Newbie investor in San Diego, CA

New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes

Hello all! Newbie REI located in San Diego, CA who will start off by doing single family fix and flips locally or out of state.

Looking forward to learning, connecting and building relationships with other BP members all over!

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Saleh RiaziPro Member

Investor · San Jose · Member since 2018 · 46 posts · 65 votes

Hey @Ricardo Romero, I agree with @Maxwell Ventura. It would be easier for you to do fix and flip where you live. Managing that out-of-state would not be fun. But if you do decide to do that your best bet is probably some real estate agent who has a lot of connections in the area. Connect with @@Remington Lyman.

Good luck

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Marlen Weber
Specialist · Plano, TX · Member since 2020 · 2k+ posts · 861 votes
6y
Welcome to BiggerPockets and best of luck on your REI journey. @Ricardo Romero
1 Reply
Maxwell Ventura
Real Estate Agent · San Diego, CA · Member since 2016 · 308 posts · 173 votes
6y
@Ricardo Romero
Welcome to BP. I'd recommend starting to invest locally. If you're planning on flipping SFRs I'd recommend keeping these things in mind.
1) Assuming you're using cash or hard money. Look for properties that conventional banks won't lend.
2) Look for some type of ADU play. Conversion, attached, or free build. Or building up.
3) Leverage non-optimized Zoning.
Hope this helps.
1 Reply
Chloe Teasley
New to Real Estate · Columbus, OH · Member since 2020 · 6 posts · 18 votes
6y
Hey Ricardo, Welcome to BP and REI from Columbus, Ohio! @Ricardo Romero
2 Reply
Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
6y
Originally posted by @Ricardo Romero:
Hello all! Newbie REI located in San Diego, CA who will start off by doing single family fix and flips locally or out of state.

Looking forward to learning, connecting and building relationships with other BP members all over!

Which markets are you looking into? I am noticing a lot of out-of-state investors investing where I live, Columbus, Ohio.
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Andrew SyriosPro Member
Moderator
Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
6y
Welcome aboard Ricardo and best of luck investing!
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Joseph Gibbs
New to Real Estate · San Diego, CA · Member since 2020 · 6 posts · 3 votes
6y
@Maxwell Ventura can you please elaborate on what non-optimized zoning is and how to leverage it?
I am looking for a BRRR opportunity where I can renovate a SFR with an ADU/ADU opportunity. I'd like to house hack by living in the ADU and have the ability to do short term rental on the ADU when I travel. Thanks!
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Maxwell Ventura
Real Estate Agent · San Diego, CA · Member since 2016 · 308 posts · 173 votes
6y
@Joseph Gibbs
Leverage Non-Optimized Zoning = Taking advantage of opportunities on the lot such as building additional units, building up, additional sq ft, etc.. Whatever you can get way w/ that is permitted.
Sometimes (not often) we see a SFR when the property is zoned for multi family dwellings.
You're on the right track w/ your strategy. Happy to be of assistance to you anyway I can.
Cheers,

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Saleh RiaziPro Member
Investor · San Jose · Member since 2018 · 46 posts · 65 votes
6y
Hey @Ricardo Romero, I agree with @Maxwell Ventura. It would be easier for you to do fix and flip where you live. Managing that out-of-state would not be fun. But if you do decide to do that your best bet is probably some real estate agent who has a lot of connections in the area. Connect with @@Remington Lyman.
Good luck

2 Reply
Zeke ListonBusiness Member
Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
6y
That's great @Ricardo Romero, lots of great people to connect with on BP! Best of luck!
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Mary Gansallo
Investor · WA · Member since 2017 · 30 posts · 17 votes
6y
Welcome @Ricardo RomeroJust curious,where are you looking out of state? I have property in Dallas and managing from Seattle.
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Rachel H.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
6y
@Ricardo Romero Great to hear! Welcome to BP.

If you're looking to buy out of state, definitely connect with @Ali Boone here. That's what she does and she's written on the topic for the BP blog. I'm sure she'll be happy to answer any questions that you have about investing and buying properties out of state. Hope that helps!
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Christopher Parsons
Edmonds, WA · Member since 2019 · 61 posts · 46 votes
5y
@Ricardo Romero welcome to the BP family. Great community here full of amazing people who want to help. Looking forward to seeing some of your projects!
0 Reply
Blake Wood
Real Estate Agent · San Diego, CA · Member since 2020 · 25 posts · 13 votes
5y
@Ricardo Romero that is great news. Despite the tough market right now, there are definitely still plenty of deals to find!
0 Reply
Dmitriy Fomichenko
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
5y
Welcome to BP community @Ricardo Romero ! It is a great place to meet new friends and learn about various aspects of real estate and more.

Check out BP Podcasts: https://www.biggerpockets.com/podcast

Best of luck!
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Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Marlen Weber Thank you!
1 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Maxwell Ventura Thank you for the tips!
Will definitely keep these in mind when browsing for distressed properties.
1 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Chloe Teasley Hi Chloe! Sent you a pm
0 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Andrew Syrios Thank you Andrew! How’s the market out in KC?
0 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Saleh Riazi Definitely browsing around my location but I also just read the book "Long Distance REI by David Greene" and it's gold!
Just got in touch with Remington. Thank you!
0 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Mary Gansallo Hi! Thank you!
That’s great, how is that going for you?
I definitely have Texas on the map.
0 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Rachel H. Hi!
Thank you for this! Will head on over to Ali.
1 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Christopher Parsons Thank you!
Definitely!
0 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Blake Wood Let’s connect!
0 Reply
Ricardo Romero
OP
New to Real Estate · San Diego, CA · Member since 2020 · 12 posts · 7 votes
5y
@Dmitriy Fomichenko Thank you!
Already have listened to a few podcasts and love them.
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