All Forum Posts by: Matt Toeneboehn

I have worked with medium terms rentals before and have not experienced any issues with vacancy. The property management fees vary and for a medium term rental should fall somewhere between STRs and LTRs. I know of a few VA specific lenders in San Diego if you have questions about VA/physician loans for your situation.

@Mark Frattini Thanks for the help! Yes, if you don't mind sharing some of the VA/physician lenders you know of, that would be very helpful.

@Robert Comstock Thanks!  I’ll have to check IB out. 

@Dan H.  That's very interesting.  For your calculations with a 30+ day Mid term rental, was rent calculated on a sliding scale (i.e. 1 month > 3 month)?  I imagine vacancy rates would be increased compared to LTRs?

Thanks for the insight!

@Mark Frattini That was more or less my backup plan if the duplex idea didn't pan out. Medium term rental sounds like a good idea and a way to bypass the whole STR quota issue. Have you done medium term rentals before? Is rent generally pro-rated on a sliding scale (i.e. 1 month > 3 month lease)? Any issues with vacancy? I imagine property management would be more expensive?

I'll probably need to reach out to a bank, but perhaps you have some insight - Once moving out, how difficult would it be to secure another VA/physician loan for another house to more or less repeat the process? Would I need to convert the previous VA loan to a conventional loan and potentially pay PMI?

Thanks for your help!

@Emy Bernardo Ok, that's good to know. I am certainly open to expanding the search outside of the city limits. I would be commuting to Balboa/NASNI on Coronado so I'd like to keep it within 30-45min or so. In outlying areas like Oceanside do you think a duplex under 800k is still stretching it? Any up-and-coming areas to look for? Would I be better off looking more into a SFH with an ADU? Thanks!

@Emy Bernardo Very interesting. The prices for duplexs in San Diego County are mind-boggling. Perhaps the best course of action is to pursue a SFH with an ADU. Once I move out and rent out the property, do you know what the official definition of STR is in terms of days/months rented per tenant? Per this link (below), there are permits necessary for STR; however, if I chose to rent it out room-by-room after leaving for greater than 1 month increments would this technically not require a STR permit? Thanks!

https://www.sandiego.gov/treas...

@Taylor Dasch  Thanks for the reply Taylor. AirBnb isn't a bad idea. I'll have to look more into that. Was that just for a bed/bath and your kitchen/family room were off limits? What were your vacancy rates like? Do you know how AirBnb verifies/performs these background checks? Thanks again!

@Dan H. Thanks for the advice. I was not aware of the STR quota in SD. After a little research (link below), it looks like there are multiple tiers for STR permits based on whether the owner is residing in the property or not. If I were to use a attached/detached ADU (not sure if it matters) as a STR while I am living in the property it looks like it would be considered tier 2 (home sharing) and not restricted to the 1% of San Diego's total housing units outside the Mission Beach Community Planning Area. If that's the case, do you think it would still be equally as hard to obtain a permit? After I leave the area and move again in a year or two I guess my only option (without a tier 3 or 4 permit) would be to rent it as a single family LTR? Would rent-by-room on a long term basis (6mo -12 mo contract) be allowed? Thanks!

https://www.sandiego.gov/treas...

@David Bain That's great to hear. I'm hoping to get on the same track! I'm currently stationed in Norfolk, VA. Any advice coming from a military perspective?

@Zeona McIntyre  That's a great idea.  Thank you for your help!  I will reach out once I find out where I am going.