All Forum Posts by: Nicole Holcomb

Great job overcoming analysis paralysis and getting your first deal done! What is next for you in your REI career?

Check out Tutt Renovations they specialize in flips and full remodels. Ask for Tyler he will take good care of you.

Carina Corral welcome to BP! I am a San Diego native and absolutely love this city and all it has to offer. That being said, it is an expensive and competitive market with experienced cash buyers scooping up distressed properties left and right. As Dan mentioned flipping can be risky, so I wanted to suggest considering a house hack as your entry into real estate investing in San Diego. House hacking works amazingly well in the San Diego market and aligns well with your end goal of owning rentals.

San Diego has a robust multifamily (2-4 unit investment property) market supported by high rents that can allow for ample cash flow. There are FHA loans available for owner occupied multifamily real estate with down payments as low as 3.5%. In some multiunit situations, the borrower is able to include a portion of the rental income from the target property towards their income to increase their buying power. Start talking to lenders to see what options they can provide you and your family members, you may qualify for a larger purchase price.

In my investing experience I have benefitted most from appreciation in the San Diego market. House hacking in San Diego will allow you to capitalize on appreciation while you cash flow and live in one of the greatest cities in the country (I may be a little biased). 

Congratulations! The first purchase is such a milestone. Great plan to continue to educate yourself while your property appreciates. Tell us about the property!

In addition to posting here I would check out the So-Cal REI Facebook groups, there are multiple wholesalers in the San Bernardino area that are active on Facebook. Once you are a member of the group you will see all of the posts and many of the investors and wholesalers post their contact information. Reach out to investors and wholesalers and let them know you want to get into the business and that you are willing to help in any way possible.

Great plan Matt Gigli, my husband and I have been utilizing the live in flip strategy for the last 10 years in San Diego. Are you planning on holding for two years to take advantage of the primary residence tax benefit? I have done both quick fix and flips and slower 2 year projects, both work well in San Diego. My husband and I do a lot of the renovation work and we often find ourselves covered in sawdust dust, paint and living in construction zones. For me there is nothing more exciting than finding a distressed property, gutting it and redesigning it into a highly desirable home. What areas of San Diego are you most interested in? What is your plan for finding your fixer? Best of luck to you and keep us updated so we can follow your REI journey.

What type of investing are you looking to get into? 

I'm not sure there are a ton of new ideas out there but most of the traditional marketing and lead generation techniques are still working during the pandemic. Face to face meet ups and open houses are out currently for my market but all of my other lead generation techniques are still in place and producing leads.

Wow, that is an amazing investment strategy! Congratulations and way to leverage your insider knowledge of the market. What is next for you?

Wow it sounds like you have an amazing opportunity for a fresh start as a real estate investor. I think you are doing the exact right thing in focusing on educating yourself about real estate investing. Take this time to learn and analyze different markets in the US. 

Do you currently live in Las Vegas? 

What are your top three cities you would like to live in and invest in?

Are you looking to build wealth through rentals or are you interested in other investing techniques?

Thank you for these tips, I am jumping on Facebook now!