4 ms·
What's the $1M equivalent for the Bay Area?
by bcherny 8y ago
What's the $1M equivalent for the Bay Area?
- deleted 8y ago[deleted]
- dasil003 8y agoYou don't do it in the Bay Area, you come here for the salary, live with roommates in the cheapest place you can find, and if you keep things tight you walk away with $1M ten years later.
- Retric 8y agoAt which point you can retire in the Bay Area and keep the roommates, move somewhere else, or aim for a few million to stay in the area.
- SCAQTony 8y agoDetroit, Buffalo, Youngstown, Ohio and Houston, Texas in 20 years when electric cars own 50% own the road. You would do very nicely.
- mistrial9 8y agoDetroit ? lead-in-the-water, streetside shakedowns, multiple burglaries.. living with .. whom?
- SCAQTony 8y agoI don't like any of the towns I mentioned, I used them as an example as to what sort of environment you would have to live in which would allow you to live on the interest of 1-million dollars for 50-years-plus.
- ipsum2 8y agoYou can live comfortably in the bay with $1m, if you don't have to pay rent or mortgage. So $1m + a house.
- toomuchtodo 8y agoOr, if you can finance a multi family property and all of the other units cover your mortgage. Disclaimer: Mid 30s, on the FIRE path, tech gig, real estate investor, all that jazz.
- Hydraulix989 8y agoYou still have to pay a chunk of change in property tax and HOA fees every year as homeowner.
- toomuchtodo 8y agoYou shouldn't be buying in an HOA if you're FIRE or living on a fixed income, where someone else sets the annual costs and rules. My property taxes on 2600 sq ft of single family home are ~$3400/year. Still manageable on a $40k/year investment income budget.
- Hydraulix989 8y agoYou're in the Bay Area, and you somehow found a house without HOA here in NIMBY land?!
- toomuchtodo 8y agoWhoops, my apologies. Not in the Bay Area.
- Hydraulix989 8y agoThought those property tax numbers were a bit outrageously low ;)
- dunpeal 8y agoWhy would you retire in the Bay Area?
- bcherny 8y agoFriends and family mostly. Also the food and weather are hard to beat.
- toomuchtodo 8y agoMove to central or south america, take cheap flights a few times a year back to the Bay. You'll still come out ahead.
- mistrial9 8y agodirect story -- a Bay Area artist saved money and bought a tiny plot of land in unnamed central american nation.. brought his lowpressure friendly style to the modest home there.. after two months the nearest neighbor started visiting more frequently.. by the fourth month the neighbor entered the home with a machete and said it was time to leave now or else.. end of story
- toomuchtodo 8y agoCould you not have a similar violent encounter in the mission or tenderloin districts in SF? Or in the East Bay? https://www.mercurynews.com/2017/01/06/bay-area-homicides-2017-map-and-details/ https://www.mercurynews.com/2017/01/06/bay-area-homicides-20...
- dunpeal 8y agoBy far. Why South America? Move to a safe location in Mexico.