All Forum Posts by: Ray Alvarez

Hello,

So recently I have been having a hard time receiving my January payment from my property manager. I usually receive it on the 10th of every month. I reached out on January 14th and told her I have not received the payment yet, and she seemed very apologetic and told me it showed processing on her side, but she would cancel and reissue the payment. That was on a Friday, right before a holiday weekend, so I assumed I get it later on the following week. Friday the 21st comes and still no payment, I reach out again and she replies again with "I'm sorry, I'm not sure what is going on. I will cancel and reissue the payment again. You should have it by early next week." It is now Tuesday and still no payment. This is sort of new for me? What do you guys recommend? I could fire her correct? but now I'm worried about my next monthly payment? Should I get in contact with the renters and tell them to pay me directly? This has been a stressful few weeks for me.

@David Antunes

I agree with @Maxwell Ventura I went with Scott & Steve from 3B Property Inspections and they were fantastic. 

@Maxwell Ventura Thank you so much for putting my mind at ease! I hope you and your family have a great Thanksgiving.

Hello,

I'm closing on a townhome in Mission Valley this month. I wanted to see how hard/long it was to find a renter for your investment property? I think my biggest concern, along with everyone's is that it will take a long time to find a renter and the house is just sitting with money coming out of your own pocket? I think mine will be listed at a very fair price for the area, but I think I'm overthinking a lot of things for no reason.

@Daniel Frye Thanks for the great input Daniel! I was also looking in all the areas you've listed below and it seems like there are some great deals in North Park/ South Park/ Golden Hill and even Mission Valley. My wife stayed in Mission valley for two years while she worked in San Diego and I loved it. She was close to the malls, only a 10-12 min drive from downtown and next to all the freeways. I know La Mesa has much more house for the money I have and great points about the bars and downtown environment being closed off for a while. I also think that people are going to start working from home and the convenience of living close to "work" will not be a factor for a lot of people. 

I like the thought of a multifamily home and will most likely have to look into someone to co-invest with me. I think my budget was at max 700k. Thanks, Daniel!

Hello,

I just want to get some opinions from other people on my investment adventure. I currently do not live in San Diego, I'm about a 7-hour drive away. I plan on moving to SD in a few years and know that the market is growing over there. My plan at first was to buy a SFH around 650k and renting it out, but after talking to a few people I've been told that isn't exactly the best route. Simply because I don't live in the area and cannot really manage the property. So I will probably have to hire a property manager to do so, which will take the little amount of my cash flow I'd have. So maybe start with something simple a 1 bedroom condo in a great location, such as Downtown, little Italy, etc.. I kinda was interested in a two-bedroom if I go that route, but not sure how easy a two-bedroom would rent, rather than a one-bedroom. I think I'm just a little worried about finding renters for a two-bedroom, rather than a one. I also thought about a townhouse, simply because I like the feel a little more and the HOA's on Townhomes are a lot cheaper, so I don't feel like I'm wasting my money. I'm just stuck in limbo here..

@Brian Koons I think LA and SF are too high to effectively make a good product, so I decided on San Diego. I know the market continues to grow there and also have heard about the upcoming projects they have going on there. I visited this past weekend and looked at a few condos and townhouses and know that SD is my best bet for buy and hold.  

@Connor Nellans Thank you for the insight, Connor. I just got home from visiting San Diego this weekend. I visited condos and townhouses and actually found some pretty good deals. I know San Diego isn't a cash flow heavy area. This will be simply for investing for the long term. I think I'm looking in the downtown area/mission valley area. I'm going to be patient and wait for the best deal possible. 

@Kam Olsen Great advice! You're absolutely right. Thank you Kam. 

Hello,

How does everyone think the market is going to be in more expensive California cities like the bay area, Los Angeles, San Diego. I haven't really seen too much of a decrease since COVID19 happened. I think with how good the rates are, a lot of people are actually buying right now. I would hate to buy now just to see the market decrease in a few months.