[Coronita]

[quote=gzz]The 4k/mo MM house looks great, lots of things to give it a premium: cul de sac, views, hot tub, yard with plenty of brown grass, interior looks perfect.

The condo however seems tiny and bland for 2500.[/quote]

Who cares what it looks like as long as it rents out. It’s not like the owner is going to live there.

One step closer to financial independence is the only thing that should matter.

[Coronita]

Pretty soon generating $100k+/year in positive cash flow will be a walk in the park for most people. lol.

Who needs to work…lol…

[Coronita]

Or how about $2500/month for a 1/1 in Mira Mesa…lol…

https://sandiego.craigslist.org/csd/apa/d/san-diego-1bed-1bath-spacious-mira-mesa/7369088187.html

[Coronita]

Stealing this post from you, AN…

But I agree… $4000/month for a 1400sqft in Mira Mesa is insane..

https://www.zillow.com/homedetails/7368-New-Salem-St-San-Diego-CA-92126/2068740702_zpid/

[Coronita]

[quote=sdrealtor]Update time. Another strong week for MM.

New listings 8 –

New Pendings of 9 –

Thats -1 change

Closed sales at 9.

Price reductions at 0. There are some which should be reduced.

Current inventory at 20 with median price of $875K.

MM has become a very orderly market with a very consistent ebb and flow. I would say well over half the current inventory is on the market for 2 weeks plus getting stale sitting overpriced. There are buyers for anything reasonable priced appropriately

Drove through 3 Roots yesterday. Its gonna be a stunning transformation for the area IMO. Looking really impressive to my eyes[/quote]

the cool part about 3roots is its right at the corridor to this large industrial park of a lot of biotech and medical device companies. Some of them are doing really well especially those supporting covid related testing and research. A few colleagues started working at these companies recently and they are on a hiring binge. Also as good as mobile engineers these days.
Big growth area imho, especially as we see more older and ailing people.

[Coronita]

I tried to collect cars, but realized that my wallet and space is too limited. So I had to settle on collecting videos of Evelyn Lin….

[Coronita]

[quote=deadzone][quote=sdrealtor]
unfortunately your negative attitude prevented you from participating in this. you must be lots of fun at parties[/quote]

Actually my baseball card collection is up big time so unlike you I did participate in this. Too bad you missed out on the opportunity of a lifetime to get in on it too. Since you have friends in the industry you should have known it was going to explode.[/quote]

People tend to invest in things they know about and are comfortable with…but usually don’t throw shades on things they don’t know or don’t understand or don’t invest in. That’s sour grapes. I don’t think anyone here is throwing shades at baseball cards.

[Coronita]

[quote=plm]Putting in 6K starting at such a young age is going to be huge later in life, all tax free.[/quote]

yes. So starting at 15 and reaching 30, that should be roughly 1/2 million. Also, with no further contributions, by 60 that should be pretty big. As an added bonus, if contributions stop right before marriage, and provided no other money is comingled during marriage, that Roth IRA is clearly separate property, so in the unfortunate event of a marriage failure, thats still my kids separate property. IRAs also have some level of asset protection from creditors…

[Coronita]

[quote=plm]I wasn’t very serious about this. Problem is you can’t contribute more than you earned.[/quote]
yeas but you only need to earn $6000 to contribute 6000

my kid earns about $125 / week tutoring math to grade school kids, so that should work out.

[Coronita]

Forget what i asked. I think im making this more difficult then it is. My kid tutors other younger kids… Therefore she has earned income, and therefore she can open a Roth…

How to Fund Your Roth with Babysitting Money

[Coronita]

So there’s no way my kid is going to get financial aid.

Im just wondering if i need to setup a business entity in order to do this. I dont think so. But i wanted to check in case anyone is an accountant. Seems like i need to talk to a tax guy…

[Coronita]

[quote=plm]What a coincidence, I just realized this morning that when I quit my job (because they force you into the office and I don’t think it is safe because of Covid) then I will not be able to do the Roth IRA because you need earned income for that, not investment income. But if I create a company for my rental as you suggest, then it can pay me each year for taking care of the rental so I can continue contributing to a Roth IRA![/quote]

What im trying to avoid is creating a company to do this in my case. You cant give yourself a 1099 so you will need some entity to give you a 1099…

But i think im suppose to give anyone that does work for me a 1099, and so if my kid does really do bookkeeping for me, im suppose to give them a 1099. Just wondering if this is sufficient proof of earned income to allow a Roth IRA.

Paying my kid for $1000/years worth of work to unlock a $6000/year investment account that can grow tax free many years seems like a good tradeoff

[Coronita]

UCSD when I was looking to apply to college was easy to get in decades ago. That isn’t the case anymore. If you have a kid that got into UCSD recently and you live in San Diego. Congrats….That itself was a difficult task.

SDSU is not a joke anymore either. Lots of really good programs out there.

My prediction is Cal State San Marcos is going to get a lot better. My money is San Marcos RE is going to do really well.

I would love it if my kid would be able to get into UCSD.

[Coronita]

[quote=sdrealtor][quote=XBoxBoy][quote=deadzone]Long term, it will take strong growth in high paying industry to keep prices high here.[/quote]

Don’t count this possibility out. Suppose for a second that your are correct that work from home is a temporary thing. People who have moved here and then are told they have to report back to an office in LA or Silicon Valley. What do they do? You seem to assume they move back. I on the other hand assume they quit and start their own companies here in SD. Some of these companies will fail, but some will succeed. We could have the next Google, or Facebook, or Apple, here in SD. There is no reason those types of companies have to be in Silicon Valley.[/quote]

Exactly. Or two kids in a dorm at UCSD come up with the next tech unicorn. There are so many possible paths to this happening here. Not just one

And skateboarding is blowing up worldwide. The epicenter of talent and industry is right here in Encinitas. One more log on the fire[/quote]

Some of the people that relocate here clearly have plenty of fuck you money and never need to work again at a traditional “job”, especially from the bay area.

Irwin Jacobs started Linkabit and then Qualcomm here in San Diego because he liked San Diego. Talent pool came here.

I moved back from the bay area to here in the early 2000’s as burnt out techie that wanted to have a better QOL. The comp package earned there allowed me to purchase where I live here, and I’ve managed to find good opportunity here a numerous of times that wasn’t that far off in comps from up there. (Then again, I never asked very a ridiculous comp package up there to begin with).

San Diego has one big advantage that people haven’t thought about. It’s a 1.5 hour flight away to Silly Valley. There was a period of time I was working up there and flying down here over the weekend and flying back up on a Monday morning. I use to book 5 months worth of Southwest flights every week and if I cancelled my trip up there, I would just roll the credit into the next flight. Even if some sort of hybrid model does go into effect, it’s totally doable with a bay area company, because frankly many people have done this well before covid economy started (inclusive).

[Coronita]

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