Another new law for you Californians

Wow, pretty strict. I'm actually ok with that law though, not that I live in California or anything. I can't stand when I hear something on the news like a "A family of 5 dies in their sleep due to carbon Monoxide poisoning." I usually hear a story about CM deaths a few times a year. It's completely preventable and unnecessary if you're willing to go get one of those alarms..

But you're right Bill, it doesn't make anything easier for the people in California Country :/

I get it that not everyone likes California. Actually there are a whole lot of people that seem to think everyone in California is either on drugs or making movies. Fine if that's what someone wants to think. I happen to like it here in my Mediterranean climate and in the central valley where I have access to fresh food year round at the farmers market. I can drive in any direction 30 - 90 minutes and find myself at Lake Tahoe or at the ocean or in a winery. The state is so diverse it is unbelievable. We have more people in the state of California than there are in all the provinces of Canada combined. I chose to live here in the winter of my life as opposed to my native state of Colorado. It is equally as beautiful but I live alone with a flock of parrots and I really do not want to have to deal with below "0" temperatures and shoveling snow. I love snow and think it is beautiful but I choose not to live in it and I prefer long rainy winters and long hot summers. What can I say. It's lifestyle. I have actually lived in several states and visited some states in the east. Everywhere I have ever lived I have found beauty in my surroundings and found that it usually took up to a year to get fully acclimated. Not only that but I don't care where you live in the United
States as you will find good and bad no matter where it is. I find it is the same with a job having just worked 20 years for one company in a call center. Some people would complain and move on only to find new issues or reason to complain at the new job. I always said that I knew what ups and downs were where I was and did not want to have to get use to other negatives somewhere else.
With regard to the new law on carbon monoxide alarms, I am ok with that as we are trying to save lives. We are kept informed on the daily news CBS, ABC, NBC and in the Sacramento Bee. We already need to have smoke alarms as a matter of code. I just thought I would respond and give a new perspective, another point of view. I figure to each his own and there are a lot of other places that I would never want to reside. Know that I am not upset with you Bill. We are all entitled to our own opinion and I thought I would exercise my right to free speech. I will admit that we have lots of problems here in
California but these days can you tell me of any state that does not have issues.
What I really need right now is first hand experience with wholesaling before I wind up homeless. A few minutes ago I saw something about a deal reached on the debt ceiling issue. I was really afraid they would find a way to keep me from getting my social security payment. That would have been a disaster for me. I choose to believe there are endless opportunities out there and I just have to be open to seeing and finding them.

The rest of the states will follow... they always do

Bill-thanks for sharing.
I already have a CM alarm in my house, and I'm glad I do... I'll just make sure I have one in all my rentals everywhere, not just the one here in Cali.

Esteanna, I agree with you; Cali is a great place to live!

Wishing everyone success,

Valerie

I think California is a great place to visit. It has many things going for it, especially the items that you mentioned. I have visited many parts of your state and I am in awe of the natural beauty that is California. Sequoias, Redwoods, Death Valley, Pacific coast, San Francisco's Fisherman's Wharf, Beverly Hills, San Diego, Ocean sunsets and the rest are above reproach. And the agricultural splendor is amazing. California grows half of the country's fruits, vegetables and nuts. San Joaquin and Napa cannot be reproduced anywhere. CA is also the 7th largest economy in the world if it was its own country. It is a leader in technology with Silicon Valley. These are the good things.

But CA has some real serious problems caused by its lack of political leadership. It's social service network is overburdened because of illegal immigration. It's tax rate is the second highest. It's foreclosure rate is 3rd in the country. It's unemployment rate is 11.8%, the second highest in the country. It has the 3rd highest cost of living; only after HI and AK.
It is the 2nd worse rated business climate in the nation; only after NY.

While I could go on about the state from a statistically viewpoint, the only thing that matters is "are you happy there?" If you are, what else would you need?

You have it all correct. Yes, we absolutely have a lot of problems out here and it breaks my heart. I am happy out here or at least as happy as I can be on my own. There are some things that could make my life more complete. Whatever will be will be - - - -
I love reading your postings and that you keep up on all the stuff going on.
The thing that would make me most happy right now is to do deal number one and since I am flat broke I have got to match a buyer to a seller. I am looking to real estate to provide for myself until I go home to my Lord and Master.
I just have to look past the California problems to the best of my ability and work REI. Keep in touch Bill.

"But CA has some real serious problems caused by its lack of political leadership"

Bill, you left out the absurd unsustainable state employee pension system.

putting CO detectors in my rentals here at the beginning of the year in anticipation of this one.

Pros: Love the climate here (don't miss the midwest humidity one bit!), and being a stone's throw away from the snow in the winter, but able to come back to 'no snow' in a jiffy. Beautiful, except the monstrosities of concrete jungles that have amassed in the big cities. Close to EVERYTHING, and so many places to go. Culture and a huge melting pot here in LA. Our wildlife and birds are AMAZING. And our parks and scenery cannot be beat!

