Aspiring BRRR investor from San Diego, CA > worldwide!

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Aspiring BRRR investor from San Diego, CA > worldwide!

Kristina Dobyns
Member since 2020 · 24 posts · 6 votes

Hi Bigger Pockets peeps!

My name is Kristina and I am originally from San Diego, CA but have spent a lot of time in the Bay Area, Mexico, and am currently in Costa Rica. I have a small online e-commerce business that I can run anywhere, so that is allowing me to escape the California Covid situation right now :p

My only background in real estate is selling the houses I inherited with my sister when our parents died.
However, a value of mine is lifelong learning, so I am completely up to the challenge for learning more about real estate. I am thinking BRRR will be my strategy of choice.

I am thinking of buying 4-5 multifamily properties in one area, such as in Atlanta, Austin, or in Boulder; and then after that buy a place in San Diego and in the Bay Area. (I wouldn't want to start in San Diego or the Bay because it will cost way more for one property, and I want to start with someplace a bit less expensive "in case I mess up" [e.g. as I go through the learning curve!]).

I'd love to invest remotely (since I am often times abroad) and want to develop a reliable and trustworthy team.

I'd love to generate wealth that is relatively stress-free and relatively passive, so I can "fill my cup" and then generously share light and love and other goodies with others.

I found out about Bigger Pockets from Instagram. I'm excited to have found this forum and community! It's inspiring! 

I'd love to connect with other like-minded people.

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Demarcus Crump
Financial Advisor · Atlanta, GA · Member since 2020 · 97 posts · 24 votes
5y

Heyy @Kristina Dobyns What’s Up, welcome to the BP Fam! You’ll learn a plethora of knowledge and network with a lot of like minded individuals. If you ever think of tapping into this ATL market like you said above let me know. I have a gang of market expertise.

HAPPY INVESTING!

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  • Demarcus Crump
    Financial Advisor · Atlanta, GA · Member since 2020 · 97 posts · 24 votes
    5y

    Heyy @Kristina Dobyns What’s Up, welcome to the BP Fam! You’ll learn a plethora of knowledge and network with a lot of like minded individuals. If you ever think of tapping into this ATL market like you said above let me know. I have a gang of market expertise.

    HAPPY INVESTING!

    2Reply
  • Kevin Hunter
    Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
    5y

    @Kristina Dobyns, welcome to BP.  You will learn a ton on this site.  Get involved in the forums and start listening to the podcasts.  They are priceless.  Good luck in your journey!!

    0Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    5y

    Welcome! I'd listen to podcasts and finding the markets that are on the up. Real Estate is exciting and you can scale it. 

    0Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Kevin Hunter:

    @Kristina Dobyns, welcome to BP.  You will learn a ton on this site.  Get involved in the forums and start listening to the podcasts.  They are priceless.  Good luck in your journey!!

    I've been listening to the podcasts - they are so great!  

    0Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Caleb Brown:

    Welcome! I'd listen to podcasts and finding the markets that are on the up. Real Estate is exciting and you can scale it. 

    I'm not sure if I am replying correctly :o

    but anyway caleb THANK YOU! yes i hope to learn and scale! :D 

    0Reply
  • Steve K.
    Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
    5y

    Welcome to BP! I'd be happy to discuss Boulder with you. I guess we're still a little less expensive than San Diego and the Bay, but we're doing our best to catch up ;) If you're looking for multifamily however I have to warn you that there simply aren't very many of them that come up for sale here, and when they do the price to rent ratios aren't what many investors that follow the Bigger Pockets "Cashflow is King" mentality are looking for. For example there's a triplex my friend is about to list in a great location right downtown for $1.5M, and rents are $8k/month. That's pretty typical of the pricing and yield that you'll see here in the small MF space. The price to rent ratios aren't scaring away all investors however as there are many high net worth/institutional investors active in this market because it's an extremely safe place to park money and benefit from appreciation. For example Boulder has had consistent price growth going back to the early 80's, and was the most resilient housing market in the last crash. Our annual appreciation merely dipped down to 2-3% (from 6% annual average over the last 40yrs) during that time (2008-2010) when many other markets crashed and some saw values drop by half. So the pricing stability and consistent appreciation is what draws investors here more than cash flow. 

    However nearby Denver has more cash-flowing opportunities and many more small MF properties for sale, although it's a highly competitive market with compressed cap rates currently as well. I do most of my investing in Denver and outlying towns that have better price to rent ratios than Boulder, although my Boulder properties have had by far the best overall returns in my portfolio due to appreciation, principle pay down, depreciation tax benefits, and rapidly increasing rents. So it depends on what your goals are and how important the cash flow piece is for investing goals. Hope that helps give you a quick "lay of the land" and I'd be happy to continue the conversation. I'm an agent here working with mostly investors, many of whom are out of state/out of country. Again, welcome to BP! 

    0Reply
  • Mark Frattini
    Real Estate Agent · San Diego, CA · Member since 2014 · 338 posts · 176 votes
    5y

    Hi @Kristina Dobyns welcome to Bigger Pockets! You found the right place to start off your real estate investing education. I'm here in San Diego. Let me know if there is anything I can do for you. Good luck!

