U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Tennessee
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 07-23-2017, 08:48 PM
 
4,300 posts, read 2,301,541 times
Reputation: 2411

Advertisements

I'm 25 with assets of approximately 155k and an income nearing 60k. Because I live in the Bay area area this relegates me to poverty. Is it possible I could use a small amount of money such as 40k as a downpayment to. It a multifamily unit and get off the bottom of the ownership food chain?

 
Old 07-24-2017, 06:18 AM
 
Location: Johnson City, TN
19,638 posts, read 14,111,606 times
Reputation: 21944
First off, why specifically Tennessee? Is it just because it's "cheap?" What do you know about being a landlord?

Yes, you could find a duplex or something for $200k or so, and live in one half and rent the other out. That would probably be most doable in Knoxville, Cookeville, or Chattanooga, but you need to get a job for yourself first.

If you found a job, that would dictate where you would go and you could work from there.
 
Old 07-24-2017, 06:33 AM
 
38 posts, read 90,638 times
Reputation: 100
He posted the same ad in many other places and he's not leaving his cushy job behind. To OP, no matter where you end up investing, it's better to have local connections to guide you through the process and buy properties in the right areas. Good luck.
 
Old 07-26-2017, 03:13 PM
 
14,757 posts, read 26,168,520 times
Reputation: 17761
Quote:
Originally Posted by Perma Bear View Post
I'm 25 with assets of approximately 155k and an income nearing 60k. Because I live in the Bay area area this relegates me to poverty. Is it possible I could use a small amount of money such as 40k as a downpayment to. It a multifamily unit and get off the bottom of the ownership food chain?
You've posted this in multiple state forums. I suggest that you first read the forums and then come back and ask other questions then. The answer the the questions you ask are here.
 
Old 07-31-2017, 03:14 PM
 
Location: Mount Airy, Maryland
8,684 posts, read 4,789,758 times
Reputation: 13061
Would you retain your job when you moved? Or would you be looking for one at a similar salary?
 
Old 07-31-2017, 04:31 PM
 
2,966 posts, read 2,566,773 times
Reputation: 4096
Quote:
Originally Posted by Perma Bear View Post
I'm 25 with assets of approximately 155k and an income nearing 60k. Because I live in the Bay area area this relegates me to poverty. Is it possible I could use a small amount of money such as 40k as a downpayment to. It a multifamily unit and get off the bottom of the ownership food chain?
I lived right in SF for a long time at that salary level and was not living in poverty.


You do know that if you move, you'd likely not make the same salary.
 
Old 07-31-2017, 07:17 PM
 
4,300 posts, read 2,301,541 times
Reputation: 2411
Quote:
Originally Posted by N.Cal View Post
I lived right in SF for a long time at that salary level and was not living in poverty.


You do know that if you move, you'd likely not make the same salary.
My pay is flat no matter where I live. Regardless I only plan on renting it while living here.
 
Old 07-31-2017, 07:21 PM
 
Location: North State (California)
20,341 posts, read 1,761,038 times
Reputation: 8116
Put your money where your mouth is. Stop pontificating about your assets & do something. I have read several thread you have started in the same vein, many would consider it spam.
 
Old 07-31-2017, 08:07 PM
 
4,300 posts, read 2,301,541 times
Reputation: 2411
Quote:
Originally Posted by evening sun View Post
Put your money where your mouth is. Stop pontificating about your assets & do something. I have read several thread you have started in the same vein, many would consider it spam.
Just asking for advice on cities to look at where I could get a duplex.
 
Old 08-01-2017, 09:38 AM
 
Location: Cumberland Co., TN
19,158 posts, read 19,876,059 times
Reputation: 19767
Quote:
Originally Posted by Perma Bear View Post
Just asking for advice on cities to look at where I could get a duplex.
I would think you could go to any major city in the US and rent a duplex.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Tennessee
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top