All Forum Posts by: Tony Moreno

@Dan H.

Hello Dan,

Yes I do plan on staying in San Diego. I would really like to get that experience also which is why I thought about house hacking in the first place. I know the property wont cash flow, but I am just looking at a general overview of the numbers it seems like it will be almost the same as if I were renting. Something else that has been concerning me is the point of the market we are in. These prices we are at and past the prices of 2007-08. Would you have any concerns with buying now when the market is one of the highest we have ever seen. Also thank you for getting back to me. 

Hello BP,

I am currently living in San Diego with my parents and will be graduating from college in 2018. My parents have some extra money and want to use it to help me put a down payment on a house or apartment. It would be my first house so I would be able to use my FHA loan and only put 3.5% down. This is just a general question because I don't have any specific properties or numbers to analyze. What would make more sense using that money to put down payments on a couple of rental properties out of California or using my FHA loan and buying a duplex, triplex, or fourplex here in San Diego?

I am going to be apply to join a couple of different police departments soon. So once I graduate I will be able to start working right away. I know police officers don’t make a lot of money especially to be living here in San Diego. I’m going to be moving out next year no matter what and don’t really want to rent because it feels like a waste of money and renting here in SD would cost as much as owning a duplex and renting one side out and living in the other.

If anyone has any recommendations on what would be a better idea or if anyone has another idea I would love to hear them. Again, this is just a very general question I am just looking to get some ideas so I can do some more looking into what would be a better option for me.

Thank you for all the help!

Tony

Thank you, Michael, I will be attending this even as I was told about it by another member here on the BiggerPockets website. I am really looking forward to it and hope to meet some great new people and learn a lot. I also told the other person I will not be able to attend until about 6:30ish and he said that you be fine. Thank you again for letting me know and I really look forward to meeting you.

Living here in San Diego with no real experience in real estate, besides working for a college apartment company and leasing for them, it is very intimidating and seems impossible to start. Reading books and listening to podcast have been my two main tools of education when it comes to real estate. The forums here on BiggerPockets have also been huge in the way I look at the markets here in San Diego and also around the country. I worked at the apartment complex for about a year and that's when I realised real estate is something I want to get into. By reading books, specifically "Rich Dad, Poor Dad" which I think everyone here has probably read I really began to understand how real estate is more than just a job and it is something that creates financial freedom. Owning multi-family and renting them is what I plan on doing at the current moment. From everything I have read or heard, I think these types of properties suit me the best for my financial goals.

Still however here in San Diego based on the forums, it seems like this a very hard place to invest and also seems there is much more money in terms of cash flow in other states. So my question is does anyone have ideas or maybe something they have done to get started here in San Diego? Also how hard is it to own properties in other states that you don't live in?

I believe with my leasing background and working with tenants at the property I worked at I would be able to work as my own property manager. But again how possible is that when not in the same state?

I know these are very broad very beginner question but I'm just looking to start a forum here and hopefully get some questions answered from people who have been where I am now. If anyone has anything to add here please do so. Also, I don't know if there are any meetups here in San Diego for people interested or already in real estate I would love to go to some and meet more people. So if anyone knows of any let me know so we can meet up.

I am 20 years old and currently a student at San Diego State University. I have read many great books on real estate and just investing in general and am looking to really get started in making steps to having the future I want to have some day. I have just started listening to the bigger pockets podcast and think it amazing. I love all the great stories and all the lessons that are thought from the people who have already done the thing I hope to do some day. 

Looking forward to meeting some great new people and also getting some great ideas from anyone who is willing to chat.