All Forum Posts by: Gustavo Munoz Castro

@Branton B. PM me and lets do a call sometime

Greetings BP folks! My wife and I will be moving to San Diego next month, we're expecting our first baby and want to be closer to our families for a bit during the first year (I'm originally from across the border in TJ and have "some" knowledge of SD). We own a couple rental properties in the Seattle area and would love to get a new property in the San Diego area while we're down there. Low and behold, the stories about San Diego being an expensive market are all true. We have access to an FHA loan for $440K and have about $100K available for downpayment and/or rehab. Our goals are to get a property where we can live and/or house hack, and once we move away at least break even as a rental. These are the options I see for us after doing some basic research:

1) Larger home with a granny flat. Putting the rents together would approximate breaking even or maybe just above. Something like this: https://www.redfin.com/CA/San-Diego/350-Las-Flores.... We did this with a home in Seattle and it ended up a great deal in a C neighborhood.

2) Two homes on one lot. Variation of the above, something like https://www.redfin.com/CA/National-City/National-C.... Less permitting issues and the like.

3) Off-market. Find off market SFR's or MFH's that need rehabbing and try to get those with hard money/private loans or maybe even 203k. I have experience in prospecting for sellers so this could be an option, not sure if we can get to my price point though.

Main issue I see are the neighborhoods. Trulia crime map says south National City is "safer" than North Park but I just remember folks saying to stay away from National City. Are there any "up and coming" neighborhoods I should be taking a look at? We're pretty adventurous (we house hacked our last home in Seattle in a C neighborhood and it now cash flows $800 per month).

What do you think of our plan? Crazy? Doable? If we're not planning on living there long term, is it ok to buy in a C neighborhood in San Diego?

@Michael Conway small world! Bothell has really grown with the expansion of the UW Campus and the new downtown, its really taking off. Thanks for the info and keep us updated on your awesome progress.

I own a rental in South Seattle and the area is ripe for new development, best of luck to you @Branton B.!

@Michael Conway That's awesome! Totally workable for that area, its where all the hip people are and the Airbnb market is smoking hot there too. $1400 a month for your own property is a smoking deal as well for that area. Did you find this one off the MLS?

If you're any good at cold calling, bring in folks or hire VA's and teach them how to do it, that way you start leveraging yourself by only talking to "warm leads" that cam from phone prospecting. This is 100% doable if you find the right folks, I do this for myself and other real estate agents. Go for it!

@Michael Conway I've stayed in North Park before, love the area and how its changed the past 5 years. Can you share some details about the deal (cost, projected financials, etc). I'm looking to invest in San Diego and would love the deets. Thanks in advance!

CA has a pretty strict no solicitation rule for unlicensed folks, better get her licensed or change your script to be more like a survey without crossing the line.

@Andrew Michael, thanks for sharing. Where do you get your numbers from? I have a team of cold callers and our biggest issue is getting more and more numbers each day. Thanks!

@Jim Stoffey, did you keep at it? Any results? I also do telephone prospecting.