So why did I choose to invest in San Diego? For one, I was born and raised in San Diego and have no plans on leaving this beautiful city. This place will always be my hometown and this is where I want to raise my son and hopefully he will do the same when the time comes.
With prices in San Diego slowly rising its been a great time to invest in San Diego real estate but you have to know how and where to look. Inventory may be low on the multiple listing service (MLS) making it difficult for investors to find deals. Due to low inventory there is a ton of competition to find deals through the MLS. I’ve noticed the real estate flippers who are buying and selling through the MLS have built a strong team. Most of the time these guys can pay cash and have proven and have a reputation of closing the transaction. None the less there are still plenty of homeowners that need help which is one of the reasons why I started Lipumano Investments.
San Diego home prices vary dramatically by area and location. Zip codes I’ve been focusing on range from $250,000 to $750,000 fully renovated. My attention has been going toward the median priced homes. A neighborhood or street can increase tremendously so its always important to do your research. I suggest to always drive through the neighborhoods to get a feel for the different houses each street has to offer.
An important aspect I’ve learned when it comes to investing in real estate which I will discuss in a later post is to know the max you are willing to pay for a property. Understanding how to compile a list of comparable properties to base your numbers off of is extremely important because this will help determine what your end profit may be.
Real estate investors in San Diego are showing tremendous profit margins right now at the same time they’re raising property values in neighborhoods, solving sellers problems and creating jobs. My opinion is there will always be opportunities to make money in real estate it just takes a lot of hard work and massive action.
It took me a long time to understand this business. The time, money and energy I’ve put into it. The characteristics I’ve built, the risks taken and sacrifices I’ve had to make. I’ve never worked this hard towards anything before. I’m very lucky to have found my passion in life.
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