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spdrun
ParticipantHowever, it’s not impossible to find a 2 bedroom condo within a few miles of the beach (biking distance) for that price.
ParticipantOther than housing costs, SD is cheaper than Phoenix in many ways. If you’re NOT looking for rentals and just to live somewhere, is it really totally impossible to find a 1000-1200 sf condo for under $400k (I’ve seen a few in acceptable areas myself)?
People in SD can’t save anything because they CHOOSE to live the “lifestyle” in 3000 sq ft, rather than enjoying their surroundings and realizing that square footage ain’t everything.
Participantusodegen — if he’s going to Mexico by land, he has to cross Rio Colorado at some point, somewhere. Limited number of crossings, that can be relatively easily patrolled. I suppose he could be headed north by this point, or on a sailboat headed down the Baja Peninsula. Who really knows?
ParticipantI don’t think I’ve ever lived in a 3000 sf house (OK, the house on my mom’s farm qualifies now, but 1/3 of that is workshop space). I’m pretty sure I wouldn’t want one till I could afford a live-in maid — vacuuming 400 sf is just fine without me without multiplying that number by 8!
ParticipantI was thinking “long enough to buy.” Which might be 30-90 days for all I know 🙂
As far as landlords, I’m guessing he has $70k in the bank for downpayment. Nothing wrong with dropping $12k cash up front for 6 mo rent on something nice that’s not in Vista (or Phoenix).
ParticipantWhy didn’t he head east towards Arizona??
The Colorado River has a limited number of bridges crossing it on the CA/AZ border (about 10, maybe). It would be easy to put CHP armed with submachine guns on each crossing.
ParticipantNo, he could “move” to Visduh and turn the property into a rental within a year, using it to offset his $2000/mo rent closer to the coast.
There’s a big difference between Visduh and Phoenix, actually. One happens to be in a desert hell. The other happens to be ~10 mi from some of the finest coastline in the USA — whether you use it is up to you, but 15 min drive is a lot closer than 6 hours’.
And yes, I have no problem with using an employer’s offer to acquire rental property, then dropping the employer like a hot potato when their usefulness has expired. They do that all the time with employees; nothing wrong with turning the tables a bit.
ParticipantYou LIE. Take the job in Phoenix, buy something that’s suitable as a rental, get yourself fired, then rent it out and hightail it the hell back to CA. (And yes, you’ll pay a higher rate to get that flexibility, but it’s worth it.)
Also, if he can buy $350k of property in Phoenix, he can do the same in Escondildo or Visduh. Rent expense doesn’t count if you’re officially buying a primary.
ParticipantSo your argument mainly has to do with real estate costs. Why not just stay in CA and buy rentals in an area that has a more favorable buy-to-rent ratio, using the income from them to finance a better lifestyle in CA?
$350k of rental property (financed) should net you $10-15k/yr at least, putting a dent in that 1000 sf condo expense. Keep in mind that average house size up till the ’70s in America was about 1000 sf, so don’t discount living in that size home with a family (people do it all the time in New York).
ParticipantI don’t know — when I went shopping with a friend in Phoenix, some food (not only meat, some fruits and veggies) was actually more than I paid in NYC.
ParticipantAnd if you do have serious irrigation or a pool, it becomes a mosquito paradise. Yeah, surprising, but the skeeters are BADASS out there.
ParticipantA quarter-acre lot which is unbearable to use for anything outdoorsy 4 months out of 12. Much rather have a condo in CA with no lot and access to a lot of beautiful public park space.
I know a few people who bought in Phoenix in 2006-7 and are basically stuck there, wishing they could either move to CA or back to NYC. A big lot isn’t all that it’s cracked up to be.
ParticipantWhere in AZ? Phoenix is a hot, dusty dump with a lot of unpleasant people. Up north and Tucson are more tolerable.
Participant^^^
Agreed. Perhaps include a default deed-in-lieu clause in case of x missed payments in a row in all new HELOC agreements.
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