All Forum Posts by: David Minaya

Quote from @Corby Goade:

That's a long time, but what's the average DOM for similar properties in your market? How often does the agent update you? Are they coaching you on improvements or pricing adjustments that could be made?

This is always tough because your agent MIGHT be terrible, but if a property is on the MLS and it's priced appropriately, you will get offers. That being said, it's very common for listing agents to not respond to emails, texts and phone calls from buyer's agents with interested buyers- you'd never know if they are doing this or not, but I'll tell you it happens all of the time.

General rule of thumb- showings without offers, you're about 5% too high. No showings, you are at least 10% overpriced. 

 According to realtor.com the average days on market is 46 days for similar properties in the area. But to answer your other questions, no, my realtor has not been providing any coaching and as of today the last update I received had to be about 2-3 weeks ago. I believe our home is appropriately priced. The avg listing price for other condos in the area, with ocean front views is around $1.2m and I am listed at $999K. We decided to price it lower since my condo does not have an ocean front view because it sits on the backside of the condominium it occupies.  

Quote from @Russell Brazil:

Not sure what the condo market is like there.....but in DC I csnt give away a condo for free right now. It's a great opportunity to buy them because you can get a smoking deal....but trying to sell them is incredibly hard right now.

 So, my condo is in a prime location just a few blocks from the beach. Most of the properties along the ocean front are also condos. The only downside to my condo is that it is situated on the backside of the condominium it occupies and does not have an ocean view, however being aware of that I have dropped the price on significantly on the property. 

Good day BP!

My condo has been on the market for 127 days in the 92054 area code. Since that time several other condos have sold. Inventory is not moving as fast as I had expected but I’m also weary of my own impatience since I’m motivated to sell.

Since being on the market my agent has not been as responsive as I had hoped. Also since being on the market my agent quit working for the brokerage they were working for without leaving a good passdown to the agent that replaced them. I can’t help but think they were not prioritizing selling my condo and that has caused me to lose some trust in the agency that is selling my condo. Here again I’m weary of my own impatience.

I’m seriously considering hiring a different agent and would appreciate your opinions/personal experience on whether I should be looking for another agent or be patient. Also if I do end up hiring another agent, what should I be looking for in a good agent.

Thank you in advance! 🙏🏾

Good day BP and Happy Father's Day to all the Dads!

I'm currently in the process of selling my first property. It is a 1500 sqft 3 bed 3 bath condo about a 5-minute walk to the beach. I live in Southern California and my property is currently listed at $1.05m. It has been on the market for about 45 days and has received modest interest from buyers.  The property is part of a large condominium and is located on the backside of the building (i.e., it does not have an ocean view). My agent informed me that comps in the area are selling between $840K-985K, however those properties are not as near to the beach as mine. I should also mention that properties with an ocean view in my condominium have sold between $1.2m-1.3m but also have less square footage and less bedrooms and bathrooms. It was with that consideration that I listed the property at $1.05.  

Considering the circumstances, I would really appreciate your opinions on whether I am being greedy with the listing price or whether I should be patient, keep the selling price as it is, and wait for a serious buyer. 

Last year I took the leap and purchased my first house hack property. But I’ve been wanting to start creating a business where I can purchase more properties and create affordable housing for my community while at the same time achieving financial freedom. However I don’t know where I should start. I know this is a very broad/vague question but I would love to hear all your inputs.

Thanks in advance!

There's always the option to househack which I am currently doing in SoCal on a 3bd 3br condo by the beach. I only pay $1000 "rent" on a $3900 mortgage and my savings have increased dramatically in contrast to the $2500 rent I was paying previously. That way you can stay in the bay area, save quicker, and potentially be able to invest OOS sooner that the 2-3 years you estimated. I think it all depends on how much you're willing to sacrifice and how much you enjoy living in the bay area. 
Hope that helps and good luck!

I haven’t used her but @Katie L. has provided tons on insight on here and is also local to the San Diego area. Her credentials are on her bio. Hope that helps. 

@Dabvis Le Sutton have you considered seller financing? 

@Donald E Appleberry Great! Is there a specific time?

Hey Daniel I’m a veteran out here in Oceanside, where I recently just purchased a 3bd 3br condo on the beach and would love to network. I’m also looking for deals and am working with a friend who also happens to be a realtor/investor. 

Also @David Pere where is this meetup?