California? Where are you buying a house that is over 500k?
Definitely not in LA, but there are plenty of legitimate cities (not just podunk flyover places) that you can buy a decent, move in ready house with cash for 100-150k. Or you can buy a cheap project house for 20k and hire a GC to fix it up your way for 60k and save that way. Nobody is forcing you to live in LA. But yes in LA you probably have to rent if you don't make a solid six figures a year.
Real estate on the moon is free
what business would you start for 100k?
Not 33 yet but I'm at the tail end of paying off my home. I regret purchasing it tbh. Just hanging on until I decide to leave CA.
I was thinking about starting a multi-million dollar business but then it occurred to me. DUH! Why not start a multi-billion dollar business?
Screen pressing T Shirts with internet memes.
So if you drop 220K cash you can have a decent updated home that has a resale value about 20K less than you just dumped in it, and now you're a quarter million dollars in the hole, and still don't have a business.
What math are you talking about?
I said buy the project house for 20k and rehab for 60k, with the resale value in the 100-150k range. That's not a loss. I don't get what you're talking about?
but the impending recession will happen sooner, not later... 2020-2022 should be a buyers market again.
Not 33 yet but I'm at the tail end of paying off my home. I regret purchasing it tbh. Just hanging on until I decide to leave CA.
Quit quoting me, Andy. We all know what little money you make goes to feeding that whale you're with
post pictures of her if you insist on being a doxxing smartassQuit quoting me, Andy. We all know what little money you make goes to feeding that whale you're with
also, I don't buy her food and she isn't a whale. I get her food from the food pantry
All I can say for myself is that I was able to save about 5 times that much by 34 [no debt or mortgage]... actually, never had any debt to speak of for those previous 15 yrs, after dropping out of college to work full-time at 19.
I still don't own a home or plan on one in the future... I'm allergic to any kind of debt in general, that's just who I am.
Currently, I'm no longer working & don't know if I'll ever get back into it again down the road when things get tough
Well, tomorrow is another off day just like the recent 11+ yrs!!
Someone has to use those days off, why not this someone
where do you live? you saved over 500k by age 34 but dont want to buy a house because of fear of debt? most places, you can buy a home cash with that kind of savingsAll I can say for myself is that I was able to save about 5 times that much by 34 [no debt or mortgage]... actually, never had any debt to speak of for those previous 15 yrs, after dropping out of college to work full-time at 19.
I still don't own a home or plan on one in the future... I'm allergic to any kind of debt in general, that's just who I am.
Currently, I'm no longer working & don't know if I'll ever get back into it again down the road when things get tough
Well, tomorrow is another off day just like the recent 11+ yrs!
Someone has to use those days off, why not this someone
Project house for 20K? That's called a shed. You can't find 60K worth of upgrades for a shed. You'd have to tear it to the ground and build a 60K shed.
Atlanta according to the "Location" information.
Retiring on 500K at 34.
500k won't buy a house in any LA or SF suburb reasonably close?
Go ahead. Dox me. Post pics of me on here like Larry in the 49ers hat. That's a triple dog dare.
I bought a 1,830 square foot, partial brick home in Columbus, Ohio for 21K cash in early 2017.
If I'd bought it in 2013 it would have been $6K.
Then you have Detroit, where there were 1500-2000 sqft houses available for around $1k in the winter of 2012-2013. Not joking.
A lot of it is when you buy relative to the economic cycle. Now is still bad because it's still a seller's market, even though it's slowly trending back down towards buyer's. When the recession hits the project houses will go for next to nothing. Because there's a lot less disposable income so a lot less cash/hard money investors in the market, so if you do have cash on hand you can get them cheap.
Atlanta is in the South, a relatively cheap part of the US, he could definitely find a NICE place in the suburban metro area for well under half of that with cash. One of those colonial Dixie style Gawga (Georgia) houses.Atlanta according to the "Location" information.
Retiring on 500K at 34.
in LA, if you go to an area like northridge, you can probably get an acceptable starter condo/townhouse for about 500k. but beyond a condo, a house at that price range is going to probably need a ton of renovation. you need to pony up more than that for an acceptable house. if you go to nicer area like studio city, you're not finding anything at 500k tbh. even for something like a 2 bedroom condo in that area you're looking at least 600+
if you're looking for a non condo and want room for more than just 2 people, you want to have 200 minimum just for your down payment, generally speaking, in LA.
funny thing is, my sister and bro in law just recently bought a 3 bedroom home in glendale. i bought my 2 bedroom condo here in charlottesville for less than their down payment
its not just housing prices... my annual car + homeowners policy is virtually the same (slightly less, actually) than i was paying for a 6 month term on auto insurance alone back in LA (same car). my wife and i had to pay to get our drivers licenses here, get the car led here, and registration. all that cost less than i would pay just for registration back in CA. everything beyond commercial goods (food, electronics, etc) is substantially cheaper
LA isn't really representative of the rest of the country. certain pockets like LA and the bay area (or hawaii, in general) are outliers when it comes to housing/property costs. so when we hear all these financial advice shows or read the articles, its hard to do anything but laugh. but these outlier areas aren't really the target audience, so its not really a fair comp
Andy, we've been through this. You can just Facebook your name and post them yourself if you want. You're a compulsive liar though, that's your entire reputation here.
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