All Forum Posts by: Keith Mintz

I have STRs and MTRs in San Diego and have had some since 1999. 

My STR performance is the lowest ever excluding the Great Recession and Covid lock down periods. I use a PM on our STRs and MTRs and my performance after PM fees is no better than if they were LTRs.

Downtown area, last I heard, still had STR permits available (unlike Mission Beach).

Good luck

Hey everyone. 

Im basically looking to buy a $1mm duplex in Chula Vista , 2 bed/ 1bath on each side owner occupy, and rent the other side. 3.5% down. FHA loan with monthly payment including taxes about 7800. the other side would get up to 3200. If I go to rent it out at some point that's a negative cash flow of nearly $1400 assuming rents and rates stay the same.

I was interested in doing this because it feels like I won't ever get into the market. I also considered the appreciation potential.

Another thing to note, my wife and I make combined about 350k so we can afford the monthly payment comfortably. 

Please let me know what you all think. 

Thank you,

Alex

Hello,

Just looking for advice on if this makes sense. I'm looking to buy an empty lot or old building that needs demolished to build a duplex or triplex to house hack. Based on the price per sqft a builder gave me a duplex would be $280k and Triplex $420K roughly. That doesn't include land cost which could be anywhere from 60K to 120K. Each unit should easily get $1300 in rent but keep in mind I would be living in one of the units. 

With an FHA loan I would easily be able to buy the land cash and have the down payment. It would be easier to buy an existing duplex or triplex but nobody is willing to sell because they cash flow so well.

Any thoughts are appreciated.

Thanks,

What's up Luis! Love the attitude! I'm a 24yo broker and investor, and I manage over 100 STR properties as well as some LTR. One of my agents @Keith Mintz is another young hustler, he's doing deals in San Diego right now. You should definitely connect!

Hey Keith!  Furnished Finder has been my go-to for keeping my properties booking with travel nurses!  My biggest tip is to respond to EVERY inquiry even if they have a lower budget than you want.  A lot of times, they have more wiggle room in their budget than they initially say!

@Keith Mintz

I agree with Ko in that finding off market deals does take a lot of work. Time is a resource like money. There are a lot of on-market deals that can be great buys. On market properties are already motivated sellers and you have an advantage of a starting price to work from. We are always analyzing the market of on-market properties in the Tahoe Reno, NV area for our clients. Then we send a curated list to clients based on their buy box. Its saves time for our investors because we've done the hunting and the analysis. It depends on your overall goals and if you have the time and money to put into finding off market deals and knowing they will pay off it's a good use of time. There is more to good deals than the price of the property. The location and circumstances of the seller can also make huge impacts on your bottom line.