San Diego Investing

Bird Dogs, Wholesaling
1

Does anyone have any opinions on this market for flips, rehabs, etc. Is this market still going bonkers with appreciation? Any opinions?

Nate-WI

2

It’s in California…'nuff said (watch Property Ladder, apparently any idiot can buy property in CA, refurb, and make $100K - no experience/brains necessary!)

Keith

3

No sorry that’s not enough said. Care to elaborate.

4

Watch the show…apparently, prices go up $50K while you’re at lunch…

5

Anyone else care to share an opinion on this market?

6

Based on most everything I have seen, the market seems to be flattening out quite a bit there. Here are a couple of sites. (not sure if that is against the rules or not)

http://www.socalcia.com/
http://www.websitetoolbox.com/tool/mb/sdcia

(Keep in mind, a lot of CA investors are investing out of state, which says a lot)

Happy Investing,

Ryan

7

Thanks Ryan. Here is a post I found this morning.

http://www.signonsandiego.com/news/business/20050914-9999-1n14housing.html

8

Here is what the investor that wants to JV with said about the S.D. market.

Hi Nate,

I have read this article already, but like anything else there were and are many articles like this one in circulation. In the the article it states:
" The slowdown is not uniform across the county. Encinitas, Tierrasanta and National City are among the areas that posted increases of more than 30 percent on single-family resale homes." I am a member of Sandicor which is were this article acquired most of it’s stats. So I have all of this information at my finger tips. The truth is the bubble was going to burst here in San Diego in 2001, because this trend started in late 1995. Had I listened to the ’ experts’ , I would not have bought any properties that year. Fortunately I did buy a 3/2 2265 sq. ft, for $365,000 , I sold this in 2004 for $725,000.

So buy and hold would still be my strategy to make money, because even if the market has slowed down the appreciation in dollars will still be greater than many other places across the nation. For example, on a home of $850,000 with an appreciation rate of 2.1% ( Using the rate in the article) we would split around $17,850 . Would it be worth it to make a $8,925 profit on one house in a year ? But if you bought five of those same houses at the same time in a year and sold them a year later you would make $44,625. This is better than doing nothing at all. It could also become a strong buyer’s market, then we could have our pickings with motivated sellers.

Most importantly there is no rush , and of course you have to make a educated decision for you and your family. I can only speak from my experiences. Take Care.

Glen