All Forum Posts by: Donald E Appleberry

Hey Brutha,

So it depends really on what your goals are. I live in east village now, I absolutely hate it. Hahha. I'm in Spire (the big red building) also referred to as the ketchup and mustard buildings in downtown. Thats not to say the rest of east village is bad. There are some great locations! I'd stay away from SE of East Village though. The homeless problem is major there. 

Little Italy is pretty desirable for STR, the issue there is finding a unit that will allow STR for less than 30 days. Some are even 3 month minimums. I just had a client look into it thoroughly and we ended up just going to Mission Beach. There are a few town home style properties (Built and coded as Detached homes) that you can get and Airbnb/VRBO. Thats a pretty safe bet I feel. LI is built up pretty well and already established, so I wouldn't expect any large spikes in appreciation due to future developments, but it's so established that it'll be very difficult for another area to build up and draw attention away from it. Personally, one of my favorite areas in downtown.

North Park is beautiful and a completely different vibe. You're close to downtown and all the action, but you feel tucked away from the noise. Dog parks and museums are close by and it has it's own little strip of bars and restaurants. There are big plans for around NP that I'd imagine will increase desirability for the area. I'm looking there now for a personal purchase as well. Good to note, the area has a lot of SFR's on lots that are zoned for 5-24 units. So expect more units to be put in the area. One of my developer friends is building about 50 units over there now. Still in the works, but I'm sure he's not the only one gearing up to take advantage of the zoning plans. If you're focused on a condo, then you'll have that to compete with.

All in all, if it is a condo you want - my vote is little Italy. Fewer units going in (there are still some more coming) but nothing compared to what NP and SP is going to go through. It might be tough to find the right one if a STR is what you're looking for, but it'll be consistent. Hope this helps man and feel free to reach out with any other questions!

Hey @John Devereaux

Sounds like your strategy and goals are laid out well! Having a set realistic plan is key. My entire business is focused around "VA Investing" and would be glad to chat further details. Also, I'm holding a REI meet up the 14th in Downtown at 6pm. Mainly other VA investors in the area but there is a mix of everyone. It's posted on BP. If you'd like feel free to come out! Networking is key here.

Since you're a first time homebuyer, I'd like to lay out the process of expenses to expect when purchasing with the VA loan. Even though it is $0 down, you will have some out of pocket initially. You'll likely have a 1% of purchase price EMD (Earnest money deposit) which serves as a good faith deposit. This can be all the way up to 3% but thats entirely up to you and the offer you want to send. You get this back at the close of escrow assuming you get closing costs covered. Closing costs vary and I can't precisely give you how much they are, but a current rough estimate on a 700k purchase would be about 2% or 12k-15k. Like is said this can vary - depending on location and timing of the purchase. There is a strategy where you can get this covered or factored it into the financing, however it's good to note that the market is very competitive right now and some agent's see this as an unattractive option on an offer for a seller. Personally, I think it's an old school VA loan misconception but it is what it is. The last thing to be aware of is a home inspection. It's a relatively minimal expense $400-600 depending on company and size of the home. None the less, something to be prepared for.

If you'd like feel free to give me a PM or call anytime and I'd be glad to go more in depth on the process as a whole. I'm stoked to see more people using the VA loan with a long term outlook. Keep at it and let me know if you need anything!

@David Pere Thanks for the shout out and see you at the meet up! 

Hey guys! Building HOA is complaining the meet ups are to fire! Hahha. Anyway, looks like I'm limited to 20 people roughly not including hosts/co-hosts. It is what it is, but the meets must go on!

My main concern for long term right now is the proposition to get rid of SFR zoning in suburbs in favor of low income housing units. I foresee higher property taxes and potentially a softening there? My counter point to myself would be if you have a SFR and it's replaced by different zoning I'd assume you'd be granfathered in with the option to develop, but maintaining a SFR could make it that much more desirable. I haven't found a lot on it yet regarding the details, but does anyone have additional info or insight on this?

@Dan Gustavson

Ill shoot you a zoom link!

Hey guys! Next meet up date is scheduled!

I'm a prior Reconnaissance Marine and moved into real estate full time after I got out. I'll be hosting with David Pere who's currently active duty and has built a solid military based investing community that cuts out the B.S. I wanted to bring that online community to in person meet ups and events so here we are!

Come have a couple drinks with other investors in the area. New and Experienced. We have a pretty diverse group in regards to investment strategy. There's always someone who knows something you don't, the key is to connect with them.

**Yes I'm an agent and No I will not be soliciting any services to you. Anyone at the event for soliciting or self promotion will be escorted out. When I first started I fell into a "Guru Trap" as I call them and spent way too much money for information and guidance that I think should be easily accessible to guys and gals just starting out. This is for helping people learn and grow without paying for a "behind the curtain" pitch.

Hope to see you guys there and I'll continue to update as San Diego updates procedure.

Hey man!

Love the thought process and mindset. Sounds like you're at the point where upgrading the portfolio is a good move! As David mentioned, we host a REI meet up tailored to other Military investors. Not a seminar or sales pitch - I want to over emphasize that. Would love to have you out or feel free to give me a call to talk about Souther California!

@Andrew Ellis 

Yeah man! This weekend (Oct 10th) at 6pm. Same location.

950 6th ave in downtown san diego. Investing meet up where we just talk about different aspects or strategy in current market standings as well as what's been working for people. Less of a presentation and more of a real estate hang out. No sales pitch. 

@Erich Brown

6pm man!