Live-In Flips in the SD Area

[Vincent A. Cipollone]

Bottom Line Upfront: What's a good neighborhood in San Diego that would be a good candidate for a live-in flip/rental that you would feel comfortable living in with your spouse and mother for three years while you deploy for nine months at a time?

More Details:
I am military and looking to transfer to sea duty in San Diego around this time next year (July 2021). It is not set in stone but I figured it was a good time to explore my options in terms of where to live. Since I will only be there for 2.5-3 years, I don't think it makes sense to buy a place that would be considered a "forever home" that wouldn't rent for what the mortgage payment would be (I intend on using VA benefits).

I'm looking for a neighborhood that is safe (for my spouse and mother while I am gone), has an acceptable commute to NAS North Island, and would fit the requirements of a flip OR long-term BRRRR-style rental. My goal is to sell the home for a profit OR rent out the home in 2023/2024 when I leave San Diego for my next assignment. I am trying to avoid purchasing a turn-key property that I would take a loss on or would not cash flow once I move on from SD.

I am very early in my search for a property so real estate agents, feel free to reach out with the understanding that me going to SD may not materialize due to needs of the Navy.

[Daniel Frye]

I would look at Imperial Beach, Chula Vista, East San Diego markets (city heights, lemon grove, la mesa, etc.)

Look through those areas and those around them, see what the price points are for listed properties to get a feel. Then when you decide on a few areas you'd like to look at further, find the most active real estate agents in those areas. Reach out to them and explain exactly what you are looking for, the more details you give them the more they can help. I would also suggest speaking to a lender now, even though you are a ways away from coming out here if at all. If you can get financing in line, or at least be given some guidlines from your lender as far as how much debt you are eligible for, that will help the agents in finding something suitable for you. With small deals like this, financing plays a huge role. If its not enough leverage, you might not be able to make the down payment, if its too much leverage, 1 vacancy might cause you to have to dip into your regular income to service the debt.