It was a BofA 'doctor's' loan. That was also my fortune that it was the height of the boom. That loan now either doesn't exist or had been altered considerably. There are special loans out there though.

 

Some folks in San Francisco are in the closet, others are simply renting one.

 

I wish I could buy property when I was 19. Do that. We are at or near the bottom in prices AND interest rates. Keep making money-smart moves ahead of spending for pleasure. Soon enough you'll have more pleasure money than most of us.

 

I appreciate the advice. I put everything into consideration. Contradicting your advice, I wont have much money after this all goes through. Although the townhouse is a 3BR, I already have one room rented out when I move in to my buddy of 10 years. I'll most likely also look for a 3rd roomate. If everything goes according to plan, theyll be paying my mortgage while I save up.

 

let me summarize. take all advice with a grain of salt. balance. what are you willing to sacrifice for the future.

"On The Choice Of A Profession"
By Robert Louis Stevenson.

You write to me, my dear sir, requesting advice at one of the most momentous epochs in a young man's life. You are about to choose a profession; and with a diffidence highly pleasing at your age, you would be glad, you say, of some guidance in the choice. There is nothing more becoming than for youth to seek counsel; nothing more becoming to age than to be able to give it; and in a civilisation old and complicated like ours, where practical persons boast of a kind of practical philosophy superior to all others, you would very naturally expect to find all such questions systematically answered. For the dicta of the Practical Philosophy, you come to me. What, you ask, are the principles usually followed by the wise in the like critical junctures? There, I confess, you pose me on the threshold. I have examined my own recollections; I have interrogated others; and with all the will in the world to serve you better, I fear I can only tell you that the wise, in these circumstances, act upon no principles whatever. This is disappointing to you; it was painful to myself; but if I am to declare the truth as I see it, I must repeat that wisdom has nothing to do with the choice of a profession.
We all know what people say, and very foolish it usually is. The question is to get inside of these flourishes, and discover what it is they think and ought to say: to perform, in short, the Socratic Operation. - The more ready-made answers there are to any question, the more abtruse it becomes; for those of whom we make the enquiry have the less need of consideration before they reply. The world being more or less beset with Anxious Enquirers of the Socratic persuasion, it is the object of a Liberal Education to equip people with a proper number of these answers by way of passport; so they can pass swimmingly to and fro on their affairs without the trouble of thinking. How should a banker know his own mind? It takes him all his time to manage his bank. If you saw a company of pilgrims, walking as if for a wager, each with his teeth set; and if you happened to ask them one after another: Whither they were going? and from each you were to receive the same answer: that positively they were all in such a hurry, they had never found leisure to enquire into the nature of their errand: - confess, my dear sir, you would be startled at the indifference they exhibited. Am I going to far, if I say, that this is the condition of the large majority of our fellow-men and almost all our fellow-women?
I stop a banker.
"My good fellow," I say, "give me a moment."
"I have not a moment to spare," says he.
"Why?" I enquire.
"I must be banking," he replies. "I am so busily engaged in banking all day long that I have hardly leisure for my meals."
"And what," I continue my interrogatory, "is banking?"
"Sir," says he, "it is my business."
"Your business?" I repeat. "And what is a man's business?"
"Why," cries the banker, "a man's business is his duty." And with that he breaks away from me, and I see him skimming to his avocations.
But this is a sort of answer that provokes reflection. Is a man's business his duty? Or perhaps should not his duty be his business? If it is not my duty to conduct a bank (and I contend that it is not) is it the duty of my friend the banker? Who told him it was? Is it in the Bible? Is he sure that banks are a good thing? Might it not have been his duty to stand aside, and let some one else conduct the bank? Or perhaps ought he not to have been a ship-captain instead? All of these perplexing queries may be summed up under one head: the grave problem which my friend offers to the world: Why is he a Banker?
Well, why is it? There is one principal reason, I conceive: that the man was trapped. Educations, as practised, is a form of harnessing with the friendliest intentions. The fellow was hardly in trousers before they whipped him into school; hardly done with school before they smuggled him into an office; it is ten to one they have had him married into the bargain; and all this before he has had time so much as to imagine that there may be any other practicable course. Drum, drum, drum; you must be in time for school; you must do your Cornelius Nepos; you must keep your hands clean; you must go to parties - a young man should make friends; and, finally - you must take this opening in a bank. He has been used to caper to this sort of piping from the first; and he joins the regiment of bank clerks for precisely the same reason as he used to go to the nursery at the stroke of eight. Then at last, rubbing his hands with a complacent smile, the parent lays his conjuring pipe aside. The trick is performed, ladies and gentlemen; the wild ass's colt is broken in; and now sits diligently scribing. Thus it is, that, out of men, we make bankers.
You have doubtless been present at the washing of sheep, which is a brisk, high-handed piece of manoeuvring, in its way; but what is it, as a subject of contemplation, to the case of the poor young animal, Man, turned loose into this roaring world, herded by robustious guardians, taken with the panic before he has wit enough to apprehend its cause, and soon flying with all his heels in the van of the general stampede? It may be that in after years, he shall fall upon a train of reflection, and begin narrowly to scrutinise the reasons that decided his path and his continued mad activity in that direction. And perhaps he may be very well pleased at the retrospect, and see fifty things that might have been worse, for one that would have been better; and even supposing him to take the other cue, bitterly to deplore the circumstances in which he is placed and bitterly to reprobate the jockeying that got him into them, the fact is, it is too late to indulge such whims. It is too late, after the train has started, to debate the needfulness of this particular journey: the door is locked, the express goes tearing overland at sixty miles an hour; he had better betake himself to sleep or the daily paper, and discourage unavailing thought. He seems many pleasant places out of the window: cottages in a garden, angles by the riverside, balloons voyaging the sky; but as for him, he is booked for all his natural days, and must remain a banker to the end.
