All Forum Posts by: Nick Foster

There is no right or wrong answer. It simply depends on your tolerance for risk. The stock market will have swings and thereby more risk, whereas your Barclay account has zero risk and a fixed yield. Follow your own tolerance for risk, not others.

First, research with the City and County to see if you can build a billboard. Many cities and counties of the US have put moratoriums on building new billboards. Second, I would reach out to CBS Outdoors, Clear Channel, and ask them what their management contracts are for land owners. These companies do billboards for a living and will likely share information with you, as they will want to pitch you on managing your billboard.

@Cristina Ruffini I would keep the condo and rent it out. Cash flow and enjoy the appreciation. 

Personally, I would not sell the condo and 1031 the money out of state to Ohio. Cash flow may be better with opportunities in Ohio, however, you are losing out on San Diego's phenomenal appreciation and you would have to hire out of state management, whereas, you can check-in on your investment now with a short drive.  

Hi Anthony,

I too am located in Carlsbad. I used David Hickson of Goodwin Brown in UTC earlier this year for estate planning. I was happy with his services and I would recommend him to others. BP won't let me post his phone number or e-mail, so shoot me a DM or run a google on his name.

Also, if you are building your investor list for wholesailing, feel free to add me on there. Please send me a DM and I will send you my e-mail.

Nick

Samuel Rogers , since this is your first deal I would recommend investing in SD, not out of market. You will run into problems on a rental and being able to drive to it to fix it will save you money and help you sleep at night. Investing out of SD IMO, given our scenario, sounds like a lot of headache. With your cash on hand you could buy a SFH in Poway for around $500K and rent out to a family.

Logan Turner , sure. I purchased a 1BR condo last year in SD a block from the beach. I'm renting it out full time on AirBnB and VRBO. It is leveraged and is netting approx $1K/mo (even during off-season). Being one-block from the beach appreciation is given. Most likely a buy and hold forever and pass down to my kids. I'm in the market to buy anther condo to turn into a vacation rental, or I'm looking at picking up a 3BR in Poway to rent out. Although, I think the numbers look better on vacation rentals, it is just difficult to find opportunities as the supply of properties is limited due to proximity to beach and permitting with the cities.

Originally posted by @Vitaliy Merkulov:

I listened to Thursday's BP podcast #238 where guest Michael Swan talked about selling his condo in San Diego and buying a multi-family cash-flow property. 

I own a house in Sacramento, CA where I live, I bough it for $225k 4 years ago, now my realtor says he can sell it for $325k in one week. 

What if I sell my house, get ~100k and use it as a down payment for a multi-family cash-flowing property out of state. 

Any thoughts, where should I start? Any gotchas should I watch out for?

I also listened to this podcast, however, I was not impressed. Selling your primary residence as an investment strategy comes with risk, uncertainty - is it worth it? I live and invest in SD, take what Mr. Swan stated on the podcast with a grain of salt. 

@CJ B. I agree with @LaDonna Smith  - red flags, peace out. 

@Samuel Lynch there are buy and hold opportunities in SD, ignore the bears above. Coastal you have a lack of supply of land for new housing development and county wide housing vacancy is under 5%. IMO housing appreciation and rent increases will continue for years to come. 

I have explored investing in Palm Desert, Phoenix, Las Vegas, etc. - but I see way more risk out of the SD market, then within our market which has strong fundamentals for buy and hold investors. 

My two cents - don't try and time the market. Right now the fundamentals to invest are sound. We are one of the most expensive markets in the US but for good reason (weather, lifestyle, food, economy, etc.). 

Kevin Fox one-block from the beach in Carlsbad Village. Right off 101 and Carlsbad Village Drive. Location is excellent, it's fully booked during summer and does well all year around. I would love to find another place to rent out as a vacation rental over a annual tenant. It is tough to find with restrict CCRs and location. It's a buy, hold, retire property. That's my strategy, I'm not interested in flips, just holds.