Salary Expectations......

[Campeador]

I feel ya 100%... It is just how much can I realistically save if I am also paying rent? I would rather be putting that money towards a house. Yeah, you lose the interest. But, you also lose the money you're giving to a landlord for rent. How long do I have to wait until I have my own property and do what I want with it? I want to be able to make a garden, have chickens, have get a together where friends can set up tents, bonfires and list goes on. How many places can you rent for a decent price where you can do all of that?

I see where you're coming from. For me personally, as long as I have a decent place, the other stuff doesn't matter as much. But in terms of rent, you'd be surprised at the great places you can find as long as you're not in an ultra high-demand market.

And the person saying she covers her mortgage off one tenant... Unless it's a small mortgage that poor tenant is getting ripped off.

 

[Sno.]

I see where you're coming from. For me personally, as long as I have a decent place, the other stuff doesn't matter as much. But in terms of rent, you'd be surprised at the great places you can find as long as you're not in an ultra high-demand market.

And the person saying she covers her mortgage off one tenant... Unless it's a small mortgage that poor tenant is getting ripped off.

or maybe you buy a rental property in a place that has high rental income? IE: downtown Bellevue, WA...which is where my condo is...

 

[Campeador]

or maybe you buy a rental property in a place that has high rental income? IE: downtown Bellevue, WA...which is where my condo is...

I don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.

 

[cornholio]

I don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.

if the average rent per bedroom is $500-$800 you should be able to rent a 2 bedroom out for $1000-$1600, why would that not cover a mortgage payment less than $1000?

 

[JGWI]

At the moment I am in nursing school and hope to go into pediatric Critical Care so for me I am thinking ill average around 68,000 to 75,000 on a 72 hour biweekly pay period. But that is really dependent on the location. If I could get a job in say Salt Lake City or Tahoe I would gladly take the pay cut for the location but jobs like that that are not in larger cites would limit my earning potential. I honestly have been raised in a rather frugal family so I don't need tons of money and even if I made it I would probably end up with a lot of it in the bank for later in life. To live comfortably in what I envision to be my future I would say around 60,000 would be sufficient.

I know a lot of people that went into a field simply for the money. Yeah sure it is great to make 150,000. But if you hate your job and have no time to spend it what is the point? I went into nursing for the fact that I can get a job anywhere I want, only work 3 days a week (Ski the other 4), and I bring home a decent check.

 

[Sno.]

I don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.

I have no reason to be dishonest. She isn't getting ripped off, either. My condo is actually in an older building so it rents for less than quite a few around here. The value of the condo itself is around 250k, whereas 1 bedroom units downtown can go for upwards of a million. I have a one bedroom condo. It rents for 1450.00. I don't know what you were looking at, but I certainly wasn't talking about 1 bedroom in a shared unit. The condo is a one bedroom, but even if it were a 2 bedroom, I wouldn't rent it to 2 separate tenants. Also, you say downtown and nearby-- there is a big difference between downtown, and what is considered "nearby" in this area.

I actually listed it for 1550, but negotiated for a single tenant with auto-pay rent.

 

[Sno.]

here's an idea of a modern 1 bedroom rental in Bellevue-- like I said, though, mine is in an older building so rents for less.

http://seattle.craigslist.org/est/apa/4572718952.html

 

[Sno.]

I don't want to accuse you of being dishonest, but based on the information I was able to gather that does not seem entirely accurate. The average rent for a bedroom in a shared unit for downtown and nearby looks to be in the $500-$800 range. Now judging from mortgage rates given from each property quoted by Chase, the cheapest 2 bedroom condo I could find (not downtown) was 198,000, would mean just under a grand in monthly mortgage payments at minimum.

Given that information its hard to believe that the tenant's rent is able to actually generate money equal to or above the actual mortgage. And if it does, then it wouldn't appear that the tenant is getting a great deal. But if the mortgage loan is actually a smaller amount, this seems plausible.

Plus, if one rents out an extra room to pay the mortgage there's always the unknown factor of getting a shitty tenant (you've been lucky), which aren't that easy to get rid of depending on the lease agreement.

Anyway, I don't want this thread to get sidetracked with mortgages. Like I said, it's a decision that has to be considered very carefully.

triple post! I think this was all just a misunderstanding. In reading your post again-- it looks like you think I was talking about renting out a single bedroom in my own home/condo and having it cover the mortgage. This is not the case-- I do not live there--the tenant is renting the entire condo, not just a room.

 

[shocker611]

triple post! I think this was all just a misunderstanding. In reading your post again-- it looks like you think I was talking about renting out a single bedroom in my own home/condo and having it cover the mortgage. This is not the case-- I do not live there--the tenant is renting the entire condo, not just a room.

Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.

 

[californiagrown]

Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.

come see what SF is like haha. its worse than manhattan. My rent should be a mortgage on a damn nice house.

thats one of the reasons im trying to move to PDX or Seattle. so much cheaper.

