Seattle wins.
Where can a teacher afford to live in the Bay Area?
A teacher making average pay can afford the median mortgage payment in just 16 ZIP codes in the Bay Area and Santa Cruz County.
Seattle wins.
Use redfin. Target neighborhoods have similar prices (and yields). $250k-$350k.
$700-800K can buy a SFH on the east side of Seattle: Bellevue, Kirkland, Redmond etc. TH is 100 to 200K cheaper. Itās cheaper than Oakland. I think itās about 50% of prime Bay Area.
You decision making is painfully slow. You canāt wait till it becomes a fact. Should have already diversified from California. You have been exploring OOS for a few years!!! Make a decision and act!
My decision is to wait and see.
Even if the 5% rent increase limit passes, I can still ride the 5% for a few more years until tenants naturally move out. None of my properties is increasing rent at more than 5% anyway. After tenants move out I can choose to sell outright or 1031 into OOS properties.
I am not that much different from you actually. Since I am not putting in new money, for me to move OOS I have to sell first. And you arenāt selling your CA properties.
Well, this means that I donāt have to worry about getting new tenants. Not a bad deal.
My tenant has been super nice so far. Always on time on payment, never bothers me.
I hope he can live in my rental as long as possible.
Pipe dream. Turnover rate in Silicon Valley is sky high. Donāt expect any tenant to be with you for more than a couple years, especially if you charge them more than $3k each month.
Same here. Discussed with my SO, decision regarding the CU SFHs is similar to yours.
Even so, should be visiting potentials in Seattle, Austin, Atlanta and RTP. Florida and Las Vegas if canāt find any suitable in those four.
Austin are all new monies. Just no new monies in SV.
I actually thought about visiting Austin. Just too lazyā¦ Seattle would be good too. If I were to invest OOS these two would be on my short list.
Donāt bother. Stockton is already too far as is.
Iām heading to Chengdu next month to buy my properties thoughā¦
Brushy Creek neighborhoods for outstanding schools (as good, some are better than Cupertino). Old houses though.
Leander and Cedar Park for cheap, new and big houses. Good if no need outstanding schools.
You may be arrested for all your anti-Chinese rhetoric
When are you moving to Austin for good? I can come crash at your palace.
Thatās $250 per night with room furnished
Jan 2020.
Really? Nobody can speak Chinese there. You wouldnāt be able to get around town because nobody can understand what you say.
Donāt you need to make sure you donāt spend even one day living in CA to not pay any CA income taxes? If so it may be safer to move before Christmas this year, just so you have some buffer room.
Donāt you need to make sure you donāt spend even one day living in CA to not pay any CA income taxes? If so it may be safer to move before Christmas this year, just so you have some buffer room.
Actually is before Christmas
Somebody suggested in the comments to make Prop 13 exempt for rentals:
A teacher making average pay can afford the median mortgage payment in just 16 ZIP codes in the Bay Area and Santa Cruz County.
To increase property tax for rental property to increase rent? Or make the property tax zero to reduce rent?
Property tax and rent moves in the same direction in the long term. Lower property tax will make rental property more attractive so supply will increase. This will reduce the amount of rent increase and make it more affordable.