San Diego is known for its world-class beaches, popular attractions, and vibrant food scene. But you may not know that San Diego is also known in the investing world as a new hot spot for real estate investing, and savvy investors are starting to take note of the budding market.
Sawyer Winston, a San Diego based entrepreneur and real estate investor in his own right, is weighing in on the San Diego real estate game. I called up Winston to hear why he thinks San Diego is so popular among real estate investors, how the market is doing now, and where he thinks it’s going.
Sawyer, tell us a bit about how you got to where you are today.
I’ve always liked to take chances, and to create new things. From the time I was 17, I was working in some pretty big organizations in San Diego, and handling much more responsibility than some other peers my age.
I was flying around California for some of my jobs, and when I was in college, I created some of my biggest businesses. At this point, I’ve bought or managed around ten different businesses, spanning on several different countries.
What fields do you have experience in?
Some of my bigger projects have involved technical systems and coding, but I’m involved in a lot of entrepreneurial projects and different kinds of businesses. I also have experience in real estate.
I’m currently launching a pretty big project which I’m excited about, which is basically mixing my love for entrepreneurship with real estate. I’m focusing on one community, and my goal is to revitalize its economy using real estate investments.
Once this community reaches its goals, I plan to expand the project to more places.
What is the state of the San Diego real estate market?
San Diego has been popular for a while, of course, and we know that’s nothing new. But many people may not realize exactly how much of a hot spot San Diego is becoming, or exactly how competitive.
Since the pandemic began, San Diego home prices have been skyrocketing, and inventory has been very low. This definitely makes it more difficult if you’re looking to buy, especially on a budget.
What do investors need to know about San Diego?
Investing in San Diego can definitely be profitable, because there is such a demand for housing. The prices of homes have risen a lot, and all facts point to continued pricing increases. There is also something else to be aware of: the California rent control law.
This law went into effect just last year, limiting the amount you can increase rent, and includes a “just cause” for evictions.” So, it’s important to research the local laws and upcoming changes if you want to get into the San Diego market.
What are your predictions for San Diego as an investment location?
I think that the interest in San Diego isn’t going to slow down any time soon. And while housing stock is low and prices are rising, mortgages rates are also quite low at the moment.
This is definitely an appealing fact for investors looking to get some skin in the game with financing. But I think it’s important to note that San Diego is really a special place, with a thriving economy, and that it will definitely benefit most from investors who care about the community itself.