All Forum Posts by: Mark Frattini

Due to the low inventory in San Diego, it may take some additional time for you to find the right property. Typically, it takes my clients anywhere from 30 to 90 days to find the right home and get an accepted offer. The percentage rules that were established previously are not applicable to the current market conditions. Especially in a competitive coastal market like San Diego, LA, SF etc.

Are you open to the idea of purchasing a single-family home and renting out the additional bedrooms, or are you only interested in a 2-4 unit building? For first-time buyers, the number calculations generally work out better with a single-family home purchase.

Have you looked into the areas around San Bernardino, Lancaster & Bakersfield? I used to live up in LA and would consider these areas if you are looking for opportunities outside of the city. It's important to think about why these other areas a the less expensive
options and the risk associated to buying in a secondary type market

My market is San Diego now and we share a lot of similarities with Los Angeles. Very competitive, low inventory, expensive etc. You might be able to get started with a smaller house or a condo as your first investment.

Hey @Drew Hoffos!

Start with ADU Geeks and Maxable. Both companies are local ADU experts and would be a great place to start. The county website also is a great resource and they now have ADU building plans available. I also have a comprehensive ADU guide that I can email you. Just message me your email address and I will send it over.

@David Yee

Flying out to see them is not completely necessary and I have bought several properties without seeing them in person. What I would recommend is that you leverage your local team. You should have a trusting relationship with your realtor who ideally has investment properties in the same area and they should be steering you clear of a poor purchasing decision based on area and condition. Have them do a Facetime or video walk-through at a minimum. Don't skip the professional inspection. The inspector doesn't care whether you purchase the home or not and will give you their honest report. Finally, develop a relationship with a property manager who can give their opinion on the homes you are considering.

Depending on the price point and size of the investment since this is your first I would still consider flying there.

Hello @Josh Mills, welcome to BP!

My office is just down the 5 from you in Carmel Valley. I'd happily meet up for coffee or hop on a call to talk real estate anytime!

@Manolo Tamayo Ramirez

Definitely take advantage of the VA loan, 0% down. If you need the names of a few local VA lenders shoot me a message.

Hi @Taylor Gardner, welcome to BP. One option I see working for your situation is to buy your primary residence which would only require 5% down. Rent out the extra bedroom to help pay down the mortgage while you continue to save for the next one. In a few years after you have another down payment saved buy another at 5% down and rent out the first. Rinse and repeat and in 5-10 years you will have a real estate portfolio worth several million. 

@Drew Hoffos

ADU Geeks or Maxable are both good places to start. I believe they handle everything from soup to nuts.