All Forum Posts by: Parker Cox

Well I am happy to connect you with people-- when do you get back?

@Jina Lee There are a lot of ways to become more connected/dialed in to the investment community of San Diego Co. There are 3 main monthly REI groups-- NSDREI in Oceanside, FIBI in Del Mar and SDCIA at the Scottish Rite Center in Mission Valley.

Myself and a few others also host a free monthly event on the last Saturday of the month that is meant to give a networking and education opportunity at a current, active investment project--in fact @Sarah D. was our most recent host at her property in PB.  

The next one is a vacant lot new construction of 3 homes and will be October 29th from 9am to 10am in National City (apologies, the exact address is escaping me) but you can track the project at Grove View Homes.  

I wish you the best of luck and if there is anything I can do to help your progress, let me know.

@Tyler Stamets  There are tons of contacts in that area.  Are you talking flipping or B&H?  and I can help put you in contact.

@David To  I would highly suggest talking to @Kevin Fox.  He works with many investors in that area building investment portfolios.  

I have to say that those numbers seem a bit hard to hit if you ask me, but if anyone can help you he can.

@Peter Perreault  Though I agree with the previous comments regarding negative cashflow, I think the situation is different if you are living in the property.  Paying cheap rent/mortgage to live in San Diego while having renters pay 80-90% of your mortgage is a great start for growing your portfolio in my opinion.

@Antonio Gonzales @Connor Martin @Carlos Altamirano @Damien Dear @Dan H.@Richard Bastar @Account Closed

You guys should continue this awesome back-and-forth at this weekends event in San Diego.  The property is a flip to duplex and will have a lot of these factors addressed.  

Antonio Gonzalez put up the property as a host 2 months ago in fact.  

Free San Diego Onsite Monthly Meetup

@Kevin Fox @Justin R.@Tim G. and I are really looking forward to this months event.  

MARK YOUR CALENDARS

Sorry for the short notice on promotion.  But this one is going to be awesome--its a single family addition and garage to granny flat conversion in the City Heights neighborhood of San Diego.  

The investor is Dinero Homes who seems to be making a habit of churning out huge projects that are true value adds and urban residential redevelopment.  

This project is going to add a ton of insight into renovation as well as tackling difficult acquisitions and pricing for small multi-family in a hot market.  Come and check it out!!!

What you will learn--

• Acquisition process on a hot property with multiple offers
• How to handle zoning and permitting 
• Planning and execution on a huge project 
• How to pick best and highest use of a property

Value--

• Fantastic networking for both seasoned pros and the spring chickens
• Onsite analysis and in depth details from the investor 

Quick Stats--

• City Heights SFR addition and garage conversion to second unit
• Purchase $258,000
• Rehab Budget $160,000
• ARV $580,000 - $600,000

--Keep in Mind--

As always, there will be no pitching and no cost.  We have succeeded at creating a monthly event platform that educates, adds value and gives everyone a leg up in the business.  Its the events we as hosts all wish we had had when we were greener (that's why we created it).  

Contact any of us listed above over any questions or comments/reply in the thread below!!--

See you at 9am Saturday!!!

RSVP here for the event

Looking forward to it!!!!

@Will F. Unfortunately there is no straight answer for cost/employee/yr with your situation.

The two defining rating factors are type of work being done and payroll--the more work they are doing and the more dangerous the work the more expensive the coverage. 

For example, a roofer is more expensive to cover than someone who does flooring because roofing is more dangerous.  

Worker's Comp then also audits (gets payroll reports once or twice/year) what you pay them to get an adequate idea of how much of this work they are doing--the more they work, the more likely an injury.

Ultimately, based on your brief description, this is likely an exposure for you and your business--and worker's comp cases are notorious for "ambulance chasers" who see $$$ settlements with successful property owner vs. blue collar workers.

Then again, depending on quantity of work, and quality of workers, tons of landlords in your situation feel comfortable taking the risk.

Happy to discuss further if you are interested, feel free to PM me.

@Jason Bott thank you for the connection and always adding value for users on here.

Hi Jen,

Is there a reason you have to buy in Oakland, couldn't you go further east bay to find something more favorable from an investment point of view?

Hayward, Richmond or Newark would certainly give you better cashflow and pricing no?

@Brandon Monaghan I think in San Diego co you are going to find that this dream may not be what you expect.  A lot of the size you're talking about is likely going to price you out of the small house idea.

That being said, You could look in Fallbrook, Oceanside or Rainbow--they are far more rural and in he very northern part of the county but you can still get 20 minute drives to the beach with views.

The rental market up there is not anywhere near as active, but it might offer the space and proximity to the ocean you are looking for.