All Forum Posts by: Tim Coulter

Hello everyone, my name is Tim Coulter! I have been a BP lurker and podcast listener since September 2017 and am now ready to take action. I was born in a rural town in northwest Ohio and then moved to Rochester, NY while in college. After college, I started working in the financial services industry. I have been providing commercial credit cards and ePayables tools to primarily middle-market ($25mm-$500mm revenue) companies across the USA. I work East Coast hours from 5:30am - 2:30pm Pacific, which leaves the afternoon and some evenings for me to pursue my real estate endeavors.

I will be purchasing my first investment property in 2018, with a stretch goal of purchasing 3 properties this year. I would like to house hack a rehab project in San Diego, CA or leverage an ADU to house hack. I also intend to invest out-of-state for cash flow, in my home state of Ohio or a similar market. It may make sense to first do a few flips in the SoCal market to increase capital for OOS deployment ala @David Greene.

I am currently looking to meet investors, contractors, agents, lenders, inspectors, architects, City Council members, and Development Services Department members in San Diego. My specific interests are currently in value-adds through ADUs and single-family to multi-family conversions. 

I would also like to tag along on contractor/investor property walk-throughs to learn how to evaluate deals and understand rehab costs. I am happy to trade my sweat equity for this learning opportunity; the education and building relationships is most important to me at this point. I look forward to engaging with you all on the forums and hopefully in-person with those of you local to San Diego! 

@Peter Talbot, I am in the same EXACT situation. 25-years old, in San Diego, work remotely, make about the same W2 per year, and in the same predicament. The only differences between you and I are: I am married and I work from home, so we need two bedrooms so I can have an office.

I believe house hacking can work in San Diego; it's all about finding the right deal. I do have family/friends in Ohio, Upstate NY, and Orlando, so I have considered OOS investing in those areas. I have lived/worked in the Ohio and Upstate NY areas before and would find it easier to build a team there. The main reasons I'd like to make house hacking work in SD is 1) I'd like to learn and gain experience managing my own property prior to engaging in OOS REI and 2) as @Dan H. has mentioned on other posts, SD is a great market for REI, particularly BRRRR, in large part due to the strong appreciation SD has had in the long term.

Investing OOS is attractive for me because I can gain cash flow with less upfront investment, and use this cash flow to reinvest in my next property. BRRRRing can be done without much cash upfront, but from what I've gathered, it requires quite a bit of experience to pull off properly (which I don't yet have) and others on the forums have said it is near-impossible to manage OOS.

For now, I am starting to read quite a bit to absorb as much knowledge as I can. Next step: completing my BP profile and starting to meet others in the SD area. Best wishes to you with whatever route you take!