Reply to Did you get parental help to buy any houses you own?

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[quote=Anonymous][quote=Anonymous]My dad bought my condo when I went to law school. It was approx 150k and he put down 20%, out me on the loan with him, and paid the loan on it for the first 3 years while I was in law school. I lived rent free during law school, though I did pay for some utilities etc when I had earnings from summer positions. When I graduated law school and started my first full time law firm job, I took over the loan payments and all association fees and utilities full time. I stayed there for another 4 years. That condo I eventually sold for approx 240k, which proceeds my fiancé and I used to buy our first place together.  That next place we eventually sold and bought our house in DC with all the equity we had at that point in time plus approx $50k gift from my husband's parents for the down payment for the DC house. Now we moved out of DC and used the equity from the DC house sale to purchase this house.  So the gift from 20 years ago from my dad has grown exponentially for us and really allowed us to be on the "property ladder" fully the whole time in a way we didn't really foresee at the time but has been extremely lucky. [/quote]

This sounds nice, I would like to do something like this for my children. The one million dollar handouts are so outrageously lucky. So ridiculous. Most of our friends in our rich neighborhood got the same handouts. So incredible to think how much harder we had to work to land in the same spot. [/quote]

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