Current Events > Soo in order for me to buy a home in CA, i need to come up with $1M in cash....

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21WIVES_CHILL
05/17/20 5:41:22 PM
#1:


I've talked to several real estate agents and they say most homebuyers here have $1M in cash on hand and that I cannot compete with outbidding them unless I have that minimum amount.....

Maybe I should just rent but then itd be like throwing money away.
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Rebel_Patriot
05/17/20 5:45:03 PM
#2:


I doubt you mean CA as in the state you must mean in a few very high end communities in CA. If not, what a shit hole.

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CoDWarzone
05/17/20 5:46:04 PM
#3:


Parts in Cali are expensive af
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chrono625
05/17/20 5:48:20 PM
#4:


21WIVES_CHILL posted...
I've talked to several real estate agents and they say most homebuyers here have $1M in cash on hand and that I cannot compete with outbidding them unless I have that minimum amount.....

Maybe I should just rent but then itd be like throwing money away.

then youre looking in areas you shouldnt be looking in.


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Colorahdo
05/17/20 5:49:22 PM
#5:


renting is not throwing money away. You don't have to worry about maintenance, it's really easy to move, some of your utilities are free, if the place burns down it's not your problem... what's your time and peace of mind worth?

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chrono625
05/17/20 5:50:49 PM
#6:


Colorahdo posted...
renting is not throwing money away. You don't have to worry about maintenance, it's really easy to move, some of your utilities are free, if the place burns down it's not your problem... what's your time and peace of mind worth?

I dont disagree with renting if you want but, yeah you get zero return on on what you spend on rent.

at least as a home owner you can always sell. As long as you dont foreclose.

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Hexenherz
05/17/20 5:51:08 PM
#7:


chrono625 posted...
I dont disagree with renting if you want but, yeah you get zero return on on what you spend on rent.

at least as a home owner you can always sell. As long as you dont foreclose.
Or save up, buy a nicer house and rent the first one.

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Doom_Art
05/17/20 5:51:17 PM
#8:


chrono625 posted...
then youre looking in areas you shouldnt be looking in.
this

I'm not gonna go to the posh housing district ou in the outskirts of town and whine that I can't afford a home there

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#9
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SauI_Goodman
05/17/20 5:52:50 PM
#10:


why buy a beach property in cali for 10 million when you can move to belize and get one for $150.000

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CoDWarzone
05/17/20 5:53:50 PM
#11:


ClunkerSlim posted...
Oh yeah, only "parts?" LoL. Fuck buying a house on the west coast. Even home prices in Oregon are ridiculous.
Oh I only know about Cali.

There's a few small towns that are cheap af to live in but the pay isn't good and you'd have to commute.
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MutantJohn
05/17/20 5:54:17 PM
#12:


A million in cash must mean the Bay Area and/or Los Angeles area. Areas outside of those (and of course Napa), are much more "reasonable".

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Yadoken
05/17/20 6:07:15 PM
#13:


My buddy lives in Los Gatos, apparently 2-3 times a year, he gets cold offers to buy his house, cash in full (1.8+m) . Must be annoying having to deal with that kind of crap.

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CharlesBronson
05/17/20 6:08:41 PM
#14:


chrono625 posted...
I dont disagree with renting if you want but, yeah you get zero return on on what you spend on rent.

at least as a home owner you can always sell. As long as you dont foreclose.
wrong, you can't force someone to buy it
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chrono625
05/17/20 6:10:19 PM
#15:


CharlesBronson posted...
wrong, you can't force someone to buy it

oh Im sorry. You have the option or ability to sell.

Better?

