All Forum Posts by: Maxwell Ventura

@Rodney Masri

I have someone for you. just DM'd you. 

@Ajay Patel The common consensus is to stay local for your first deal. Plenty of experienced professionals on these forums to help you learn the landscape of what the market is doing. 

Also recommend building your core 4: Deal finder (usually an agent), lender, contractor, property manager. Recommend meeting in person or via zoom at the minimum. 

Look out for local meet ups. BP has a local events section too.

Hello @Gabriela Dilauro If you're able to have tenants pay electric individually solar may not make a difference so much, unless you're looking to take advantage of the federal tax credit which is going to diminish and ultimately disappear.

You also have the option of getting the solar, & marketing your rental as "free electricity" for the tenants and simply bump up the rents. 

@Luis Pineda

Luis, congrats on beginning your journey into investing in RE. 

A few thoughts:

1) You only (potentially) lose money when you sell. San Diego is an incredible buy and hold market.

2) San Diego is forecasted to be the #1 appreciating market in the entire country this year at 8.3% and forecasted for 7.8% in 2022

3) If you're going to have the luxury of taking advantage of your VA loan I'd recommend looking into a small multifamily property. 2-4 units. You'll be able to use the 75% of the rents from the additional units to help you qualify. Of course, the additional rents will cover a portion (potentially all) of your mortgage payment.

4) San Diego is really one of the safest places to invest in the entire country. Call me biased but the data is there to prove it. In any market, follow the supply and the demand. San Diego is at historical lows for inventory and for better or worse is likely to continue along the same trend line for the next decade. We're running out of room to build, the majority of SD is a resale market and new construction isn't able to keep up w/ demand.  If you've been paying attention to the market we've appreciated between 10-14% last year depending on where you get your data. We're also going through a massive tech boom at the moment and since CoVID we've had a large number of higher educated / higher networth individuals from more expensive areas like SF, Boston, & NY continue to move here (and bid up RE) because they are able to work remotely. With the large number of development projects happening now and slated for the future this shouldn't slow down too much. I'd expect steady appreciation for a while. 

Hope this helps. 

@Dan H.

Amen. Well said. 

@Trevor Shaw Same invite extends to you! Welcome to BP. We're having an investors local meet up here at our downtown office mid February.

Cheers ~

@Patrick Canler Welcome to BP. We're having an investors meet up at our office mid February if you're interested.

@Chase Macherzak

For your first property purchase together I'd highly recommend investing locally. Make it the house that you live in. Going owner occupied you can come in with 3.5% or 5% down and leverage the debt. You'll end up seeing a great return on your money over time, especially with the heavy appreciating San Diego market. 

Otherwise, you're just continuing to throw money away renting, paying down someone else's mortgage. With steady income you should be able to start thinking about multiple properties w/i a few years. Start locally in the house you own. You'll get the best int rate going owner occupied too. And even if after 2 years you decide you want to sell to upgrade you'll still get to take advantage of the cap gains exclusion. 

Hope this helps

@Mary Gafner

San Diego is an exception to the massive state of CA. Population is still growing here. And w/ the growing tech boom, low rates, and shrinking inventory, the demand is continuing to get even stronger. Other factors that set us apart are the heavy military presence here and our great tourism. 

@Aaliyah Walton

Using the VA loan doesn't have to hurt the strength of your offer. VA's get accepted over conventional all the time, even in this tough SD market. It's not just the price and type of loan, but the terms also play a big role.

We don't bash other agents but that was a ridiculous statement to say a VA loan has no chance against 2 other conventional products.