s/o--so how did you afford a 2 million dollar home?

[Anonymous]

Buy a $500,000 house and 15 years later, voila.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We recently moved to DC. My spouse and I are/were both in BigLaw. Where we came from, BigLaw paled in comparison to the wealth of any investment banker, hedge fund type, finance guy (or girls, but pretty much all guys). Does this sector just not exist in DC or what?? BigLaw types could've been in 1-2M homes as young, successful partners with a lot of hard work (mid-late 30s), 2+ million w/ luck on selling a previous place, lots and lots of saving and having kids later rather than earlier, and/or family. But it was the finance guys at the same age and amount of experience (VP, young directors/MDs) that were the ones always in the 2+ millions places at late 30s, early 40s.

We (finance - PE/hedge fund folks) do exist here.. but just not that many of us! DC is a lawyer's town and NY a banker's. So when people here say big money, they think biglaw partners.

There have been plenty of start-ups, tech company IPO's, etc. that have made people millions. Those are the people that go plunk down millions on a home.

[Anonymous]

We have a million-dollar mortgage and about 500 thousand HHI.

[Anonymous]

Anonymous wrote:Speaking only for myself, I made a career in gay porn. Very lucrative.

+1

Us too. We supplement it by also selling crack to the people in the $4m homes.

[Anonymous]

Anonymous wrote:WHAT??!! Where are you your information, pp? No one I know has purchased their 2m home under a corporation. Who on earth do you think developers sell to? You make no sense.

To your disbelief, some people do have enough of their own money to pay cash for 2m homes, so they do. No corporation involved. It is best for them. Just because you do not want to accept this, or dont know anyone who has done this, does not mean it doesn't happen all the time.

+1

I know plenty of people in $2+ homes who paid cash. They happen to have enough to do so. No family help (one or two have more than one inheritance, but that is all - not most). Just great investments.

I also know people who are slumlords who are mortgaged up to their necks. Not very wise, but they seem to think they know it all.

Why are you asking, if you don't want to know the truth?

[Anonymous]

We bought a $1 million home and renovated it up to somewhere north of $2 million.

[Anonymous]

Anonymous wrote:We bought a $1 million home and renovated it up to somewhere north of $2 million.

How do you even do this? Did you use $100 dollar bills as insulation? $1 million is a hell of a lot of marble and gold leaf.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Speaking only for myself, I made a career in gay porn. Very lucrative.

+1

Us too. We supplement it by also selling crack to the people in the $4m homes.

I grow pot in my basement

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought a $1 million home and renovated it up to somewhere north of $2 million.

How do you even do this? Did you use $100 dollar bills as insulation? $1 million is a hell of a lot of marble and gold leaf.

No, we didn't spend anywhere near $1 million on the renovation. But the basic renovations brought the previously crappy house up to the level of others in the neighborhood, so its value now is somewhere above $2 million.