All Forum Posts by: Myeasha Jones

I loved to know too! My one year with NACA has had so many ups and downs. Would love to hear success stories for motivation!! https://www.youtube.com/channe...

Quote from @Myeasha Jones:

Has anyone had success with naca or know of someone who has? Or getting a mortgage with character based lending?

Would love to hear from you if you’re in the Bay Area ca but open to anywhere 

I am still in the early process post purchase but I have had a successful experience with NACA. It has had its ups and downs but I managed to purchase a duplex with a NACA loan. The home is in my price range without a tenant and with a tenant it should cover my mortgage! I am doing some work to finish up the unit and have it ready for a tenant within the next month. The process all together from start to finish (closing) took me about 8 months. Considering that my income is on the lower end it was a wonderful decision for me and really has put me in the position to jumpstart my real estate career with househacking. NACA is intense so I would say everyone needs to make sure its for them and it fits your needs before jumping into the program. I encourage everyone to at least do the initial workshop to learn about it and see if it would work for you! Feel free to reach out if you would like to know more about my process.

Quote from @Myeasha Jones:

Has anyone had success with naca or know of someone who has? Or getting a mortgage with character based lending?

Would love to hear from you if you’re in the Bay Area ca but open to anywhere 

I am still in the early process post purchase but I have had a successful experience with NACA. It has had its ups and downs but I managed to purchase a duplex with a NACA loan. The home is in my price range without a tenant and with a tenant it should cover my mortgage! I am doing some work to finish up the unit and have it ready for a tenant within the next month. The process all together from start to finish (closing) took me about 8 months. Considering that my income is on the lower end it was a wonderful decision for me and really has put me in the position to jumpstart my real estate career with househacking. NACA is intense so I would say everyone needs to make sure its for them and it fits your needs before jumping into the program. I encourage everyone to at least do the initial workshop to learn about it and see if it would work for you! Feel free to reach out if you would like to know more about my process.

@Myeasha Jones, even at a whopping $100000 salary, I don't believe your income would qualify you for a two bedroom apartment. I believe they require income to be 3X rent.

@Myeasha Jones

I’m from Palo Alto and moved to Texas 24 years ago. This would be a hard pass for me. It’s very hard to survive on less than 150k/year in that area unless you commute far away. Other expenses out there will eat you alive. Don’t just look at housing and daycare.

Quote from @Carlos Ptriawan:

I have family work in Palo Alto and living in Stockton/Manteca as home price there can be bought for 300k cash.

Please don't convince anyone else to move to the valley.  I can't get anywhere anymore because there's getting to be so much traffic!  haha.

@Myeasha Jones

In all seriousness, this thread hits close to home and gives me anxiety!  haha.  I've lived in the valley since junior high and got a finance degree almost 30 years ago (blech).  When I looked around for a job, the City seemed the obvious choice, but I couldn't bring myself to live in the city or to try the commuter lifestyle, so I didn't even look.  I ended up with a non-finance, valley job and supplemented my smaller income with real estate.  In the end, I'm happy with my decision, but I've always wondered what would've happened if I'd have given it a go and pursued my education.  Tough choice, for sure.  You definitely have my empathy having to make it! 

Regardless of what you choose, may God bless your path!

Quote from @Myeasha Jones:

Quote from @Jay Hinrichs:

Quote from @Bjorn Ahlblad:

@Myeasha Jones East Palo Alto is not where you want to live, especially with your kids. It is a high crime area. 

You are in for a very exciting and hopefully rewarding time Myeasha! Silicon Valley is amazing. So many opportunities to go down or up-it is really up to you!

I lived in Palo Alto for 10 years and grew up in the area.  EPA in the day was a war zone.. but I think it has changed a lot.. I would at least drive through and see what can be rented and check the schools before you cross it off the list.

 Thank you!

 EPA is quite gentrifying story.  Some area inside EPA is quite okay these days.

To be very honest , the way to survive in this location are three key things:
1. needs to own a house, and house in the are currently is quite affordable from its standard.
2. needs dual income family, with one side working at tech / finance / ; or maybe construction.

Lot of hard worker people, not just the one in tech, is very succesful in the area due to high income earner and lot of jobs.