Life decision: taking a risk with my bankroll

[nation]

I don't really know what I'm trying to get out of this post, other than hopefully reassurance that my decisions aren't completely ridiculous. I also put this in psychology to hit up the guys who frequent that forum.

Basically, I'm about to move to LA into a really nice house. Rent/month/person is about 1400. It's pretty big, but at the time that I decided I was going to do it, my bankroll was pretty big.

Since then, I've taken about an 8k hit to my roll because of a big downswing, and because I'm learning 6 max at the same time. I used to 13 table full ring and made about 6k/month at the 200nl level.

Right now, my life savings is about 23k. 5k of that is in an investment that won't mature for awhile, so effectively, I have 18k. Our security deposit totals 35k, so my share is 7k. So after giving that up, I'll effectively have 11k, while having to pay 1400/month in rent alone.

I'm basically committed to going through with it...but is my decision to do it completely crazy? Can I support this lifestyle playing 200nl 6 max? I'm not even sure what my long term winrate at 6 max is yet. I'm pretty worried that we'll somehow get screwed, and won't get much of our security deposit back. I've never heard of such a large security deposit, although the place is furnished really well. We're all responsible for anything getting damaged obviously, but that won't stop them from nitpicking and taking large portions of it.

Should I just get a camcorder and record everything to protect myself from that?

My main question is, is the juice worth the squeeze? The benefits of moving to the new place is 1. Vegas sucks. I never meet anyone here because everyone is a tourist. I basically hang out with the same 4 people everyday; while that is fun, I really don't have a social circle. 2. I will be living in a house with 4 other poker players who are all much much better than me. They're on a completely different level bankroll/skillwise. I'm new to 6 max and still learning, so I will improve tremendously I would assume.

The original reason for moving to LA was I became good friends with Slider and Billyjex, and we decided we needed a change of pace from Las Vegas. It made sense to move in with other poker players because the environment would be stimulating so we could keep improving.

The negatives are my somewhat short roll and the big living costs.

Any advice would be greatly appreciated. I mainly want to know if I'm crazy for doing this.

[A S U]

If poker is your only way of making monies, then yes you are crazy. Also 35K deposit? That is insane. That's like 4-5 months rent?

[emon87]

It's absurd to pay $1400/month in rent (remember you have to pay for food/gas/etc. also). Why LA? Why not somewhere cheaper. LA is not great enough to be worth it. You are going to be paying 1/10th of your cash in a month's rent. That is so incredibly stupid, I can't put it into words.

[PITTM]

that is the most ridiculous security deposit ive ever seen. i thought renters laws prohibited the deposit from being more than like 2 months rent or so.

rj

[gumpzilla]

A security deposit of 4 months rent does seem a little high to me. And yes, when the amount of money involved is that large I would document the [censored] out of the condition of the house before you move in. I'm pretty sure that in a lot of places there are stipulations that the landlord has to inspect it with you if you request and you can agree on the status of it beforehand. That won't necessarily help you without more documentary evidence, so I'd back that all up.

If you're trying to be a poker pro and you can't pull in enough beyond $1400/month playing NL200, I think you have bigger issues looming than whether this is a good idea or not. That's really not very much money.

[Abones]

I wonder how your roomies feel about this huge risk.

[Thremp]

ASU,

Deposit is very very standard if I'm guessing the occupants ages/income/credit history. Correctly.


Young/Not provable/Non-existant

[A S U]

[ QUOTE ]
ASU,

Deposit is very very standard if I'm guessing the occupants ages/income/credit history. Correctly.


Young/Not provable/Non-existant

[/ QUOTE ]

Yeah I didn't take into account that these guys are all young and probably don't have very established credit.

[punkass]

I would imagine even people with really bad credit would have a security deposit of maybe 2 or 3 months rent. I haven't heard of 4.

Unless you really love this place, really want to live in LA, or there's something else you're not telling, I wouldn't move. Your bankroll takes a huge hit at the worst time. You could easily go busto and have a huge rent bill.

[administrator]

4 months security deposit is too much. Looks like the most they can charge is 3.5 if you have a waterbed, 3 without.


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