alkemyst
No Lifer
- Feb 13, 2001
- 83,769
- 19
- 81
Do you hate your job because you work at the local McDonalds? Manager perhaps?
$450k is hardly the realm of those buying I/O products. If you live in the armpits of America then yes that is excessive, but any of the top 10 places to live will have pricing like this.
Also in reply to your constant "what you going to do when the bubble bursts" posts. How much do you think the market is going to adjust to affect a primary home owner? Investors may get a 3-5 year set back, but real estate is not going to get *majorly* cheaper in the top markets ever.
holy cow, I will have to do an interest only loan to afford something like that....how can people afford that, I dont think Cali ppl make 2-4x as much as the people from the east coast for the same job.
Lets hope it doesn't. People been talking about this bubble for almost 2 years now and it doesn't seem to be affecting alot of people, everyone is buying like crazy here. For those who are wondering, I'm a IT analyst for a big corp and I just turned 27.
based on the price you buy it, plus an incremental increase per year you own the property.
my dad said he bought our house for 280 (this was in 1988) and after living in there for nearly 17 years, he now pays taxes for a house valued at 380,000. thank prop 13 californians. although the people buying now for at a shade under a million and at interest only, i have NO idea how they're going to pay their property taxes.
although there a TON Of nutsos out there (i call them nutsos) that just want to flip the property anyways.
i live about 10 miles away from Los Angeles and it takes me at least 30 mins. everyday to get to work. RC is more like 40 miles away from LA.
what is your salary about? (nearest 10k if you dont' want to give exact figure)
I need to figure out how low-balled I am (if at all) because right now, my price range for a house would be 100-150k.
I need to figure out how low-balled I am (if at all) because right now, my price range for a house would be 100-150k.
All the people saying it's cheaper where you live -- there are other reasons it is cheaper 
Grats OP!
Grats OP!
alkemyst
No Lifer
- Feb 13, 2001
- 83,769
- 19
- 81
Almost all flipping properties buy at I/O...you have to realize unlike stocks where 100% of your own money balances against your profit, in real estate 20% or as less at 3% or 0% can buy into the 'total' profit.
in my area properties have been bought at $150k one day and sold for $250k the next week and then more...it's drying up for the deals but they are still out there.
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