All Forum Posts by: Jarred DeArmas

@Josh Carr california also does excess proceeds tho correct? If a deed at auction starts at $25000 and sells for $50,000 then the difference goes to the previous owner correct? Is there a way to buy tax deed properties from the county before auction, or would you have to go to the owner and try and make a deal and then pay the back taxes before the last day of redemption in the 5 years? 

@Eric Bate 

I think if I were you, you have to define what it is you want to do with your RE career, then go from there. There are ways to use that money and do both, like @Sam Sharma said. I personally would try and get a low down Conventional and put that on a 4 plex, and then with the leftovers I might try and buy a single family to rent out a room or two, or maybe even a duplex. In your market, it seems like the barrier to entry is relatively low (coming from someone in San Diego). 

Whatever you do, think about what your goal for the future is, and that should lead you in the right direction!

@John Matthews, welcome to san diego! Most of what was said already is pretty spot on!. @Kenneth Ho mentioned some great areas in SD to start with. Although prices may be a little higher in North Park, Hillcrest, and South Park, you can find both SFR's and Multi's on the MLS. As you go east, and south, the prices drop but you start to get into rougher areas in my experience, and then as you go costal, prices get even higher.

@Don Johnston also nailed it with the trafffic...it sucks . SLOW Morning commutes in every direction, from the border all the way up the 5 and the 15 to the 76 in North County San Diego are usually pretty stop and go untill about 9:30am, and then starting again around 3:300.

Anyways, you cant let traffic decide where you are going to invest. I  myself am new in this game, but I know that San Diego is a tough market, but can be done. I personally am focusing in the North County area, but I am keeping my eyes open for anything good to pop up in the North Park South Park Hillcrest area.

Good luck to you and  your wife, and keep us updated!

Hey guys! My name is Jarred and I am a newbie from North County San Diego. I have been listening and learning...and lurking for the past 2 years when I made my account, but never really spent much time on the site until now. I have listened to all the podcasts, read the books and attended some webinars, and I finally decided that I need to start taking action. 

I am actively looking for deals in my local market of San Diego, mostly North County. I have a few strategies that I plan to use, depending on what kind of property I can secure under contract first. My main objective is to STOP PAYING SOMEONES MORTGAGE! My mom is a real estate agent here, so I have access to the MLS pretty much at my disposal, although finding deals that will cashflow is pretty difficult. Im not so worried about the property cashflowing, as long as I am not loosing money to own it. The way I look at it is If I can house hack and secure a property, like a 4 plex with FHA and 203k, I know I can find a way to add value. I will then have 3 of the units rented, which probably wont cover all of the mortgage and property expenses, but if what I am paying to live in the 4th unit is equal to or less than fair market rent, I consider that a successful hack. I figure I am going to pay rent to someone, might as well be myself.

I am also open to buying a single family fixer in North County, acquired with FHA and 203k, and use the BRRRR strategy, except for the first year and during the rehab, My wife and I are the renters. For this property to work, it has to meet a few requirements that I have set. I have to purchase it at below market value, it has to need work done, there has to be multiple ways to add value, and preferably have some land. Buying a fixer far below market value is not as easy as one would think here, although it can be done. I don't have a lot of money, so I am using the FHA to get in with low money, the 203k to rehab, and then a successful refi (to me) would allow me to pull out the minimum I need to put a downpayment on a multiunit property. The reason I would like property with this single, is I would like to be able to build a granny flat and or a "tiny house" on the property and use for Air BnB or rent it as a monthly rental, to then turn this BRRRR into a House Hack BRRRR.

My strategies are not set in stone, and which one comes first is all up to the deals that I find. Ideally, the first purchase will lead me into the second, and hopefully I can refi before the market turns so I have some capital to work with. I am not cashflow hungry, and I am not betting on appreciation...although it would be nice. I am looking for the long term wealth and financial freedom to be able to live my life how I would like to, and not worry about needing an advance on a paycheck. Im not looking to spend my life on sandy beaches collecting checks, but rather being able to spend time with my wife and future kids and family. I look at real estate as a game, not a get rich quick, and I don't plan on quitting my job anytime in the near future. 

I work full time and am pretty busy with my new wife and my side business after work, but I am EAGER to learn and get started investing. If any local investors need or work done I am pretty handy and I love to learn. Anything that I can offer to get my feet wet and experience finding and picking up deals I am willing to do. 

Thanks for all the great post on here BP and I look forward to talking in the Forms!

Jarred DeArmas