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70% of my IRL friends who own house had parents pay

the down payment, sometimes the downpayment was like 500k ...
.,.,....,,,...,....,,,..........,
  11/20/20
...
><<(^((*> covered in gravy with yams
  11/20/20
Cr. It’s basically 100% of the people I know. And they...
TRUMPdog Billionaire
  11/20/20
Cr, I have a friend now who makes like 70k and daddy is putt...
.,.,....,,,...,....,,,..........,
  11/20/20
Would love to slit all their throats
Ricky
  11/20/20
(perfectly chill fratty breh)
.,.,....,,,...,....,,,..........,
  11/20/20
...
fairies
  11/20/20
...
'"'""'"''"'
  11/23/20
oh wow thanks for the post about asians and jews
tom kike
  11/20/20
two of these people are europeans, not jews ever wonder w...
.,.,....,,,...,....,,,..........,
  11/20/20
So they just blatantly ignored gift tax rules?
ominous gulp
  11/20/20
There's a lifetime exemption that applies. Tax Implicatio...
.,.,....,,,...,....,,,..........,
  11/20/20
This is why you set up your estate as a trust, that avoids t...
JohnPaulStevens
  11/21/20
So does that mean in addition to the annual gifting limits p...
DatNiggyTB
  11/21/20
pretty much
.,.,....,,,...,....,,,..........,
  11/21/20
There are like ten different types of trusts. Some do that. ...
ominous gulp
  11/23/20
You can make a $300,000 loan to the kid and you+wife can for...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/20/20
One weird trick (that I'm definitely going to remember)
.,..,....,.,.,.,:,,:,..,:::,....,,:,.,.:..,:.::,.
  11/21/20
...
flamboyant gamine
  11/21/20
This is exactly what we did, to deal with the fact that pare...
JohnPaulStevens
  11/21/20
woah
racist social media posts
  11/21/20
You do have to charge an IRS-defined minimum rate of interes...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
youre obviously fucking the kids with 30k more pretax income...
,,,,,,,,,,,.,,,,,,,,,,,,,,,.../.,,
  11/21/20
No. You and your wife each can give them up to $15,000 tax f...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
Once that’s paid out, can they still give 30k? I never...
ominous gulp
  11/23/20
What do you mean? You can't give another $30K on top of $...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/23/20
Are you sure? I need to fire my tax lawyer if this is the ca...
ominous gulp
  11/23/20
That's exactly what I said. You can give a single $30K in a ...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/23/20
You answered my question fine. I just wanted to know if the ...
ominous gulp
  11/23/20
You can't do $30K of loan forgiveness and a $30K gift in one...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/23/20
Thank you. I’m dumb I thought you said people can do t...
ominous gulp
  11/23/20
this shit makes me incensed We need to kill everyone who ...
Ricky
  11/20/20
...
boomerboat
  11/20/20
they are now american citizens, bro but yeah for the most...
.,.,....,,,...,....,,,..........,
  11/20/20
...
><<(^((*> covered in gravy with yams
  11/21/20
It is truly disgusting how little the USA does regarding thi...
Refunkulus
  11/22/20
this. great community near us went from being US citizens, ...
....,..,.,.,.,.,.,..,.,.,.,.,.,.,.,.,.,.,.,
  11/25/20
...
fairies
  11/20/20
My wife’s mom gave us $10k which we used for new floor...
Mint Jelly
  11/20/20
20k isn't that much these days given housing prices. We only...
.,.,....,,,...,....,,,..........,
  11/20/20
I saved another $20k so it was just enough to make financing...
Mint Jelly
  11/20/20
yes my friends who make like 1/3 my salary will live in a mu...
.,.,....,,,...,....,,,..........,
  11/20/20
I’d say it gets better over time but not really. One...
Mint Jelly
  11/20/20
Did you keep the house? Sounds like it would’ve been a...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
Would have loved to brother. But I needed to pull the cash ...
