All Forum Posts by: Nicole Holcomb

Do you have a best friend or beloved family member in the midwest or south? If I was going to invest such a distance from San Diego it would be great if I could also visit someone important to me while I was there. My husband's mother is in Florida and I have seriously considered investing near her hometown. That being said I am saving for my next property in San Diego. If you have $150k maybe you just need an investing partner.

What specialized skills do you posses that others do not? 

What are you willing to do to help an investor?

Are you tech savvy and excellent with website design, social media marketing or SEO? 

Are you willing to pound the pavement, door knock and drive for dollars for a local investor? 

Do you have nice handwriting and enjoy writing letters?

Are you willing to stuff envelopes and run errands for someone in exchange for mentoring?

Dolly Meas from everything I've experienced in helping investors make purchases and in my own investments, house hacking is the way to go in San Diego. If you want to build from the ground up, buy a SFR on a big lot and build a 1,200sq ft ADU. The "housing crisis" has made for extra allowances for ADUs and JADUs in San Diego County and now SFR are allowed an ADU and a JADU (as long as they meet specifications). Can you flip that loan around to be a $550,000 mortgage with $175,000 for construction?

I have clients that recently purchased a 4br in San Marcos for $560,000 on a big corner lot, they are planning on building a detached ADU and converting the attached garage into a 400sq ft JADU. In helping them we did some research and found construction costs for an ADU in San Diego seem to range from $200/sq ft to $300+/ sq ft. With your budget, it sounds like you could make this sort of house hack work.

I was recently working with a client looking to purchase land in Encinitas. After doing some research they learned that the average wait time from purchase of the land to beginning construction is 1.5 years. They decided that was too long for them to be paying a mortgage before occupying the property. I like your idea of buying a fixer upper, what is your plan for finding this fixer?

Have a great day!

Welcome Kenneth Alldredge, I recently joined as well and have found this community inclusive, informative and inspiring. 3I's haha, see you around the forums.

Nicole

Whitney Hutten

Thank you so much for sharing this, I will be there!

Nicole

What if you focus on getting your deal pipeline set up because you can't do anything without leads. When you have analysis paralysis, it is time to take action! 

Get out there and start driving for dollars and put some "Call me" Postits on doors. 

Write up some yellow letters and drop them off to the worst houses in your target neighborhood. 

Start a direct mail campaign.

Post on your social media every day (not necessarily about REI every day, you don't want to bore your followers)

Talk to everyone you know, and tell them you are looking to start your real estate investment journey.

In my experience once I took action, I intuitively knew what to do next. Sometimes you need to get started before you can write a business plan, and remember it is always ok to switch gears and go a different direction.

Best of luck to you!

I love Encinitas, and even my neighborhood so much that I can practically see my old house from my new house. I moved away from Encinitas once and was back within 9 months, what can I say, I'm a north county San Diego girl!

This sounds like a scam, if you haven’t heard about the incident until now, I wouldn’t acknowledge the complaint. Sounds like this person is fishing...

So what’s your plan?

Here is what I’m doing:

In July I started sending a monthly newsletter to my SOI.

I obtained a list of potential sellers from my broker and I am starting a direct mail campaign this week. I plan to mail the entire list of 400, monthly. In addition I will be sending text messages to my list.

I have also committed to posting daily on social media and BP.

I love to walk, so every day as I walked in July I distributed door hangers in the neighborhoods immediately surrounding my house (I did 700 total and never pushed it.) 
In August I plan to distribute an introduction letter to those houses, now that I know what to expect I think I can do 1,000/mo.

Also this month I have the goal of putting together a list of business to market to for referrals (attorneys, property managers, CPA’s, etc.).

Hope my plan can give you some ideas  to take action!