San Diego, CA · Member since 2017 · 16 posts · 5 votes
Hello everyone,
Im just starting to get my feet wet in real estate investing so I'm going to go ahead and apologize for all of the dumb questions I'll be asking haha.
Now that that's out of the way, my name is Matt. I've had a little experience in real estate, but never really looked at what I was buying as a money making vehicle. Oh how foolish I was. Now that I've seen the error of my ways, I'm looking to learn as much as I possibly can. I would love to pick all of your brains on the do's and don'ts of investing and entrepreneurship in general.
My main area of interests right now are single family, multifamily, and then once my feet are wet, maybe start learning on fix and flips. I'm mainly looking to invest out of state right now since California is uber expensive.
I look forward to learning with and from all of you.
Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
9y
Welcome to Bigger Pockets from north county. Lisa and I are discussing a socal meet and greet at my commercial property if you are interested. Possibly catered event with everyone from bigger pockets to get info from and contact information.
Developer · San Diego, CA · Member since 2015 · 1k+ posts · 1k+ votes
9y
@Kevin Fox@Parker Cox and @Dan H. Maybe we could do a "Boring B&H" event, since that's what a lot of people (especially newer folks) seem to thinking about. Maybe do some comparing on processes different owners use, manual and digital tools they use, specifics on how owners calculate their projected and actual budgets and proformas (down to the details on what's included in "Maintenance" and what people break out into separate line items), budgets for real properties and, details on how people find and deal with vendors for different types of issues, how owners make decisions on materials and when things need to be upgraded, how owners are working normal jobs while landlording....
There's some San Diego area nuances to all this stuff, and definitely a learn-by-doing thing. I'd volunteer to participate and would like to see any tips or inspiration from other small-medium self-managing landlords.
Just brainstorming. The renovation and new development stuff is sexy and visual, but the next 5 years spent operating the rental is more important.
Independent Insurance Agent · San Diego, CA · Member since 2015 · 138 posts · 56 votes
9y
@Justin R. I am on board with that. I think there is a lot of value moving that direction and it differentiates us from the "tour a project" folks that started up last year.
Developer · San Diego, CA · Member since 2015 · 1k+ posts · 1k+ votes
9y
@Parker Cox No differentiation needed, IMO - great to collaborate where possible. But, having a variety of different hosts allows this series to more explore the variety of niches and strategies that people are doing.
Real Estate Investor · Spring Valley, CA · Member since 2016 · 288 posts · 98 votes
9y
@Matthew O'Fallon welcome to BP. San diego is growing our BP presence. I currently invest out of state and will answer any question I can (although probably not much lol). good luck
San Diego, CA · Member since 2017 · 16 posts · 5 votes
9y
I'm looking to invest out of state and would love to connect with you on that Alex Shaughnessy. There isn't really much here that's affordable for a newbie. My main questions on that would be how did you find the market you wanted to invest in? How were you able to settle on a neighborhood? What can I do to weed out bad agents and property managers?
Justin R.@Parker Cox@Dan Heuschele All of those ideas sound amazing. I would love to see a "Boring B&H" since thats were I'm going to start out. Just seeing how you find the numbers you need as far as projected vs actual would be amazing.
Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
9y
We own a commercial property at 130 industrial way corona and we're going to put it on the market for about 1.1 million. I am awaiting the first estimate from the contractor tomorrow and have a feeling it's a big bill. I don't know we're to turn for the cash a bank a investor a ???. I just don't know thank you for any insight Ali!
San Diego, CA · Member since 2017 · 16 posts · 5 votes
9y
I just want to take a moment to say that this is incredible. In just one introductory post on BP, so much knowledge has come out. I am truly appreciative of everyone being so welcoming and willing to pass on their knowledge. A true community of investors.
Surveyor · Hemet, CA · Member since 2015 · 797 posts · 112 votes
9y
I will agree with this! I might have missed this what part of ad are you in? I was living by pechanga great area cool people. Be nice to hear what you have learned. Been on the phone with lenders contractors most of the last few days. Lots of good connections here!
Developer · San Diego, CA · Member since 2015 · 1k+ posts · 1k+ votes
9y
@Robin Boyer Feel free to send me a message on BP (or email - see my profile) about what you're doing in Corona. If it's something in my wheelhouse, I can help out ... otherwise I could point you to other folks who can.
I am definitely on board with the idea as well. I see a ton of value in that model from an educational standpoint (both in terms of general landlording insight as well as rules/tools specific to the SD market).
The only concern I have (similiar to what Justin mentioned about b&h not being as sexy as flips) is that I have no idea whether an event of that nature will drive traffic. There is a likely a reason "Manage this house" hasn't made quite the splash that "flip this house" has on TV, but that definitely doesn't mean it can't work for us.
Why don't the three of us chat sometime within the next few days and see what we can put together?
San Diego, CA · Member since 2017 · 16 posts · 5 votes
9y
I haven't been Robin Boyer. I have never really been north of San Marcos with the exception of going to a Dodgers game. And if I can help it, I'm gonna avoid driving in LA ever again haha.
I am definitely on board with the idea as well. I see a ton of value in that model from an educational standpoint (both in terms of general landlording insight as well as rules/tools specific to the SD market).
The only concern I have (similiar to what Justin mentioned about b&h not being as sexy as flips) is that I have no idea whether an event of that nature will drive traffic. There is a likely a reason "Manage this house" hasn't made quite the splash that "flip this house" has on TV, but that definitely doesn't mean it can't work for us.
Why don't the three of us chat sometime within the next few days and see what we can put together?
Maybe not quite the same splash but "Renovate to Rent" is pretty good. They purchase properties that have forced rent appreciation (similar to forced appreciation -,they need at least rehab and sometimes more value add) and then rent the units.
When you did Sarah's BRRR I did not think there were less attendees than the flips but you would have more accurate numbers. My issue with Sarah's BRRR is that the primary reason it worked for forced appreciation was the effort Sarah and her husband were putting forth. If most effort was contracted out the costs and forced appreciation would have been not worth the effort. It looks like a good start as the first BRRR is often the most challenging but it would not scale very easily (it is difficult to scale if you are doing most of the rehab yourself).
Lender · San Diego, CA · Member since 2011 · 664 posts · 231 votes
9y
Welcome @Matthew O'Fallon. I started out-of-state about 10 years ago and still have one rental out-of-state. It's not a bad way to go, but I can't check on my own property by driving there and every once in a while it needs to be done and costs a bit of money which takes away from the bottom line. Best of luck.
Investor · Escondido, CA · Member since 2017 · 55 posts · 15 votes
9y
Hi my name is Martin and I am new to BP as well to REI. I am GC working and living in San Diego since 2003. Although I have worked on all kinds of projects (residential,commercial) from San Francisco to Chula Vista I have never invested in Real Estate except for our house. I would love to meet and network with you guys so please let me know of any meet ups that might take place, also are there any REIC in SD that any of you attend. I found only one that meets every other Thursday but I have not attended it yet. Thank you.