Mint Jelly
  11/21/20
Gotta do what you gotta do. This is basically what we did...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
Can you explain in more detail 1) buy 900k house 2) r...
Paralegal Mohammad
  11/21/20
This is the poaster I am responding to: “My wife&rs...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
Smart. You are completely right. I was thinking the same thi...
Mint Jelly
  11/21/20
Thanks. We kind of got lucky on this a bit as I don't come f...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/23/20
180
Mint Jelly
  11/23/20
ty.
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/23/20
my parents are severely mentally ill and destitute but I'm g...
Queensbridge Wilbur
  11/20/20
our parents are incredibly cheap and stingy. we got like 25k...
.,.,....,,,...,....,,,..........,
  11/20/20
fuck off troll
Queensbridge Wilbur
  11/20/20
25k wasn't even 1/4 of the downpayment housing is pretty ...
.,.,....,,,...,....,,,..........,
  11/20/20
I'm aware of this because despite not having five figure sum...
Queensbridge Wilbur
  11/21/20
I have had a really tough time not becoming a bitter/angry a...
ominous gulp
  11/21/20
...
Queensbridge Wilbur
  11/21/20
every time you start to get bitter, just think, at least i'm...
.,.,....,,,...,....,,,..........,
  11/21/20
Wait five years and I’m sure it’ll be the same o...
ominous gulp
  11/23/20
Yeah it sucks but if you're a professional you don't really ...
........,,,,,,......,.,.,.,,,,,,,,,,
  11/20/20
(powergoy)
Queensbridge Wilbur
  11/20/20
Maybe but only if you refi as soon as you hit 20% to get rid...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
PMI is for suckers
TURD SANDWICH
  11/21/20
lol @ this hideous chinks deadbeat kike husband that cant ev...
minecraft
  11/20/20
...
tom kike
  11/20/20
ive never paid a dime towards any loan ive taken out
tom kike
  11/20/20
800% interest on law school loans
minecraft
  11/20/20
sup
Ricky
  11/20/20
Effective/factual inheritance tax should be very high. Fort...
setstein
  11/21/20
My parents did 20% down for my first townhome, it was $90k t...
There's always a link in ?
  11/21/20
LOL. When I was a kid, I had to "lend" my parents ...
TRUMPdog Billionaire
  11/21/20
yeah i think brown tranny communists should take all of that...
minecraft
  11/21/20
Oddly enough, Brown @ sticker is the financial burden I spar...
There's always a link in ?
  11/21/20
you should also be raped, obviously
minecraft
  11/21/20
...
.,,,,.,......,.,.,,,,......,.,,.,
  11/21/20
~$4k a year was the extent of their out of pocket for my und...
There's always a link in ?
  11/21/20
was this Brown or another undergrad? I would have expected o...
.,.,....,,,...,....,,,..........,
  11/21/20
I went to an obscure public STEM school that you only ever s...
There's always a link in ?
  11/22/20
RPI?
.........,..,,,.,.,,,.,.,.,,,,..
  11/23/20
No way I was freezing my ass in upstate NY...
There's always a link in ?
  11/23/20
...
no holds barred
  11/21/20
Brother I thought I was the only one lol. My parents threw m...
Paralegal Mohammad
  11/21/20
Here’s another good one (poaster you are responding to...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
in all those net worth threads when a lot of posters putting...
.,,,,.,......,.,.,,,,......,.,,.,
  11/21/20
cr, paying for law school with loans sets people back like 5...
.,.,....,,,...,....,,,..........,
  11/21/20
...
Tutu-fueled Red PissWang Rampage
  11/21/20
went on a scholarship and took out a loan for living expense...
Live Free or Die.
  11/21/20
Parents say they’ll spot me a house if I get married a...
,...,.,.,.;,.;,.;.,..,.;,.,;,.,.;,.,
  11/21/20
...
.........,..,,,.,.,,,.,.,.,,,,..
  11/23/20
My dad picked up 2/3 of law school, and paid like $25k for a...
H.R. Puffendorf
  11/21/20
if i'm rich enough i'd pay for everythign for my kids, as lo...
.,.,....,,,...,....,,,..........,
