Yet another plot is brewing. We're just going to look for a rental up in the canyons, and then invest in property someplace we want to live once we can afford to leave OC. The big problem with buying in the canyons is that anything affordable has an agent that wants all-cash offers. We don't have $175k lying around. Anything in finance-able condition is over our self-imposed cap of $300k. Plus there's a high fire risk and in some cases homes are only insurable through the state insurance programs. Ick. So renting is looking like our best alternative.
I found a very promising 2/1 for $1675 this weekend; Dan will go up and see it at lunch today. We also attended a "Welcome to the World" party for our friends Andrew & Laurel's new baby, Gryphon. While at that party, we started chatting with their friend Annemarie, who owns some rental properties in Modjeska Canyon. See where this is going? Turns out she has a 1000 sf 2-bedroom she rents for $1600 and the tenant is probably going to give notice in the next month or so.
Modjeska Canyon is nice. I wouldn't mind it at all. We'll have to downsize, but we'd have to do that even if we bought a place. And paying less money in rent every month will make it much easier to swing a small payment on whatever faraway property we end up buying, and still keep up with our savings. I feel very peaceful with this idea - the only potential snag would be if Annemarie's tenant decides to stay.