Well, time to hit the pavement to research vacants, then, and, if not actually “lender shadow inventory,” contact the owners of record and make them an offer.
You don’t even need an agent for this and it is preferable to represent yourself in this situation. [/quote]
Yes, I’ve done that EXACT strategy in other cities. But that was when I had a lot more time and energy (and before I had kids).
I once approached every single owner in a residential condo before to buy their units. There were 28 units and I simply slipped a letter under each of their doors offering to buy their units. I ended up buying 7 out of the 28 units. But no one else wanted to sell.
So I have experience with that but I am not too motivated to own a lot of properties here. I don’t think San Diego is the market to do something like that. The yields are much better in other areas I’m sure.
Rental properties are a lot of work. People often underestimate the potential problems, hassles and expenses. I don’t strive to have a lot of rental properties in San Diego. We already own several rental properties and it can be a real hassle at times.
Once I’m older and fully retired, I won’t want a big yard. Big lot isn’t something that will be important to me once the kids leave the house. Yeah, it’s nice now for my little ones to play in the yard but I won’t care about that once I’m older and kids out of the nest.