If the juggling only began with school-time, if even the domineering friends and counsellors had made a choice of their own, there might still be some pretension to philosophy in the affair. But no. They too were trapped; they are but tame elephants unwittingly ensnaring others, and were themselves ensnared by tame elephants of an older domestication. We have all learned our tricks in captivity, to the spiriting of Mrs. Grundy and a system of rewards and punishments. The crack of the whip and the trough of fodder: the cut direct and an invitation to dinner: the gallows and the Shorter Catechism: a pat upon the head and a stinging lash on the reverse: these are the elements of education and the principles of the Practical Philosophy. Sir Thomas Browne, in the earlier part of the Seventeenth Century, had already apprehended the staggering fact that geography is a considerable part of orthodoxy; and that a man who, when born in London, makes a conscientious Protestant, would have made an equally conscientious Hindu if he had first seen daylight in Benares. This is but a small part, however important, of the things that are settled for us by our place of birth. An Englishman drinks beer and tastes his liquor in the throat; a Frenchman drinks wine and tastes it in the front of the mouth. Hence, a single beverage lasts the Frenchman all afternoon; and the Englishman cannot spend above a very short time in a café, but he must swallow half a bucket. The Englishman takes a cold tub every morning in his bedroom; the Frenchman has an occasional hot bath. The Englishman has an unlimited family and will die in harness; the Frenchman retires upon a competency with three children at the outside. So this imperative national tendency follows us through all the privacies of life, dictates our thoughts, and attends us to the grave. We do nothing, we say nothing, we wear nothing, but it is stamped with the Queen's Arms. We are English down to our boots and into our digestions. There is not a dogma of all those by which we lead young men, but we get it ourselves, between sleep and waking, between death and life, in a complete abeyance of the reasoning part.
"But how, sir," (you will ask) "is there then no wisdom in the world? And when my admirable father was this day urging me, with the most affecting expressions, to decide on an industrious, honest and lucrative employment--?" Enough, sir; I follow your thoughts, and will answer them to the utmost of my ability. Your father, for whom I entertain a singular esteem is, I am proud to believe, a professing Christian: the Gospel, therefore, is or ought to be his rule of conduct. Now, I am of course ignorant to the terms employed by your father; but I quite here from a very urgent letter, written by another parent, who was a man of sense, integrity, great energy, and a Christian persuasion, and who has perhaps set forth the common view with a certain innocent openness of his own:
"You are now come to that time of life," he writes to his son, "and have reason within yourself to consider the absolute necessity of making provision for the time when it will be asked, Who is this man? Is he doing any good in the world? Has he the means of being 'One of us'? I beseech you," he goes on, rising in emotion, and appealing to his son by name, "I beseech you do not trifle with this till it actually comes upon you. Bethink yourself and bestir yourself as a man. This is the time--" and so forth. This gentleman has candour; he is perspicacious, and has to deal apparently with a perspicacious pick-logic of a son; and hence the startling perspicacity of the document. But, my dear sir, what a principle of life! To "do good in the world" is to be received into a society apart from personal affection. I could name many forms of evil vastly more exhilarating whether in prospect or enjoyment. If I scraped money, believe me, it should be for some more cordial purpose. And then, scraping money? It seems to me as if he had forgotten the Gospel. This is a view of life not quite the same as the Christian, which the old gentleman professed and sincerely studied to practise. But upon this point, I dare dilate no further. Suffice it to say, that looking round me on the manifestations of this Christian society of ours, I have been often tempted to exclaim: What, then, is Antichrist?
A wisdom, at least, which professes one set of propositions and yet acts upon another, can be no very entire or rational ground of conduct. Doubtless, there is much in this question of money; and for my part, I believe no young man ought to be at peace till he is self-supporting, and has an open, clear life of it on his own foundation. But here a consideration occurs to me of, as I must consider, startling originality. It is this: That there are two sides to this question as well as to so many others. Make more? - Aye, or spend less? There is no absolute call upon a man to make any specific income, unless, indeed, he has set his immortal soul on being "One of us."
A thoroughly respectable income is as much as a man spends. A luxurious income, or true opulence, is something more than a man spends. Raise the income, lower the expenditure, and, my dear sir, surprising as it seems, we have the same result. But I hear you remind me, with pursed lips, of privations - of hardships. Alas! Sir, there are privations upon either side; the banker has to sit all day in his bank, a serious privation; can you not conceive that the landscape painter, whom I take to be the meanest and most lost among contemporary men, truly and deliberately prefers the privations upon his side - to wear no gloves, to drink beer, to live on chops or even on potatoes, and lastly, not to be "One of us" - truly and deliberately prefers his privations to those of the banker? I can. Yes, sir, I repeat those words; I can. Believe me, there are Rivers in Bohemia! - but there is nothing so hard to get people to understand as this: That they pay for their money; and nothing so difficult to make them remember as this: That money, when they have it, is for most of them, at least, only a cheque to purchase pleasure with. How then if a man gets pleasure in following an art? He might gain more cheques by following another; but then, although there is a difference in cheques, the amount of pleasure is the same. He gets some of his directly; unlike the bank clerk, he is having his fortnight's holiday, and doing what delights him, all the year.
All these patent truisms have a very strange air, when written down. But that, my dear sir, is no fault of mine or of the truisms. There they are. I beseech you, do not trifle with them. Bethink yourself like a man. This is the time.
But, you say, all this is very well; it does not help me to a choice. Once more, sir, you have me; it does not. What shall I say? A choice, let us remember, is almost more of a negative than a positive. You embrace one thing; but you refuse a thousand. The most liberal profession imprisons many energies and starves many affections. If you are in a bank, you cannot be much upon the sea. You cannot be both a first-rate violinist and a first-rate painter: you must lose in the one art if you persist in following both. If you are sure of your preference, follow it. If not - nay, my dear sir, it is not for me or any man to go beyond this point. God made you; not I. I cannot even make you over again. I have heard of a schoolmaster, whose speciality it was to elicit the bent of each pupil: poor schoolmaster, poor pupils! As for me, if you have nothing indigenous in your own heart, no living preference, no fine, human scorn, I leave you to the tide; it will sweep you somewhere. Have you but a grain of inclination, I will help you. If you wish to be a costermonger, be it, shame the devil; and I will stand the donkey. If you wish to be nothing, once more I leave you to the tide.
I regret profoundly, my dear young sir, not only for you in whom I see such a lively promise of the future, but for the sake of your admirable and truly worthy father and your no less excellent mamma, that my remarks should seem no more conclusive. I can give myself this praise, that I have kept back nothing; but this, alas! is a subject on which there is little to put forward. It will probably not much matter what you decide upon doing; for most men seem to sink at length to the degree of stupor necessary for contentment in their different estates. Yes, sir, this is what I have observed. Most men are happy, and most men dishonest. Their mind sinks to the proper level; their honour easily accepts the custom of the trade. I wish you may find degeneration no more painful than your neighbours, soon sink into apathy, and be long spared in a state of respectable somnambulism, from the grave to which we haste.

