New in San Diego

7 Replies

I just moved to San Diego a couple of months ago and am looking to buy a house for rental property. I am a first time home buyer and there are a couple of questions i have. It would be great if someone who is experienced in San Diego market can help me out. Here is the list of questions.

1) Which bank would be best to approach for a first time home buyer mortgage?

2) Should i talk to a real estate agent or directly talk to buyers who have listed their houses on websites like Redfin?

3) Would it be possible to buy a rental property in San Diego within $200k ?



Supreet, welcome to San Diego. In regard to your questions... you should join a local credit union and inquire about the home purchase. They are usually more flexible in my experience. As for finding a house an agent would help you a lot since you are not familiar with the area. If you have $200k it would be a good start toward a rental property but you won't find one for a total of $200k. Add another $200k to that and that would be your starting point in most instances. Best of luck

@Supreet Singh Sachdeva    Welcome to the community! Now get active. Read blogs, ask questions, and I highly suggest a podcast marathon! Good luck. 

As for your questions... which bank to use? Completely up to you, but I would certainly talk to more than one. Talk to some local banks as well as some large lenders. Should you talk to a realtor? I would. It costs you nothing. A realtor's commission is paid by the seller of the property. Would it be possible to find a rental under 200k? In San Diego, probably. But that is not to say you couldn't find it with a 30 minute drive of San Diego. 

I'd be lying if I told you it is an easy process. You are going to need to educate yourself on the process. This is the perfect website for that. Like I said... good luck out there.

Hello Supreet,

Welcome to San Diego! Having lived here my entire life I am sure you are going to love it. As to your questions...

1) Which bank would be best to approach for a first time home buyer mortgage?

I agree with Bruce M. you will not have to pay an agent anything and given that you are not familiar with the area it seems like it would be in your best interest to do so. Granted I am a real estate broker so some might say I am biased.

3) Would it be possible to buy a rental property in San Diego within $200k?

It could be really difficult to find something suitable in this price range, and be really careful because a lot of the areas where you might be able to find something in this price range are far from desirable areas. If you want to message me your mail address I can send you some listings from the MLS that will meet your criteria.

I am not sure what your current living situation is, but you may want to consider @Brandonturner 's post How to “Hack” Your Housing and Get Paid to Live for Free.

Let me know if I can help in any way!


I recently wrote a blog post that covered some of the great ways to get started here in San Diego, it might be helpful Southern California - Getting Started

One thing you'll notice with most homes listed for sale by owner. They are being sold by cheap people, how do I know that? They are trying to avoid paying realtors fees. Now, you can find deals, but there is another universal trait with these folks. They are WAY off on the value of their property... always. So you have a group of not so motivated aiming for top dollar sellers, they aren't fun to deal with. 

Try both, agents and for sale by owners. A good agent is helpful for finding deals. 

@Tim G. You are spot on about the FSBO listings! I have occasionally tried getting in contact with one of them to try to find a flip deal and I can't tell you I have had an ordinary interaction yet!

If you're still interested in looking at properties let me know.  I know some good lenders and we can get you pre-qualified to see what you can afford.  If you have any questions don't hesitate to ask me.

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