All Forum Posts by: Ben Payano

@Dan H. 100% right. I actually had it as a STR for a year (I moved to Europe last year) and everything was going great until my HOA found my ad online and sent me a notice to remove. They also threaten to give me a hefty fine if they ever see it back on Airbnb and VRBO.

Thanks for your perspective on home value appreciation. I have a voice in the back of my head telling me SELL YOU IDIOT, but like I said in my original post, I'm naturally an optimistic guy. Great point on the 8 years of negative cash flow and lost opportunities. You got me thinking on what can I do with potentially 77K.

@Nate Burgher That's an awesome question. No, I'm planning to embrace the grind and work like no one else to one day  be worth as much as no one else. $800 will hopeful be like buying a bottle of water one day.

I know man, STRs are a great solution to this problem but California in general is starting to be a hard place to live with taxes and limited options. I appreciate you response man, thanks.

@Joe Hines My plan is to come back and live in the Loft. That's a great example about your property situation in Florida. Eventually, I also get into that market because of the sunny weather (for the most part) and the Latin culture. Great advise man, thanks.

Hello,

I'm in a tough situation and need your suggestions: I purchased a property (Loft) in Downtown San Diego 2016 and recently got transferred overseas for work--I'm scheduled to return to San Diego in 2020. Since purchased, the property has appreciated $110K not taking account of the post purchase remodel of the kitchen and bathrooms. Considering how much I pay in mortgage, HOA, insurance, tax, and how much it may rent it for, I'm looking at an $800 negative cash flow per month (while rented). The property is beautiful and in a very desirable location--a block away from Petco Park and a few from the Convention Center. With rising interest rates, I'm not sure I'd get the same deal in the future.

STRs is not an options due to recently passed laws.

Can I afford the negative cash flow? Yes, but its still $800 a month.

I'm a very optimistic guy and I sometimes tend to focus on the upside on things such as the continual uptrend in home value and rent prices. Want to get your honest opinion and wisdom on this. I've read previous posts but they're not as unique as my case. Here is a link in case your interested in taking a look: LOFT

Does anyone know of the best advertising medium for a rental (LOFT) in downtown San Diego? My property is located in the heart of East Village and briefly had in on Airbnb but my HOA forced me to take it down. I'd prefer to rent in out fully furnished but will also consider unfurnished. Anyway, I wanted to reach the correct target market ($3200-3800) and would appreciate the guidance. Thanks in advance.