Newbie in Santa Barbara

Santa Barbara, California
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Newbie in Santa Barbara

Cyndi Lees
Santa Barbara, CA · Member since 2017 · 25 posts · 5 votes

Hello All,

I just thought I would introduce myself, my name is Cyndi and I hope to learn a thing or 2, about real estate investing in a very high cost area.  I did a flip in Phoenix and did very well but have been intimidated by the Santa Barbara market.

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Jill Agonias
Member since 2021 · 3 posts · 3 votes
2y

Hi Cyndi! I'm in Santa Barbara too and am currently working on a structural remodel. Our city is definitely very nuanced but there can be a LOT of upside for appreciation. That being said, there are also more financial risks and permitting is notoriously tricky. I'm an agent with Village Properties and would be super happy to chat with you one-on-one about all I've learned in my remodel experience and as a local realtor. I'll send you a private message! 

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  • Allen MarisPro Member
    Investor · Santa Ynez, CA · Member since 2008 · 375 posts · 175 votes
    2y

    Hi Cyndi, I’m just over the hill in SYV and also in an expensive market. Welcome to BP. 

    0Reply
  • Cyndi Lees
    OP
    Santa Barbara, CA · Member since 2017 · 25 posts · 5 votes
    2y

    Hi Allen, have you been successful in Santa Ynez or do you invest in other areas?

    0Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    2y

    Welcome to BiggerPockets Cyndi and good luck investing!

    Podcast Guest on Show #121
    0Reply
  • Allen MarisPro Member
    Investor · Santa Ynez, CA · Member since 2008 · 375 posts · 175 votes
    2y
    Quote from @Cyndi Lees:

    Hi Allen, have you been successful in Santa Ynez or do you invest in other areas?

    I’ve been only out of the area other than my primary. But the numbers just don’t work locally. 
    0Reply
  • Jeffrey McKeePro Member
    Real Estate Agent · Plano, TX · Member since 2013 · 479 posts · 91 votes
    2y

    Hi Cyndi! Welcome to BP forum! All the best!

    0Reply
  • Bradley BuxtonBusiness Member
    Real Estate Agent · NV · Member since 2023 · 1k+ posts · 717 votes
    2y

    @Cyndi Lees

    Welcome to BP!  I'm a former SLO CA resident now in Tahoe Reno Nevada area. You can make numbers work in the area you will need more capital and a good strategy. 

    0Reply
  • Jill Agonias
    Member since 2021 · 3 posts · 3 votes
    2y

    Hi Cyndi! I'm in Santa Barbara too and am currently working on a structural remodel. Our city is definitely very nuanced but there can be a LOT of upside for appreciation. That being said, there are also more financial risks and permitting is notoriously tricky. I'm an agent with Village Properties and would be super happy to chat with you one-on-one about all I've learned in my remodel experience and as a local realtor. I'll send you a private message! 

    1Reply
  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    2y

    Hi Cyndi, glad to have you as a part of this awesome community!

    561-253-6640
    0Reply
  • Cyndi Lees
    OP
    Santa Barbara, CA · Member since 2017 · 25 posts · 5 votes
    2y

    Hi Jill, I would definitely be interested in hearing from you and your experiences in Santa Barbara. Please message me.

    Thank you

    0Reply
  • Cyndi Lees
    OP
    Santa Barbara, CA · Member since 2017 · 25 posts · 5 votes
    2y

    Thanks it's good to be here.

    0Reply
  • Cyndi Lees
    OP
    Santa Barbara, CA · Member since 2017 · 25 posts · 5 votes
    2y

    Thank you.

    0Reply
  • Lucas Martinez
    Santa Barbara, CA · Member since 2017 · 1 post · 0 votes
    2y
    Quote from @Cyndi Lees:

    Hello All,

    I just thought I would introduce myself, my name is Cyndi and I hope to learn a thing or 2, about real estate investing in a very high cost area.  I did a flip in Phoenix and did very well but have been intimidated by the Santa Barbara market.


     Hi Cyndi,

    I invest locally here in SB. I've done multiple models (LTR, MTR, STR, Fix & Flip, etc) all with varying levels of success, both in the City and the unincorporated County. It's definitely possible if you're smart about it!

    0Reply
  • Lucas MartinezBusiness Member
    Developer · Santa Barbara, CA · Member since 2021 · 81 posts · 48 votes
    2y
    Quote from @Lucas Martinez:
    Quote from @Cyndi Lees:

    Hello All,

    I just thought I would introduce myself, my name is Cyndi and I hope to learn a thing or 2, about real estate investing in a very high cost area.  I did a flip in Phoenix and did very well but have been intimidated by the Santa Barbara market.


     Hi Cyndi,

    I invest locally here in SB. I've done multiple models (LTR, MTR, STR, Fix & Flip, etc) all with varying levels of success, both in the City and the unincorporated County. It's definitely possible if you're smart about it!


     Whoops, replied from the incorrect account. You can see some of our projects in my profile. 

    0Reply
  • Baird KingPro Member
    Investor · Santa Barbara & Ventura · Member since 2020 · 227 posts · 65 votes
    2y

    Hi @Cyndi Lees.  I invest in Santa Barbara and Ventura and it has worked out great for me.  The key is to get creative.  You definitely aren't going to have a great predictable return, especially in the short term, if you try to invest turnkey; at least at the single family and small multi-family level.  My properties are small multifamily and to-date they have generated between 50 and 60% internal rates of return for the past four years.  I will say that these IRRs do not take my and my wife's time and sweat into account.  We have worked very hard to get these numbers, but we love doing it.  

    I also run the local REI meetup. Would love to have you join. Third Thursday of every month. Shoot me a message if you are interested.

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Cyndi Lees

    Welcome to BP!

    To do well in pricey places like Santa Barbara, use what locals know, look into ways to invest, team up with backers, check out how to pay for things, aim for cheap homes, do deep checks on the market, and get to know folks in the area. Begin on a small scale, look closely at possible deals, and aim to find worth in homes, not just be scared off by big price tags.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    0Reply
  • Cyndi Lees
    OP
    Santa Barbara, CA · Member since 2017 · 25 posts · 5 votes
    2y

    @Wale Lawal Thanks for the advice.

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y
    Quote from @Cyndi Lees:

    @Wale Lawal Thanks for the advice.


     My pleasure!

    Keep learning and growing...

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    0Reply
  • River SavaPro Member
    Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Welcome Cyndi!

    [email protected]
    0Reply
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