3000 The Plaza

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[quote author="JLegend" date=1220416701]



You're right. A quick search on google regarding big law firm salaries reveals 1st years making 160K, 2nd = 170K, 3rd 180K, 4th 190K (it appears this industry is most transparent - couldn't find similar numbers for other professionals). From what I've come across, bonuses range anywhere from 20K-50K across relevant class years. Typically laywers who go straight through graduate by 26 (a 3 year program on top of 4 years of undergrad), and will start pulling in close to 200K after the first year or so, so by 27. How many of those young people actually move to OC or are inclined to buy expensive property right away is another matter for which I do not have an answer for. I have a friend from B-School who stands to make about $150K upon graduation, but probably still not enough to afford the Plaza.</blockquote>


Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.
 
[quote author="freedomCM" date=1220419453]Most of those published numbers are for NYC, usually securities law.



Are those numbers you quote for The OC or LA?</blockquote>


My understanding is that the numbers are for most major market areas, including the Orange County and San Diego offices of these major firms.
 
[quote author="25w100k+" date=1220419851][quote author="JLegend" date=1220416701]



You're right. A quick search on google regarding big law firm salaries reveals 1st years making 160K, 2nd = 170K, 3rd 180K, 4th 190K (it appears this industry is most transparent - couldn't find similar numbers for other professionals). From what I've come across, bonuses range anywhere from 20K-50K across relevant class years. Typically laywers who go straight through graduate by 26 (a 3 year program on top of 4 years of undergrad), and will start pulling in close to 200K after the first year or so, so by 27. How many of those young people actually move to OC or are inclined to buy expensive property right away is another matter for which I do not have an answer for. I have a friend from B-School who stands to make about $150K upon graduation, but probably still not enough to afford the Plaza.</blockquote>


Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


He/she sure knows <em>a lot</em> about salaries of big law firms. ;-)
 
[quote author="25w100k+" date=1220419851]



Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


Wow, you're really itching to know what I do and are quite persistent about it. I'm a working professional in my very early 30s with no wife or family and don't foresee either in the next 3-5 years. I can potentially clear about $200K, depending on the market this year. I am going to remain anonymous about what I do, and it has nothing to do with drugs (illegal, anyway). So at this point, I can afford the "cheaper" units at the Plaza, but not the more expensive ones. The more I think about it, the more ridiculous that is considering my income level. Boy, prices really need to drop for that place for it to make any economic sense. We'll see what happens...
 
[quote author="graphrix" date=1220420823]



He/she sure knows <em>a lot</em> about salaries of big law firms. ;-)</blockquote>


Nice try, but such info is readily available on google. I tried getting the same info for internal medicine doctors, but didn't want to rely on the nation-wide results I got which put the average too low. Salary for surgeons is all over the place, and so is that for dentists with their own practice (I suppose at that point, it isn't a "salary). You're not going to get disclosure about salaried employees from any of the area companies, that's for sure.
 
[quote author="JLegend" date=1220416701][quote author="25w100k+" date=1220404956]

Well, I get in 'theory' what the demographic is, I guess i'm not sure about the reality. So, specifically, what is your age and industry and your general salary range? You are anonymous, so I think it should be fine posting.



I just don't know too many people in their twenties making that kind of money. I have friends at big law firms and even they don't pull in 200k (yet?). Sure, a doctor could make that easy, but by that time they're in their mid-thirties which is about when people start having kids.



Maybe i'm mis-judging the number of single professionals later in life who don't want a family. I'm the first one to tell you that Irvine has a number of high paying jobs in a variety of industries, I just don't think we have too many Ibanking type jobs where a 26 year old is going to pull crazy money right out of his MBA program such as Chicago or Wall Street.</blockquote>


You're right. A quick search on google regarding big law firm salaries reveals 1st years making 160K, 2nd = 170K, 3rd 180K, 4th 190K (it appears this industry is most transparent - couldn't find similar numbers for other professionals). From what I've come across, bonuses range anywhere from 20K-50K across relevant class years. Typically laywers who go straight through graduate by 26 (a 3 year program on top of 4 years of undergrad), and will start pulling in close to 200K after the first year or so, so by 27. How many of those young people actually move to OC or are inclined to buy expensive property right away is another matter for which I do not have an answer for. I have a friend from B-School who stands to make about $150K upon graduation, but probably still not enough to afford the Plaza.</blockquote>


Your numbers for the big law firms, seem to be right on. The one thing that you may not be factoring in is the debt that these young lawyers have. Yes, they can be making around 200K within the first 2 or 3 years (including bonus) but they are also in a very high tax bracket, and may have alot of debt due to graduating from a highly respected law school.
 
