Author Topic: Where the market is - Buyer Offers  (Read 86757 times)

Offline best_potsticker_in_town

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Re: Where the market is - Buyer Offers
« on: March 25, 2021, 10:38:17 PM »
I'm curious to know what type of jobs does everyone here have where you can afford a multi-million dollar home.

It's family $ and overseas China FCB $ ...   I'm sure there are families where both earners are doctors, lawyers, small business owners, in finance (PMs, senior mgmt), engineers/programmers, or a combination of any of those.  I'm sure there are niche jobs that make a lot of $ too.   I'm poor thinking about it now.

I remember someone who submitted their app on our rental, they made ~$170k as mid lvl mgmt at the Taco Bell, that's just one of them.
The majority of buyers are age 22-40. I would love to see metrics of income for OC. The nationwide metrics specify that households are earning 100-113k. But that doesn't seem realistic with California prices.

Im 25 and just hit 6 figures at work, but still finding it impossible to find a property. Im single (so not dual income), maybe thats why? It feels like I'm going in circles; can't find a partner while living with my parents, but can't afford a reasonable house without a dual income  :-\

I was there before. Timing is everything and your time will come.

I happened to buy my first property at 25. It was a Bay Area condo that was built in 2010 - they were unable to sell the units so they rented them out. When the market got healthier, they started to sell the condos as leases expired. I was able to buy a 2-bd unit for $495,000. Lived there for a few years - unable to find a compatible partner and just living the ups/downs of single life. I eventually sold the unit and flipped a nice profit. Moved down to Irvine and bought a brand new condo in Eastwood. Dated a bit and was married within 2 years and had a kid a year later. With our dual income, we were able to buy a nice place here in Irvine that we both love.

My suggestions:

1. Save your money and don't be afraid to take safe risks. If you've saved up 20% - I say go for it and buy a place. If you haven't hit that threshold, save a little more. Get a cheaper condo here in OC and build some equity. Maybe something like this: https://www.redfin.com/CA/Tustin/1722-Mitchell-Ave-92780/unit-179/home/4617570
2. Invest in yourself - whether it's educational courses, self-improvement books, living a healthier lifestyle...whatever it is, utilize this time to groom healthy habits that will help you sustain yourself once you do find a partner and settle down.
3. Set short and long-term goals and milestones in your career and personal life and work towards those. Keep a journal - it's often the journey that's more enjoyable than the actual reward.

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