Best of three worlds

[roundcorners]

Don't tell the wife this Saturday I'm thinking about this option but BK really got me thinking about having my cake and eating it too. How do we combine what we love about the cities we want to live in? We always loved Long Beach, it hold great memories and great value, the lots, no MR, hoa, character and it's closer to my mom's in Torrance; yet we love the convenience, comfort, newness and friends of Irvine. We can't possible buy in both cities like BK, can we? I still have to run some numbers, but for the price of buying our ideal property in Irvine or Long Beach, what if we were to be a little creative and?

Keep renting in Irvine:
Small 1-Bedroom IAC apt; condo or even just rent 1-Room
http://orangecounty.craigslist.org/roo/1568113638.html
http://orangecounty.craigslist.org/roo/1567128017.html
http://orangecounty.craigslist.org/roo/1561833826.html

Renting even for something as small as a room means we get to go to Irvine Schools. The one thing good about FCB is that there are ALWAYS plenty of rooms for rent. FCB are always looking to maximize cash flow, plus once they get to know you, they might just be an extended family. In Asia, everyone is your Uncle or Auntie. Now we are looking for full kitchen/living room usage. It will be tough to spend the night all together as a family in ONE room, so two rooms might have to do, but in conjunction to renting a room, we also?


Buy in Long Beach
You can't go wrong with buying a lot over 4000-6000 sq ft in prime Belmont Shore. The point is to buy the largest lot on prime land with the least amount of cash possible. It doesn't really matter what the house looks like. We can take our time remodeling, demolishing the house and we are there on the weekend enjoying the beach and breeze. It should be livable but again, not really necessary. With such a huge lot, we can take ANY favorite Irvine floor-plan and eventually move it to the LBC. The schools are also great.
http://www.redfin.com/CA/Long-Beach/249-Ximeno-Ave-90803/home/7600737
http://www.redfin.com/CA/Long-Beach/3327-E-Vista-St-90803/home/7603367


Lastly invest the rest in the Inland Empire
With any cash left over we put $20,000 down and buy a positive cash flow property. The really cool part of all of this is that I do work in all three locations; Irvine, LA/LBC & the IE.
http://www.redfin.com/CA/Riverside/12880-Magnolia-Ave-92503/unit-4/home/6337324
http://www.redfin.com/CA/Perris/1276-Autumnwood-Ln-92571/home/5170625

 

[roundcorners]

No love, huh... <!-- s --<!-- s -->

If I was say a single parent, it blows me away that I can pay about $600 a month, which is about what some pay for HOA, Maintenance alone and we be neighbors, our kids play together and go to the same school same amenities... and depending on the landlord and other roommates,, you just might have access to a bigger house...!

 

[graceomalley]

By UCI you can rent a den 8x9 for $300/month out of an "8" room house and obtain a legal use of the address to attend UNI. Many older homes have large bedrooms that have been subdivided into smaller bedrooms for students.

Long Beach is great and I almost bought in Belmont Heights many years ago. Access to Torrance via Vincent Thomas Bridge.

PV and Torrance were places of the early Chinese migration. Interestingly once they settled in PV and South Torrance they rarely move again just like San Marino.

 

[irvinehomeowner]

Palos Verdes is like the Turtle [insert name here] of the South Bay.

So, you would live in Long Beach, commute to and commune in Irvine and make the IE help pay for this lifestyle?

Not sure if the numbers work but if you could do it and you don't mind living in the LA/OC elbow... go for it.

 

[zubs]

PV takes 30 minutes to get from and to a freeway. I hate that place.