All Forum Posts by: Andrew Kelley
Andrew Kelley has started 1 posts and replied 8 times.
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Originally posted by @Mark Frattini:
How much are you getting in rents? Mission Valley should do very well over the long term.
Congrats!
Good morning Mark,
Thank you for your support, our comps are ranging from $2,750 on the low end (plus 50 dollar per rent) to $3,700 on the high end so we’re anticipating charging 2,800 monthly. Agreed about mission valley doing well over the long term the river revitalization projects as well as the new stadium development really excited us, of course you can’t anticipate appreciation but we think mission valley will be a desirable location for the foreseeable future for sure.
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Originally posted by @Anthony King:
@Andrew Kelley how did you put $4,000 down on a $405k home? Closing costs alone should be more than that.
Hi Anthony,
My lender covered closing costs after the initial 1% deposit ($4,050)
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Originally posted by @Lien Vuong:
Congrats on your success and keep going!
Thank you, Lien! Time for the next deal!
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Originally posted by @Benjamin Seibert:
Congrats on the deal @Andrew Kelley!
Thank you, Benjamin!
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Originally posted by @Bud Gaffney:
@Andrew Kelley big time. CONGRATS!
Thank you you for your support, @bud! Love to see you’re from Boston I have a lot of connections in the area as I’m originally from Massachusetts myself. Would love to connect if there is ever any value I could bring, either way hope the best for all your future endeavors! Go pats!
I'm still working on my forum post expertise so you'll see this exact message in the discussion without tagging you I figured I'd repost.
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Originally posted by @Sophia Grego:
Congrats! Which area did you buy the townhome in, if you don't mind me asking? I've been hardpressed to find anything like that in the area.
Thank you, Soph! We bought in Mission Valley directly on the San Diego River.
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Thank you you for your support, @bud! Love to see you’re from Boston I have a lot of connections in the area as I’m originally from Massachusetts myself. Would love to connect if there is ever any value I could bring, either way hope the best for all your future endeavors! Go pats!
Post: First Investment property in San Diego!
- Rental Property Investor
- San Diego, CA
- Posts 8
- Votes 2
Investment Info:
Townhouse buy & hold investment in San Diego.
Purchase price: $405,000
Cash invested: $4,000
2 bedroom 1.5 bath with $480 true cashflow (PITI, CapEx, Vacancy, Utilities, etc..)
What made you interested in investing in this type of deal?
Perfect stepping stone to kickstart my investing career! excited for the next deal.
How did you find this deal and how did you negotiate it?
Watching the MLS like a hawk.
How did you finance this deal?
Traditional financing/ VA home loan