Toyota moving to Texas

[panda]

Eyephone,
The HOPE scholarship is not income based from my knowledge, but the rules and requirements have been changing over time. One guy I know makes a salary of $120k and his son just got accepted to Purdue University in West Lafayette. He lives in Chicago, therefore he is paying out-of-state tuition and he did not get any financial aid or grant what so ever with his income. One of my VIP investment clients' son recently graduated from Georgia Tech. I know he makes over $200,000/year as a VP in a mid size Japanese Firm in Duluth. He told me he did not have a Education 529 IRA plan, but his out of pocket cost for 4 years just for room&board, books, and expenses for his son was just shy of $50,000. Tuition was paid in full by the state. He is now in his mid 50s and he is all set to retire in couple of years.

The Zen Miller Scholarship requires either a 3.5 or 3.7 GPA which comes with a higher subsidy than the HOPE which only requires a 3.0 GPA. These days Berkeley and UCLA has an acceptance rate of 15% which is as difficult to get into as an Ivy. I look at the college tuition the same way as I evaluate any investment opportunities. I want to see what my ROI looks like.

Here is some information on the HOPE scholarship.https://secure.gacollege411.org/Fin...rgia_s_HOPE_Scholarship_Program_Overview.aspx

Here is the best ROI colleges: Tech #3, Berkeley #8, and UCSD is #12http://www.bestcolleges.com/features/best-roi-colleges/

 

[momopi]

Are you moving to Dallas?

No.  Too many people.

I'm not a hermit, but I consider high population density as a liability.

So what's going to happen?

At this time, I do not believe the Irvine office will close.  However, if it comes to that and I'm unable to find another job quickly, I can move to my house in Temecula for a while.  The mortgage is $380/month, jogging distance to the vinyards and I can keep 2 chickens in my yard/garden.  Short drive to the ~890 yard shooting range at Pala Indian Reservation.

How did you get a $380 month mortgage? You bought back in the day?

No, I bought that SFR in 2012.  RE in Riverside county crash hard in down cycle, $300k house can drop to $100k.  Back then I saw SFR in south riverside county for $85k and Sacramento for $65k.

It's a little 2 bed 2 bath SFR on ~7000 sq ft lot with 2 car garage and drive way.  Had minor termite damage and seller split the repair cost.  I think I paid around $98k for the house.  Backs to a park/trail.

However, if anyone is considering buying a house there, I would suggest buying one closer to the corona metro link station (or another station). Traffic is bad on the I-15, but if you lived close to the metrolnk station you could take the train to work in LA or OC.

 

[eyephone]

Are you moving to Dallas?

No.  Too many people.

I'm not a hermit, but I consider high population density as a liability.

So what's going to happen?

At this time, I do not believe the Irvine office will close.  However, if it comes to that and I'm unable to find another job quickly, I can move to my house in Temecula for a while.  The mortgage is $380/month, jogging distance to the vinyards and I can keep 2 chickens in my yard/garden.  Short drive to the ~890 yard shooting range at Pala Indian Reservation.

How did you get a $380 month mortgage? You bought back in the day?

No, I bought that SFR in 2012.  RE in Riverside county crash hard in down cycle, $300k house can drop to $100k.  Back then I saw SFR in south riverside county for $85k and Sacramento for $65k.

It's a little 2 bed 2 bath SFR on ~7000 sq ft lot with 2 car garage and drive way.  Had minor termite damage and seller split the repair cost.  I think I paid around $98k for the house.  Backs to a park/trail.

However, if anyone is considering buying a house there, I would suggest buying one closer to the corona metro link station (or another station). Traffic is bad on the I-15, but if you lived close to the metrolnk station you could take the train to work in LA or OC.

Metrolink is over priced, and the last metro link train leaving la to OC is 6:30. It kinda forces you to get the metro monthly pass so you can take the Amtrak train.

 

[eyephone]

Are you moving to Dallas?

No.  Too many people.

I'm not a hermit, but I consider high population density as a liability.

So what's going to happen?

At this time, I do not believe the Irvine office will close.  However, if it comes to that and I'm unable to find another job quickly, I can move to my house in Temecula for a while.  The mortgage is $380/month, jogging distance to the vinyards and I can keep 2 chickens in my yard/garden.  Short drive to the ~890 yard shooting range at Pala Indian Reservation.

