All Forum Posts by: Brian Ramos

@Brian Ramos welcome back to SD. If you want to get started with investment 3-4 units then minimum down payment option is 25% down. If you are owner occupying with a 30 year fixed loan, minimum down for a 3 or 4 unit is 20% for conventional loan, $0 down using VA loan and FHA loan is not possible due to "self sufficiency" rule.

You may want to consider utilizing a low down payment option as well to owner occupy something even if you end up purchasing a separate 3-4 unit multifamily property.

Twana, I have access to a section 184 loan. Its a HUD loan so similar to a 0% down VA loan that is government backed. Not a lot of folks have heard about them but its a great financing option if you qualify. In todays climate it might scare folks just due to the unfamiliarity of it, but have used in the Phoenix area with great results.

Here are the limits for San DIego County by Unit type:
STATE COUNTY NAME 1 - UNIT 2 - UNIT 3 - UNIT 4 - UNITCA SAN DIEGO

$ 701,500 $ 897,920 $ 1,087,325 $ 1,346,880

1 Vote

San Diego, California

Originally posted by @Mark Frattini:

@Brian Ramos

If you are well capitalized and want to cash-flow on a non-owner occupied multifamily from day you will need a substantial down payment. Any property in any market will cash flow if you throw enough money at it. Have you considered looking for a home with a JADU/ADU? This would give you the benefit of a low down payment with good terms while receiving monthly income from the second unit. You might be able to find an off market property that needs a total rehab, cash only, and will not qualify for financing. Even in today's highly competitive market there are always opportunities. Just depends on what your investing goals are.

Are you guys renting now?

We are lucky enough to not have to rush due to family in SD so rent is no issue. Not totally set on where I want to invest but seeing as this would be my first attempt at owning/managing a rental property I would prefer it be local, but willing to venture out a 1-2 hours if need be.

1 Vote

San Diego, California

Hello BP. Me and my wife are San Diego natives and just moved back from AZ where we lived for about 10 years. We are debt free with some capitol and excited to start some real estate investing at this stage of our lives. I am strongly considering multi family as our first route to get started on this crazy journey. Any tips or tricks to breaking into the competitive San Diego market? Some light research and reading through some blog posts on BP I can already tell this no easy in todays climate. Looks like most recommend going the house hacking route, but for my situation I would preferably like to start with a 3-4 unit property without owner occupying that can cash flow from the start. Not afraid of units that need work or rehab. Thanks for your time and any suggestions.

3 Votes

San Diego, California

All Forum Posts by: Brian Ramos

Brian Ramos has started 1 posts and replied 3 times.

Post: Multi Family investing in SD

Post: Multi Family investing in SD

Post: Multi Family investing in SD