Get rich quick career

[RXDOC1986]

My friend works as a Director of Pharmacy at a small hospital and pick up shifts at a different one on the weekend. He makes ~280k a year. All under the sunny warm southern California weather.

Yeh, but isn't that like "Canadian" dollars? $280K in So.Cal is kinda like $180K here in the South. That is some expensive "weather"!

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[RN2RPh]

Yeh, but isn't that like "Canadian" dollars? $280K in So.Cal is kinda like $180K here in the South. That is some expensive "weather"!

Of course it is expensive not to deal with tornadoes or hurricanes every year lol

 

[projektreverb]

Of course it is expensive not to deal with tornadoes or hurricanes every year lol

But I do have to deal with the high COL of Southern California. Currently looking to get how of a high COL area (not SoCal lol), gets old fast.

 

[libra08]

But I do have to deal with the high COL of Southern California. Currently looking to get how of a high COL area (not SoCal lol), gets old fast.

SoCal is not too bad just as long as you get your housing in order. California property tax is set at about 1% of purchase price and can only increase by 2% max per year. The longer you live in the house, the cheaper the property tax because inflation is usually more than 2%. My neighbor is paying only 50% of my property tax because she has been living here for years. As a bonus, if your children inherit the house and make it their primary residence then they would also inherit the low property tax.

 

[RXDOC1986]

Of course it is expensive not to deal with tornadoes or hurricanes every year lol

Metro Atlanta: No tornadoes (well, hardly any), no hurricanes, and most importantly NO wild fires!!! lol
Also, no rolling blackouts and no $6 gasoline (just paid $3.15/gallon)
Metropolitan population of 5.8 million, LOWEST 1/3 of all states in cost of living.
Home prices, very reasonable, until the influx of East Coast and West Coast families, within the last 5 years.
Back in 2008, you could buy a 7000 sf mini-mansion with 6BR and 8BA, pool, hot tub, in a gated community, for $850 K. (ask me how I know)
Well now it's about $1.5 million. I think in LA/OC you can get a starter / fixer upper home 3BR/2BA home for that price.

 

[RXDOC1986]

SoCal is not too bad just as long as you get your housing in order. California property tax is set at about 1% of purchase price and can only increase by 2% max per year. The longer you live in the house, the cheaper the property tax because inflation is usually more than 2%. My neighbor is paying only 50% of my property tax because she has been living here for years. As a bonus, if your children inherit the house and make it their primary residence then they would also inherit the low property tax.

We have family in Coto de Caza in OC. The weather cannot be beat, unless you have wildfire smoke that messes with your sunshine.
I am pretty certain, homes are assessed taxes, when the ownership changes. My father-in-law passed away, left a nice home to the kids, the home was reassessed at that time. It was a palatial little home (2000 sf) that was purchased for $850 and worth $2mil after 10 years. The California Tax board will get their pound of flesh, they make the IRS look like the boy scouts. Again, ask me how I know!

 

[libra08]

Fire/smoke is a problem mainly for those who live in the mountain or near one.

Property tax reassessment for a primary residence that is passed on from parents to children (or grandparents to grandchildren) only applies if appreciation is more than $1m (new law). Even when it does, the newly reassessed property tax would still be less vs market value.

 

[RXDOC1986]

Fire/smoke is a problem mainly for those who live in the mountain or near one.

Property tax reassessment for a primary residence that is passed on from parents to children (or grandparents to grandchildren) only applies if appreciation is more than $1m (new law). Even when it does, the newly reassessed property tax would still be less vs market value.

I was there when Trabuca Canyon in OC was burning. How about the fire in Malibu? It could happen anywhere and everywhere.
And what little, fixer upper hasn't appreciated $1million + ? See my example above.
Don't get me wrong, I love visiting the OC. Great weather, beautiful coastline, wonderful people. But I, personally wouldn't want to live there. I did promise my wife, when my youngest leaves for college, I would get her a condo in OC for three months each summer. She absolutely hates the heat and humidity down south.

 

[projektreverb]

Metro Atlanta: No tornadoes (well, hardly any), no hurricanes, and most importantly NO wild fires!!! lol
Also, no rolling blackouts and no $6 gasoline (just paid $3.15/gallon)
Metropolitan population of 5.8 million, LOWEST 1/3 of all states in cost of living.
Home prices, very reasonable, until the influx of East Coast and West Coast families, within the last 5 years.
Back in 2008, you could buy a 7000 sf mini-mansion with 6BR and 8BA, pool, hot tub, in a gated community, for $850 K. (ask me how I know)
Well now it's about $1.5 million. I think in LA/OC you can get a starter / fixer upper home 3BR/2BA home for that price.