  11/21/20
boo! fuckin nerd
minecraft
  11/21/20
I'd expect them to pay it forward with their own kids It'...
.,.,....,,,...,....,,,..........,
  11/21/20
yes
minecraft
  11/21/20
I call bullshit on OP. Why? Because I bought my first...
8========D~~~
  11/21/20
people who live in places like CA and NYC only buy houses wi...
.,.,....,,,...,....,,,..........,
  11/21/20
Without outing where I live -- I live somewhere at least as ...
8========D~~~
  11/21/20
did you get law school paid for? because this seems unfeasib...
.,.,....,,,...,....,,,..........,
  11/21/20
Yeah. My parents paid for 100% of my UG and law school. ...
8========D~~~
  11/21/20
ok, them paying for law school is a huge deal i'd probabl...
.,.,....,,,...,....,,,..........,
  11/21/20
one small trick
some joyless freak with receding hair and gum line
  11/21/20
...
boomerboat
  11/21/20
...
NURGLE
  11/22/20
Why did your parents buy you 3 condos instead of just 1?
minecraft
  11/21/20
...
.,.,....,,,...,....,,,..........,
  11/21/20
...
8========D~~~
  11/21/20
A few things to point out that helped a lot with this strate...
8========D~~~
  11/21/20
How Jewish are you?
Candy Ride
  11/21/20
Proper-White here. Goy as fuck.
8========D~~~
  11/23/20
“3) My parents paid for 100% of my UG and law school s...
I'm a chad btw
  11/22/20
Lol can’t believe that guy wrote so much bullshit befo...
Mumm-Ra
  11/22/20
Then the problem is not parents paying for down payments / s...
8========D~~~
  11/23/20
lol. Can’t imagine how much worse law would be if only...
Mumm-Ra
  11/25/20
...
.,.,....,,,...,....,,,..........,
  11/24/20
180 you are doing it right. Similar here although I’m ...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/21/20
...
cory
  11/23/20
Those of us with degenerate bum cheapskate parents should th...
,..,,,,,,....,,,...,
  11/21/20
ive never gotten 1 red cent from my parents. ug, ls, house, ...
Hunter S Biden
  11/21/20
Yup. My parents contributed exactly 0 to my education. I hav...
TRUMPdog Billionaire
  11/21/20
this is very true. notice how it's all the blue collar folks...
Hunter S Biden
  11/21/20
...
.,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.
  11/25/20
...
Queensbridge Wilbur
  11/23/20
I’ve seen a lot where the kids get a “loan&rdquo...
I'm a chad btw
  11/21/20
...
boomerboat
  11/21/20
I recently learned that it is not uncommon to have high rank...
roblox
  11/21/20
same with super expensive weddings in big cities/destination...
,,,,,,,,,,,.,,,,,,,,,,,,,,,.../.,,
  11/21/20
Smells like duck sauce and ovens ITT
Killer Joe
  11/21/20
...
boomerboat
  11/21/20
...
minecraft
  11/23/20
Lol at the proles upset about this. Who cares if parents hel...
fairies
  11/21/20
I don’t care that parents help their kids. It’s ...
I'm a chad btw
  11/23/20
Why should they have to admit it? The family name used to be...
fairies
  11/23/20
If they're not admitting to it, how do you know parents help...
8========D~~~
  11/23/20
It’s pretty obvious in a lot of cases.
I'm a chad btw
  11/23/20
Maybe in some cases. You'd be shocked how much people can sa...
8========D~~~
  11/23/20
The government takes 50% of my income. How do you save that ...
ominous gulp
  11/24/20
...
fairies
  11/25/20
that's johnsmeyer
Queensbridge Wilbur
  11/23/20
Good for those people. I hope I'm in a position to help my k...
Spyderco
  11/22/20
tcr. this used to be a board for gentlemen
modus vivendi
  11/23/20
to be fair, boomers were born at the most favorable time to ...
barnabyjones
  11/23/20
bootstrapping is hollywood propaganda, this world is nepotis...
debt ridden entrepreneurial shark tank contestant
  11/23/20
Wife's parents lent us $10k for two weeks so we didn't have ...
cory
  11/23/20
My MIL is giving us some money, but she's going to live with...
Spyderco
  11/25/20
That’s a ton of help x2. Plus she can watch the kids w...
fairies
  11/25/20


