My wife and I are immigrants living in the bay area on H1B visas. Our combined net income pre tax is ~220K. We purchased a house last year for ~800K as our 1BHK rental at $3K made no sense long term

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“net income pretax” makes no sense

likefunny

@OP That’s called gross income bud.

And?

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With combined AGI of 220k, doesn’t make sense to buy a home worth 800k unless you’re gonna get promoted and grow quickly

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It’s a matter of risk tolerance. Unsure if you get anything decent for less than 3K in rentals within the Bay Area. So some people are more comfortable with paying rents and others are with streching a bit more to own. Totally depends on your life style.

Nice flex?

Nope. Just sharing. The current economy is hard for everyone but the stress for immigrants in addition to the economy by the current administration makes it much worse.

With the current economy though the situation seems crazy and more stressful. Any tips on what best we could do with our funds. We have put most of our savings in Marcus but trying to find something with a better rate of return. We have some money rotating in the market but are vary of playing around too much. Just been buying QQQ recently and nothing else. Any suggestions are welcome.

All depends on your time horizon and what you want as a better return. You should be investing in retirement accounts, savings (HYS, Money market, CDs) and, if preferred, into other financial market products such as stocks, ETFs and mutual funds.

Invest in the market more heavily. There are so many levers you can pull with income like that . Take a few risks and good luck

My parents got a $1,000,000 house in the Bay Area during the dot com bust on a smaller salary. That’s a great deal for the bay especially now. You’ll make it work

Agree D2. We had got a $900k home in Bay Area 3 years back. We were in similar range. Today we are 2.5* in AGI. So can pay it off any day we want.

Nice!

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