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by goobynight 2341 days ago
The problem isn't isolated though. We're at the point where people living in tech hubs are buying houses in Ohio every couple of months, simply because they can.

(owning) housing also isn't necessarily cheap relative to the jobs available in these areas.
1 comments
ericmay 2341 days ago
> buying houses in Ohio every couple of months, simply because they can

I doubt that, and even if they are I'm not sure it's a wise choice. Housing is cheap here compared to other areas, but it's not that cheap (unless you're buying stuff I'm not sure you'd want to buy anyway).

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goobynight 2341 days ago
You're doubting what? That there are people doing this?

It's not hard on a bay area L4+ salary to have a spare 40-50k several times a year (20% of a 200-250k property), especially if you are snowballing with profits from multiple other properties.

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ericmay 2341 days ago
> You're doubting what? That there are people doing this?

> buying houses in Ohio every couple of months, simply because they can

Yes I am absolutely doubting this.

> Snowballing with profits from multiple other properties

Like, as in buying properties in Ohio then managing them? If it's in SF I can kind of see it since you can go to the property on short notice, but if you're in SF you aren't buying and maintaining rental properties in Ohio unless you have family here or someone to help out on the ground or unless you seriously enjoy throwing money in the trash. It's far too much work and rental property management companies don't really help except to find tenants. It's hard enough work when you're actually in the same location.

I'm sure there exists people who do it (I don't think I've doubted that it's possible or that somebody somewhere does it) but I'd challenge it as a smart investment choice for sure.

If you want to clarify here because I think that there's some ambiguity between your comment and the OP comment I responded to, please do and I'd love to chat about that.

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OrangeMango 2341 days ago
> buying and maintaining rental properties in Ohio unless you have family here or someone to help out on the ground

I have an extended family member that at his peak time owned about 90 homes in NE Ohio. He lived there his entire life, knew everyone and knew their parents too.

A distant landlord from California will get eaten alive, with the help of the local government. You need to move mountains to get things done when you live in a neighboring town, let alone a coastal state.

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