Poast new message in this thread



Reply Favorite

Date: November 20th, 2020 10:48 PM
Author: .,.,....,,,...,....,,,..........,


the down payment, sometimes the downpayment was like 500k

two of these people are non jew europeans from europe and the rest are asians/jews

lmao @ this stupid American white goy bullshit about bootstraps

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407707)



Reply Favorite

Date: November 20th, 2020 10:48 PM
Author: ><<(^((*> covered in gravy with yams



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407711)



Reply Favorite

Date: November 20th, 2020 10:51 PM
Author: TRUMPdog Billionaire (Dr. Thunder)

Cr. It’s basically 100% of the people I know. And they look down on me for not having a house. Well, to use your hero’s words, “You didn’t build that.”

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407719)



Reply Favorite

Date: November 20th, 2020 10:52 PM
Author: .,.,....,,,...,....,,,..........,


Cr, I have a friend now who makes like 70k and daddy is putting like 300k down on a 600k house

i mean bootstrapping is for legit broke dumb poor retard goy americans. what pisses me off is when goy americans have money to help their kids and then refuse to, and say "bootstrap"

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407725)



Reply Favorite

Date: November 20th, 2020 11:00 PM
Author: Ricky

Would love to slit all their throats

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407764)



Reply Favorite

Date: November 20th, 2020 11:01 PM
Author: .,.,....,,,...,....,,,..........,


(perfectly chill fratty breh)

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407769)



Reply Favorite

Date: November 20th, 2020 11:01 PM
Author: fairies



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407768)



Reply Favorite

Date: November 23rd, 2020 6:05 PM
Author: '"'""'"''"'



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423257)



Reply Favorite

Date: November 20th, 2020 10:53 PM
Author: tom kike

oh wow thanks for the post about asians and jews

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407727)



Reply Favorite

Date: November 20th, 2020 10:53 PM
Author: .,.,....,,,...,....,,,..........,


two of these people are europeans, not jews

ever wonder why goy white ameriacns are the poorest? because "bootstrap"

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407728)



Reply Favorite

Date: November 20th, 2020 10:56 PM
Author: ominous gulp (Poasts are exclusively artistic expression)

So they just blatantly ignored gift tax rules?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407736)



Reply Favorite

Date: November 20th, 2020 10:58 PM
Author: .,.,....,,,...,....,,,..........,


There's a lifetime exemption that applies.

Tax Implications of a Down Payment Gift

As previously mentioned, family members have to pay a gift tax for anything over their limit of $15,000, or a collective $30,000 from parents who file taxes jointly. The person receiving the money doesn’t have to pay taxes.

If the donor wants to give more than $15,000, they can either pay taxes or claim the money as part of their $5.6 million lifetime exemption for gift taxes. However, this decision shouldn’t be taken lightly, especially if the donor hopes to pass on a hefty estate to their heirs later on. The $5.6 million exemption applies to taxes on these funds, so using up the value now could force family members to pay tax on whatever they inherit.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407742)



Reply Favorite

Date: November 21st, 2020 11:37 AM
Author: JohnPaulStevens (K)

This is why you set up your estate as a trust, that avoids this.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409581)



Reply Favorite

Date: November 21st, 2020 12:20 PM
Author: DatNiggyTB

So does that mean in addition to the annual gifting limits per person gifted, you can exceed that by $5.6 million in free gifts during your lifetime then your whole estate in a trust passes tax free?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409782)



Reply Favorite

Date: November 21st, 2020 12:57 PM
Author: .,.,....,,,...,....,,,..........,


pretty much

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409945)



Reply Favorite

Date: November 23rd, 2020 12:48 PM
Author: ominous gulp (Poasts are exclusively artistic expression)

There are like ten different types of trusts. Some do that. Some do nothing but shield liability.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421250)



Reply Favorite

Date: November 20th, 2020 11:06 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


You can make a $300,000 loan to the kid and you+wife can forgive $30,000 per year, tax free.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407785)



Reply Favorite

Date: November 21st, 2020 4:37 AM
Author: .,..,....,.,.,.,:,,:,..,:::,....,,:,.,.:..,:.::,.


