Are young people leaving Los Angeles? (Industry: foreclosed, houses, job market)
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No, no definitely not in New York or San Francisco, 30-40K would be almost nothing in those two places unless a person does not mind really working hard just to be there. What I meant is that the stated salary will be good enough for many places. Some of these can be PHX, Tucson, Oklahoma City, Indianapolis, and Boise maybe?
I cannot wait to leave LA. I'm a 30 year old single professional female. The people here are absolutely crazy and the dating scene is the worst I've ever experienced. Men don't know how to be men at all and are completely emasculated. BTW, I made over 100K last year and I feel POOR. I'm going back to the South to invest in real estate where I can actually build wealth and plan an awesome future. I like money though. Maybe some don't. BTW, Angelinos pay 9.75% in sales tax BECAUSE of their immigration problems, though they'll feed you a load of their hippie-we-are-all-one talk to make you believe otherwise. You think you'd be paying that much if you didn't have illegals flooding your schools and hospitals and taking other social benefits? No. This is the most poorly run city I've ever seen. Live in Paris, pay those taxes, and actually RECEIVE real social benefits and be taken care of, instead of struggling to get by....
I racked up no debt and had no assistance. Compared to NYC or Hawaii (which is 3x as expensive) or Paris or London, L.A. is a bargain. This is a big, international city, not the boonies. I was a beach bum during the day, waited tables in the evening and shook my groove thang in the clubs after that. I always found a cheap, 1920's 3 room studio apartment with plenty of charm. My last one was $425 a month. Today you could have it for $750 and it's in one of the safest areas in L.A. I scored antique furniture and refurbished it myself. I maintained my own vintage sports car. I shopped at thrift stores (I wasn't raised poor so this doesn't scare me) got $5 haircuts from a killer neighborhood barber, peroxided my own hair and limited travel to one big vacation a year (airfare wars) supplimented with a plethora of afternoon road trips. I bargain shopped and toward the end, I longed for more and bettered myself. Within a year I was making over 100k. Next question?
Depends on what you want out of life. $40-$30K a year in LA is pretty poor. If you are not looking to live the glam life, have no ambition, don't mind being potentially a life renter, and don't mind living on a tight budget and having little to no disposable income--then you can live in LA, if it makes you happy just to be here. Many do. But I suspect you want more, and if you don't you eventually will in a place like LA where life for the have and have nots is starkly different. LA is designed and tailor made for people with money. The more you have, the better life will be, at least from a material standpoint.
Now if you are ambitious and have good prospects to be promoted and to earn more money in your field, then LA is just as good as anywhere especially in comparison to other cosmopolitan, expensive cities like NY, SF, Chicago, Boston, etc. Among young, well educated professionals from elite colleges and graduate schools, LA is a top destination.
^^^^^What TheRealAngelion said. This is 100% accurate. The only thing I'd add is this is true for any coastal metro area in California (e.g.--San Diego, Bay Area, etc).
You can do fine as long as you rent a cheap place and don't have an expensive car or any addictions. Contrary to what you read in this forum, you can find perfectly livable apartments in nice areas for $1000 a month or less. I know of a small 1 bedroom house currently available in Franklin Hills with a 10 our of 10 elementary school and it's $850 a month. If you decide to move here, ask away. L.A. is what you make it. You can also choose to better yourself and make more money, it's up to you. I lived on 15k or less per year until 1998.
$1000 a month is a lot if you're only making 40K per year. I guess that's fine if you don't want to put any money in your 401K, but I'd never advise it
If you follow the entertainment dream, get a P.A. job for $100 to $150 a day and work your way from there. I don't know anyone in the industry who makes less than 100k a year (of my friends) and some make much, much more. My partner hadn't worked in T.V. in 4 years and had NEVER worked in entertainment T.V. and just landed a gig that pays...sensationally for 4hrs a day work. It was a referral from a total stranger. I always tell people to be nice here.
On to other things...L.A. residents will pay to have almost anything done for them. Offer your own service, you can get rich. Examples: I was talking to a dog walker at Famina the other day who clears 100k a year. She walks many dogs at once which I'm not sure I'm fond of but that's beside the point.