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bknight
05/17/20 6:11:46 PM
#16:


Meh, try Fresno instead of OC, LA or San Fran.
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CoDWarzone
05/17/20 6:12:30 PM
#17:


bknight posted...
Meh, try Fresno instead of OC, LA or San Fran.
Modesto and Manteca are cheap I heard.
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Hexenherz
05/17/20 6:13:57 PM
#18:


Yeah but who wants to live in Modesto :\

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Cleo_II
05/17/20 6:14:46 PM
#19:


Thats only a little over $45k for you and each of your wives.
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Hexenherz
05/17/20 6:15:58 PM
#20:


/r/theydidthemath

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Ocron83
05/17/20 6:24:59 PM
#21:


What the hell kind of shady people are demanding cash for a house?

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CharlesBronson
05/18/20 9:23:34 AM
#22:


chrono625 posted...
oh Im sorry. You have the option or ability to sell.

Better?
No, it's not better. You are still implying the asset can be sold when in fact it might not be able to be, thank you.
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Balrog0
05/18/20 9:29:57 AM
#23:


Yadoken posted...
My buddy lives in Los Gatos, apparently 2-3 times a year, he gets cold offers to buy his house, cash in full (1.8+m) . Must be annoying having to deal with that kind of crap.

Lmfao oh yeah such a hassle sitting on inflated land prices and paying basically no property taxes, regularly getting offers that set him up to retire without trying. How does he survive

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chrono625
05/18/20 9:34:21 AM
#24:


CharlesBronson posted...
No, it's not better. You are still implying the asset can be sold when in fact it might not be able to be, thank you.

oh so youre just some ass troll.

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CharlesBronson
05/18/20 9:42:52 AM
#25:


chrono625 posted...
oh so youre just some ass troll.
Excuse me? Enjoy paying to send other people's kids to school, thanks.
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Hexenherz
05/18/20 1:22:05 PM
#26:


CharlesBronson posted...
Excuse me? Enjoy paying to send other people's kids to school, thanks.
Are you saying you don't pay taxes or something lol.

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Solid Snake07
05/19/20 9:44:29 PM
#27:


That's only parts of California.

And in pretty much all of those parts it's a lot cheaper to rent. Real estate in those areas are usually bought and rented out at a loss with the expectation the value of the property will appreciate and can be turned for a profit later.

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chrono625
05/20/20 6:49:47 AM
#28:


CharlesBronson posted...
Excuse me? Enjoy paying to send other people's kids to school, thanks.

what the fuck are you even talking about?

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Billy__Beane
05/20/20 7:13:11 AM
#29:


Live in Sacramento
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Veggeta X
05/20/20 7:21:26 AM
#30:


I have a relative who lives in the burbs of San Diego. They make good money but they don't have a million dollars at hand. Something doesn't make sense here.

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RenescoStCewl
05/20/20 7:29:00 AM
#31:


CharlesBronson posted...
Excuse me? Enjoy paying to send other people's kids to school, thanks.
Lol dude why are you mad that people buy houses. This has to be the weirdest thing I've seen someone mad about.

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Antifar
05/20/20 8:00:01 AM
#32:


Sending other people's kids to school is good! I want them to go to school!
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VTBM
05/20/20 8:11:10 AM
#33:


They are lying to you/you are looking in the wrong areas.

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Hexenherz
05/20/20 8:50:16 AM
#34:


Veggeta X posted...
I have a relative who lives in the burbs of San Diego. They make good money but they don't have a million dollars at hand. Something doesn't make sense here.
When did they buy there though?

I don't know if it's *common* but it's not rare for developments in California to spring up in really sparsely populated areas and the buy in price is stupid low for really nice properties, and then after several years the area starts getting developed more and more and you wind up with a fairly expensive house.

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I4NRulez
05/20/20 8:52:14 AM
#35:


Houses around me are about 300k right now. Now the quality for your dollar would go further elsewhere though.

Me and My gf are probably going to move out of CA when we're ready to buy

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Unnecessary
05/20/20 8:59:12 AM
#36:


Just get an RV and live on the street curb of higher end neighborhoods.

Besides, home owners and business owners are Cali's cattle to slaughter anyway. You have more power and autonomy as a vagabond

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