How did you get a $380 month mortgage? You bought back in the day?

No, I bought that SFR in 2012.  RE in Riverside county crash hard in down cycle, $300k house can drop to $100k.  Back then I saw SFR in south riverside county for $85k and Sacramento for $65k.

It's a little 2 bed 2 bath SFR on ~7000 sq ft lot with 2 car garage and drive way.  Had minor termite damage and seller split the repair cost.  I think I paid around $98k for the house.  Backs to a park/trail.

However, if anyone is considering buying a house there, I would suggest buying one closer to the corona metro link station (or another station). Traffic is bad on the I-15, but if you lived close to the metrolnk station you could take the train to work in LA or OC.

So you have another house in Sacramento?

 

[panda]

I've always known of momopi as the food expert as he seemed to always contribute a lot on the food section on the old IHB site, but he is very smart and knowledgeable real estate investor who also owns income properties himself in California. I have known momopi online for the past 8 years thru the old Irvine housing blog.

For those you guys interested in keeping your investments close to home, I would definitely seek his advice. He is sharp guy and he would be a very good resource.

 

[momopi]

If you check metro link web site for trains running from north corona main station to Irvine station, you will find 4-5 trains in morning and 4-5 trains in afternoon.  Commuting by train to work in Irvine (1 HR each way) is feasible.  Houses in Corona are much cheaper than Irvine, Mike Raahauges range local, ~15 miles to ranch 99 in chino hills.

Hmm.  In retrospect maybe I should have invested in Corona instead of Murrieta and Temecula.  If you lived in temecula and had to drive to corona station to take train to Irvine, the commuting will be like 2 hours each way.

I went to look at RE in Oakland, Sacramento, and Rancho Cordova few years back.  My aunt is from Brazil and her brother is a slumlord in Oakland.  Cheap RE but you have to make sure you did not buy on wrong side of street and need to collect rent in cash monthly. While we were looking at a house, a gentlemen was hopping the fence from across the street and accidentally dropped a bag of crack from his socks. He politely apologized, picked up his crack and continued on his merry way.  NEXT.

Drove to Sacramento and meet up with an internet friend who invests there.  Cheap SFR's (back then), fix it up and rent for 850/month. Neighborhood run down with boarded up homes and businesses. Lots of homeless living under overpass and in parks next to river fishing for lunch.  Was tempted to pack a fishing rod and join them.  NEXT.

Drove to Rancho Cordova and found nice suburbs and local Korean community.  I think there's a couple Korean markets there too. Went to inspect a SFR that my doctor was interested in.  Did not invest there due to distance, but would definitely consider taking a closer look again in future.

 

[eyephone]

If you check metro link web site for trains running from north corona main station to Irvine station, you will find 4-5 trains in morning and 4-5 trains in afternoon.  Commuting by train to work in Irvine (1 HR each way) is feasible.  Houses in Corona are much cheaper than Irvine, Mike Raahauges range local, ~15 miles to ranch 99 in chino hills.

I was talking about Metrolink la downtown to Irvine (OC)


Seems like mail theft is common in Corona.
http://abc7.com/news/mail-theft-in-corona-leads-to-delivery-shutdown/1206887/
http://m.pe.com/articles/mail-791504-stolen-arrested.html

 

[momopi]

I'm in the Cerritos area and the train schedule to Irvine sucks from Norwalk/Santa Fe springs station.

As many people buy from Amazon instead of local shops, mail/package theft will become a bigger problem. I paid for PO box at UPS store and have all my important mail sent there.  They also sign and hold my packages.

At one rental house in Chino, thieves actually stole the entire metal HOA mail box that was bolted into concrete pad.  I should take a picture and post it here.

 

[eyephone]

I'm in the Cerritos area and the train schedule to Irvine sucks from Norwalk/Santa Fe springs station.

As many people buy from Amazon instead of local shops, mail/package theft will become a bigger problem. I paid for PO box at UPS store and have all my important mail sent there.  They also sign and hold my packages.

How much does it cost for a po box? (I'm too lazy to check)

 

[momopi]

I think I pay about $20/month.  There are cheaper alternatives but too lazy to change address on so many stuff for my entire family (including parents).

 

[eyephone]

I think I pay about $20/month.  There are cheaper alternatives but too lazy to change address on so many stuff for my entire family (including parents).

