All Forum Posts by: Manco Snead

I agree with what the first person posted. I've looked into investing with limited funds and it's very difficult, not impossible but difficult. Also, there are always surprises that come up in REI so you always want to have a financial cushion. Some options might be looking at very inexpensive markets like the rural south or partner with someone you trust with experience and money where you could put your 5k into a deal then get a percentage out of it. A good starting place might be to decide exactly what your objectives are then call your bank or (my preference) credit union; tell them exactly what you want to do and ask them what you need to do to get there. A good agent will give you lots of useful information, a bad one won't. So don't hesitate to talk to a few different people.

@Holly Horn

Must be interesting to work with people relocating and hear their reasons for doing so. As I wrote before, even though nobody, myself included, likes an influx of people from out of the area moving into their town (increased market values, more traffic) I can't blame people from places like California for moving somewhere more affordable; I'd do it myself. I wish I was drawn to, say, rural Missouri as real estate is so ridiculously cheap there....but I'm not.

Having grown up in the Bay Area I've seen, as you mentioned, people moving to smaller towns outside the Bay Area for purposes of affordability. But really it often doesn't solve all their problems as they then often commute back to where they moved from for work. So now they're spending more time in that atrocious traffic (main reason I left) and paying more for gas, etc. I don't know how familiar you are with the Bay Area, but all towns connected to it are very expensive.

@Brian Ploszay  Interesting points.   "...to keep up with the growth in population. This artificial scarcity..." What do you mean by artificial scarcity?  You believe there was not the housing scarcity that supposedly has existed?

 I grew up in the Bay Area so saw the whole mess as it unfolded. Much of the Bay Area was once just a nice place with nice weather where the average person could live comfortably enough. Now, as you know, one needs to make very good money to make even a comfortable middle class living...whatever that means anymore. And I am aware that, as you mention, there is a strong job market in CA, but that job market (I'm thinking primarily of tech) is not accessed by or accessible to everyone so it has created alot of haves and have-nots. There has always been money in the Bay Area but it has clearly changed and personally I don't like the wealthy vibe that the Bay Area now has; aside from the unaffordability much of the character has gone away. That said, I do wish I had the foresight to buy when I was very young in CA. Might be able to be done working now.

@Phill Wells    The remote job scenario is a really fascinating one to me and seems that it could be a real game changer in certain areas. I'm thinking of certain small towns that have been kept small by their very limited job opportunities. This scenario changes with telecommuting.

@John Barrett   Thanks for the comments; that was my thought in asking the questions regarding California; how will this affect my market? If the numbers of people moving from California do increase where will they move to? As some have mentioned, Spokane, CDA, Boise. But will smaller communities become attractive as well? If I was a telecommuter I would certainly consider a smaller community; quieter, less expensive, generally safer. I'm just throwing out the speculative questions here, looking down the road.

Most people I know who have moved from California have done so for economic reasons; get a bunch of equity out of your CA home then buy for cash with money left over somewhere less expensive and with less traffic. I am originally from California, though I've never owned real estate there. Here in Spokane there is plenty of vilification towards Californians. And I get it, who wants a huge influx of people from a generally higher paying job market in their town?; increased market values, more traffic. I don't. But I'd probably do the same thing if I had the opportunity.

Greetings,

I'm looking to hear people's thoughts and observations of a potential increase in numbers of people moving from California and how it will affect real estate in the locations where they relocate.I grew up in CA and now live in eastern Washington state where over and over I hear that the overwhelming majority of people moving into the area are from California. With the increase in wildfires, the high cost of living, and the increasing ability to telecommute, will less expensive and less fire prone areas soon see a surge of people moving from CA, thereby changing the markets in these relocation areas?

@Kris Olson

Thanks for your thoughts; will keep them in mind for sure. Glad you could save so much by doing the work yourself. I have zero roofing experience, but am going to keep that idea in mind as well; maybe find friends with experience or something.

@Rob W Saunderson  Much thanks, good to hear positive things about them; will check them out.

Greetings,

Anyone have positive experiences with a roofer in Bellingham, WA they can recommend?

Much thanks.

@Matt Lewis Much thanks; good advice. Will check out Thumbtack.