All Forum Posts by: Jimmy Watson

Welcome to BP! Definitely made the right choice by joining up on this site. Nothing out there will help further your goals as much as the community and content on this website will. Best part? It's all free! Looking forward to hearing about your future progress.

Very interesting strategy, and definitely goes against the grain.  It almost seems as if you're not overpaying though- if you have the vision to see what you are able to do to the property in order to increase value and rents, and are experienced enough to estimate the return accurately... You're just purchasing the 'good deal' that you envision in the future, instead of the 'bad deal' that is the present!  If you're patient enough and have the funds to do what you're doing, I think it's an excellent idea.  Estimating rehab costs and projecting future rents properly sounds like an absolute must though, with little room for error.

Thanks @Kevin Fox!  When the time gets closer, I'll be sure to PM you.  Just got my first offer beat out by a multiple offer situation.  Oh well, there's always another deal to be made.

Welcome to biggerpockets, Jesus!  I'd suggest listening to all of the podcasts that you can, if you haven't already- along with all of the books by BiggerPockets, as well as their recommendations.

@Jay Hinrichs I cannot tell you how envious I am of your purchase on a new Tesla.  Dream car right there... In a few years when they come down in price, I'll be owning one as well!

Also, @Justin Stanfield you make some really good points, especially in regards to hail.  Never even thought about that aspect. 

Hey Chris! Welcome to BP and I'm glad to see another San Diego investor joining the site. I'm new as well, and have been reading, listening to podcasts, and talking to other investors out here for over a year now. I'm finally taking action and just submitted an offer on a property in Oceanside about two days ago, and just waiting to hear back! I'm probably going to start investing out of state though, because cash flow is near impossible to find out here. If you want to get together sometime and chat, shoot me a PM! I could talk real estate for hours.

I personally think alcohol is more destructive than marijuana. Against the law? Yes, but is she really harming anyone or anything? I'd look the other way if it's just recreational use.

Jay Hinrichs - WOW! Thank you very much for introducing me to this. I had absolutely no idea this was in the works. Sounds to me like the roof will last a lifetime, as well as pay for itself in energy savings? Please, take my money.

I'm currently looking into doing this myself. For my case, I think it makes the most sense. I'll be living in my primary residence and renting 3 other bedrooms out in Sunny SoCal, so that's a lot of excess electricity. With zero down and the rebate, my monthly payment will be far lower on my solar bill than it will for my utility bill. Plus- with my solar installed, I'm getting AC as well, and that's not cheap to run... and is also a big selling point!!

Thanks for the reply, Dan.  I'll stick with just one then.