All Forum Posts by: Josh Johns

I’m just finalizing the permit now and I started in October, so yes it does take quite a while. I’m glad this has been during the slow season and that I have a 2 year lease 🙏

I recently acquired an arbitrage property in Mariposa and am going through the vacation rental permit process with the county. Not much experience here yet, but I've started the process! 

Thanks Scott, I'll message you about this! 

Hey BP! 

I'm looking to get pre-qualified for a vacation (2nd home) loan in California. I'm hoping to put 10% down and operate a STR.

Any recommendations for lenders that offer this type of financing in CA? 

Thanks! 

Hey BP! 

I'm looking for cities in/near the San Francisco Bay Area that have favorable short term rental laws. Most Cities I'm finding require you to live on the property you are renting or that there is a very limited number of days that you can rent it out short term (less than 30 days per stay). 

Any recommendations for how to find locations that will work legally for short term rentals? 

Thanks! 

Thank you all for the insight, looking forward to continuing my search! 

Thanks @Mark Frattini! 

Both my girlfriend and I are hoping to be working remote and our budget is up to about a $950K purchase price. We also have funds saved for moderate renovation work. I have identified parts of Mira Mesa, Linda Vista, Clairemont, La Mesa, Poway, Oceanside, Vista, and San Marcos. 

To clarify, I am not expecting to cash flow positively while living on the property. It just needs to at least break even once we move out 1-2 years later and hold as a rental. 

Thanks again! 

Hey BP Family! 

Excited to say that this is my first BP post ever! 

I am 27 years old and was born and raised in SD county, although I am currently living in San Francisco. My girlfriend and I are planning on moving back to SD this coming April, 2021. 

We are searching for a House Hack in San Diego. My goal is to put 3.5% down with an FHA loan and rent by the room to help cover PITI, while living on the property. My girlfriend and I would like a situation where we have our own space, (multi unit or ability to convert a SFH into a multi unit situation). We are happy to live in a small space if it means renting out the more expensive or main unit. We plan to live in the property for 1-2 years before moving into a 2nd house hack, while holding onto the first as a long term rental. I realize SD is a difficult market for cash flow, but I only want to do the deal if the first property will cash flow positively once we move out and keep as a rental (while only putting 3.5% down).

I have spent a lot of time researching the various neighborhoods throughout the county where this may work, although I would love some guidance on which areas of the county to focus on. Living in at least a somewhat safe neighborhood is a high priority for us. Not afraid of dealing with a rehab situation to create some sweat equity, although a more turn key situation is preferred if the numbers work. 

Thank you in advance to all!