New investor from San Diego CA

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New investor from San Diego CA

Sean Yang
Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes

Hi, I've always been fascinated by the real estate business and I am glad I found this site. I've attended several guru seminars in town but I think all those talks are worth nothing unless I put my foot in. I bought my first rental property on the east coast last year and I will continue to look for rental properties both locally and across the nation. Please feel free to reach out to me if any of you share the same interests. Best luck to all!

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Dan H.Pro Member
Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
9y
Originally posted by @Gabrion Kisler:

@Sean Yang, and Cecil Mason, and James Wachob,

Gentlemen, 

...

Sean, where do you find your guru seminars in San Diego?  I have been wanting to start attending some of these but I don't really know where to start looking, and more importantly how to determine if it's legitimate or a sales pitch.  Maybe that is the gamble.  

...

I am not a big fan of most of those guru seminars.  They do a decent job motivating which helps them sell subsequent seminars.  I think the information that the provide is easily available on the internet.  You could probably ask any question on this site and get someone that knows what they are talking about to answer (but you may have to filter out those that do not know what they are talking about).

There is a monthly Meet up at a current REI project put on by some San Diego BP members (@Justin R., @Parker Cox, @Kevin Fox, @Tim G.).  This is not a seminar but more an open house with a exchange of information.  Especially if you stay to the end of the meet up there is a lot of chance to talk with the investor and get your questions answered with a smaller group than are present earlier in the Meet up when there may be 30 or 40 people there.

The Meetups have ranged from flips of SFH, to flip of a SFR that will be sold as a SFR but the buyer will be renting it as a duplex (included tricks of the trade to work around the SFR zoning), to a quad that is a buy n hold where each unit can use some rehab, to a purchase of empty lot and building 3 new SFRs. In summary they have ranged a lot of the REI scenarios and I learned something at almost all of them even the building of 3 new units which is above my comfort zone (I learned it is ~$100K to break dirt on a new SFR which places a bottom value on any SFR).

There has been no selling. I have found them to be motivating, a chance to network, and learn something.

I recommend you come to at least one. It will be worth the time just for the chance to network with other San Diego RE investors.

I have not seen the posting for the next one yet. I have one of my search words be "San Diego". It usually (but not always) catches the BP Meet up open house post.

Good luck

 
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  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    9y

    Hey @Sean Yang welcome to BiggerPockets and check out the Ultimate Beginner's Guide: http://biggerpockets.com/ubg

    BiggerPockets
    0Reply
  • Jo-Ann LapinPro Member
    Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
    9y

    welcome to BP . Happy to network and assist

    [email protected]
    0Reply
  • Johnathan Alesso
    Investor · San Diego, CA · Member since 2015 · 111 posts · 34 votes
    9y

    Welcome!  I live in San Diego and invest in Pennsylvania.  Where exactly is your East Coast property?

    I use a trusted property manager to handle our rentals back in PA. 

    Have you considered investing in SoCal?

    1Reply
  • Joe Sherman
    Residential Real Estate Broker · San Diego, CA · Member since 2015 · 38 posts · 11 votes
    9y
    Welcome to bigger pockets. Lots of information at your fingertips. What type of properties are you looking for locally?
    0Reply
  • Cecil Mason
    Investor · Memphis, TN · Member since 2015 · 21 posts · 9 votes
    9y

    Welcome to BP! I to also live in San Diego and have decided to invest in my hometown Memphis,Tn rather than locally! Please do let me know if I can be of any assistance.

    Happy Investing 

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Johnathan Alesso My rental property is in Massachusetts. I am still researching in the SoCal area but cash flow is terrible here. I know SoCal will be doing well for long term appreciation but that's something out of my control. I am thinking about diversifying the investment into both cash-flow and appreciation so that the portfolio is more solid regardless the economic cycles. 

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Cecil Mason Memphis is actually on my list. How's the rental market there in terms of cash flow and vacancy? Which area in town is the best option in your opinion? 

    0Reply
  • Steve S.
    Lender · Los Angeles, CA · Member since 2015 · 800 posts · 229 votes
    9y

    This site is an amazing resource. Best of luck here on the Left Coast.

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Joe Sherman Locally I prefer multi-family homes with 2-4 units. However, it seems quite difficult to find these here in SD. I saw some in downtown and north county but none of them seem to work well after I crunch the numbers. I recently started to paying some attention to SFH's in Temecula area as well because they seem under valued in my opinion as compared to the surrounding towns, but I am not sure how soon these will appreciate. What's your suggestion?

