market selection - newbie in San Diego

Member since 2019 · 4 posts · 0 votes

Hi Everyone!

I am an investor (using this term loosely) in San Diego who has 1 rental property here that is cash flowing (used to live in it then moved out).

Im interested in aggressively growing my real estate portfolio over the next year plus but I dont believe San Diego is the area to do that (obviously). So I was hoping to play a fun game with anyone interested! My ultimate goal is to focus on cash flow over appreciation.

Lets say someone gave you 300K to do whatever you wanted to with in real estate investing. How would you invest it and in which markets? Would you choose to buy up a bunch of SFH's or would you look at maybe 1-2 multi family units?

Looking forward to reading responses!

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Emy Bernardo

Investor · San Diego, CA · Member since 2017 · 112 posts · 92 votes

We sold our duplex in San Antonio a few years ago - the property taxes were insane. Make sure you run the numbers with a conservative estimate of the taxes using the current sale price. Can be a real cash flow killer.. We complain about California taxes but Prop 13 is actually a huge saving grace, especially compared to areas that are rapidly appreciating. Not having a cap on the annual tax increase is a big issue. Not sure if things have changed since we sold in 2018, though. I always say, if they get rid of prop 13 here, I'm selling everything. The powers that be are trying to get rid of prop 13 and aren't going to give it up! Sorry, that was a bit of a tangent.. :)

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Rebecca Mocan
Member since 2021 · 4 posts · 2 votes
4y
I am no expert on REI but I would probably buy a duplex (or Fourplex) somewhere near San Antonio TX.
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Emy Bernardo
Investor · San Diego, CA · Member since 2017 · 112 posts · 92 votes
4y
We sold our duplex in San Antonio a few years ago - the property taxes were insane. Make sure you run the numbers with a conservative estimate of the taxes using the current sale price. Can be a real cash flow killer.. We complain about California taxes but Prop 13 is actually a huge saving grace, especially compared to areas that are rapidly appreciating. Not having a cap on the annual tax increase is a big issue. Not sure if things have changed since we sold in 2018, though. I always say, if they get rid of prop 13 here, I'm selling everything. The powers that be are trying to get rid of prop 13 and aren't going to give it up! Sorry, that was a bit of a tangent.. :)
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Twana RasoulBusiness Member
Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
4y
@Brian Bartelsmeyer To help with that it would be helpful to know what your goal is and why you are trying to aggressively grow your portfolio...is there a goal of owning a certain amount of doors?
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Brian Bartelsmeyer
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Member since 2019 · 4 posts · 0 votes
4y
Quote from @Twana Rasoul:

@Brian Bartelsmeyer To help with that it would be helpful to know what your goal is and why you are trying to aggressively grow your portfolio...is there a goal of owning a certain amount of doors?
I have a very healthy amount of capital that im ready to deploy but it’s unfortunately causing me to have analysis by paralysis with all the different options out there.

My goal is to have 5-10 doors by end of year.
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