I forget you’re in metro Atlanta. I might be moving there soon, I would literally love to do an interview/podcast with you. I feel like me and others would enjoy it. Not kidding.

 

[RxPreceptor]

Metro Atlanta: No tornadoes (well, hardly any), no hurricanes, and most importantly NO wild fires!!! lol
Also, no rolling blackouts and no $6 gasoline (just paid $3.15/gallon)
Metropolitan population of 5.8 million, LOWEST 1/3 of all states in cost of living.
Home prices, very reasonable, until the influx of East Coast and West Coast families, within the last 5 years.
Back in 2008, you could buy a 7000 sf mini-mansion with 6BR and 8BA, pool, hot tub, in a gated community, for $850 K. (ask me how I know)
Well now it's about $1.5 million. I think in LA/OC you can get a starter / fixer upper home 3BR/2BA home for that price.

Lived in metro Atlanta area a solid 12 years…yes it’s highly overlooked area with a very affordable cost of living and plenty of stuff to do (what You young whipper snappers often B! about living in low cost of living, often rural areas). Don’t know about recent housing/real estate trends

 

[libra08]

I was there when Trabuca Canyon in OC was burning. How about the fire in Malibu? It could happen anywhere and everywhere.
And what little, fixer upper hasn't appreciated $1million + ? See my example above.
Don't get me wrong, I love visiting the OC. Great weather, beautiful coastline, wonderful people. But I, personally wouldn't want to live there. I did promise my wife, when my youngest leaves for college, I would get her a condo in OC for three months each summer. She absolutely hates the heat and humidity down south.

Selective sampling…just because there is was a fire when you visited to California doesn’t mean it is everywhere. Malibu fire also started in the mountain. You think fires just start in the middle of the street and spread uncontrollably?

How can houses in California have appreciated $1m since last sold when the current median price of a single family home is just $830 k (not including condos)? Also, people buy and sell their homes all of the times. 10 years is the average time people live in their house before selling.

Again, if it had appreciated more than $1m you would still inherit a much lower property tax vs current property tax, just not as generous

 

[RN2RPh]

Metro Atlanta: No tornadoes (well, hardly any), no hurricanes, and most importantly NO wild fires!!! lol
Also, no rolling blackouts and no $6 gasoline (just paid $3.15/gallon)
Metropolitan population of 5.8 million, LOWEST 1/3 of all states in cost of living.
Home prices, very reasonable, until the influx of East Coast and West Coast families, within the last 5 years.
Back in 2008, you could buy a 7000 sf mini-mansion with 6BR and 8BA, pool, hot tub, in a gated community, for $850 K. (ask me how I know)
Well now it's about $1.5 million. I think in LA/OC you can get a starter / fixer upper home 3BR/2BA home for that price.

True, the COL numbers are in your favor. However, there are other important factors such as cultures, family, communities... and you can't put a price tag on that.

 

[projektreverb]

True, the COL numbers are in your favor. However, there are other important factors such as cultures, family, communities... and you can't put a price tag on that.

Also very true. The only reason I can consider relocating to somewhere like Atlanta is because I have a lot of family there. The financial side is an added bonus. I know many people who stay in high COL areas to stay around their support system. Support system has an intrinsic value.

 

[Splenda88]

Atlanta and its good suburbs are not that cheap guys.

 

[projektreverb]

Atlanta and its good suburbs are not that cheap guys.

I can tell you they are cheaper than comparable areas in Chicago and it’s good suburbs. And don’t forget the property taxes in Illinois are the second highest in the country after NJ.

Edited to add a reference because I have the feeling someone is going to question. California is actually 18th cheapest when you aggregate the whole state. I’m well aware that if you exclude SoCal and the Bay Area it drives the numbers differently. But keep in mind chicago is the only major city in Illinois to drive up Illinois’ number. This is JUST property taxes. Illinois has a high percentage of high earners leaving the state because of *drumroll* taxes. I’ll admit I tilt to the left of the political spectrum but taxes do suck in Illinois. It feels like everything cost something and gets taxed accordingly.

Property Taxes By State: A Breakdown Of The States With The Highest And Lowest Property Taxes In 2023

We list all 50 states from highest to lowest property taxes, and you may be surprised by what you see.

www.forbes.com

 

[Splenda88]

I can tell you they are cheaper than comparable areas in Chicago and it’s good suburbs. And don’t forget the property taxes in Illinois are the second highest in the country after NJ.

Edited to add a reference because I have the feeling someone is going to question. California is actually 18th cheapest when you aggregate the whole state. I’m well aware that if you exclude SoCal and the Bay Area it drives the numbers differently. But keep in mind chicago is the only major city in Illinois to drive up Illinois’ number. This is JUST property taxes. Illinois has a high percentage of high earners leaving the state because of *drumroll* taxes. I’ll admit I tilt to the left of the political spectrum but taxes do suck in Illinois. It feels like everything cost something and gets taxed accordingly.

