All Forum Posts by: Violet Barnes

Thanks everyone for this awesome advice. Since posting this, I've got a promotion and renegotiated my salary to 88k, something much more in-line with my degree. 

I've been watching the area and the cheapest I've seen are 3 bedroom condos for 400k. I've never purchased a home so I qualify for FHA 3% down which I can more than cover. My monthly payment will be about $3,800 which is a little high.

I'm still saving and learning as I go, but even with my new salary, I'm pretty much priced out of my hometown :(

@Lane Kawaoka, yes sounds like this is an option. Just worried about not be able to see or access the house if I need to. 

@Abdul Shishi you are so right! I got the job before earning my MA and just graduated 8 months ago, so I'm in talks with HR to get some serious pay adjustments as well as upward movement in the next few months.

Thank you guys, this has all been very helpful. House hacking sounds like a great idea Chris, but Aaron is right, 250k is a tool shed in the Bay Area. I have a pretty good job here and a rent controlled 1-bedroom apartment in which I pay a small fraction of of what my new neighbors are paying so I want to be careful about giving that up.

I really want to put this 30k to work for me, but as Alexander pointed out I shouldn't be too hasty. In the meantime, I'll keep studying, saving, and bugging you all with questions ;-)

Thanks a bunch!

Hi Everyone, I am so excited to have found this great community!

I have been interested in Real Estate for all of one week. What really captivates me is the concept of passive income, of course,  land ownership has always been a goal for me personally, but while my expenses are low and my responsibilities minimal, I would like to set myself up for future success. I spend 8 hours a day in a cubical, and I don't want this to be my life...

A little about me:

I just completed my MA in Music Business.

I work full-time on a 50k/year salary at a music tech company.

I was lucky enough to be able to save up 30k in cash. 

I live in, and want to purchase in the very expensive California Bay Area market.

720 credit score, no loans or credit card debt with an exception of 50k in low-interest Federal student loans (Currently in grace.)

So HERE is my question to all of you knowledgeable and wise real estate investors! Imagine you were me (But with all your advanced Real Estate knowledge of course), what would be your very first step? How would you utilize $30,000 to create future opportunity for profit in real estate?

My first thought was to pay off my student debt, but if there is a possibility to do something more valuable in the long run I want to know! 

PS. Currently reading Brandon Turner's The Book on Investing in Real Estate with No (and low) Money Down as well as exploring the education available on this site and Youtube. May take a community college/online course.

THANKS IN ADVANCE!