Hi everyone! I’m new to this page and have never invested in RE, but hoping to buy my first place when my 17 month lease is up, live in it for a year or 2 and then start renting it out. I’m hoping to learn as much as possible from this page :) Also I know this is a long shot but, if anyone wants to get into short term rentals in San Diego, let me know!

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Are you asking about San Diego short term rentals because you have experience with them?

The problem with a break even plan is that any unexpected expense (damages / losses are frequent with short term rentals) and/or increased vacancy and you’re bleeding money. And let’s not talk about a situation where a tenant decides not to move out and you’re stuck with an eviction… good luck getting that to happen quickly in California!

I’m trying to help you understand that it isn’t all rainbows and unicorns to buy a house and turn it into a short term rental right now. Some people were killing it over the last few years, but with increased saturation and increasing legislation, it’s very difficult if you’re just starting now (especially with 0 property, 0 furniture, and 0 plan of attack going into it).

You’re better off trying to find a long term rental in a lower cost of living city that has good landlord laws, decent cashflow, and decent rent growth to cut your teeth on. Find and buy 3 to 5 rentals in the same market, run them for a year or 2, then decide if you want to get into the highly competitive, highly legislated, high stakes game of short term rentals.

While*

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