San Diego January Meetup - Visit a Deal - Cash Flow BRRR Deal
29 Replies
- 01/16/16 09:00AM
- 7167 E. Hyatt St. San Diego, CA 92111
- Free
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Welcome to 2016! Time to get inspired, visit a deal and talk to your fellow Bigger Pockets investors at our newest Meetup in San Diego. Our last event in September had a HUGE turnout with over 50 investors visiting a historic rehab project in Mission Hills. Don't miss out on a chance to see a deal in person and meet face to face with fellow investors new and experienced.
Instead of a typical flip project we are going to be showing you a "BRRR" deal. If you're a fan of the Bigger Pockets Podcast you may know this as the "Buy, Rehab , Rent, Repeat" strategy. What's great about this is now you can see how a local investor is buying deals RIGHT NOW in San Diego that will cash flow.Local investor and Bigger Pockets member Justin Ruthenbeck scooped up this deal in early October 2015 off the MLS.
It was a foreclosure with several code compliance issues unresolved. Their challenge was to clear the code issues (working with the city), get it renovated (all permitted with the city), rented and refinanced. Each unit has varying levels of rehab ranging from purely cosmetic to full gut to the studs.There will be time for attendees to meet Justin, get a tour of the property with a break down of deal. How it was purchased, the scope of the work and dealing with the project, the rental projections and the time frame for completion.
As always there will be plenty of time to meet and network with other local investors.If you’ve got the spare time, come join us for lunch afterwards. We always pick a place nearby to socialize and get to know fellow investors over a beer or some food. If you’ve got any questions don’t hesitate to contact us for more details.Please don't forget to Here@Justin R. @Kevin Fox @Parker Cox
Originally posted by @Justin R.:
Originally posted by @Tim G.:
Originally posted by @John Steele:Looking forward to seeing everyone there, the last event was great!
We better pick a spot for beers after, its getting serious now! Can't wait to see you two there.
I tried to find a local place to grab a drink one time with @Ben Andrews and we had to drive all over the place till we eventually ended up at O'Briens (http://obrienspub.net/). Awesome place for a drink, but kinda far away.
I'd recommend settling on somewhere ahead of time!
Looks like Khans Grill isn't too far away, they have a great spot for food and beers and a pretty good menu. We'll head there after! It's no Shakespeare's but I'll settle.
Update!
So the event was a MASSIVE success. We had more people than anticipated with right about 60 attendees checking out the property. Since I'd not visited the place yet I hadn't anticipated just how interesting a project it was.
@Justin R. killed it, showing every detail he could think of and guiding all these local investors and even one from Ohio (@Derek Rice) who wins the long haul award.
Here are a few photos from the event. I'll be sure to document future ones better! Thanks to those who came and to those who missed out, plans are for another next month.
Where can I sign up for the next meeting?
Originally posted by @Judy Ortley:
Where can I sign up for the next meeting?
Hi Judy, if you sign up for this event even though its a past event you'll be on the list to get emails. Tentatively we've planned for Saturday Feb 27th to be the next one. I can't wait.