All Forum Posts by: Sam Dogen

no problem @Anne Chiramberro.  What did you end up doing? I decided to take the offer and simplify my life. I'll be running a post about it on my site within the next 30 days. Hope you stop by. 

@Manolo D.Cool. Yeah, I've been building an online media business for the past eight years and it's been a lot of fun. In fact, it's way more fun than building a rental property portfolio. And much more lucrative as well.

Howdy Folks,

So I've had this realization now that I've turned 40 and owned property for the past 15 years in San Francisco: Buy Utility, Rent Luxury.

I have NO desire to own multiple rental properties in an expensive city like SF, NYC, LA, SD, etc because it's a hassle, and also because the rent related to the selling price is so low! You can sell your rental property in a coastal city market like SF for 25-30X gross rent now. Meanwhile, you can reinvest the proceeds or invest new money in Midwest and Southern properties at under 10X annual gross rent.

@Josh McCullough Definitely. If I was hurting for income, I would lower my price to increase demand for my services. I would undercut my competition to gain more clients. Seems logical. Would you not? 

@Chris May Cool.  Nothing wrong with enjoying the good life in your 20s.

 That makes more sense if you've put in $150,000 and your time to see a 20% plus gain.  

 The question is, what are you doing now? Hold or sell?

@Chris May - Are you saying duplexes in Rockridge are now 20% - 30% higher than they were 8 months ago? I found that hard to believe. Can you provide a comp (not your place for privacy reasons obviously) so I can take a look? What was the price point in November and what is it now?

What were your reasons for not buying between 2009-2010?

Thx

To raise a family of 3 total and have both parents not have to work, I'd say about $20,000 - $25,000 net for places like SF and NYC. You can still save for a rainy day if something happens and pay crazy tuition if necessary. 

@J scott  indeed, one of the key messages I have is that a lot of people make a lot more money than people realize. $200,000 plus janitors, $150,000.22-year-olds, yourself who makes a lot more than the janitor, bloggers who make multiple six figures, venture capitalist, private equity guys, etc. The reason why prices have gone up so much is because people can afford to pay the prices. Otherwise, prices would go down.

@J Scott Still means he makes $270k, and his elevator technician friend makes $280k.

So many private and public employees make six figures here.

I'm de-risking though.

Wish Amit and others would come back.

@Amit M. Yeah, the online media business is multiple times more lucrative than RE. I would highlight some posts here, but don't think I'm allowed. Google "blogging for a living financial samurai" for insights. And "why blogging is the best business in the world."

Haven't sold the Marina house yet, but maybe end of this week.

What do you do for a living?