All Forum Posts by: Maxwell Ventura

@John Bull

First of all. Incredible name. 

San Diego is a tough place to start for a first time buyer / investor. Setting clear expectations is key. Know that this is one of the most competitive markets in the nation. SDAR's latest market report had us at 15% increase in median sales price year over year. Know that getting a "deal" is for the most part being the 1 that gets their offer accepted. Be prepared to come in above list price (usually) and waive some or all contingencies in a competitive situation. Meaning, appraisal contingency and possibly inspection/due diligence contingency too. Potentially loan contingency as well. Minimum shortening of some or all contingencies. No asking for home warranties or the like. Keep it clean, clean, clean. 

Also, relationships matter. Seller's have a tough time sifting through all of their offers and making sure the buyers are qualified. Agent/Lender team reputation and their ability to close plays a part here too.

In regards to investment strategy. San Diego is a prime buy & hold play due to the large gains from compounding interest on appreciation, low supply / high demand & booming economy. Look for opportunities for value ads. Renovations, ADU build/conversion & leveraging non optimized zoning.

Hope this helps. 

@Lance Trezona

Congrats on your duplex purchase. In regards to landscaping, I generally advise 100% go for it. If your just doing it right now to increase rents don't go nuts but it should pay for itself relatively quickly. 

And bang for its buck, it goes a ways in increasing property value too. I believe there is a significant (and underestimated) emotional component to a well landscaped yard.

@Javonta Smith

What you focus on, attracts. You are what you think about, most of the time. They key is "most of the time."

Make a plan, and make it as clear as you can. Clarity is an essential skill that will take you time to sit down and think and iron out.

Also, your job is your cash flow right now. 

The journey of a thousand miles starts w/ a single step. 

Take the first step, and keep going 1 at a time. You could travel across the entire united states in a massive blizzard under thick amounts of fog and all you would need is just to be able to see directly in front of you. 

@Jamison Remmers

Following up on this. How's the search coming along? 

@Andrea M.

I have some people I can refer too if you still need. 

@DeWayne Lewis

I have a few contacts for you. Feel free to DM me

@Rachel (Raquel) Hart

Prior to listing a home in Del Cerro last year we had 35k of foundation work completed. It was by a reputable contractor that provided a 100 year warranty and permits were pulled w/ an engineer stamp of approval for the work. We had no issues selling for market value at our original list price whatsoever. I think we were on market for maybe 10 days.  

@Anthony Lacko

Agree 100% w/ Dan. Take advantage of investing of capitalizing on SD's incredible appreciation and maximizing the return on your investment by leveraging debt. Come in w/ 3.5% - 5%. Shouldn't take long to do so w/ your salary. 

Have you spoken w/ a reputable lender yet?

Depending on how much of a buyers lens vs investors lens you have the duplex option is a great idea too. Duplexes w/ any kind of decent unit mix other than 1/1s tend to start around $700k and go up from there. 

@Mark Brookman

Should be able to accomplish this easy here in SD. Working w/ a few doing so right now. 

@Mika Manzo

I have a buddy of mine out here in SD that purchased a DET SFR in Hawaii on the main island about a year ago. Little bit of a different scenario than what you described... but similar idea. STR and a place to stay when they visit.

However, he's actually considering pulling his money out already (they've had decent appreciation there too) so he can reinvest here in SD for the long term play. Long term appreciation play in San Diego is forecasted among the top 3 in the US. Compounding gains on an already high priced asset look really strong over time. Plus, many people don't realize this but SD actually has very good CF. It's the INITIAL CF that is poor compared to some of the midwest markets. However, rents increase here approx 3-4% a year. And an increasing rental market will follow an appreciating housing market. We're experiencing it right now.