All Forum Posts by: Nick Foster

Kevin Fox , I would like to connect, I can't send a colleague request through the app (unless I am missing something). I agree that cap rate is a snap-shot and not great when diving into the details. The sellers presented NOI won't be your NOI. Your taxes will increase with the sale, most people will leverage (calculate mortgage payments, etc.). I own a condo I rent out full-time as a vacation rental in Carlsbad that does well. My attorney sold some houses in Temecula, after many years he was tired of a bad run of tenants in that market. I like Carlsbad, Poway, 3BD, good schools. Leveraging and cash flow away!

Michael Lazzizzera I would be interested in buying an easement underneath your billboard and the billboard itself. If you are interested in selling send me a PM.

1. Possibly. The property value is worth whatever a buyer is willing to pay for it. Some buyers won't mind the cell tower and will buy the property regardless of income, or not, from the cel tower. 2. The valuation of the easement separate from the fee-simple real estate is a bit high, however not impossible. It depends on the tower company managing the tower, tower tenant, rent escalator that comes with the lease, etc. The proposed deal structure (selling the lease separate than the fee simple) is often a smart strategy to be used by sellers when they know buyers won't pay what the secondary cell tower lease market will pay for the lease. Nick G. Foster

Sopheak Phuong , welcome to the community. I am an investor in Carlsbad. If you ever have any wholesale opportunities, I would be interested in taking a look. Feel free to PM me for e-mail.

Dan Heuschele , interesting. My 1 BR unit rents for approx $1,700/mo long term rental, but I'm pulling $3,000-4,500/mo renting it as AirBnB. With greater supply, PB is certainly a more competitive rental market than Carlsbad Village - still it is interesting to hear other people's stories. I'm bullish AirBnB/VRBO, it just depends on the location of the property.

David West , I own and operate a full-time AirBnB/VRBO 1 BR condo located in Carlsbad Village, one block from the beach. I picked it up in August last year, so my experience is 5 months, with over 25 guests. First, all you need is a cleaning lady, you don't need a management company, that's what the sites are for. Both sites allow you to include a cleaning fee in your rate so that is a pass-through. I would recommend you trip it "hands-on" and just find a cleaning lady who is reliable from your network. Second, the returns are great. You will make more money in short term rentals than you will with a tenant on a lease IF your unit is in a desirable short-term stay location. Third, do it. Nick

Hello,

I have been listing to BP Podcast's and casually reading the forum for awhile now, and I'm ready to dive in.

Last year I bought my first investment property, a condo located in Carlsbad Village that I am renting out full-time as a vacation rental. I knew the sellers so we did the deal off-market, I got a good price, and it cash flows. The investment is a long term buy-and-hold.

Since this is my first post, the forum said I can't post my buying criteria, so I will save that for another time. I am patient to find a good deal.

A little bit about myself, I have been in commercial real estate for about 12 years. I am interested in connecting with other investors in the rental space (residential and commercial).

Nick