The sanity of owning a home for a single guy

[Cklein]

Jesus! I think this is insane.

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

 

[flipper]

Jesus! I think this is insane.

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

It's possible if you know what to buy and have the ability to buy it. Look at this:http://www.redfin.com/CA/Irvine/55-Grandview-92603/home/5928082

Paid $3.2M two years ago and is on the market for $1m more.

 

[usctrojancpa]

Jesus! I think this is insane.

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

It's possible if you know what to buy and have the ability to buy it. Look at this:http://www.redfin.com/CA/Irvine/55-Grandview-92603/home/5928082

Paid $3.2M two years ago and is on the market for $1m more.

I'll make a friendly wager for charity that the home won't sell for more than $4m. 

 

[usctrojancpa]

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

If I had $2m in my trading account last year, I could have turned it into $3m by today.  I'd never tie that much capital in an illiquid asset as a home.

 

[flipper]

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

If I had $2m in my trading account last year, I could have turned it into $3m by today.  I'd never tie that much capital in an illiquid asset as a home.

There is leverage in real estate purchase. In theory, he can use $0.4M cash to buy a $2M property and finance the rest.

 

[flipper]

Jesus! I think this is insane.

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

It's possible if you know what to buy and have the ability to buy it. Look at this:http://www.redfin.com/CA/Irvine/55-Grandview-92603/home/5928082

Paid $3.2M two years ago and is on the market for $1m more.

I'll make a friendly wager for charity that the home won't sell for more than $4m.

Well, who can believe that a 2400SF house without view in Turtle Ridge can sell for $1.63M?http://www.redfin.com/CA/Irvine/26-Trumpet-Vine-92603/home/5901313

 

[usctrojancpa]

Jesus! I think this is insane.

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

It's possible if you know what to buy and have the ability to buy it. Look at this:http://www.redfin.com/CA/Irvine/55-Grandview-92603/home/5928082

Paid $3.2M two years ago and is on the market for $1m more.

I'll make a friendly wager for charity that the home won't sell for more than $4m.

Well, who can believe that a 2400SF house without view in Turtle Ridge can sell for $1.63M?http://www.redfin.com/CA/Irvine/26-Trumpet-Vine-92603/home/5901313

Yes, but the air starts to get very thin once you get above $3m+...there are a lot more buyers in the $1m-$2m range roaming around then there are ones at $3m+.  There's only been 1 closing over $4m in turtle ridge in 2012 and that was 21 Grandview which was 6,070sf that sold for $4.2m.

 

[usctrojancpa]

If you are making $50k/mo, you should be qualified to buy a house at $2m-3m. I would actively shop for a short sale  / foreclosure property in $2m range. The property may be worth $2.5m next year. You can rent this property out and keep staying at $2k Irvine apartment until you want to move to the property. Earlier this year, you could buy a shady canyon 4800SF property from short sale at $2.3m. The short sale property I bought last year for $1.7m is worth more than $2m today.

If I had $2m in my trading account last year, I could have turned it into $3m by today.  I'd never tie that much capital in an illiquid asset as a home.

There is leverage in real estate purchase. In theory, he can use $0.4M cash to buy a $2M property and finance the rest.

Yeah but I don't have high transaction costs in trading like you do in real estate transactions.  It's not cheap to buy and sell real estate. 

 

[icey]

cklein I was in your situation last year, well without the 50K per month good lawd son (yes jealous). I had just broken up with a very long time girlfriend so I wasn't sure whether to keep renting, move to a new geographic location, or buy something. Even though it was a tough breakup, the good news was that I was in full control of what I wanted to do now so the decisions were 100% mine, and so I enjoyed the freedom.

I looked at the numbers and contacted USC (he has the skills), and told him I was at a fork in the road, and I wanted to see what was out there and what my money could buy. I wasn't surprised that my money went much further than it did in 2006, when I had first looked, but was surprised in HOW much further it went, so it opened up alot of options for me I didn't have before. I decided it was the right time to buy and it just felt right.

1) So first question, does it FEEL right to you, or you just think you are doing it to please other people?

2) My other question is, you say you are getting social pressure, where is that coming from? Your parents? Friends? Significant other? From yourself?

Best rule in life that sounds like a cliche but which rings true is F whatever everybody else thinks and do what makes YOU happy. I got people telling me to buy a house for years, because prices couldn't get any better, but I knew what time it was thanks to forums like this.

I got paid the biggest compliment from one of the same people that used to encourage me to buy, when one of them said, "I know now that icey bought that the bottom must be in."

It's like the girl who turns 30 and now her entire family is on her case to get married, so she finds some guy she thinks is "just okay," and latches on, and ends up not being happy because she made a decision to please other people. In fact I know of another case like that right now. Not offense to any females here I just see the girls always being pressured, for some reason guys never get that same pressure and we get a free pass like it's cute or something.

Or you could buy MLPL, BDCL, and MORL and collect fat dividends son. BROTHER GETS PAID LOL

"F IT WE'LL DO IT LIVE!"

 

[Cklein]

So what did you buy?
I am debating among

Nobuy, quail hill, stonegate, lambert ranch, and even the San Marino in Woodbury

Never own a house before, a little bit overwhelming and confusing.

