All Forum Posts by: Maxwell Ventura

@Cederic Frank

It will be tough to find a 4+ bedroom for $650K in SD. Not impossible, but you'll most likely have to go to the outskirts of the county, or be okay w/ a property that's fairly distressed and needs a fair amount of work. 

Your next best bet is heading north to Riverside county, which isn't necessarily all that much cheaper in some areas. 

If you're able to make SD work I would. Yes, you'll pay a little more on your monthly mortgage but you'll make that back up and then some in no time w/ the appreciation & economic growth of our city. Plus you get the quality of life.

@Adoney Reid

Congratulations on getting yourself and your family to SD. I'm sure that was a big milestone. I am downtown as well, more specifically in the little italy area. 

Regarding your goals, could be good timing as Fannie Mae recently introduced the 5% down option on 2-4 units this past November. 

I'm a bit confused on your criteria. You're looking to purchase a small-multi here in SD, correct? You'll be looking at considerably higher purchase price than $300K, and will need more more capital than $13K

Hope this helps, 

@John Philip Eugenio - Dan great insight, he's a long time local investor here in SD & frequent contributor on these forums. (over 5K posts!)

If you have the ability to use your VA loan out here in our higher priced market on a 2-4 unit property, it could be worth considering. When factoring in all of the other benefits of owning real estate (other than cashflow) your ROI should be quite high.

Looking for a great home insurance referral. Just closed on an owner occupied single family residence in Rancho Penasquitos San Diego

Thanks!

Too many variables to say "what a good return is". Depends on the deal and the exit plays. I'd throw the 1% rule out the window. Start w/ something less risky. Just get in the game. 

Lets gooooo

I'd connect w/ a local attorney here in SD that specializes in landlord-tenant 

 I've been seeing higher price per sq ft prices recently out here in SD. $300-$325/sq ft seems to be pretty common now if you have a company like ADUGeeks handle your entire project from A-Z. I know everyone over at ADUGeeks. Good people. 

Congrats on the move to SD! 

My 2 cents - sell the house and take advantage of capital gains exclusions since you've lived there 2 consecutive of last 5 years. Sounds like slow growth if you hold on to it and more hassle than what its worth. You reaped a great amount of appreciation last 4 years and very likely growth will be very slow moving forward. Capitalize on your equity & cash out onto a better asset 

To my understanding you should be able to rent at least 30 days stays even if HOA has longer minimums in their CC&Rs (state law)