All Forum Posts by: Anthony D'Angelo

Hi BiggerPockets Friends,

I'm a San Diego real estate agent and I manage around 60 or so doors. I lot of 2s, 4s, 6s, a few homes a 7 and a 10. I love real estate and I love when I pick up the rents each month, there are definitely pros and cons but definitely more pros. My questions goes out to successful multi-family investors or anyone who owns multi-family rentals. HOW? How do I get started buying my own properties? If I don't have the money saved up too bad? Should I invest in less desirable cities, states? Should I wait for the market downturn? I have a some money in the bank but my market in San Diego is very high, duplexes go for $300,000 a door sometimes and getting loans are not easy to come by. After a 20-25% down payment your cash flow doesn't even make sense after all the expenses. I always was taught to buy a place where you can kick the tires, but with the prices here in San Diego is it worth it? I would love to one day own 100s even 1000s of units, I would love to have my team of handymen, plumbers, electricians, etc. and I definitely don't mind working 7 days a week if I have to, but it seems with the market I'll never get started. I'll take any advice. I'm hungry. There is many articles on here but I'm tired of researching I want to take action.

Welcome @Aaron L.

I'm in the same boat as you and @Traver Freeman , stay at home Mom to a 1 1/2 year old, one income. Bigger Pockets is great place for advice and to learn. I'm in San Diego also it's a little tougher market over here since prices have sky rocketed and the banks require a large down payment unless you're doing FHA or all cash of course. I've been looking for awhile since I'm a Realtor and it's easier to access the MLS all the time, but it's tough to make money unless you know what you are doing, out of state investing is also another way to invest if you want passive income.

If you have questions on San Diego properties or want me to look up something for you on MLS let me know.

Take care and good luck!

Anthony

@Brandon Heath

It's nice that I have to ability to see the listings as they come in since I am a Realtor, but with the price point being so high it's still not easy trying to get great deals. I need to really comb through and find what makes sense. I'm also seeing that people are getting the better deals with all cash offers, which unless you have the money or access to cash it's tough to compete, but it's still possible.

Hopefully this helps, let me know if you have any questions.

Anthony

Welcome @Wayne Kilgore

BP is great, a lot of resources here. San Diego is a tough market, but it's possible to make money here if you are patient. I'm new on here too and I'm currently looking in San Diego now.

Good luck!

Anthony

Hey @Brandon Heath

I'm in the same boat as you, I want to invest in San Diego because it's what I know. I've found very few (if any) properties that make sense. I've spoke with some members on BP from San Diego and they've told that they've invested in other states to make cash flow but very little capital appreciation. In San Diego it's a different ballgame as you know, you buy a property for $300k in 5-10 years it could be worth $400k, in other states you buy a property for $100k and in 5-10 years it could be worth $110k. It's pretty much what you are looking for. If it's instant cash flow, then I would say San Diego is a hard place (and expensive place) to invest.

Good luck, I will keep checking back on this post and see some of the feedback from other BP members.

Anthony

It's possible if you get lucky, I have clients ask me that question all the time, here in San Diego, and it hard finding anything that makes sense (if you're talking about cash flow) I've been looking for myself also and was able to snag a 5-plex just as it hit the market, but haven't found anything as of lately. Good luck on your search! 

Yes, based off of the that. It looks like 30 days. I gave our tenants 60 days because I went off of

http://www.dca.ca.gov/publications/legal_guides/lt-2.shtml

Yes also for the 60 day notice to remove a tenant.

Anthony

I agree with @Tim G. 100%, you are not evicting them, you are cancelling a month to month contract. Evictions are usually for Non-Payment and under circumstatnces where you have to take them to court.

Here is the rules for increasing rents in California.

How much advance notice must the landlord give the tenant?

If you have a month-to-month (or shorter) periodic rental agreement, the landlord must give you at least 30 days' advance written notice of a rent increase.

• The landlord must give you at least 30 days' advance notice if the rent increase is 10 percent (or less) of the rent charged at any time during the 12 months before the rent increase takes effect.
• The landlord must give you at least 60 days' advance notice if the rent increase is greater than 10 percent of the rent charged at any time during the 12 months before the rent increase takes effect.

Hope this helps.

Anthony

Hi @Mathew Deines

Congraulations of the purchase of your 4-plex. We just closed on a 5-plex in San Diego in Feb, remodeled the whole outside area increased the rent $550/mo total. You need to give the tenants a Sixty-Day Notice of Change of Monthly Rent and a Sixty-Day Notice of Termination for the tenant you want to evict. You could do it your self, I believe the forms you could find online so you can save money if you don't want to go to a property management company or lawyer. Same thing for the lease agreement, you could get it online or sometimes at an office supply store.

Hope this info helps. Let me know if you have any other questions.

Anthony

Welcome to BP @Daniel Peimbert

I'm also new to Bigger Pockets and real estate investing and want to hit it big here in San Diego. A lot of info on this site, it could get overwhelming.  I got my real estate license in September of last year, so I am also a new Realtor. Good luck on your test, it's not that bad, I recommend doing the practice test over and over until you average around 85-90% before taking the state exam. Take care.

Anthony