    0Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Steve K.:

    Welcome to BP! I'd be happy to discuss Boulder with you. I guess we're still a little less expensive than San Diego and the Bay, but we're doing our best to catch up ;) If you're looking for multifamily however I have to warn you that there simply aren't very many of them that come up for sale here, and when they do the price to rent ratios aren't what many investors that follow the Bigger Pockets "Cashflow is King" mentality are looking for. For example there's a triplex my friend is about to list in a great location right downtown for $1.5M, and rents are $8k/month. That's pretty typical of the pricing and yield that you'll see here in the small MF space. The price to rent ratios aren't scaring away all investors however as there are many high net worth/institutional investors active in this market because it's an extremely safe place to park money and benefit from appreciation. For example Boulder has had consistent price growth going back to the early 80's, and was the most resilient housing market in the last crash. Our annual appreciation merely dipped down to 2-3% (from 6% annual average over the last 40yrs) during that time (2008-2010) when many other markets crashed and some saw values drop by half. So the pricing stability and consistent appreciation is what draws investors here more than cash flow. 

    However nearby Denver has more cash-flowing opportunities and many more small MF properties for sale, although it's a highly competitive market with compressed cap rates currently as well. I do most of my investing in Denver and outlying towns that have better price to rent ratios than Boulder, although my Boulder properties have had by far the best overall returns in my portfolio due to appreciation, principle pay down, depreciation tax benefits, and rapidly increasing rents. So it depends on what your goals are and how important the cash flow piece is for investing goals. Hope that helps give you a quick "lay of the land" and I'd be happy to continue the conversation. I'm an agent here working with mostly investors, many of whom are out of state/out of country. Again, welcome to BP! 

    Steve- wow- THANK YOU for your reply! That is super helpful! I had no idea the Boulder market was so expensive. I HAVE heard that Denver is super overpriced at the moment though. It seems like a cool city though. Do you have any suburbs you recommend for investing? Thanks again for your comprehensive "lay of the land." I appreciate it! :) 

    0Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Mark Frattini:

    Hi @Kristina Dobyns welcome to Bigger Pockets! You found the right place to start off your real estate investing education. I'm here in San Diego. Let me know if there is anything I can do for you. Good luck!

    Mark-- thank you so much! I am not in San Diego at the moment but hopefully once Covid is over and I am back in SD, we can link! Which part of SD to you tend to be in? :)

    0Reply
  • Donald E Appleberry
    Real Estate Agent · San Diego, CA · Member since 2018 · 144 posts · 145 votes
    5y

    Hey Kristina!

    Sounds like you're doing it right! I just came back from Ensenada, Mexico (business trip) and I absolutely love it there. My wife has family in TJ and Durango so we frequent often. Actually working on buying a property down there as well! 

    Anyway, trying to build a location diverse portfolio is a pretty solid goal. Utilizing the BRRRR strategy for that is going to take ALOT of trust in your teams. People living a couple states away often have trouble with OOS (out of state) management and deal working due to this. I'm NOT saying that its a bad idea, but something to be aware of if these will be your first couple deals. Take the time to thoroughly vet EVERYONE involved on your team. Contractors, agents, lending, the works. Especially if you're going to be doing this outside of the country. Some lender's overlays might have some issues with that. **I'm not a lender so I'm just going to stay in my lane on that though. Hahha.

    I'd recommend solidifying what the goal or purpose of the investment is. Cashflow, long term appreciation - buy and hold, INFLATION hedge (My big one with current circumstances) and buy according to that purpose. Obviously these all can play off each other, but typically in different orders. So prioritizing them is the issue. 

    Overall I share a very similar goal. I did 2 OOS deals while in the military for the same reason, SD was to expensive for my blood. I wasn't an agent at the time and was diving in to get started. Shortly after I realized why so many big investors stay in markets like SD, Denver, and Washington DC. So now I'm about to close escrow on my first personal property in Imperial Beach. ($1M Triplex) - Inflation Hedge, long term appreciating asset, in a development zone, and high cashflow with Airbnb (1 month or longer). 

    Last thing! I'm curious on if you've considered or looked at purchasing in places outside of the US? I'd love to talk more about it! 

    1Reply
  • Twana RasoulBusiness Member
    Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
    5y

    @Kristina Dobyns Welcome! If you want to strive to have the least amount of funds in a multifamily deal it would be great if you can start off with a multifamily house hack, especially in CA whether in Bay Area or San Diego...to be able to purchase a $1M duplex with only $35k down is the best bang for your buck (assuming the property makes sense for you as a long term investment).  

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    1Reply
  • Mark Frattini
    Real Estate Agent · San Diego, CA · Member since 2014 · 338 posts · 176 votes
    5y
    @Kristina Dobyns

    Mark-- thank you so much! I am not in San Diego at the moment but hopefully once Covid is over and I am back in SD, we can link! Which part of SD to you tend to be in? :)

     My office is in Carmel Valley and I spend a lot of time in North County but I help people all over the county.

    1Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Donald E Appleberry:

    Hey Kristina!

