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Los Angeles for 2-yr fellowship - Rent vs buy

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  • #16
    I lived in a single bedroom 4 minutes by bicycle from my hospital in Hollywood during residency. Everything transport was so easy compared to the attendings driving in from up to two(!) hours away. My wife and I still fondly look on that as one of our favorite times in our lives.

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    • #17
      Rent.

      I wish there was more feedback on these questions a year or 2 later.

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      • #18
        Originally posted by Brains428 View Post
        I wish there was more feedback on these questions a year or 2 later.
        I assume that those who go against the prevailing advice are too broke to afford internet to come back and update us. It's the only logical conclusion.

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        • #19
          It seems like this could work. But so easy to find ways that it won’t work. I would rent over and over again. No brainer.

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          • #20
            Originally posted by G View Post
            I know Jim doesnt read the forum, but this is a good example of the messaging coming out of the WCI empire. On the one hand: don't buy til a few years into your attending job and no doc needs real estate to win. On the other: post after post about real estate investing and passive income and Coach Whomever's course.....
            I think he does read it at least sometimes, he'll chime in with posts fairly regularly.

            But there is certainly some cross-messaging at times. A lot was coming out of the Facebook group, which they are apparently moderating more heavily now.

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            • #21
              Originally posted by michaelavillion View Post

              My annual income is 118K.

              I have been listening to a few audiobooks and real estate investing, and want to build steady wealth this way (buy property (if it is wise) in each place we PCS) and rent it out when we leave, so eventually have a large portfolio of homes.

              but I also don't want to just rent a place when I could be building equity...

              Anyone have any advice?
              You might be a great surgeon but your financial knowledge has large Swiss-cheese holes. The three statements you made that I have quoted above, will attest to it.

              You might need to take the WCI course and not try to become a real estate mogul on a military salary.

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              • #22
                Originally posted by CordMcNally View Post
                I made my decision from the thread title alone. No other information necessary.
                I usually do, too, for these house and car threads. As soon as I read the two words, “Should I...,” the word “No” is already forming on my lips.

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                • #23
                  I know I may not be following the herd here but I would rent in this situation.

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