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Old 11-30-2016, 07:08 AM
 
Location: Altadena, CA
1,596 posts, read 2,057,926 times
Reputation: 3004

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Quote:
Originally Posted by jacktravern View Post
Thats not necessarily true. I moved here with about 2 grand and a decade later here I sit. Plenty of people move to NYC and LA w/o a million bucks in their account. It just takes a bit of sacrifice
This is absolutely true. I moved here in October with $2k - drove by myself from Michigan. Got my job 5 days later. You can move to LA with much less... however, the more you have, the better.

If you have student loans and car pmts, make arrangements with the lenders for a 3 month deferment on making student loan payment, and ask for a one month extension on your car loan so that you can skip one month's payment w/o penalty. This freed up my cash flow so that I can move.

Start packing and good luck!
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Old 11-30-2016, 10:58 AM
 
17,815 posts, read 25,628,169 times
Reputation: 36278
Quote:
Originally Posted by MItoBH View Post
This is absolutely true. I moved here in October with $2k - drove by myself from Michigan. Got my job 5 days later. You can move to LA with much less... however, the more you have, the better.

If you have student loans and car pmts, make arrangements with the lenders for a 3 month deferment on making student loan payment, and ask for a one month extension on your car loan so that you can skip one month's payment w/o penalty. This freed up my cash flow so that I can move.

Start packing and good luck!
You moved with $2K? That's insane.

I moved here in 1988 with $5K, at the time I thought that was a lot of money, it wasn't in 1988, and certainly isn't now.

You need 6 months living expenses, that includes things like car insurance.

As far as deferments or getting a one month free pass, that doesn't do much good. Just a brief delay, you still have to pay out the money.

OP, I would try and save up till you have about $20K, and hopefully you're not carrying a lot of debt. If you're debt free all the better.
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Old 11-30-2016, 11:01 AM
 
4,795 posts, read 4,820,612 times
Reputation: 7348
Quote:
Originally Posted by MItoBH View Post
This is absolutely true. I moved here in October with $2k - drove by myself from Michigan. Got my job 5 days later. You can move to LA with much less... however, the more you have, the better.

If you have student loans and car pmts, make arrangements with the lenders for a 3 month deferment on making student loan payment, and ask for a one month extension on your car loan so that you can skip one month's payment w/o penalty. This freed up my cash flow so that I can move.

Start packing and good luck!
Honestly you are very lucky and not the norm. I believe you also found a room to rent in a nice area for 1990s pricing. That's a unicorn and not what most people will experience
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Old 11-30-2016, 07:05 PM
 
Location: Los Angeles
2,436 posts, read 2,793,261 times
Reputation: 2284
Coming here with $2,000 or less is not wise and just not a good idea. I would advise anyone moving to Los Angeles NOT to do that.

OP, make sure you do your research, visit, and try to save at least $10,000.

Good luck.
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Old 11-30-2016, 07:32 PM
 
17,815 posts, read 25,628,169 times
Reputation: 36278
Quote:
Originally Posted by theraven24 View Post
Coming here with $2,000 or less is not wise and just not a good idea. I would advise anyone moving to Los Angeles NOT to do that.

OP, make sure you do your research, visit, and try to save at least $10,000.

Good luck.
Exactly, good grief.

Even if someone does a roommate situation, and say the rent is $800 a month, they will most likely have to put down $1,600, now you have $400 to live on. Not too smart.

You need a buffer, I agree at least $10K.
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Old 11-30-2016, 09:36 PM
 
Location: Altadena, CA
1,596 posts, read 2,057,926 times
Reputation: 3004
Quote:
Originally Posted by seain dublin View Post
You moved with $2K? That's insane.

.
Dude, but I did it! And still had money to join LACMA, eat sushi, and pay for my car registration and license during my first week.

All other monies for the 3 day travel and hotel was in a separate fund with a budget of $600 - gas/food/3 different hotels.

The deferments are a very, very temporary break to help one get established in their new city and start earning money again. Basic financial breathing space.

some people move to LA with a few hundred bucks, others move with $100k. We all have to live and manage within our means and expectations.


It's all good.
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Old 11-30-2016, 09:39 PM
 
Location: Altadena, CA
1,596 posts, read 2,057,926 times
Reputation: 3004
Quote:
Originally Posted by ryanms3030 View Post
Honestly you are very lucky and not the norm. I believe you also found a room to rent in a nice area for 1990s pricing. That's a unicorn and not what most people will experience
I thank baby Jesus every day for my luck. Believe me, it scared me looking for a place to live, but I knew deep down inside, all would work out. I was miserable in Michigan. I sent my wishes out into the Universe help my move to California be safe and affordable and the Universe hooked me up.
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Old 12-01-2016, 10:38 AM
 
4,795 posts, read 4,820,612 times
Reputation: 7348
Quote:
Originally Posted by MItoBH View Post
I thank baby Jesus every day for my luck. Believe me, it scared me looking for a place to live, but I knew deep down inside, all would work out. I was miserable in Michigan. I sent my wishes out into the Universe help my move to California be safe and affordable and the Universe hooked me up.
I hate to be negative but your situation could still change any day and you'll be back in MI without a substantial amount of savings to live off of. You're likely not even eligible for unemployment yet
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Old 12-01-2016, 12:29 PM
 
Location: Los Angeles
2,436 posts, read 2,793,261 times
Reputation: 2284
Quote:
Originally Posted by ryanms3030 View Post
I hate to be negative but your situation could still change any day and you'll be back in MI without a substantial amount of savings to live off of. You're likely not even eligible for unemployment yet
You're not being negative, you're being realistic.
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Old 12-01-2016, 01:49 PM
 
Location: Southern California
12,713 posts, read 15,524,309 times
Reputation: 35512
Quote:
Originally Posted by ryanms3030 View Post
I hate to be negative but your situation could still change any day and you'll be back in MI without a substantial amount of savings to live off of. You're likely not even eligible for unemployment yet
Couldn't anyone's situation change any day regardless if they just moved here or have been living here for 50 years, thus leaving them in a horrible situation?
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