[quote author="graphrix" date=1220420823][quote author="25w100k+" date=1220419851][quote author="JLegend" date=1220416701]



You're right. A quick search on google regarding big law firm salaries reveals 1st years making 160K, 2nd = 170K, 3rd 180K, 4th 190K (it appears this industry is most transparent - couldn't find similar numbers for other professionals). From what I've come across, bonuses range anywhere from 20K-50K across relevant class years. Typically laywers who go straight through graduate by 26 (a 3 year program on top of 4 years of undergrad), and will start pulling in close to 200K after the first year or so, so by 27. How many of those young people actually move to OC or are inclined to buy expensive property right away is another matter for which I do not have an answer for. I have a friend from B-School who stands to make about $150K upon graduation, but probably still not enough to afford the Plaza.</blockquote>


Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


He/she sure knows <em>a lot</em> about salaries of big law firms. ;-)</blockquote>


Most big law firms have the same or very comparable salaries. It can easily be looked up, it is not private information.
 
[quote author="JLegend" date=1220420869][quote author="25w100k+" date=1220419851]



Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


Wow, you're really itching to know what I do and are quite persistent about it. I'm a working professional in my very early 30s with no wife or family and don't foresee either in the next 3-5 years. I can potentially clear about $200K, depending on the market this year. I am going to remain anonymous about what I do, and it has nothing to do with drugs (illegal, anyway). So at this point, I can afford the "cheaper" units at the Plaza, but not the more expensive ones. The more I think about it, the more ridiculous that is considering my income level. Boy, prices really need to drop for that place for it to make any economic sense. We'll see what happens...</blockquote>


Hey, I just wanted to know, no hard feelings. Clearing 200k, young guy in his 30s... Maybe in mortgages? Or perhaps a RE investor.............? (for a certain company? ;-) )
 
[quote author="BMP 309" date=1220421363]Most big law firms have the same or very comparable salaries. It can easily be looked up, it is not private information.</blockquote>


True, but maybe I know something no one else does...
 
[quote author="graphrix" date=1220431290][quote author="BMP 309" date=1220421363]Most big law firms have the same or very comparable salaries. It can easily be looked up, it is not private information.</blockquote>


True, but maybe I know something no one else does...</blockquote>


Considering that you are a moderator, and I'm just barely living with parents...I'll give ya that! ;)
 
[quote author="BMP 309" date=1220421213]

Your numbers for the big law firms, seem to be right on. The one thing that you may not be factoring in is the debt that these young lawyers have. Yes, they can be making around 200K within the first 2 or 3 years (including bonus) but they are also in a very high tax bracket, and may have alot of debt due to graduating from a highly respected law school.</blockquote>


Are young big firm BSD lawyers hours a fable? I was wondering why one of the $200K a year slaves would even need an apartment, er condo.
 
[quote author="25w100k+" date=1220425780][quote author="JLegend" date=1220420869][quote author="25w100k+" date=1220419851]



Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


Wow, you're really itching to know what I do and are quite persistent about it. I'm a working professional in my very early 30s with no wife or family and don't foresee either in the next 3-5 years. I can potentially clear about $200K, depending on the market this year. I am going to remain anonymous about what I do, and it has nothing to do with drugs (illegal, anyway). So at this point, I can afford the "cheaper" units at the Plaza, but not the more expensive ones. The more I think about it, the more ridiculous that is considering my income level. Boy, prices really need to drop for that place for it to make any economic sense. We'll see what happens...</blockquote>


Hey, I just wanted to know, no hard feelings. Clearing 200k, young guy in his 30s... Maybe in mortgages? Or perhaps a RE investor.............? (for a certain company? ;-) )</blockquote>
As a decent commercial real estate loan officer (at a lender like a bank or insurance company) you can clear $150k-$200k/yr (base in the low $100k range plus commission bonus).
 