 

It is this: That there are two sides to this question as well as to so many others. Make more? - Aye, or spend less? There is no absolute call upon a man to make any specific income, unless, indeed, he has set his immortal soul on being "One of us."

so are you with us or against us. s2ki or clubrsx. red pill or blue. NFR or Laguna.'

choice is simple GPW.

 

Don't do anything. You are young and I kind of agree with the sleazy sales guy. Right now there are so many different factors like school. Save your money, finish school and then see what your situation is. Owning property is a huge commitment. Just take more time and be honest with yourself. If you are like me and when you have money you just have to spend it get a CD or buy a short-term bond. At least there won't be the temptation of spending it on useless junk. Just my $0.02.

 

Question:














Who actually read Trainwreck's story?

I kid, I will read it tomorrow when I'm looking for something to entertain while I'm doing some other things.

 

Grasshopper, bought all our real estate in Orange County (southern california )way back in the summer of 96. My sons ages 11 & 8 each own outright their own townhouses we bought for them that summer in Aliso Viejo 10 minutes from the beach. We paid $73 & $74,000 for each one. Renters have paid their mortgages off long ago and the rain they generate pays their elementary school tuition of $18K each a year.


Living the dream here and retired off that summers various real estate investments


Money is a tool learn to use it or be someone's bltch saddled with debt till you pay it off.

 

I bought my first place when I was 20 (10 years ago). New construction outside of Seattle.

I was really scared because I had to give up A LOT of the stuff I liked. Cars, most of my hobbies, going out with friends. For about 2 years.

If you can't give up that stuff, don't buy a home. But, you shouldn't just go out and blow your savings either. Minimize your expenses and keep saving. Granted, I was done with school when I bought my place. I don't know if I would have done it if I was still in school.

Regardless, looking back I have no regrets. But again, you have to be willing to make those sacrifices because once you are in a home, you don't want to lose it.