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Updated over 2 years ago on . Most recent reply

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Luke Andersen
  • Investor
  • San Diego
41
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8
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Advice for starting in San Diego Market

Luke Andersen
  • Investor
  • San Diego
Posted

Hi community, thanks for your time. I'm new to the REI game and wanted to pick your minds. I'd like to start investing locally in San Diego (LTRs or STRs), but interest rates & prices seem to be pretty high right now and I don't have a lot of starting capital so it's a little intimidating. What would you recommend I do?

Thanks in advance. 

~ Luke 

Most Popular Reply

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Twana Rasoul
  • Real Estate Agent
  • San Diego, CA
1,225
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1,404
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Twana Rasoul
  • Real Estate Agent
  • San Diego, CA
Replied

@Luke Andersen Best way to start in San Diego or any other market is by house hacking with low money down...3%-5% down. You can buy a condo or house and rent out rooms or ideally buy a house with an ADU... live in the ADU and rent out the main house or my favorite, purchase a multifamily 2-4 unit.

There will always be something intimidating about investing in a place like San Diego whether it's the price, interest rates, tenant laws, etc....it is good to educate yourself and speak with other local investors about how they started to give you the confidence you need.    Even if interest rates were 2%-3% like they were a year or so ago, it was still intimidating for most because homes were selling way above list price and people paying over appraised value of a home.

The best time to invest in real estate is whenever you are ready, willing and able...I personally don't pay much attention to short term economics since I'm a long term buy and hold investor....I just closed on a multifamily yesterday in san diego and most are in the "wait and see" mode....I only say that to show that I take my own advice and buy when I can and not worried about predicting whats going to happen next year...everyone has strong opinions but no one really knows anything for certain.  

Feel free to reach out anytime, happy to share how I got started.

  • Twana Rasoul
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