If Plaza is one of the building in this photo, I will consider it. BTW, this is a photo of Vancouver. I used to live there and have looked at MANY condos similar to the Plaza. I get JLegend's mindsets and respect his decision but I won't settle for a busy Jamboree in lieu of a waterview in front of the building.
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[quote author="25w100k+" date=1220425780][quote author="JLegend" date=1220420869][quote author="25w100k+" date=1220419851]



Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


Wow, you're really itching to know what I do and are quite persistent about it. I'm a working professional in my very early 30s with no wife or family and don't foresee either in the next 3-5 years. I can potentially clear about $200K, depending on the market this year. I am going to remain anonymous about what I do, and it has nothing to do with drugs (illegal, anyway). So at this point, I can afford the "cheaper" units at the Plaza, but not the more expensive ones. The more I think about it, the more ridiculous that is considering my income level. Boy, prices really need to drop for that place for it to make any economic sense. We'll see what happens...</blockquote>


Hey, I just wanted to know, no hard feelings. Clearing 200k, young guy in his 30s... Maybe in mortgages? Or perhaps a RE investor.............? (for a certain company? ;-) )</blockquote>


Seems pretty clear to me that he's in pharmaceutical sales or marketing. Big commissions, drugs of the not illegal kind.
 
[quote author="irvinesinglemom" date=1220620677][quote author="25w100k+" date=1220425780][quote author="JLegend" date=1220420869][quote author="25w100k+" date=1220419851]



Well, what do you do and what is your age that you can afford a place like this? I'm assuming you are younger, since this seems less likely to be a family oriented place... but thats just an assumption.</blockquote>


Wow, you're really itching to know what I do and are quite persistent about it. I'm a working professional in my very early 30s with no wife or family and don't foresee either in the next 3-5 years. I can potentially clear about $200K, depending on the market this year. I am going to remain anonymous about what I do, and it has nothing to do with drugs (illegal, anyway). So at this point, I can afford the "cheaper" units at the Plaza, but not the more expensive ones. The more I think about it, the more ridiculous that is considering my income level. Boy, prices really need to drop for that place for it to make any economic sense. We'll see what happens...</blockquote>


Hey, I just wanted to know, no hard feelings. Clearing 200k, young guy in his 30s... Maybe in mortgages? Or perhaps a RE investor.............? (for a certain company? ;-) )</blockquote>


Seems pretty clear to me that he's in pharmaceutical sales or marketing. Big commissions, drugs of the not illegal kind.</blockquote>


Who cares?
 
[quote author="Keanu" date=1220618447]If Plaza is one of the building in this photo, I will consider it. BTW, this is a photo of Vancouver. I used to live there and have looked at MANY condos similar to the Plaza. I get JLegend's mindsets and respect his decision but I won't settle for a busy Jamboree in lieu of a waterview in front of the building.</blockquote>


What other alternatives are there? buying a cookie cutter house deep in irvine or tustin, and I don't even have a family? Buying a SFR in east side costa mesa would still cost more than one of the cheaper units at the Plaza, and the places are old (old cabinetry and countertops, for example, that I will have to change out, but probably won't) and, for the most part, not necessarily charming. Moving out of OC is out of the question for the next few years since I like my job. I guess I could keep renting, but i have no tax break, no equity in anything, and living in an apartment sucks, and I'm tired of it. More important to me, for now at least, is quality of life, and apparently people's viewpoints differ on that.
 
[quote author="Roo" date=1220621533]

Who cares?</blockquote>


Because I think he is involved in selling the units at 3000 the plaza. Its suspicious he's pushing them so hard and no other place, along with the fact that he won't reveal what his job is on an anonymous internet forum? But he's willing to tell us all about the places he wants to live?
 