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Steve S. Thank you for the best wishes. Can you approve my request? I was also going to ask you about the $110k investment deal in Anaheim, CA, but I was not able to reply on that page due to my status. Let me know if you want to discuss more about it. Thank you. 

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Dave Visaya Thank you! I've just downloaded the guide and will read it soon. 

    0Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 893 votes
    9y

    @Sean Yang when you have time to visit Memphis, hit me up. I will be happy to show you around, my town. 

    There are some great investment opportunities and my team would love to serve as your "boots on the ground"

    0Reply
  • Gabrion Kisler
    Bend, OR · Member since 2016 · 5 posts · 1 vote
    9y

    @Sean Yang, and Cecil Mason, and James Wachob,

    Gentlemen, 

    This is my First response to anything on this site, although I have been on here for a little while I have mostly been an outside observer.  I am a military member in the San Diego area.  I retire in less than a year an a half and will be relocating to central Oregon.  Seeing a few guys that live in this city talking has apparently pulled my Chatty Cathy string.

    Sean, where do you find your guru seminars in San Diego?  I have been wanting to start attending some of these but I don't really know where to start looking, and more importantly how to determine if it's legitimate or a sales pitch.  Maybe that is the gamble.  

    Cecil, James, and Sean,

    My wife and I have been house hacking since we moved here.  I was transferred here from Pensacola, FL and we managed to buy a duplex in South Park.  The building had been severely neglected which helped us in the long run, in fact we just had it painted last week.  We have spent the last year slowly turning it over.  We started this project before I was aware of Bigger Pockets and to be honest I don't know if the numbers would work, and I haven't run them.  Since we have to have housing, I think we are coming away okay.  The tenants live below us and cover 2/3 of the mortgage.  As a result our cost of living hasn't changed from Florida (only our standard of living since we went from a 1/2 acre and 1500 sqft to 1/16th acre and 650 sqft).  Once we move to Oregon I think we will cashflow 500 dollars/month or more.  

    I have to put a plug in for my real estate agent Ted Lucier.  This deal would not have happened without him.  He has been doing real estate here for upwards of fifteen years or more.  

    If anybody is ever interested in getting together to discuss real estate, and investing overall, let me know.  I love this site but I also like getting face to face conversations.  I would be very interested in discussing out of state investing with you guys. 

    Sorry for the long post!

    0Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    9y

    @Sean Yang

    Welcome to the BP family! You came to the right place to learn all about real estate investing! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

    Wishing you the best!

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Sean Yang

    Welcome to Bigger Pockets. You are at the right place to continue to learn about real estate investing.

    0Reply
  • Dan H.Pro Member
    Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
    9y
    Originally posted by @Gabrion Kisler:

    @Sean Yang, and Cecil Mason, and James Wachob,

    Gentlemen, 

    ...

    Sean, where do you find your guru seminars in San Diego?  I have been wanting to start attending some of these but I don't really know where to start looking, and more importantly how to determine if it's legitimate or a sales pitch.  Maybe that is the gamble.  

    ...

    I am not a big fan of most of those guru seminars.  They do a decent job motivating which helps them sell subsequent seminars.  I think the information that the provide is easily available on the internet.  You could probably ask any question on this site and get someone that knows what they are talking about to answer (but you may have to filter out those that do not know what they are talking about).

    There is a monthly Meet up at a current REI project put on by some San Diego BP members (@Justin R., @Parker Cox, @Kevin Fox, @Tim G.).  This is not a seminar but more an open house with a exchange of information.  Especially if you stay to the end of the meet up there is a lot of chance to talk with the investor and get your questions answered with a smaller group than are present earlier in the Meet up when there may be 30 or 40 people there.

    The Meetups have ranged from flips of SFH, to flip of a SFR that will be sold as a SFR but the buyer will be renting it as a duplex (included tricks of the trade to work around the SFR zoning), to a quad that is a buy n hold where each unit can use some rehab, to a purchase of empty lot and building 3 new SFRs. In summary they have ranged a lot of the REI scenarios and I learned something at almost all of them even the building of 3 new units which is above my comfort zone (I learned it is ~$100K to break dirt on a new SFR which places a bottom value on any SFR).

    There has been no selling. I have found them to be motivating, a chance to network, and learn something.

    I recommend you come to at least one. It will be worth the time just for the chance to network with other San Diego RE investors.

