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Charles Cho's profile image
Charles Cho's profile image
Charles Cho
  • from La Jolla, CA
  • Member since Apr 30, 2015

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Charles Cho's profile image
Charles Cho's profile image
Charles Cho
  • from La Jolla, CA
  • Member since Apr 30, 2015
Charles Cho
  • La Jolla, CA
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Starting Out

Starting in San Diego, feasible or crazy?

Charles Cho
  • La Jolla, CA
Posted

Ideally I would love to get a fixer-upper duplex that I would be able to live in rent free while still keeping a full time job.  Are there any properties that are under 400K and that follow the 2% rule?   

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Amit M.'s profile image
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Amit M.
  • Rental Property Investor
  • from San Francisco, CA
  • Member since Sep 2, 2013

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Amit M.'s profile image
Amit M.'s profile image
Amit M.
  • Rental Property Investor
  • from San Francisco, CA
  • Member since Sep 2, 2013
Amit M.
  • Rental Property Investor
  • San Francisco, CA
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Amit M.
  • Rental Property Investor
  • San Francisco, CA
Replied

1- your in initial idea with the duplex in San Diego is a good one. You may not be able to live rent free, but you will be able to live there for: less than a SFH and less then the unit would rent out for. So it's a great way to start out in REI.

2- the 2% rule is stupid, especially in Cali, it makes no sense and is deceptive. Have fun reading this about it here!

http://www.biggerpockets.com/forums/311/topics/193...

And if you have more time on your hands, this is an educational thread on cash flow vs appreciation:

http://www.biggerpockets.com/forums/432/topics/146...

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