If I told you I made much more than that, you must be thinking, this guy is bragging, 

cklein I was in your situation last year, well without the 50K per month good lawd son (yes jealous). I had just broken up with a very long time girlfriend so I wasn't sure whether to keep renting, move to a new geographic location, or buy something. Even though it was a tough breakup, the good news was that I was in full control of what I wanted to do now so the decisions were 100% mine, and so I enjoyed the freedom.

I looked at the numbers and contacted USC (he has the skills), and told him I was at a fork in the road, and I wanted to see what was out there and what my money could buy. I wasn't surprised that my money went much further than it did in 2006, when I had first looked, but was surprised in HOW much further it went, so it opened up alot of options for me I didn't have before. I decided it was the right time to buy and it just felt right.

1) So first question, does it FEEL right to you, or you just think you are doing it to please other people?

2) My other question is, you say you are getting social pressure, where is that coming from? Your parents? Friends? Significant other? From yourself?

Best rule in life that sounds like a cliche but which rings true is F whatever everybody else thinks and do what makes YOU happy. I got people telling me to buy a house for years, because prices couldn't get any better, but I knew what time it was thanks to forums like this.

I got paid the biggest compliment from one of the same people that used to encourage me to buy, when one of them said, "I know now that icey bought that the bottom must be in."

It's like the girl who turns 30 and now her entire family is on her case to get married, so she finds some guy she thinks is "just okay," and latches on, and ends up not being happy because she made a decision to please other people. In fact I know of another case like that right now. Not offense to any females here I just see the girls always being pressured, for some reason guys never get that same pressure and we get a free pass like it's cute or something.

Or you could buy MLPL, BDCL, and MORL and collect fat dividends son. BROTHER GETS PAID LOL

"F IT WE'LL DO IT LIVE!"

 

[irvinehomeowner]

Quail HIll... nuff said.

 

[icey]

So what did you buy?
I am debating among

Nobuy, quail hill, stonegate, lambert ranch, and even the San Marino in Woodbury

Never own a house before, a little bit overwhelming and confusing.

If I told you I made much more than that, you must be thinking, this guy is bragging, 

cklein I was in your situation last year, well without the 50K per month good lawd son (yes jealous). I had just broken up with a very long time girlfriend so I wasn't sure whether to keep renting, move to a new geographic location, or buy something. Even though it was a tough breakup, the good news was that I was in full control of what I wanted to do now so the decisions were 100% mine, and so I enjoyed the freedom.

I looked at the numbers and contacted USC (he has the skills), and told him I was at a fork in the road, and I wanted to see what was out there and what my money could buy. I wasn't surprised that my money went much further than it did in 2006, when I had first looked, but was surprised in HOW much further it went, so it opened up alot of options for me I didn't have before. I decided it was the right time to buy and it just felt right.

1) So first question, does it FEEL right to you, or you just think you are doing it to please other people?

2) My other question is, you say you are getting social pressure, where is that coming from? Your parents? Friends? Significant other? From yourself?

Best rule in life that sounds like a cliche but which rings true is F whatever everybody else thinks and do what makes YOU happy. I got people telling me to buy a house for years, because prices couldn't get any better, but I knew what time it was thanks to forums like this.

I got paid the biggest compliment from one of the same people that used to encourage me to buy, when one of them said, "I know now that icey bought that the bottom must be in."

It's like the girl who turns 30 and now her entire family is on her case to get married, so she finds some guy she thinks is "just okay," and latches on, and ends up not being happy because she made a decision to please other people. In fact I know of another case like that right now. Not offense to any females here I just see the girls always being pressured, for some reason guys never get that same pressure and we get a free pass like it's cute or something.

Or you could buy MLPL, BDCL, and MORL and collect fat dividends son. BROTHER GETS PAID LOL

"F IT WE'LL DO IT LIVE!"

I actually bought a detached condo in Aliso. I'm not in your league in terms of earnings and net worth but pretty proud of my purchase, and it was timed perfectly. I mean when you look at the price chart it literally is at the very bottom when I bought. But like I said I waited FOREVER so it was a ton of patience to get there.

I was telling my neighbors how lucky I was to get in when in did but I guess I made a bad social mistake because it came across as bragging because the wifey was quick to inform me that someone around the corner had been foreclosed on so at that point I felt like the a-hole on the block.

As far as your past earnings go, I am happy for you, people that make good earnings are those we should try to emulate, not to hate on because hating gets people nowhere.

If people want to hate on me I will say the following - I think I bring a stabilizing effect on everyone around me on a metaphysical level and THAT sounds like bragging but I think it's true, I sort of act like an anchor wherever I go although am quick to put other people ahead of myself with alot of things so often drain myself trying to make people happy which is why I wanted to know where your social pressure was coming from as I was trying to relate.

 

[homer_simpson]

Quail Hill like what IHO said is nice or we could be neighbors in one of the hoods you mentioned 

 

[Cklein]

I like quail hill too.

Not too many for sale now. Even the condos, the floor plan is rather odd too me. Maybe I have seen too much IP plans.

Quail HIll... nuff said.