Property Taxes By State: A Breakdown Of The States With The Highest And Lowest Property Taxes In 2023

We list all 50 states from highest to lowest property taxes, and you may be surprised by what you see.

www.forbes.com

I agree if you compared it to metro in northeast, the west, Chicago, Miami, DC etc... But you have to look at it from the standpoint of the average middle class family (80k-120k household income).

These people can not afford a cookie cutter home (3BR/2BA 1-2 car garage) in a good suburb of Atlanta. I used to live in Atlanta and in fact I am planning to buy something there or Houston next year, and I have not seen anything reasonable for 500-600k in Atlanta or its good suburbs.

 

[projektreverb]

I agree if you compared it to metro in northeast, the west, Chicago, Miami, DC etc... But you have to look at it from the standpoint of the average middle class family (80k-120k household income).

These people can not afford a cookie cutter home (3BR/2BA 1-2 car garage) in a good suburb of Atlanta. I used to live in Atlanta and in fact I am planning to buy something there or Houston next year, and I have not seen anything reasonable for 500-600k in Atlanta or its good suburbs.

Your first point I agree with.

Second part I know someone closing on a 4bed 3 bath 3 car garage in mill creek school district for 455k in middle of October. House was a 2020 build.

 

[Splenda88]

Your first point I agree with.

Second part I know someone closing on a 4bed 3 bath 3 car garage in mill creek school district for 455k in middle of October. House was a 2020 build.

I have been checking Atlanta for 2-3 months right now and I have not seen anything newer for < 600k in a good suburb with good schools.

Hoschton is 1:20 mins from Atlanta. I am talking about 30miles radius from downtown Atlanta (Alpharetta, Johns Creek, Marietta, Sandy Springs etc...).

 

[projektreverb]

I have been checking Atlanta for 2-3 months right now and I have not seen anything newer for < 600k in a good suburb with good schools.

Hoschton is 1:20 mins from Atlanta. I am talking about 30miles radius from downtown Atlanta (Alpharetta, Johns Creek, Marietta, Sandy Springs etc...).

I’ve done Dacula/Hoschton to downtown in 45 minutes. If we’re factoring in traffic Chicago is basically worst. During peak rush with the construction on the Kennedy right now it can take up to 2 hours to drive to ohare from the loop. Normally a 22 minute commute. Chicagoland basically goes from Rockford to NWI. If you want a scope on how large Chicagoland, put in Rockford to Merrillville or Valparaiso Indiana. Even if you draw a line at Schaumburg or Crystal Lake the distances are huge. Drawing a 30 mile circle around Chicago I can guarantee you places comparable to John’s Creek/alpharetta (ie evanston Winnetka etc) are comparably much much higher to live in.

 

[RXDOC1986]

Selective sampling…just because there is was a fire when you visited to California doesn’t mean it is everywhere. Malibu fire also started in the mountain. You think fires just start in the middle of the street and spread uncontrollably?

How can houses in California have appreciated $1m since last sold when the current median price of a single family home is just $830 k (not including condos)? Also, people buy and sell their homes all of the times. 10 years is the average time people live in their house before selling.

Again, if it had appreciated more than $1m you would still inherit a much lower property tax vs current property tax, just not as generous

Hey Libra08:
I am definitely not dissing on California, we have family there from the OC, to Fresno, Bakersfield, and San Fransisco. I would move there in a minute, if I could! I Love California. Most of what I say is lighthearted banter, and if it wasn't for our three adult kids and hopes of future grand kids, my wife and I would move to OC.

 

[RXDOC1986]

I’ve done Dacula/Hoschton to downtown in 45 minutes. If we’re factoring in traffic Chicago is basically worst. During peak rush with the construction on the Kennedy right now it can take up to 2 hours to drive to ohare from the loop. Normally a 22 minute commute. Chicagoland basically goes from Rockford to NWI. If you want a scope on how large Chicagoland, put in Rockford to Merrillville or Valparaiso Indiana. Even if you draw a line at Schaumburg or Crystal Lake the distances are huge. Drawing a 30 mile circle around Chicago I can guarantee you places comparable to John’s Creek/alpharetta (ie evanston Winnetka etc) are comparably much much higher to live in.

