How Should My Friend Allocate His Capital When Relocating?
Dear Forum,
My friend lives in the Bay Area and is preparing to relocate. I would like to get everyone's opinion on how he should make his next move. He has about 550,000 dollars to spend. Should he buy a 3,000 sq ft house in Oakley, CA for 550,000 or buy a 1,000 sq ft condominium in Walnut Creek, CA for 250,000 and a 2,600 sq ft house in Plumas Lake, CA for 300,000 and rent it out. He also has a girlfriend and a daughter and works in San Francisco. Everyone's insight is appreciated in this since this is an important decision. Thanks in advance.
Regards,
John Amiri
Most Popular Reply
@Arjan Amiri your friend is in a great position to be in. There are a ton of factors outside of the items you listed that buyers usually think about when selecting a primary residence (i.e. schools, commute, etc.) that I know you know, but that really will influence a lot of the input you would get. I will send you a PM to follow up and share my 2 cents.