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August 25, 2016 at 11:02 AM in reply to: OT: Does anyone use a UPS for their computer/electronic gear? If so which one. #800864August 25, 2016 at 9:27 AM in reply to: OT: Chinese Airline Companies offering $300k+ for pilots…. #800862
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Participant[quote=Rich Toscano][quote=mixxalot]H1b and outsourcing of STEM engineering jobs to India and China has severely impacted American engineers! That is fact which you cannot deny. In USA and Europe, there are still good jobs but not that many.[/quote]
That’s doesn’t seem to be the case in software, from my observation. Everyone I know in the software tech industry is desperately trying to find good people to hire… there are more job openings than there are qualified candidates.[/quote]
In San Diego at least there has been a shortage of senior IOS and Android developers. There are also a handful of startups trying to do the same thing. The complaint from recruiters is my company has poached most of them already from other places locally, lol.
The bigger problem is that you’ve got a lot of talent from large employers like Qualcomm, but a lot of them though can only do embedded software, have not done any mobile software. So it’s hard for those folks, to cross over and fill the skills gap unless they have invested the time to do it themselves. Same could be said for IT backend developers and vice versus.
We hired a recruiting agency to hire contractors, and one of the buffoon contractors cold called people at my company asking if they would like to be a contractor to work on a project at my company. Lol.
Market look pretty good in San Diego imho.
August 24, 2016 at 7:58 PM in reply to: OT: Chinese Airline Companies offering $300k+ for pilots…. #800857Participant[quote=mixxalot]H1b and outsourcing of STEM engineering jobs to India and China has severely impacted American engineers! That is fact which you cannot deny. In USA and Europe, there are still good jobs but not that many.[/quote]
Grunt work implementation, yes. Design and architecture and cutting edge R&D, not even close. Move up or move out.
Most of IT really isn’t cutting edge engineering. The bulk of it is run the business.
Participant[quote=barnaby33]Where will the water come from for all this growth?
Josh[/quote]What water shortage? San Diego never had a water shortage.
Participant[quote=Blogstar]I believe the bubble before this big last crash officially took SD housing down only 17%.. However there were plenty of houses down much much more. So, while the next downturn may not look to be a set up for large overall decline , it may offer plenty of opportunities in certain areas.
I don’t have any ideas on where, haven’t been thinking about it , but there will be good buying opportunities.
If it is blue collar areas , would piggs buy? Which investors would?
If it were Eastlake or Santee( just 15minutes from La jolla shores).[/quote]Last time, I wasn’t ready for deals at the higher end. This time I would be. That said, I believe in the lazy landlord theory, irrespective of the kind of property…so long as I don’t get shot going there. (the lazy landlord theory= waiting for opportunities not too far from where you are willing to live, instead of trying to go out of your way to be a landlord way yonder)
On a side note, I think a lot of this is just one big mind game. I am in l.a. and traffic is bad, stores are packed, vacancy is non existence , and it wasn’t this bad just last year. Maybe now that the socal economy is better and people feel better financially with reinflated home prices, and an inflated stock market, people are just happier spending. Ah yes. Good times are back again. It will be interesting to see if the economy and the markets do turn south for the winter, who really can take advantage of it. Usually, if the market goes south like it did last time, usually that led to a pretty bad job market. So some of the very people that were hoping for a re price correction couldn’t take advantage of it anyway because they were unemployed for some time.
Participant[quote=AN][quote=moneymaker]Totally agree investors are chasing returns and when that starts to turn there will be a run by most, not all, but enough to cause a crash. Just like in the last bubble burst, not everyone lost there place though at times it seemed like it.[/quote]Investors and not speculator wouldn’t sell unless you see a big crash in rent as well. Why would investors/landlords sell and have to pay taxes on the gain while they’re cash flowing positive? If anything, I see them extracting equity to buy even more rental if price crash and rent doesn’t.[/quote]
Exactly. I see three exit strategies.
1. Cash out refinance.
2. 1031 exchange.
3. (Used along with either 1 or 2 ) death…and Inheritance and subsequent step up cost basis when your kids take over, eliminating depreciation recapture and resetting cost basis of capital gains. Of course, this nice tax benefit will probably be eliminated in the future
ParticipantFor me, rentals are like pensions. Steady retirement income when you no longer have a salary. The exception is if there is a 2.5x appreciation then I would consider selling.
Most people who bought early on have a lot of staying power for better or worse.
Participant.
Actually, there was one person here that bought multiple properties in Texas that could actually help give you a fair assessment of what’s it like to tackle it. He use to visit here in the past. But since youre a dick about it… you certainly don’t need to get a hold of him because you already made up your mind.