I forgot you have rentals, so the po box is ideal.

 

[morekaos]

We pay high taxes to fund the social programs in California.
The high speed train is a joke.

Forward thinking is such a terrible thing...high speed train is awesome.

how can it be awesome when it's sharing track?
The hyper loop is awesome.

Do you work for the city or state? (Your answers are far from reality)

I should just start a new thread for this because I can see where this is going to go but here it goes..

If you don't think this project is doomed to follow another recent massive public works project into the black hole of finance you really do live in Elisium..

observe...

California High Speed Rail Costs Soar Again

SACRAMENTO -- While much of the squabbling over California's high-speed rail project has focused on its huge construction price tag, the cost to taxpayers just to plan the bullet train is also soaring.

California rail leaders said Tuesday it will cost an extra $97 million in office and field work to design the rail line, which has famously seen its construction cost double to $69 billion since voters approved it five years ago. The extra state and federal funds set aside for planning will wind up in the pockets of private consulting firms, including some that earn billions of dollars in annual revenue.

http://www.huffingtonpost.com/2013/04/03/california-high-speed-rai_n_3005001.html

Much like...

New Bay Bridge cost climb: Follow the money

August 1997: Standard concrete viaduct with a cable-type suspension span but no bike lane or shoulders. (Cost $1.3 billion)

May 2013: Inflation and delays associated with the complexity of fabricating and installing the massive steel decks, coupled with broken steel anchor rods in seismic stabilizers, continue to push the cost projections up, although not at the earlier rate. (Cost $6.4 billion)

http://www.mercurynews.com/news/ci_23833906/new-bay-bridge-cost-climb-follow-money

Only 10 years late and 400% over projected cost.  probably in line with most California public works projects. What do you think this choo choo will eventually cost? It is gonna be awesome...awesomely painful!

Not that my faith in Cali politicians could get any lower but you think we should look into filling that $42 Billion dollar funding gap now? This is Enron-esque in its hubris and stupidity but is uniquely Californian.

Lawmakers seek to tighten bullet train oversight, suggesting growing concern about the project

The analyst's office had recommended that the rail authority provide more information about how a $43-billion gap in funding the construction would be closed.

Rail authority chief Dan Richard has said repeatedly in recent weeks that it should not be necessary to identify where all of the money will come from, noting that existing funds were surprises and that future unexpected funding should not be discounted.

Patterson said that strategy is not likely to assuage the Legislature


http://www.latimes.com/local/california/la-me-rail-bill-20160419-story.html

 

[The Motor Court Company]

Jamba Juice HQ moving to TX
http://www.latimes.com/business/la-fi-jamba-juice-20160506-snap-story.html

 

[eyephone]

Jamba Juice HQ moving to TX
http://www.latimes.com/business/la-fi-jamba-juice-20160506-snap-story.html

Good find. I expect more companies like this to move. I was thinking about it, and there's not a good reason for them to stay in California. In my opinion, it's a typical retail store front operations.

What does the CA legislature do about this? Nothing
I think we need a change.

 

[morekaos]

Let's make California Great Again!!!

 

[acpme]

Median income in Torrance: 70K
Median home value: 700K

Median income in Plano: 90K
Median home value: 300K

I'd probably do the move. The northern suburbs of Dallas are arguably a lot nicer than South Bay of LA unless you're living in PV.

 

[panda]

Both the Denver and Dallas Housing market is on fire making new highs. Flower Mound is also a very nice area. Did you know that property taxes are around 3% in Plano?

 

[irvinehomeowner]

Still too hot.

 

[usctrojancpa]

Still too hot.

And too humid (plus hail plus tornadoes).  If I move out of CA, it'll be most likely be to Las Vegas. 

 

[acpme]

Both the Denver and Dallas Housing market is on fire making new highs. Flower Mound is also a very nice area. Did you know that property taxes are around 3% in Plano?

But no state income tax and overall lower costs of housing/living.

Will say that Prop 13 is nice and makes it hard to ever consider selling a property in CA.

Flower Mound and the lakeside neighborhoods in the far northwest of Dallas are some of the wealthiest in North TX, but a bit far from employment centers. Plano is in the sweet spot of a massive shift in corporate relos from CA, IL, and other high cost states.