 

[Campeador]

triple post! I think this was all just a misunderstanding. In reading your post again-- it looks like you think I was talking about renting out a single bedroom in my own home/condo and having it cover the mortgage. This is not the case-- I do not live there--the tenant is renting the entire condo, not just a room.

I apologize, I completely misunderstood. In your case I think you've made a great decision. I thought you were making a case for renting out an extra bedroom in your own condo to cover the entire mortgage, which I found hard to believe.

 

[californiagrown]

I apologize, I completely misunderstood. In your case I think you've made a great decision. I thought you were making a case for renting out an extra bedroom in your own condo to cover the entire mortgage, which I found hard to believe.

My cousin is an actress based out of NYC and has lived in the same 3bdrm rent controlled apartment for the past 10+ years. She is the name on the lease and subleases the other rooms to folks for close to market value. Just one of those rooms covers her rent and then some. She has a damn good thing going.

Similarly, my parents bought our house in 1979 and it has increased in value a couple thousand percent since then. When they move up to Oregon and start renting the place out, just one of the rooms would cover their mortgage haha...not a bad retirement income at all.

 

[KravtZ]

My cousin is an actress based out of NYC and has lived in the same 3bdrm rent controlled apartment for the past 10+ years. She is the name on the lease and subleases the other rooms to folks for close to market value. Just one of those rooms covers her rent and then some. She has a damn good thing going.

Similarly, my parents bought our house in 1979 and it has increased in value a couple thousand percent since then. When they move up to Oregon and start renting the place out, just one of the rooms would cover their mortgage haha...not a bad retirement income at all.

Wow thats amazing. I live in NYC in rent controlled place as well..can't see how she pulls off the sublet if she doesn't own it though but if the owner is happy all good. But respect...NYC rents are fucking stupid. Sounds like your sister is doing it right. I know for the superbowl last year some friends and I tried to sublet our places to tourists and our landlord said we couldnt.

 

[lIllI]

Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.

But then you're stuck living in Salt Lake...

 

[Bodhisattva_]

Damn that is absurd how much those apartments are. You could get an insanely nice place in salt lake for that price.

That's because Bellevue > SLC and you have Mormons instead of tech savvy millionaires.

 

[Campeador]

That's because Bellevue > SLC and you have Mormons instead of tech savvy millionaires.

Hahaha nothing worse then tech savvy (aspiring) millionaires, in comparison Mormons sound pretty good.

 

[Bodhisattva_]

Hahaha nothing worse then tech savvy (aspiring) millionaires, in comparison Mormons sound pretty good.

Very true. I'd take a Mormon as a neighbor vs the many douchenozzles in Bellevue any day.

 

[Sno.]

Very true. I'd take a Mormon as a neighbor vs the many douchenozzles in Bellevue any day.

lies!

 

[lIllI]

That's because Bellevue > SLC and you have Mormons instead of tech savvy millionaires.

The only thing I hate more than cocky douchebags are religious douchebags who pretend to be nice.

 

[Skittle.]

mormons are great neighbors to have....

that being said, I do freelance vinyl wrapping, and I'm making somewhere around $75k a year, working 3-7 days a week, living at parents house, a year out of high school, with plans to start college soon for i donna what degree. all i know is that i don't wanna be living like this with the whole i don't know if i have work the next day til I'm called in life. expecting something above 100k after school, or else ill just keep wrapping.

this wrapping

 

[louie.mirags]

mormons are great neighbors to have....

that being said, I do freelance vinyl wrapping, and I'm making somewhere around $75k a year, working 3-7 days a week, living at parents house, a year out of high school, with plans to start college soon for i donna what degree. all i know is that i don't wanna be living like this with the whole i don't know if i have work the next day til I'm called in life. expecting something above 100k after school, or else ill just keep wrapping.

this wrapping

Dude... $75k a year out of high school is way more then anybody can bargain for. Expecting to make $100k out of college is a stretch. What would you major in? I wouldn't even expect to make $75k out of college except for a few majors, even then they generally require more than a undegrad degree. So, if money is top priority I would recommend going to school part time and take the work when you can get it. Does suck not knowing when or if you're going to get called but $75k is a great wage. I make $45k a year and it is a huge relief because 4 months ago I was worried where I would work after school.

 

[joshua]

Can anybody with a degree in Forestry or Natural Resource Science comment on how their careers are going? Preferably a Canadian perspective.

 

[Sno.]

Can anybody with a degree in Forestry or Natural Resource Science comment on how their careers are going? Preferably a Canadian perspective.

not a canadian but my dad is a forestry and natural resource major and he is the Natural Resource Manager for the City of Bellevue, WA.

 

[2_fadez]

Can anybody with a degree in Forestry or Natural Resource Science comment on how their careers are going? Preferably a Canadian perspective.

well, lots of trees in canada, so theres that