I’m going to be an ass and tell you… in bold caps…
YOU ARE NOT IN A POSITION TO BUY.
Sorry, $110k sitting in the bank is NOTHING, especially if you are 30ish (give or take a few years).. If you run into something unforseen, you’re going to need that emergency cash. $110k isn’t going to go very far for you if you’re out an extended period of time in SoCal. You need to save up/invest-up wisely, build your net worth over the next few years…Because as you say, “you can’t afford to buy anything here.”
Why are you trying get around a system telling you that very message?..There’s a reason why banks are hesistent to lend to you right now, and there’s a reason if you get a personal loan is like 12%…They think you’re a risk. So they want to charge you a hell of lot to take on that risk. It ain’t worth it for you….
The thing about “totally stuck living in an apartment”, while I can sympathsize with that situation, it’s really not *that* bad…And reality is “buying a home” is a nice to have..
Rent, build your net worth right now…There’s nothing wrong with it. And frankly, it’s probably much better for financial health right now than anything else.
You’re not necessarily missing out screaming deals right now anyway.
It actually might work out better for you if you did wait a few years.