I know one guy who makes his living going to yard and garage sales, picking up antiques and reselling them same day to antique stores. He typically makes $1000-5000 a day when he does this which is usually 1 or 2 days a week. This obviously takes practice and you have to have knowledge of antiques and vintage goods...mostly you have to have "the eye". He has no overhead. If it fits in his Mustang convertible, he buys it. No store, no storage. I asked him how much he makes and he says on paper he makes 50k...and I asked how much he REALLY makes and he says 5-10 times that, depending how motivated he is in a given year. He says he hasn't had a regular job since the 80's.
I know another girl who liked to sketch dresses. She was from a crappy neighborhood. Within a few months, her dresses were in a shop on Rodeo at no less than $5000 each and she's one of the most sought-after "rock-n-roll" designers in the industry.
I know another very feminine gay man who liked to play in makeup. He made the right contacts and literally went from poor white trash to making 250k a year as a makeup artist. Drag queens can do pretty well here too if they get in the right place.
There's me, the waiter who decided to buy the Carlton Sheets course and...the rest is history. I had very little startup funds. My last project turned $1000 into $100,000. It took 5 weeks to get the work done. My current pursuits include buying and refurbishing small multi-unit properties in up and coming areas to keep for the long term. Key words: leverage and sweat equity.
Fetch doggies and kitties from the airport, make $65 or so for a few minutes work. Open a "doggie bakery" in another business in an upscale area. People will flood you for business and there aren't very many. Mobile grooming services do well and the overhead is low.
Prowl yard sales for vintage clothes and resell them either to my friend who has a vintage clothes store, on e-bay, at the PCC Flea Market.
If you're really an entrepenuer, open a coffee place. A friend of mine has one in Glendale and drives a Rolls Royce. He didn't have it before the cafe. He says the overhead is low (besides the obvious monthlies) and cost on coffee is almost nothing compared to what it sells for. I've asked him several times how much he makes a year and he just grins at me. Last I checked, he was still single...
Other people rent things to studios for a living...if you can think of any sort of specific collection of things that's rare, it can be a supplimental income for you. I know some people who regularly pimp out their houses for filming. This is just for extra money.
I have a good friend who is a dominitrix. She makes all her clients sign an agreement re: what she will and will not do (i.e. no sex). Her lawyer drew it up. She makes probably a mil a year. Her place is an unassuming Culver City warehouse from the outside...from the inside, a modern loft fantasy. She even has her own torture chamber. She has a few other girls working there. Their clients are all men and they are all lesbians. What she does is completely legal.
In the recent soft real estate market, agents are getting more and more desparate. I'm seeing people take an old van and solicit business from all the Realtors in the area to simply put up and take down open house signs. You can do many at once. This you can start right away with an $800 van.
There's a need for more in the way of rental searches right now. With the fall in the housing market, the rental market has gone thru the roof. Westside Rentals charges $65 a pop for outdated lists. Anything to do with aiding rentals. I'm writing several e-books right now as info on a few areas. This is completely passive income, internet robots collecting money.
Some people prepare apartments for new tenants after the old ones move out. New/cleaned carpet, refinish floors, new paint...you get the idea. These people make more than decent money and if they hire a few and delegate, they do very well. Many take advantage of the...ahem...inexpensive labor available in L.A.
Of course, we have all the traditional pursits and PLENTY of crappy jobs that people get stuck in because they don't believe they can do any better. The above is just a little flick of things I've seen done here. I may think of more. This place is chock full of opportunity and we've got a lot of money floating around here. Remember: rich people will spend money on things in L.A. that pamper them...they love personal services and unique products.
These aren't opportunities...these are examples of selling your soul for crappy work that pays a lot of money because of sheer volume....do you honestly think this type of lifestyle is one that deserves to be pursued or given credence to?
Honestly, this sounds more like a chaotic lifestyle and living area than a city to want to live in. If it wasn't for the "faux glamour" and entertainment industry that serves no one but the top people in the business, what does LA have to offer?
I am in Denver right now and dating here is just retarded. It's a plain, boring city. I am saving to move back home in a couple of years. I would not recommend Denver if your a mid thirties guy. I think the term "sausage fest" originated here.
Young people are not leaving Los Angeles they are all hanging out in Studio City and Sherman Oaks.
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