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Reply to "Is this possible without family money?"
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[quote=Anonymous]I would guess family money, because everyone I know in DC who bought houses over $1 million who was in BigLaw at the associate level, or double fed (so about $300K combined), got some family money help. Three examples I can think of it was an inheritance (parent died young), another example it was a gift to help with down-payment. It is possible if you were very frugal and/or managed not to have law school loans, but it would be tough. And people on here are assuming BigLaw associate salaries and bonuses are much higher than they usually are. Maybe he's billing 2600+ and making $100K bonuses, but that is not the average at all. If he is 7/8 years out, and got a full ride to law school (which is also unusual) he could easily have an extra 100-200K saved as that is not going to loan payments, but that would still not put a huge dent in 1.6 million. And it is certainly possible if they were unusually successful in some other way (sold an early property for hefty profit, saved a bunch before wife stayed home, lived super-cheap before buying house). But like you, I'd bet its family help.[/quote]
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