Good luck.
ParticipantDumb renter, you come here asking for advice. You come here with no landlord experience. And are you still a renter here? If so you have not had to deal with any maintenance issues on real property and then you come here and ask people if it’s a good idea to buy and out of state rental, with no prior experience managing.
You choose to listen what you want to hear by those that say no problem…and yet you ignore the fact that briansd doesn’t work at a traditional salaried job to have time constraints you do. And spdrun that owns a 1/1 low maintenance condo in San Diego unlike a sfh you are considering. And btw, he is self employed with a much more flexible schedule.
Objectively, take a step back..do you want to hear what you want to hear and just want affirmation of the decision you already made or do you want a realistic opinion, and everyone that doesn’t say what you want to hear an idiot (mind you, you missed the boat here in San Diego)? If it’s the former, why bother asking then? You already made up your mind.
And the sort of negative type of reply that you don’t like to hear is exactly the same thing that BG would normally post on any other thread, despite have 0 experience with rental property. The difference? Ask yourself why you feel you will be more successful in Texas very riverside county?
That said, if you’ve made up your mind go for it. I am sure if it does t work out for you, it would be easy to ditch rental properties just like investments like stocks…or not…
Participantyou are way late to the party. If you can’t make it with rentals in CA, you’re doing the exact same thing the previous “investors” did right before the RE markets tanked by trying to go out of state who had know prior knowledge/experience in those out of state areas, how the local economy works, and the rental dynamics of that area. Classic example of trying to fit a square peg through a triangle hole when one feels limited in investment options locally…
Also, if you current rent instead of own, and are on a W2 salaried paycheck and not a re professional, it makes even less sense to buy an out of state rental before buying your own home. You get no tax incentive to being a renter, and your positive income from your rental ends up being taxed, and if you were planning on a passive loss to offset your income elsewhere…it won’t work if your household income is above $100k…. you can’t exactly write off all of your rental paper losses against any other forms capital gains or income. That writeoff starts to get limited at $100k and completely phased out when your MAGI is $150k/year
What spdrun and briansd aren’t telling you is neither works at a full time job like you do, in the traditional sense.
I have a rental in the Bay Area, and while it cash flows around $2000000000000000/month, it can be a pain in the assss some times. Just this week there’s numerous of plumbing repairs that need to be done due to old age, and finding an available handyman/repairman is like 3-4 weeks out. It’s going to be cheaper if I fly up there and do the work myself, of fly a handyman I have here up there. I don’t mind doing this because it’s the Bay Area and I can hang out up there and work from my remote office up there….Wouldn’t want to do it if it was in the middle of Texas.
Texas is crap. There aren’t enough walls, and aren’t enough lizards, and really, neighborhoods have far flung starbucks coffee shops. That is immediately going to depreciate your rental property’s home worth.
Plus, you might want to consider the possibility of Texas secede from the U.S. In their constitution, they can legally separate into 21 million different regions and withdraw from the U.S. anytime. It’s really going to happen this year. And property values are going to change drastically as part of that
Don’t forget Texas has terrible weather. A tornado is going to destroy your rental property the moment you buy it. In fact, I don’t know why anyone in their right mind would want to sell insurance in Texas
caveat emptor caveat emptor caveat emptor caveat emptor
But it sounds like you want to hear what you already made up your mind to.
Good luck. And in case you missed it, caveat emptor caveat emptor caveat emptor caveat emptor.
Participant.
Participant.
ParticipantIf you want to try to be a long distance rental, I’d try by picking something small in riverside county first. Prices in riverside county you could probably still cash flow if you look…Or you could even try Chula Vista.I’ve been told that there’s a lot of demand for housing in Chula Vista, especially because there are so many border kids coming here. And since they aren’t going to be buying, there should be a steady stream of renters there. If you can’t handle just a 1-2 hour away rental, you probably won’t be able to handle an out of state rental. My limit was 1 hour away for anything that might require some involvement, especially if the renter quality went down a bit.
ParticipantSure, why not ?
I think that would be a great decision. Nothing can go wrong with being a first time landlord and trying to manage properties out of state at the same time.
I think I would be even more successful if I absolutely knew nobody in those states I wanted to try my first time landlordship in
Participant[quote=Rich Toscano][quote=bullishgurl]I don’t know. You need to think hard *AND* be clever.[/quote]
Hahaha, a bearishgurl parody account, I love it.
Good use of bolding, but but I could tell it wasn’t really bg because it was coherent, and less than 10,000 words long.[/quote]
It’s always a good time to *buy* a house. House prices never go down
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