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La Jolla Renter
ParticipantPretty much everything I see in SD at the $1M price point is break even rent vs buy. If you are confident you are going to live here for 10 plus years, why not buy now. In 10 years we may be flat on home prices and 8% interests rates.
Look at it from some other angles, you could buy your first investment property and live in it now. 4plex maybe? Or just a condo.
Another consideration might be to get something now while your single and can set it up as a premarital asset investment property.
Also, what is your life financial goal? Play it safe Millionaire next door type? or do you want to take more risks and think a little bigger. Either way is a fortunate position.
I would buy now. Buying smart is the key. Present more data on your situation and you will get some great view points here. Work location, ideal home location, do you see yourself as a landlord, do you have any home improvement skills? What does the perfect home look like to you?
ParticipantI’m lucky enough to be invited to stay here every year.
http://haciendacabosanlucas.com/
Amazing condo… 3,500+ sqft, 12ft ish ceilings, with own private infinity pool and hot tub. I think the purchase price was just over $3M and another $1/2M in furnishings and art.
It sure is nice to have a few rich friends, especially really down to earth nice ones.
Additionally, I noticed that the place has what look like marine grade stainless steel ancors in the stone on the exterior around the windows and doors to board up the place prior to hurricanes.
ParticipantI remember hating listening to Chamberlin like most here, but rarely hear him anymore. I do wish I had jumped on his bubble bandwagon 2002 to 2004, I passed on a couple of really big opportunities. I became a Pigg a couple of years too early.
Chamberlin emcees a meeting I have attend every year for the last 10 years and I have grown to tolerate, maybe even like, him. But, then he doesn’t talk real estate either.
I cast my Realtard turkey award to Barney Frank.
Participant[quote=SK in CV][quote=mixxalot]LOL I’ve worked with tons of Indians in tech work. Made a few good Indian friends but many are rude and racist at least based on my experience. Very tribal mindset to boot and very nepotistic based on my experience over the years.[/quote]
wow. just the same as American white people. Amazing.[/quote]
Not quite the same.
A white father that prefers (not demands) their daughter marry in their race is a racists. But the Indian, Chinese, Middle Eastern, ect. fathers that demand it, are not.
ParticipantHLS and no_such_reality, great points.
Lots of strategies with a rental down the road.
1031 exchange it into your ultimate retirement home.
20 years from now, convert to primary residence for 2 years and sell for $500k tax free gain.
The rental strategies are numerous, but the landlord game is not for everyone. It really only works well if your a shrewd businessman, a good handyman, or lucky. Lucky being great tenants or big appreciation.
ParticipantDo you have kids that could live there someday? A good reason to keep it.
If you can afford to retire that well off in your early 50’s. Then 50k net profit here or there shouldn’t be much of an issue.
Why not hold it for 10 years.
ParticipantI used to think I was so smart renting a high end home from someone that was losing $3k a month, but over time, rent vs buy in San Diego has been a losing bet. Even the $1M-$2M homes are now cheaper to own, or at worst, break even. A newly remodeled $1.4M ish condo or home in La Jolla or PB will cost you $5-6k plus a month to rent.
I think you can pretty much buy anything in the county with 20% down and it will cash flow. 10-20 years ago it took 30% to 50% down.
Participant[quote=mixxalot]Crowded, overpriced, rude people and too low with no good seats makes concerts now so not worth going too.[/quote]
I’ll second that.
I would rather save up and go to one concert a decade and pay for the first couple rows, than go to 15 concerts and sit in average seats.
Or just enjoy a good musician playing covers at an intimate venue.
I think I’m getting old.
ParticipantPre approval letter or approved?
Approved in less than a week, no way, not today.
ParticipantYep, good read.
If you’re just looking at listings why not just call the selling agent directly.
I’ve done this successfully in the past. Fyi, I was a cash buyer (via hard money guy). It helped a lot.
May 12, 2016 at 10:02 PM in reply to: The dire climate of CA public university admissions for freshmen #797532ParticipantStudents and tax payers spend way too much on a sub par university system.
Education and knowledge is a cheap commodity and it’s all available online. Students in California are paying way to much to listen to shitty professors give shitty lectures. Maybe 10% are really good. In 10 years, colleges are going to look a whole lot different. The current system is unsustainable. In 10 years you will probably be able to get an ivy league caliber accredited education for $10k.
I have 14 years before my kid hits college, so hopefully I’m right.
fyi, I graduated with a physics degree, played around a couple of years, then bought a small business. 20 plus years later, still have it. I guess I learned in my summer jobs that I don’t like being bossed around.
Sadly, I have employees working for me that have 60k in student debt and are still just making 30k a year 4 years out of school. They got ripped off by their college.
Participant[quote=poorgradstudent]In theory if you increase sales and can increase economies of scale by selling more products, you can actually increase profit without increasing price at all.
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Great Point poorgradstudent.
I love this classic adage.
Half the money I spend on advertising is wasted; the trouble is I don’t know which half.
John Wanamaker, (attributed)
US department store merchant (1838 – 1922)Participantlivinincali’s thought process looks accurate to me.
I did a quick search on the internet and found that a 81 year old woman’s life expectancy is 9 years.
Way better play to put 40% down on 2 condos that you own outright.
A 350k condo should rent for $1,800 – $2,000 per mo.
Participant[quote=bearishgurl]How does your machine handle 50+ page documents?[/quote]
Works great. If you are scanning more pages than the feeder holds, you just load more pages and hit resume, it just adds it to your pdf.
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