One weird trick (that I'm definitely going to remember)

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41408676)



Reply Favorite

Date: November 21st, 2020 4:48 AM
Author: flamboyant gamine



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41408684)



Reply Favorite

Date: November 21st, 2020 11:38 AM
Author: JohnPaulStevens (K)

This is exactly what we did, to deal with the fact that parents helped with first down payment

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409584)



Reply Favorite

Date: November 21st, 2020 1:04 PM
Author: racist social media posts

woah

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410003)



Reply Favorite

Date: November 21st, 2020 1:15 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


You do have to charge an IRS-defined minimum rate of interest, which is 1-2% based on length of loan (and the parents have to declare that income on their taxes) but if you’re forgiving $30,000 of the principal each year obviously charging $3000 in interest isn’t a big deal.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410070)



Reply Favorite

Date: November 21st, 2020 4:07 PM
Author: ,,,,,,,,,,,.,,,,,,,,,,,,,,,.../.,,


youre obviously fucking the kids with 30k more pretax income every year, no?

unless they don’t earn much, they’d be better off getting financing elsewhere i think

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411131)



Reply Favorite

Date: November 21st, 2020 7:57 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


No. You and your wife each can give them up to $15,000 tax free every year, hence forgiving $30,000 annually.

The whole point is to avoid tax. This isn’t really “financing”, it’s a way to give them a block sum all at once and yet avoid gift tax.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41412388)



Reply Favorite

Date: November 23rd, 2020 10:34 AM
Author: ominous gulp (Poasts are exclusively artistic expression)

Once that’s paid out, can they still give 30k? I never knew the loan hack. I thought it was just 30k a year regardless.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41420499)



Reply Favorite

Date: November 23rd, 2020 12:48 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


What do you mean?

You can't give another $30K on top of $30K loan forgiveness within a single year. The only point of the loan hack is to transfer a large sum up front while counting it as individual "gifts" below the limit over a number of years.

After the loan is at zero you can continue giving $30K per year if you want, as cash instead of loan forgiveness. Those are some lucky kids at that point.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421240)



Reply Favorite

Date: November 23rd, 2020 12:50 PM
Author: ominous gulp (Poasts are exclusively artistic expression)

Are you sure? I need to fire my tax lawyer if this is the case. I thought 30k of forgiveness would be the 30k. Not with an additional 30k of forgiveness.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421262)



Reply Favorite

Date: November 23rd, 2020 1:00 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


That's exactly what I said. You can give a single $30K in a single year (to be extra specific, you and your spouse can each give $15K; you cannot give $30K alone).

In FUTURE YEARS after the loan is paid off, you can continue to give $30K per year if you like, now in cash.

The question was phrased very imprecisely, which is why the first line of my response was "what do you mean?"

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421338)



Reply Favorite

Date: November 23rd, 2020 1:21 PM
Author: ominous gulp (Poasts are exclusively artistic expression)

You answered my question fine. I just wanted to know if the loan triggered any other restrictions after the loan was paid off. My new question was “are you sure” about the double dipping part (30k in loan forgiveness and a 30k gift).

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421443)



Reply Favorite

Date: November 23rd, 2020 5:04 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


You can't do $30K of loan forgiveness and a $30K gift in one year, without triggering gift taxes.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41422847)



Reply Favorite

Date: November 23rd, 2020 8:49 PM
Author: ominous gulp (Poasts are exclusively artistic expression)

Thank you. I’m dumb I thought you said people can do that and was totally flummoxed.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41424613)



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Date: November 20th, 2020 10:59 PM
Author: Ricky

this shit makes me incensed

We need to kill everyone who has sold property to foreigners

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407755)



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Date: November 20th, 2020 11:00 PM
Author: boomerboat



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407760)



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Date: November 20th, 2020 11:00 PM
Author: .,.,....,,,...,....,,,..........,


they are now american citizens, bro

but yeah for the most part they are all immigrant families, from asia and europe or american jews, lmao

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407763)



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Date: November 21st, 2020 11:59 AM
Author: ><<(^((*> covered in gravy with yams



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409670)



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Date: November 22nd, 2020 10:10 AM
Author: Refunkulus ((DU RAG, TIMBALANDS, FULL NUDE))

It is truly disgusting how little the USA does regarding this problem relative to other countries in the world.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41414412)



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Date: November 25th, 2020 11:34 AM
Author: ....,..,.,.,.,.,.,..,.,.,.,.,.,.,.,.,.,.,.,


this. great community near us went from being US citizens, American kids playing in streets to 85% Chinese and Persian transplant weirdos with teenagers roaring their bmws sown the street and the rest of the families sitting inside peeking out of their curtains, don't even speak English.

