105K Income Qualifies for Sec 8 in Bay Area

Wasn’t commenting directly about what he is doing, just noting one of the commentator who suggesting moving to a no-income tax state. But he wants to be close to his relatives :slight_smile:

All the commenters make far less than her. So why bother with advices from people in a lower league?

Does that mean rich people should fire all their financial advisors?

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There is another way of thinking about this. Understanding these guys and don’t do like them :slight_smile:, hope not sounding too elitist :blush:

Trying to be cheeky again. I take it to mean guys in the same professions and not doing as well as he is. His business is in the growth phase, there is no guarantee the growth would last or his economic moat is sufficiently wide to prosper/ survive competition which always come when profit is great.

Financial advisors should have taken their own advices and be rich themselves, right?

I understand Michael Jordan may not be the best coach, but coaches should at least play the game well themselves.

OK. I scrolled thru that Reddit thread. A few said they made that much. So I take back my comments. :smile:

This person is making 1.2M a year and only wants to buy a 700K house up in Oregon. Interesting. Here in Bay Area we have people making 400K buying 2M+ in Sunnyvale/Cupertino. Polar opposite.

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Yes, with 1.2M a year he should be looking at buying a mansion in Atherton as well as a rentals in San Francisco, South Bay, and East Bay.

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I don’t believe anyone write anything in public forum, manch you can say you earn 10 mil a month and breakdown some BS number and CEO of some china real estate investment firm as well.

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If your small business makes $200k profit each month, would you describe that your business is making an “absurd amount of money”? He is a native speaker in Oregon, but mentions “small city”. Portland is not small, I assume he currently lives in or around Portland.

His post seems to be legit and his questions are good. Benefit of online discussion is that no one is directly profiting from the advice.

If I make $100k a month, I would continue to use the online forum for discussions. Honesty somtimes beats education and skill level.

I think a financial advisor may give the best advice when talking to a stranger who he’ll never meet again and never do business with in the future. Do not underestimate the impact of conflict of interest

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You can get advice from various advisors, just like yoi go to school to get education. Your teachers may make much less than you, but the knowledge they give you can still be helpful.

No advisor can make you a success or a rich man, that’s the job for yourself

It is smart to live across the river in Vancouver, Washington. .no income tax and shop in Portland. …no sales tax…

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This was exactly what I wondered.
It seems that they didn’t define “low income” based on income distribution.
Probably they defined “low income” purely by living cost calculation that they came up with?
Anyway, it doesn’t make sense to me…

Yes, there is a city called Camas, WA which is best for this. However, this is very small city, but the prices are increased already equally. I used to watch this city, but missed the 2008-2011 opportunity to have one here !

Best is to first compare the income with that state, WA or NV with CA using TaxGraphs

Commies use media to influence policy.