    I have not seen the posting for the next one yet. I have one of my search words be "San Diego". It usually (but not always) catches the BP Meet up open house post.

    Good luck

     
    3Reply
  • Gabrion Kisler
    Bend, OR · Member since 2016 · 5 posts · 1 vote
    9y

    @Dan H.,

    Thanks for all the great information.  I will add San Diego to my search words.  I don't know why that didn't occur to me before.

    Thanks again

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Gabrion Kisler Congrats on your first post! I attended a local 3-day seminar hosted by FortuneBuilder and it was a mix of sales pitch and some good info just like Dan mentioned. I agree that most of those info can actually be found online anyways, but it was nice to learn them in an organized way. They of course were trying to sell subsequent programs which would cost you a fortune. Those programs would provide you with the entire system that they were using step by step, and would also assign you a mentor who can help you along the way. I guess it's beneficial for somebody who's already in the business but struggling due to lack of a good system and network. I didn't sign up the subsequent mentor program so I couldn't speak further. Maybe somebody here who's been through the program can provide more insight. 

    0Reply
  • Sean Yang
    OP
    Investor · San Diego, CA · Member since 2016 · 69 posts · 18 votes
    9y

    @Dan H. Sounds like the Meetups is the way to go! I also prefer a smaller group which is always more efficient and specific than large seminars. Let me know if there is another meetup in the near future and I will be glad to be connected with you guys!

    0Reply
  • Gabrion Kisler
    Bend, OR · Member since 2016 · 5 posts · 1 vote
    9y

    @Sean Yang  Thanks man.  I knew I needed to get on here ans start talking to people but I've never really been into technology.  Even in my masters I hated posting online.  Thanks for the information.  I do like to get information like that as well, in a setting where I can have a conversation.  I'm going to look at trying to hit up one of these San Diego meet ups.  If you are familiar with the book Millionaire Real Estate Investor, that author's company is based here in San Diego and I believe they hold seminars.  I'm going to look into it and I'll post something if it sounds promising.

    1Reply
  • Euan Arcia
    Real Estate Investor · San Diego, CA · Member since 2015 · 69 posts · 53 votes
    9y

    My friend attended that Fortune Builders seminar. Like @Sean Yang mentioned it provides good info in a more organized/professional way. 

    I would try to hit up the weekly/monthly SD meetups. Or try and find a mentor in the area. You'll learn the most from them. 

    1Reply
  • Gabrion Kisler
    Bend, OR · Member since 2016 · 5 posts · 1 vote
    9y

    @Euan Arcia 

    I must have missed the part about Fortune Builders.  I was just on their sight and am now looking for seminars I can take from them.  Thanksf or the advice!

    0Reply
  • Jerry Padilla
    Lender · Rochester, NY · Member since 2014 · 3k+ posts · 1k+ votes
    9y

    @Sean Yang

    This is a great site to learn from others! @Kevin Fox is a local agent that may be able to help you as well. 

    1Reply
  • Kevin FoxPro Member
    Real Estate Agent · San Diego, CA · Member since 2014 · 1k+ posts · 635 votes
    9y

    @Sean Yang

    Well, I was going to introduce myself, but it looks like most of my introduction was taken care of by @Jerry Padilla & @Dan H. .

    Thanks guys! Haha

    With that said, I am certainly more than happy to help you with any of your needs in San Diego REI. Please feel free to reach out!

    1Reply
  • Daniel Y.
    Investor · Henderson, NV · Member since 2016 · 227 posts · 86 votes
    9y

    @Sean Yang

    Hi Sean and welcome! I'm new here as well, but found some very helpful post so far. I read back on some of your previous post. First off, totally agree with you. The ROI, especially in SoCal is just terrible. The appreciation is still great, HOWEVER it still depends on the area. I personally would probably avoid that Temecula property. Probably a lower price, decent to good rental return, and the property probably looks really good. The issue is the property in that area doesn't appreciate as much as areas like where you and I are, next to water and cities were it is anchored with large companies to continue to provide jobs, which equals to staying where they are to pay you rent.

    The Anaheim property does sound interesting. I live 30 minutes away from Anaheim, so it really depends on the area of Anaheim where you can get the most appreciation in the long run. Feel free to private message me and I'll be happy to help. Also, let me know about the SD and Tennessee, if you dive into that, scene. I am interested in investing in those area if there is a great opportunity.

    0Reply
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