All Forum Posts by: Maxwell Ventura

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)

@Drew Chance

Amazing. How does your revenue compare to your mortgage payment on the remaining 8 years on your loan? 

Congratulations.

What's next for you? 

@Sai C.

Welcome to BP. STR/MTRs are an great play in heavy tourist cities. SD/LA/SF along the west coast all do very well. Here in SD our downtown convention center is the 5th most trafficked center in the US.

Lots of people stay for a month+ purely on business. 

The other factor is value ad opportunities on the lot. Many San Diegans are willing to accept negative cashflow initially because of the favorable laws pertaining to the ability to add/convert ADUs or add dwelling units through bonus density laws. 

There are many recent laws passed here w/i the past few years that have made it much easier to get creative to add units. We have very low inventory, running out of room to build in our metro areas, and new construction can't keep up w/ demand. 

The ability to add units in an already expensive market, also means there are bigger margins to be had.