Where would you live if you had more money? (Los Angeles: city hall, house)

[UKWildcat1981]

After taxes in California, state local and if you factor in federal thats only like 100k a year, I would move to Texas and fly to LA on the weekends and lease a condo.

[steveklein]

Originally Posted by UKWildcat1981

After taxes in California, state local and if you factor in federal thats only like 100k a year, I would move to Texas and fly to LA on the weekends and lease a condo.

I really don't think 2/3 of your salary gets eaten up by taxes, even in California.

[MordinSolus]

Originally Posted by UKWildcat1981

After taxes in California, state local and if you factor in federal thats only like 100k a year

You are either really bad at math or just a dullard in general.

[strikefirefall]

If that was me, I'd live a very frugal life for the first 3-4 years. I've pay for a decent car in cash, get an apartment for no more than $2,000/month, and invest my money in real estate. I'd buy one property every year, ideally in Arizona.

During year 5, I would stash as much as I can. Then during year 6, I'd buy a house for no more than $1.5 million. With a down payment of around $300k, monthly payments would be around $6,000. I'd use my salary and some of the money from the properties I invested in to pay the mortgage.

I'd look for a house in either Beverly Hills, West Hollywood, Pacific Palisades, or Malibu.

[Mr_Geek]

I used a paycheck calculator and being very conservative it shows take home of around $150k per year for a single person with 0 deductions and 0 allowances who has a salary of $300k. This is also taking out 6% for retirement and $200/check for other insurance etc..

So married with kids would be even higher.

[HyperionGap]

Originally Posted by MordinSolus

You are either really bad at math or just a dullard in general.

Seriously. And then there's the guy saying even if you make 300k you're still going to have to rent. People on this forum are so financially illiterate it's funny.

[MItoBH]

I would live in a condo or townhouse in Marina Del Rey, about 3-5 blocks from the beach. I'll want easy access to LAX for quick visits home to Michigan, as well as to receive visitors to my new So Cal crib. I will visit the Ritz Carlton of MDR to treat my friends and family, and have access to walk along the VB boardwalk, or Abbot Kinney, or bike to Santa Monica, etc. I think MDR is the perfect location for So Cal living and I have my eyes on that.

If $10 million fell into my lap, I would be living the Beverly Hills life.

[znlwovuhrjw]

Originally Posted by steveklein

I really don't think 2/3 of your salary gets eaten up by taxes, even in California.

The realistic tax of all costs of living in CA are around 30% of all income with an additional 25%+ in federal taxes.

[jm1982]

Pacoima!...just kidding..

I'd say Toluca Lake/Studio City area.

Area is getting a lot more interesting, it's pretty clean and seems pretty safe at least. Also pretty easy access to other parts of L.A like Hollywood, Downtown L.A etc.

There is traffic, but it's not like westside style traffic and doesn't have the whole tourist craziness.

[disgruntled la native]

Originally Posted by Mr_Geek

If you can't afford to buy a house on a 300k/year salary you have some money management issues.

What is 300k after taxes?

You can buy a house in most of LA county sure, but not in the most desirable areas. You'd have to pay a condo or rent.