San Diego Housing Market News and Analysis
How to make more money?
User Forum Topic
Submitted by kev374 on September 21, 2016 - 10:49am
Work as a Sr. Software Engineer, pulling in six figures as a fulltime, given the absolutely shocking cost of living in SoCal (mostly because of the real estate) the salary level just seems very dismal.
The going contract rates are not that great either with employment agencies being cutthroat and not offering more than $80/hr (and that is hard to get as these agencies try to pocket as much as they can for doing nothing and try to play dirty games by promoting cheaper candidates that benefit their bottom line..anyway that's a rant for another day!)
Not a homeowner but would like to invest in something, 3bd, 1600sqft are around 750,000 with monthly HOAs of $350 or so, that just sounds shocking for something that isn't that fancy.
I think the only solution may be to see if I can make more money but not sure how.
As ironic as it sounds, perhaps getting into real estate may be a good option? I don't know how saturated that market is or the prospects. How about being a mortgage broker?
One of my main downsides is that I am single income and most people going the homeownership route are either wealthy individuals with family wealth or strong dual income professionals (both six figure earners)...seems like this area is inundated with these types so very difficult to compete.
I think a fair assessment is that in Orange County, if you want to live in a good area, such as Irvine, and want to afford something comfortably one needs at least $200,000/yr or higher household income..and that is at a minimum.
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