[quote author="Keanu" date=1220618447]If Plaza is one of the building in this photo, I will consider it. BTW, this is a photo of Vancouver. I used to live there and have looked at MANY condos similar to the Plaza. I get JLegend's mindsets and respect his decision but I won't settle for a busy Jamboree in lieu of a waterview in front of the building.</blockquote>


Good photo and the setting are right. Feng (wind) Shui (water) are the two vital ingredients for a successful high-rise project. The 3rd ingredient is being land locked. The structure must have air movement of prevailing breeze (feng) and view of the ocean or a very large body of water (shui) that generates the prevailing breeze. Here are some examples that fit my descriptions: San Francisco, Hong Kong Shanghai, Manhattan, Chicago, Vancouver, San Diego, Miami and even our local Marina Del Rey and Long Beach. Some of the motioned locations are more successful than others. Being Land locked is the best location for defensible space. Places like Hong Kong and SF are two classic examples of good defensible space. From my earlier posts on rule of good feng shui the structures are situated on land facing water and having the hills behind. Having a hill created a land locked location.



Manhattan on the other hand is very successful but lacking a hill at the back of the water frontage development. It has 2 primary water fronts. Very ironic but man made elements can create this taller "back" element to resemble the artificial "hill". The planners of Manhattan in 1910 adopted a genius planning and zoning code to mandate the nucleus of Downtown having the tallest high-rise structures and shorter structures toward the water. The "Pyramid" model was to allow sunlight reaching into the street of a "concrete jungle" by not having tall structures along the perimeter. This accidentally coincides with the Feng Shui model as well. The 2 water edges now has an artificial "hill or back" for defensible space.



Marina Del Rey and Long Beach both satisfied some feng shui model but not meeting all so both have their share of problems. San Diego has the hills of Kensington and Balboa Park behind the high-rises will meet a higher level of success.



With that being said artificially creating a visual lake to enhance the immediate environment of the high-rise residential project would not qualify and doom to fail or building in places with stagnant natural lakes like Big Bear lake, Lake Arrowhead, or Lake Mead. In my book the Turnberry Towers in Las Vegas or the lofts in Downtown LA do not fit the Feng Shui model and only met some marginal success. These locations lack the proper prevailing breeze and quality developments amenities tailored to the economic model of water edge properties.



High-rise residential success and failure is all about picking the right site. Planners in suburbs like Irvine zoned certainly area to have the high-rise core. Developers thinking when the planners dedicated the area to have high-rise then it must be right. Planners have no feng shui experience and the disaster we see along the Jamboree will get even uglier. We will need several thousand JLegends to lite up the pitch black windows at night.



JLegend is a perfect buyer for the towers. The problem for the developers is to find other individuals with his lifestyle, single status, and career success. In his 21 posts so far he has already said enough to have revealed his profession and identity.
 
[quote author="25w100k+" date=1220665291][quote author="Roo" date=1220621533]

Who cares?</blockquote>


Because I think he is involved in selling the units at 3000 the plaza. Its suspicious he's pushing them so hard and no other place, along with the fact that he won't reveal what his job is on an anonymous internet forum? But he's willing to tell us all about the places he wants to live?</blockquote>


I'm not pushing anything. I only described my experience, and the lifestyle I'm looking for. Whether one believes the Plaza or something similar can satisfy that lifestyle is individual. I only have as many posts I do because I was addressing whatever comments are being made. I couldn't care less if anyone else on this forum wants to buy there. Latest news I've received is that a decent portion of people are paying cash for these units (3000, anyway, which I hear is slightly under 50% sold). I'm sure people with that much cash aren't on internet forum boards. I certainly wouldn't be. I don't need to reveal my job because it is irrelevant to the discussion. I don't know why you are so surprised that there could be a person only a few years older than you making twice than what you are making. There are MANY people like that out there, and even many more successful people. Just to satisfy your curiousity, let's say I'm a doctor...or a lawyer...or dentist...or in pharma sales...or how about I work at google. I'm sure a number of those people off jamboree have made out very well.
 
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