All Forum Posts by: Justin Mann

The probability of a property in SD to cash flow if it was a fairly recent purchase on a 0 down loan is pretty low. Without seeing any numbers at all I would say it is likely you will not come close to breaking even after all expenses (PM, taxes, Capex, insurance). Keep in mind though that if you can absorb the difference then likely you are looking at "short term pain for long term gain". It can be hard to maintain that mentality several or many years down the road. The appreciation game is speculation, but appreciation in Socal (especially in San Diego) is a decent gamble. Prices now are over what they were before 2007 (though maybe not much if you calculate with inflation)

I would think the VA loan on your new home would be a big benefit.

Does your plan include a return to San Diego?  If it does then that might be a good reason to hold

I held onto my condo in socal when everyone told me to unload it.  It is very nice to have it now, moved my mom into it to take care of her.

Good luck on the move and your investments.

As a new investor that lives in So Cal I have analyzed a bunch of properties.  NONE of them came close to cash flowing.  I am working on my first out of state deal currently.  Maybe some day deals in Socal will make sense again, they currently do not IMO.

I have been looking as well. My current direction is to try a SFH first. I was very tempted to do a commercial MFH but I would be putting all my eggs in one basket so to speak. I think I am going to do the first property through renttoretirement.com after contacting them from the BP podcast advertisement.

I have contacted several agents trying to find one in a market that can get me a deal that cash flows.  So far I have been unable to activate my cash because the agents have not helped me locate a sufficiently good deal.  Prove me wrong (podcasts say I am right and investors need to locate their own deals but I have a 200% W2 as an engineer so I am left without time to hunt deals OOS)

As A major "do it yourself" kind of person I too am interested in feedback on this topic. My wife has spent money on mentors for stock trading. As someone who is always analyzing the ROI, I am hesitant to hire a mentor but I am also struggling to find deals to invest in remotely.

Hi Eric,

I have been analyzing deals on the MLS and none of the deals in the areas I have been looking (south and west of Orlando) even meet the 1% rule (let alone 2% or more). I too am trying to find the right market but so far I am not finding the right numbers.

Regards,

Justin

Trying to find a market is my biggest hurdle right now.  I have cash and reserves but the agents I have contacted do not seem to have the deals that are going to cash flow or even break even.

I had a great relationship with my tenants that were in my condo for 5 years.  I took a risk and was compassionate with them when their finances got screwed up.  I carried a couple months rent for them which they got caught up on a few months later.  I realize this is a big risk and it can set a bad precedent but it wound up making a better situation for everyone.  They left my condo in good condition after 5 years where it may have needed rehab if the people abused it.