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Updated over 6 years ago,
Follow your heart or the $$
My bf and I are looking for a change- always had a craving to move to another state. Our ultimate goal is to be financially free, accumulating multi family properties that generate income for us to live off of eventually. We are 27, live together with his parents, no debt, we have 60k in savings, and our older cars are paid off too.
I’ve been at my corporate job for four years, moving up every year and currently manage my department. My bf and I are conflicted as we were juggling moving to the Bay Area for my job’s headquarters- but they actually might not be able to help with relocating... While the Bay Area is obviously super expensive, we have also always dreamed to live in California we have gone several times for my job and fell in love. We have previously contemplated Austin (polar opposites with housing prices).
Do we follow my job or do we quit everything and move to Austin? Currently living in NJ - 15 mins from NYC but are over this state.
We are extremely frugal, so the thought of paying $2,000 rent for SF makes me sick but I will still have my job and it’s definitely somewhere we would love to live. Our opportunity to buy is very thin which definitely sucks.
On the other hand, we also liked Austin a lot and we would be able to rent for a fraction of San Fran AND have great opportunity to buy. We don’t make crazy salaries by any means- around $130,000 combined income so we would be able to find jobs similar or a bit less which is fine.
What do you suggest to young wanna-be investors although I feel like I know the answer.....