To Splenda and Projectverb:
I moved to Atlanta, in 1982 to attend Pharmacy School, from Cincinnati, OH. Been here 41 years, like any other city, we have our strengths and weaknesses. I was here when blacks were "discouraged" from living in various counties (Forsyth and Cherokee) . There was a sign in Forsyth, cautioning black people "Don't let the sun go down on you" Meaning you can work here, but go home later. Oprah actually came down, from Chicago to do some shows in Forsyth County.
As an immigrant, not a WASP, but easily passing as one, I could see the struggle that was the South. All that is behind us now (or is it?)
Atlanta suburbs are (OR used to be) a great place to raise a family. South Atlanta, we have Peachtree City, North Atlanta we have Milton, Alpharetta, and Johns Creek. These areas used to be affordable, with excellent schools. Now, the affordability is gone, you have to move to a Dacula, a Hoschton, or even further out. I have two sons that are now looking for starter homes, and you are correct $500K doesn't buy you much, especially with 7% interest rates. While us senior citizens are experiencing spectacular appreciation in our homes, young people are suffering.

 

[RXDOC1986]

I forget you’re in metro Atlanta. I might be moving there soon, I would literally love to do an interview/podcast with you. I feel like me and others would enjoy it. Not kidding.

Well, I appreciate the sentiment. Now, I got to work on my "get off my lawn" attitude.
Looking forward to seeing you, just LOWER your expectations!!

 

[RXDOC1986]

Lived in metro Atlanta area a solid 12 years…yes it’s highly overlooked area with a very affordable cost of living and plenty of stuff to do (what You young whipper snappers often B! about living in low cost of living, often rural areas). Don’t know about recent housing/real estate trends

Lived in Metro Atlanta for 41 years, and I can safely say, nothing is getting better. Traffic congestion, home affordability, and jobs, ALL trending downward. And surprise, it's not overlooked, anymore.

 

[Splenda88]

To Splenda and Projectverb:
I moved to Atlanta, in 1982 to attend Pharmacy School, from Cincinnati, OH. Been here 41 years, like any other city, we have our strengths and weaknesses. I was here when blacks were "discouraged" from living in various counties (Forsyth and Cherokee) . There was a sign in Forsyth, cautioning black people "Don't let the sun go down on you" Meaning you can work here, but go home later. Oprah actually came down, from Chicago to do some shows in Forsyth County.
As an immigrant, not a WASP, but easily passing as one, I could see the struggle that was the South. All that is behind us now (or is it?)
Atlanta suburbs are (OR used to be) a great place to raise a family. South Atlanta, we have Peachtree City, North Atlanta we have Milton, Alpharetta, and Johns Creek. These areas used to be affordable, with excellent schools. Now, the affordability is gone, you have to move to a Dacula, a Hoschton, or even further out. I have two sons that are now looking for starter homes, and you are correct $500K doesn't buy you much, especially with 7% interest rates. While us senior citizens are experiencing spectacular appreciation in our homes, young people are suffering.

Even now I would tell any black person who lives in Cherokee or Forsyth to be careful.

 

[projektreverb]

To Splenda and Projectverb:
I moved to Atlanta, in 1982 to attend Pharmacy School, from Cincinnati, OH. Been here 41 years, like any other city, we have our strengths and weaknesses. I was here when blacks were "discouraged" from living in various counties (Forsyth and Cherokee) . There was a sign in Forsyth, cautioning black people "Don't let the sun go down on you" Meaning you can work here, but go home later. Oprah actually came down, from Chicago to do some shows in Forsyth County.
As an immigrant, not a WASP, but easily passing as one, I could see the struggle that was the South. All that is behind us now (or is it?)
Atlanta suburbs are (OR used to be) a great place to raise a family. South Atlanta, we have Peachtree City, North Atlanta we have Milton, Alpharetta, and Johns Creek. These areas used to be affordable, with excellent schools. Now, the affordability is gone, you have to move to a Dacula, a Hoschton, or even further out. I have two sons that are now looking for starter homes, and you are correct $500K doesn't buy you much, especially with 7% interest rates. While us senior citizens are experiencing spectacular appreciation in our homes, young people are suffering.

All valid points. As @Splenda88 Said I’d still advise caution as some of those areas still aren’t friendly.

My argument still stands, for a comparable home in Chicago to John’s Creek/Alpharetta you’re looking at twice the prices in GA with the icing of higher taxes (property and all others).

Chicago is unfortunately suffering the same fate of having to move further and further out to be affordable, but the burden of the high state tax rate doesn’t away.

 

[projektreverb]

Even now I would tell any black person who lives in Cherokee or Forsyth to be careful.

Unfortunately true.

 

[projektreverb]

Well, I appreciate the sentiment. Now, I got to work on my "get off my lawn" attitude.
Looking forward to seeing you, just LOWER your expectations!!

Noted! I think me and a lot of others would enjoy soaking all the knowledge in