All Forum Posts by: Steve Meyers

 Sounds like you need a good insurance agent too, if you need one I can connect you with Kady on my team. 

We have no where near the enough supply at least here in San Diego for there to be a crash let alone a massive correction.  I submitted two offers for the same client last week and both places had 5+ offers on them.  The recent drop in rates has caused a lot of buyer activity recently and I think were going to be heading back to a 2021 at least here in San Diego if this continues with these rates in the mid 5s.  I can't speak on other markets but this is what I'm seeing here in San Diego.

@Ngozi Iwunze if you are looking to rent to long term tenants it makes more sense to invest in a multi-unit here in San Diego. Cash flow is already hard with a condo and then adding an HOA fee on top will cut your cash flow. Looking for a good multi-family in a desirable rental area (close to a university or hospital) is ideal this way you can maximize your cash flow. Renters are more considered with finding a good rental deal then they are the property type. Sure amenities like a pool and gym are nice in a complex but you're paying for it in your HOA fee. If you would like help or to discuss further shoot me a message.

@Anthony Salazar I would look for something else personally.  I have a friend who bought a property at the tax auction last March because the owner was back behind by 5 years of unpaid property taxes.  The owner put two tenants in the house and told them if they helped him fix up the property while renting from him and paid $10K towards the property taxes he would sell them the house, well that clearly didn't happen and now she has to evict these tenants that never had a lease and are technically squatters.  The eviction process is lengthy and the courts are backed up.  She's been dealing with this for close to a year.  Your money is better off investing in another deal then dealing with this headache.

@Jared Aquino I would highly recommend Billy Colestock with We Lease I'll DM you his contact info

@Cathy Fitzwilliam to Dan and Twana's point San Diego is a hard market to initially cash flow in. The higher interest rates make it that much harder. What some of my clients have done in the past is look for more creative rental avenues to be able to charge a premium on rent such as the traveling nursing niche like furnished finder. A lot were doing air bnb up until the new rules came in place for the city of San Diego but you can still find a property outside the city that you can potentially do STR with to cash flow. Putting a long term tenant in a property here that you are BRRRRing won't cash flow unless you plan on leaving a good amount in the deal to do so, but that defeats the purpose of the BRRRR. You'll definitely get the long term appreciation in the San Diego market since our supply levels remain low which helps to insulate our market here, but it will be hard to cash flow on immediately unless you use one of the above strategies I mentioned. Hope that helps

@Nate Sanow Nice, I've been looking into the Tulsa market myself!

@Lee Ripma Thanks for the insight, if you don't mind me asking what markets are you targetting for MF? 

Thanks @Andrew Postell I kinda figured that was the case.  I'm working with some wholesalers in certain areas to help find off market deals as well.

@Jaime Appel sorry to hear about your situation.  I recently did a condo flip in North Park and used the below guys for the job, feel free to contact them they did great work for me.  Not sure about their licenses though so please do your own due diligence there.  These 3 should be able to help you with all your projects listed.  If you send them pictures they should be able to provide you with a quote, best of luck!

Plumber - Paul - 760-580-1909
Tiler - Luis - 619-799-8171
Drywaller - Evaristo - 619-495-5095

@Drew Hoffos have you looked in Boxabl? Not sure of what the wait time is now, but this might be a more cost effective option then building one.

https://www.boxabl.com/