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bearishgurl
Participant[quote=Kingside]My Encinitas investments were as a result of being a moveup buyer who did not sell my old properties. I still think this is a great way to go for first time investors in general.
My Escondido investments are a long complicated story which do not pertain to the average investor. I did pick up a triplex in Escondido earlier this year for under $200K. I tend not to look at triplexes priced in the 4’s, but that is just me.
For Encinitas, I manage them myself. For Escondido, I have a manager. What gives me peace of mind is buying at the right price from a cash flow perspective, not the location.[/quote]
Very sound advice, Kingside. You were very fortunate to recently pick up that triplex for <$200K. I am situated in an urban "sea of WWII boxes and mid-century ranches" owned by the "mostly-over-65 set" here in South County. Many of these owners are original owners who also own nearby sfr’s, sm apt complexes, parking lots and comm’l bldgs (acquired/purchased long ago). Yes, most of these properties ARE “walking distance” from their residences. However, some of these owners are VERY old now so can no longer manage their own properties. In some cases, their children are managing them. The ones that I have spoken to extensively have stated to me that they would only invest in areas they know very well and that is their local area.
Of course these properties cash flow for them because they are either paid-off or have a very low encumbrance against them. I have no doubt that even 40 years ago, they cash-flowed. Having a mo PITI of $138 or $168 and a mo rental income of $225 to $250 is cash flow. It’s all relative.
It is difficult to find this kind of deal today.
Participant[quote=Kingside]My Encinitas investments were as a result of being a moveup buyer who did not sell my old properties. I still think this is a great way to go for first time investors in general.
My Escondido investments are a long complicated story which do not pertain to the average investor. I did pick up a triplex in Escondido earlier this year for under $200K. I tend not to look at triplexes priced in the 4’s, but that is just me.
For Encinitas, I manage them myself. For Escondido, I have a manager. What gives me peace of mind is buying at the right price from a cash flow perspective, not the location.[/quote]
Very sound advice, Kingside. You were very fortunate to recently pick up that triplex for <$200K. I am situated in an urban "sea of WWII boxes and mid-century ranches" owned by the "mostly-over-65 set" here in South County. Many of these owners are original owners who also own nearby sfr’s, sm apt complexes, parking lots and comm’l bldgs (acquired/purchased long ago). Yes, most of these properties ARE “walking distance” from their residences. However, some of these owners are VERY old now so can no longer manage their own properties. In some cases, their children are managing them. The ones that I have spoken to extensively have stated to me that they would only invest in areas they know very well and that is their local area.
Of course these properties cash flow for them because they are either paid-off or have a very low encumbrance against them. I have no doubt that even 40 years ago, they cash-flowed. Having a mo PITI of $138 or $168 and a mo rental income of $225 to $250 is cash flow. It’s all relative.
It is difficult to find this kind of deal today.
Participant[quote=pabloesqobar][quote=mike92104]I have to recommend this book to everyone:
Afoot and Afield in San Diego. It gas a ton of info on nearly all the trails in San Diego County.[/quote]
Awesome book. On an extremely sad note, Jerry Schad has final stage kidney cancer and probably won’t be around much longer.
I don’t have his book but have looked thru it a couple of times at friend’s houses. As a former longtime runner in 92101 and 92103, I just think it’s a wonderful resource for the residents of SD County.
I saw the video, pablo. Thanks for posting it. Schad has a great outlook on life. I lost a dear relative from the same type of cancer. They lived 4.5 months after diagnosis.
Participant[quote=pabloesqobar][quote=mike92104]I have to recommend this book to everyone:
Afoot and Afield in San Diego. It gas a ton of info on nearly all the trails in San Diego County.[/quote]
Awesome book. On an extremely sad note, Jerry Schad has final stage kidney cancer and probably won’t be around much longer.
I don’t have his book but have looked thru it a couple of times at friend’s houses. As a former longtime runner in 92101 and 92103, I just think it’s a wonderful resource for the residents of SD County.
I saw the video, pablo. Thanks for posting it. Schad has a great outlook on life. I lost a dear relative from the same type of cancer. They lived 4.5 months after diagnosis.
Participant[quote=pabloesqobar][quote=mike92104]I have to recommend this book to everyone:
Afoot and Afield in San Diego. It gas a ton of info on nearly all the trails in San Diego County.[/quote]
Awesome book. On an extremely sad note, Jerry Schad has final stage kidney cancer and probably won’t be around much longer.
I don’t have his book but have looked thru it a couple of times at friend’s houses. As a former longtime runner in 92101 and 92103, I just think it’s a wonderful resource for the residents of SD County.
I saw the video, pablo. Thanks for posting it. Schad has a great outlook on life. I lost a dear relative from the same type of cancer. They lived 4.5 months after diagnosis.
Participant[quote=pabloesqobar][quote=mike92104]I have to recommend this book to everyone:
Afoot and Afield in San Diego. It gas a ton of info on nearly all the trails in San Diego County.[/quote]
Awesome book. On an extremely sad note, Jerry Schad has final stage kidney cancer and probably won’t be around much longer.
I don’t have his book but have looked thru it a couple of times at friend’s houses. As a former longtime runner in 92101 and 92103, I just think it’s a wonderful resource for the residents of SD County.
I saw the video, pablo. Thanks for posting it. Schad has a great outlook on life. I lost a dear relative from the same type of cancer. They lived 4.5 months after diagnosis.
Participant[quote=pabloesqobar][quote=mike92104]I have to recommend this book to everyone:
Afoot and Afield in San Diego. It gas a ton of info on nearly all the trails in San Diego County.[/quote]
Awesome book. On an extremely sad note, Jerry Schad has final stage kidney cancer and probably won’t be around much longer.
I don’t have his book but have looked thru it a couple of times at friend’s houses. As a former longtime runner in 92101 and 92103, I just think it’s a wonderful resource for the residents of SD County.
I saw the video, pablo. Thanks for posting it. Schad has a great outlook on life. I lost a dear relative from the same type of cancer. They lived 4.5 months after diagnosis.
Participant[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]
Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.
Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.
Participant[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]
Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.
Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.
Participant[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]
Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.
Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.
Participant[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]
Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.
Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.
Participant[quote=ljinvestor]Since this is your first one I would recommend purchasing closer to home. Also, be patient and wait for a great deal. Don’t go in thinking that the place is you buy is going to go down the next few years. Find a deal that is 20% lower than comps now so you have some safety net.[/quote]
Good advice, ljinvestor. I kind of like the idea of having rental properties within five minutes of where one lives … even walking distance.
Patience, negotiation and fix-up know-how will get you a good rental investment in today’s market.
Participant[quote=sdrealtor]Is National City the new Santee? I heard it was 10 minutes from La Jolla also.[/quote]
No, I would say it is 15-18 mins to the LJ Pkwy exit off I-5 (not during the morning rush hour).
Santee is now about 10-12 mins from that same exit on that *new* lunarscaped “SR-52” but not during the morning rush hour.
NC is only about 14 miles and Santee is at least 18 miles from said exit but there are less folks all over the place trying to navigate the exits on the “lunar hwy” :=]
Participant[quote=sdrealtor]Is National City the new Santee? I heard it was 10 minutes from La Jolla also.[/quote]
No, I would say it is 15-18 mins to the LJ Pkwy exit off I-5 (not during the morning rush hour).
Santee is now about 10-12 mins from that same exit on that *new* lunarscaped “SR-52” but not during the morning rush hour.
NC is only about 14 miles and Santee is at least 18 miles from said exit but there are less folks all over the place trying to navigate the exits on the “lunar hwy” :=]
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