we should identify our Why, but I would also caution you don't get into "analysis paralysis". I know this is what I want to do to build wealth long term, so I want to get my feet wet and go through the process once. I plan on making mistakes, learning, and the next deal improving. I would love to connect and even join some of these meetups you all are talking about. I live downtown on 10th Ave! 

@Dean OMalley congratulations on the leap and getting this project going. I am in Construction, so I get the frustration with permitting process delays and the COVID impacts, but you will get there and make it out alright. I used to live in the Linda Vista area and the housing over there always frustrated me. It was chopped up and not well thought it. Its nice to see someone have a vision for the area and go in to build some beautiful properties. If you would ever be open to running a tour of the property under construction, send me a DM. It would be interesting to see how the Contractor is doing and discuss you deal in more depth.

Congratulations again!

@jerome d 

@Jerome D Ross it meant out of state. I believe that is the right acronym but it may not be.

Nicole - First of all congratulations on your successful BRRRR. Have you found it to be advantageous to invest in CA first or would an OOS investment, gain equity, roll equity through a 1031 into another property, and work your way into the CA market better? My girlfriend and I have the investment bug, but we live in Downtown San Diego and the housing cost in San Diego county is extremely high. It is hard to find any deals (for us as brand new investors) that cash flow.

@Antonio M.

Antonio that’s great to hear. Let’s definitely connect! Just added you on BP.

@Collin Schwartz this was a fantastic article and one I will save for future reference. My girlfriend and I were recently bitten with the REI bug and are consuming as much information as we can. This is a great read and one we will harvest information from to jump start our REI journey.

If anyone is in the Southern California area and would like to connect, please shoot me a message. Let’s all make 2021 a year to talk about!