Relocating to San Diego - Out of State LTR Portfolio

Investor · Minneapolis · Member since 2022 · 74 posts · 25 votes

Hello BP Community (San Diego),

I am a MN investor deciding to relocate my family after many years of freezing this time of year. Looking to network with fellow SD REIers and maybe attend some local meetups. My plan is to learn more about the SD market, but continue to maintain and grow my MN portfolio of LTRs (@ BridgingTenants on IG).

Let me know if there are some upcoming events or groups that have been good for networking and learning the more about the local markets! Will be in the area by the end of January!

Cheers and HNY everyone!
-Jacob

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Becca F.

Rental Property Investor · San Francisco Bay Area · Member since 2022 · 1k+ posts · 1k+ votes

Hi Jacob! Welcome to California. I don't invest in San Diego - I would if a had a lot more capital. I've heard great things about SD and there's flexibility with doing long term rentals, mid term and short term rentals (to travel RNs, business people and vacationers) in that market. I know an agent there who is also from Minnesota. I will DM you his contact info.

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Nate MeekerBusiness Member
Real Estate CPA | California · Member since 2020 · 544 posts · 251 votes
2y
@Jacob Carroll Welcome to SD! There is no better place to live. Feel free to reach out to me. I started in 2017 and have since done wholesaling, BRRRR, flips, creative finance transactions, and brokered general deals. I've found that my passion is time freedom, not real estate. I now focus on the highest and best ROI for my time which is growing my business and investing profits in long-term truly passive rentals across Florida and California.
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Becca F.
Rental Property Investor · San Francisco Bay Area · Member since 2022 · 1k+ posts · 1k+ votes
2y
Hi Jacob! Welcome to California. I don't invest in San Diego - I would if a had a lot more capital. I've heard great things about SD and there's flexibility with doing long term rentals, mid term and short term rentals (to travel RNs, business people and vacationers) in that market. I know an agent there who is also from Minnesota. I will DM you his contact info.
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Dan H.Pro Member
Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
2y
We invest in San Diego. For leveraged purchases, the market has never been more challenging for buy n hold. This is a combination of over a decade of crazy appreciation, lots of competition, increasingly friendly tenant laws, the doubling of rates in the last 2 years. My opinion is retail (MLS), non value add buy n hold in this market is a long term strategy.
The competition for value adds is also significant, but this is were the currently active experienced investors are placing their focus.
There are a plethora of meet up groups. The 2 most common place to find them are on this site (BP) and Meetup.com. In general if the name sounds more social such as has network, brew, etc in the name, it will have a less experienced investors and more novice investors. Meet ups from larger RE groups San Diego creative investors association (SDCIA), San Diego STR Asoociation (SDSTRA), (north) San Diego RE investors (NSDREI/SDREI), etc have a higher percentage of experienced investors. Similar for meetups with a focused convent such as private lending master (run by my friend Janice), anything with note in name, virtually anything with multi family in the name, etc.
I have been in this market for many years but real active since 2012. We are buy n hold investors and have not purchased since Dec 2021 (our longest period without a purchase since 2012 but we did purchase $4m in Dec 2021 (before rates shot up). I am not finding purchases that meet my lofty performance expectations, but do see regularly purchases that would do well as a flip.
As for the reply on San Diego being STR friendly it varies but San Diego city is not (on a quota and the best STR location hit quota that a lottery was necessary), but the county is most STR friendly. Other cities in the metro area vary but most are not STR friendly unless you live on the property.

If you have questions you can IM me. I read my inbox virtually every day.
Good luck
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Twana RasoulBusiness Member
Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
2y
Welcome to San Diego @Jacob Carroll I sometimes go to SDCIA meetup and there are a couple of others that are okay as well. There are locals that invest here as well as MN, WI and surrounding...happy to connect you to some of them if you'd like in the future.
Cheers
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Jake BakerBusiness Member
Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 696 votes
2y
@Jacob Carroll
Welcome to SD. Beers and Deals in Little Italy is also a good meetup every month.
[email protected]
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Kenny SimpsonBusiness Member
Lender · San Diego, CA · Member since 2022 · 137 posts · 96 votes
2y
Quote from @Jacob Carroll:

Hello BP Community (San Diego),

I am a MN investor deciding to relocate my family after many years of freezing this time of year. Looking to network with fellow SD REIers and maybe attend some local meetups. My plan is to learn more about the SD market, but continue to maintain and grow my MN portfolio of LTRs (@ BridgingTenants on IG).

Let me know if there are some upcoming events or groups that have been good for networking and learning the more about the local markets! Will be in the area by the end of January!

Cheers and HNY everyone!
-Jacob

Hi Jocob welcome to San Diego and I am sure you will be very happy with your move. There is lots of meet ups and lots always going on in the real estate market in SD. People post about meet ups on BP and once you attend 1 or 2 you can learn about the rest from meeting other folks. I have been in the RE game for 20 years in San Diego, you can check out my BIO, if I can help or you want to chat let me know.
[email protected]619-302-2020
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