All Forum Posts by: Shawn Couch

I'm just trying to find out if anyone has used this company that is located in San Clemente.  I think they do a lot of MAP type of products, but I am working on more of a hard money type of loan.  I just don't want to get to the closing and find out they aren't capable.  

Thank you in advence for any feedback.

@Robert Sepulveda 

That's what I'm looking for... the reputation, or any direct experiences.  Their quoted rates are lower than you noted for both interest and the points, plus they are offering a long term (which I heopfully won't need, but it's good to have I suppose).

Just to be clear, they want the $3000 to get started.

I wanted to ask if anyone has had any experience doing business with a specific lending Group located out of San Clemente?  I'm not sure if I am allowed to name them specifically in the forum so if you are curious and think you can help, private message me or email me at [email protected].

I have an LOI for a deal I want to buy and the rate and term are real good, however they do ask for a $3000.00 "due diligence / doc fee" applicable to the points at closing and I know that this can be a red flag.

Thank you in advance for your input.

Shawn

@Sundeep Amin 

I'm a local San Diego investor/RE agent and I spent about 9 months last year researching cities to find real good ROI cash flow without risking being caught with a bunch of houses that turned out to be in war zone neighborhoods. The key to out of state investing is to find a really good "boots on the ground" partner. I think I have found both and would be happy to share with you if you are still looking out of state (I know this is an old post, but I just found it :) )

Shawn

Hui, what part of town is your condo located in?  The rental market is pretty tight in most parts of San Diego and has high demand.  I think you should think about renting to a well qualified Tenant and not bother with the section 8 approval process.  That's just my opinion.

@Josh Epstein Not much help from the TX BP crew it seems.  Curious to hear if this deal made it or not. 

Your local BPer.

Welcome to BP @Timothy Cannella 

If you are going to be in town for a while, you should seriously try to take advantage of the VA loan and get yourself into a San Diego property. Contact me if you want to talk about the options. Although my first investment was a small house in Pt. Loma which I did quite well with, my best and favorite deal was a triplex in OB. Not only was it a cash cow, but the appreciation was outstanding. Of course a lot of that had to do with some good timing too. With interest rates as low as they are, it's still a great time time buy a property as long as the numbers make sense. Call or message me and good luck.

Mohd,

Welcome to Bigger Pockets.  I am sure you will find many usefule forums posts and podcasts here.  In regard to your question about investments in San Diego, are you interested in short term deals, or a long term hold.  As far as areas in San Diego that are good for investment, as long as you buy the property at the right price, you should be able to have a solid investment no matter what area you buy in.  Area preference is very subjective, but being closer to the coast does draw a premium for those buyers seeking the coastal lifestyle.  Message me back if you are interested in looking for a deal and are ready to proceed.

@Andrew Jeffery It is true that it is pretty hard to find a property in San Diego that has strong cash flow.  You can find multifamily (1-4 units) that might make sense, but the areas won't be the best places to live.  If you only want to live there for about a year, I think you would do fine.  Aternatively, there are some condominiums at the lower sprectrum of the price range that would likely pencil out as a rental.  If you aren't working with anyone yet, feel free to contact me for some help and insight.