All Forum Posts by: Chris Williams

Dang, where are you looking?

Here in Fremont we had 2 rooms open in my place (I rent here too). I listed them at $800 each and only received a scattering of BAD prospects. Flakes, people with serious financial troubles, and one guy who wanted to move his girlfriend AND his dog into the room!

We eventually got people in at $750 each, but it took 2 months and way too much stress. (I considered it good practice for screening future tenants.)

If you're seeing cheap room rent in places like Oakland, Berkeley, or San Jose, that could be from A) larger houses with lots of rooms, B) older homeowners looking to supplement income, or C) homeowners looking to attract college students or startup employees. 

It's also possible that enough people have left the Bay Area that it's starting to affect rents.

Someone said earlier that the 'smart' people are not leaving CA. Guess I'm an idiot then, because I'm planning to leave. But I'm leaving for a different reason (at least in part) so I wanted to chime in.

Do you live in California? - Yes

Have you lived in California in the past 5 years? - Yes, born and raised in the state

If so, where? - Fremont, Bay Area for the past 10 years

Will you be staying or leaving? - Leaving, in 2020. Likely to Washington State (not Seattle though).

Why? - Can't afford a house/not willing to pay the ridiculously-inflated prices. Horrendous traffic day in/day out. Taxes ripping chunks out of my wallet. Finally, I'm beginning to experience prejudicial treatment.

What is your full time income producing job? Content/Digital Marketing for an IT agency.

Alicia,

I haven't bought land, but I believe the way to find out about it is through your local building/zoning department. Here's yours:

http://www.westmilford.org/Cit-e-Access/webpage.cf...

If the land is zoned residential, then you could inquire if it's currently owned (public records search will tell you). If the city/township does own it, the building/zoning department will know whom to consult.

You get a lot just by asking. Even if they won't sell the full parcel, ask if you can buy an acre or two. Might turn out pretty well. Good luck!

It's one of those things that kept popping up in my life. We bought a century-old house when I was growing up. Spent all our years there working on it - new roof, new foundation, drywall, floors, appliances, and more I don't even remember. 

Then my parents made a fatal mistake. They sold that house, bought a bigger one...and refinanced in 2007. They'd bought more house than they could afford anyway, but the refi messed up the whole thing. After Dad died, Mom ended up losing it to the bank.

Looking back after that happened, I began to consider real estate as a vehicle to financial independence. I missed out on the crash entirely...but then, I missed the Bitcoin craze too. Guess my timing stinks!

Anyway, guess I'm right there with you. I don't have faith that the stock market will see to my retirement. My career path is decent, but it won't make me wealthy. Real estate gives me a familiar method to wealth, and one toward which I don't mind working.

Pardon my jolting this thread back into activity, but if I might add on to this question...?

I'm exploring a few places to move, buy a place to live, and begin REI in the area. Likely start by buying a duplex to live, maybe house hacking or renting the other unit to family, waiting a year, and then refinancing to pull cash out for totally-investment properties.

I have friends in the Greater Pittsburgh area who like it very much. But they don't know much about about the overall region's REI prospects. @Megan Hirlehey or anyone else into Pittsburgh REI, could I ask for a little more input?

A friend of mine recently moved from the SF Bay Area to a smaller town just north of Pittsburgh. Sold a house in Tracy and was able to pay for the Pittsburgh house (which sits on 2 acres) outright, with plenty left over. He loves it there.

It's a region I consider for investing. Glad to find out about at least one good area.

Glad this thread popped back up. Indy's on my radar too - the whole state is, in fact - so knowing where to go & not to go helps out.

Thanks for listing the numbers out Emily. I'm looking at Vancouver as a potential place to move in a couple years...good to see how local properties are working out. Hope the close went smoothly and the property's working out for you!

Look out world, I'm escaping from California! The only question now is...where to move to?

Granted, this is not strictly REI-related. But my decision will be heavily motivated by real estate anyway, and I'll definitely want to make some contacts at the new location. Consider this a preliminary hand out.

In late 2019/early 2020, I plan on escaping California's exorbitant prices and problematic housing environment. I'd like to find a cheaper, decent place to live while I save more & work on acquiring property. (And maybe some notes; I like that idea.)

Criteria:

• Cooler climate than CA. The significant other and me both enjoy cool, overcast/damp weather.
• Good business climate.
• Good real estate environment/reasonable prices! (Almost anything's better than California prices, but I digress...)
  • I don't intend to invest locally 100% of the time. Already considering Indiana, Alabama, Ohio, and Texas for long-distance REI.
• Decent tech industry. I'm a content marketer/manager; a lot of my work comes from the tech community. Obviously I'll need to find work in the new area.
• Reasonably-close access to good medical care. Said SO is diabetic...I don't want reaching a good hospital to take hours.
• Not New York, DC, or Texas. I personally wouldn't mind northern Texas, but the SO would.

O Great Mental Conglomerate of BP...what say you? What regions should I consider?

Speaking from a technical point of view...I'd also scan note documents into your computer & store them on an external drive. A good-sized USB drive should work fine. Easy to store, nondescript, and you've got a complete backup in the palm of your hand. You could put this in a safe deposit box, keep it at a (trusted) friend's place, or even bury it in the backyard!