Cons: Hate the overlly liberal environment and terrible business environment. C'mon... $800 a year just to SAY you have an LLC? (regardless of profitability). Rude people in a rush all the time, too busy to say hi, (but I love my small little town ) and don't even talk about traffic congestion. Ulllgghh! A 'cheap' property in my neck of the woods is $200K. cheap, cheap, cheap... hear the birds?

the state pension system??? do you have any idea of how much state employees retire with??!! if you're talking from what you've been listening on the news, then you probably don't have a clue!

Just to enlighten you a bit: for a state employee to retire with 100% of his salary, which is average of $3000/month, they have to work for 40+ years and be 63+ years old! The average state employee that retires with 25 years of service and 55 years of age will receive 50% of their salary!
Did you know that state employee contribute every month to their pension? and it's been increased this year!
The state pension accounts for only 2% of the state budget-did you know that?
Did you know that our last governor, Arnie, actually asked Calpers to loan the state money without any recourse??!! (Calpers did not loan the money-luckily!)

This whole pension news is publicized by the private sector who by the way, earn about 10x more than a state employee, and who would love to see some of the state businesses, for example, the department of transportation, to be privatized, and then make even more money, without having anyone do the check and balances on them!!

By the way, I don't know any state employees who are millionaires or who receive annual bonuses!

Valerie

Yeah Calif. is great to live in, but it is harder to get started here with investing without any of your own $. Also, after paying Essential Plans $2760 to set up an LLC we discovered we still owe Calif. $800 per year (LLC taxes) whether we make no money or 10k.
So feel fortunate all you investors who live in other states, it may be a better place to be to make your investment goals!

Andrew

That law has been in effect here in NY for a few years. And when you do any remodeling here and you open up drywall you have to install hard wire to them.

are that much better of right now... many of our problems here in Cali can be seen countrywide.

All those states that have laid of workers galore?

LA, MI, MS, KS? Just think of the flood disasters and tornadoes that have left thousands and thousands of people homeless.

Florida?? wouldn't live there if you paid me to!

NY?? I lived in CT 20 years ago-can't live with the endless days of snow...

OH?? like to invest there, but wouldn't live there either...

UT? no thank you

OR? too much rain

and the list goes on...

I agree with Keb (Hi!), we do have our share of issues (speaking of one, I need to go pay for my car sticker before late payment kicks in!), but I like the diversity, I like how we take care of our environment (In some states they don't even know what the word recycle means!)

Valerie

Valerie...over 78% of Calpers employees who retire with 21 years of service receive pensions of $35,000/yr
http://www.lhc.ca.gov/studies/204/Report204.pdf
page 31

"Up and down the state, cities, counties, and fire and water districts rewarded employees with “golden handshake” agreements that provide extra service credit to retire early; introduced favorable methods to calculate pension benefits based on the single highest year of compensation; and lowered retirement ages that extend the government’s obligation to pay lifetime retirement benefits. These actions further burden pension plans that already are unsustainable.
page 1

Re pension spiking
In one of the more extreme cases, a 50-year old Moraga-Orinda Fire District chief retired in 2009 with a final salary of $185,000 and a pension of $241,000. He went back to work at the fire department as a consultant at an annual salary of $176,000. “People point to me as a poster child for pension spiking, but I did not make these rules,”
p 35

The above is from a govt study, not the news or the private sector.

Val today HSBC Bank announced it it sold all it's branches in NY and a few out side the state to one of our local banks Canandaigua National Bank. Just some info.

exiting the United States as they do not see the growth returning here. They are going to focus on Asia. They are currently shopping to get rid of their credit card business.

35K a year won't buy you much in Cali... as you point out, that's what 78% of state employees retire with... of course there're always people who find the loopholes and abuse the system...

35K may buy your more in other states that don't have that many 'issues', and cheaper cost of living...

I guess I picked the wrong career- I should have been a firefighter!

Valerie

Jim,

and more layoffs to follow, I'm sure...

Bill,
of course, everyone is focusing on Asia...
how's the housing market in Asia??

Best not to read the news... too depressing!

Valerie

Erik,

that is hilarious! and as you say, sad too!

We don't get to see cops in rollerblades in Norcal

I think carbon monoxide alarms are a good thing to have; especially in a rental place- you don't want something bad to happen to your tenants, and then get sued because you didn't have an alarm??!!

Learning and progressing every day,

Valerie

Erik,

see? if you were in Cali people would not ask you how you eat

Very true about the dead batteries in the smoke detectors... but then they start making those annoying beeps, so what do you do? you disconnect them!

crazy (sad) world we live in... and it gets worse by the day! new technology... new laws!

Hope you enjoy riding your bike though! you should post your pic with it!

Valerie

that is so true! I think you just described me and my smoke detector(s)! but you forgot to mention that as soon as one starts beeping, somehow the others follow suit!

I hope the fan of $100 bills will be from your rei deal!! ... but why the hamburger??!

Valerie

"35K a year won't buy you much in Cali... as you point out, that's what 78% of state employees retire with... of course there're always people who find the loopholes and abuse the system..."

You have to remember that $35k/yr is after only 20 years.