    Sounds like you're doing it right! I just came back from Ensenada, Mexico (business trip) and I absolutely love it there. My wife has family in TJ and Durango so we frequent often. Actually working on buying a property down there as well! 

    Anyway, trying to build a location diverse portfolio is a pretty solid goal. Utilizing the BRRRR strategy for that is going to take ALOT of trust in your teams. People living a couple states away often have trouble with OOS (out of state) management and deal working due to this. I'm NOT saying that its a bad idea, but something to be aware of if these will be your first couple deals. Take the time to thoroughly vet EVERYONE involved on your team. Contractors, agents, lending, the works. Especially if you're going to be doing this outside of the country. Some lender's overlays might have some issues with that. **I'm not a lender so I'm just going to stay in my lane on that though. Hahha.

    I'd recommend solidifying what the goal or purpose of the investment is. Cashflow, long term appreciation - buy and hold, INFLATION hedge (My big one with current circumstances) and buy according to that purpose. Obviously these all can play off each other, but typically in different orders. So prioritizing them is the issue. 

    Overall I share a very similar goal. I did 2 OOS deals while in the military for the same reason, SD was to expensive for my blood. I wasn't an agent at the time and was diving in to get started. Shortly after I realized why so many big investors stay in markets like SD, Denver, and Washington DC. So now I'm about to close escrow on my first personal property in Imperial Beach. ($1M Triplex) - Inflation Hedge, long term appreciating asset, in a development zone, and high cashflow with Airbnb (1 month or longer). 

    Last thing! I'm curious on if you've considered or looked at purchasing in places outside of the US? I'd love to talk more about it! 

    Hi Donald! I love your reply.

    YES i am interested in outside the US, too. 

    I would love to talk about your response more, point by point, if you're open to it?? :) 

    1Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Twana Rasoul:

    @Kristina Dobyns Welcome! If you want to strive to have the least amount of funds in a multifamily deal it would be great if you can start off with a multifamily house hack, especially in CA whether in Bay Area or San Diego...to be able to purchase a $1M duplex with only $35k down is the best bang for your buck (assuming the property makes sense for you as a long term investment).  

    Thanks for the suggestion, Twana! I appreciate it :)

    Can we talk about it?  

    0Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Mark Frattini:
    @Kristina Dobyns

    Mark-- thank you so much! I am not in San Diego at the moment but hopefully once Covid is over and I am back in SD, we can link! Which part of SD to you tend to be in? :)

     My office is in Carmel Valley and I spend a lot of time in North County but I help people all over the county.

    Very cool! My sister lives in the Carmel Valley area, so I visit her there when I am in town.

    1Reply
  • Julian Jurkoic
    New to Real Estate · Boulder Colorado · Member since 2019 · 4 posts · 1 vote
    5y

    Hey Kristina!

    Welcome to the community! I'm a relatively new investor myself (just one househack so far) but I'm looking to do at least 2 more deals (at least 1 BRRR) in 2021!

    Anyways, I spent the last 4 years living in Boulder and just bought my first property in San Diego, so if you'd like to talk about either of those places, or need any sort of help feel free to reach out!

    1Reply
  • Ben McMahonPro Member
    Investor · San Diego CA · Member since 2014 · 341 posts · 139 votes
    5y

    @Kristina Dobyns

    BP is for sure the best resource out there in my opinion.  Basically has the answer to every question you could possibly ask.  I live in San Diego, but invested mostly in Virginia when I lived there. 

     OOS investing is a different beast.  I would recommend you at least fly to whatever location you pick and view the property in person, interview agents, Property Managers, home inspectors, contractors, etc.  I just think there is a lot that can be missed remotely, and pictures don't always tell the whole story.  Once you have a team in place than you can feel a lot more comfortable doing it all remotely.  

    Merry Christmas!

    0Reply
  • Ray Alsaigh
    Investor · San Diego, CA · Member since 2019 · 37 posts · 18 votes
    5y

    @Kristina Dobyns Welcome to BP!

    Since you already have some markets in mind that you want to invest in, I would start reaching out to Real Estate professionals who are local and start building some connections. Research the market to learn the ins and outs before investing in anything. 

    I'd definitely recommend listening to podcasts and being active on forums like this, it's a great way to learn and network with people in the industry. 

    Cheers!

    0Reply
  • Kristina Dobyns
    OP
    Member since 2020 · 24 posts · 6 votes
    5y
    Originally posted by @Julian Jurkoic:

    Hey Kristina!

    Welcome to the community! I'm a relatively new investor myself (just one househack so far) but I'm looking to do at least 2 more deals (at least 1 BRRR) in 2021!

    Anyways, I spent the last 4 years living in Boulder and just bought my first property in San Diego, so if you'd like to talk about either of those places, or need any sort of help feel free to reach out!

    Hi Julian! Where in SD did you buy your property? :) I'd love to chat sometime!

    0Reply
  • Julian Jurkoic
    New to Real Estate · Boulder Colorado · Member since 2019 · 4 posts · 1 vote
    5y

    Hey Kristina, sorry for the late response, I bought my property in Ocean Beach, feel free to message me on BP!

    0Reply
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