Their kids never come outside they play fucking violin all day and study and all have 4.9 gpas. Entire community transformed and wiped out in last 10 years. have now taken over all local political and city council/ school. boards.

Then they buy up all vacant properties and rent it out in surrounding communities, everyone who rents ends up wiring their rent to fucking Beijing

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41434638)



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Date: November 20th, 2020 11:01 PM
Author: fairies



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407767)



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Date: November 20th, 2020 11:03 PM
Author: Mint Jelly

My wife’s mom gave us $10k which we used for new flooring in our first house. My parents gave us another $10k or so. I saved a bunch for a year and so we had a down payment w PMI (until equity grew enough to cancel.). It was a new town house.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407776)



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Date: November 20th, 2020 11:04 PM
Author: .,.,....,,,...,....,,,..........,


20k isn't that much these days given housing prices. We only got like 25k, which was nice but not that much in the grand scheme of things.

My friends are legit getting 500k+. One guy bought a 2MM place with 500k down payment from his parents and they gave him a car too. He recently had a baby, so god knows what else he got. happy for him, but it sucks knowing that our parents are so cheap.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407782)



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Date: November 20th, 2020 11:07 PM
Author: Mint Jelly

I saved another $20k so it was just enough to make financing work. Ended up being cheaper than renting too, so it wasn’t bad. Actually it was a sweet little house for the two of us.

I know the feeling though. When other folks get awesome places because their parents helped out a lot. It’s a ridiculous disparity during those first years of home ownership. But we kept everything cheery and it was a good place nonetheless.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407793)



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Date: November 20th, 2020 11:11 PM
Author: .,.,....,,,...,....,,,..........,


yes my friends who make like 1/3 my salary will live in a much nicer house. happy for them, but also a bit jealous. hard to not be.



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407815)



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Date: November 20th, 2020 11:22 PM
Author: Mint Jelly

I’d say it gets better over time but not really.

One thing I’ve noticed is that people w super houses don’t really do a whole lot of stuff. I mean, they don’t use parks and dog parks and Go on hikes enjoy live music and Library and brewery and all that which every nice place to live has. Whereas if your house is smaller I think you find out those public places pretty quickly. I dunno, just a thought.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407859)



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Date: November 21st, 2020 11:00 AM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


Did you keep the house? Sounds like it would’ve been an excellent rental.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409359)



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Date: November 21st, 2020 12:11 PM
Author: Mint Jelly

Would have loved to brother. But I needed to pull the cash out for a down payment on a larger house in another city. (I had spent down my interim savings on adoption. )

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409733)



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Date: November 21st, 2020 1:13 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


Gotta do what you gotta do.

This is basically what we did, though, and for anyone else reading along, highly recommend it. The trick (as the poaster’s experience implies) is in making your *second* house inexpensive enough that it can be afforded while still keeping the first (moving before you really “need” to is one way to make that happen).

Once you start collecting rent on the first and building equity twice as fast, every other real estate purchase you make in the future is easier. Slap a HELOC on that bad boy and tap it over and over.

We made this “one right move” 10 years ago and it has honestly, over the past decade, taken us from “comfortable” to “wealthy” in terms of where we would be now if we hadn’t done it.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410057)



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Date: November 21st, 2020 1:48 PM
Author: Paralegal Mohammad

Can you explain in more detail

1) buy 900k house

2) rent it out after a couple years, buy a 600k house

3) ????

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410316)



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Date: November 21st, 2020 2:54 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


This is the poaster I am responding to:

“My wife’s mom gave us $10k which we used for new flooring in our first house. My parents gave us another $10k or so. I saved a bunch for a year and so we had a down payment w PMI (until equity grew enough to cancel.). It was a new town house.”

This does not sound like a $900,000 house when purchased and it had likely appreciated reasonably well by the time they moved.

See also: http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410805 (could’ve done this)

And: http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410223 (did do this)

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410792)



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Date: November 21st, 2020 8:08 PM
Author: Mint Jelly

Smart. You are completely right. I was thinking the same thing today after I poasted, and how I messed up only because I felt I needed to compete w the joneses w the second house. I just really felt it was time to move to a proper house. My mistake. If I got a similar little place in my new city, I could have held both and would be seeing significant returns as my old place was still in great shape. Your point is very true. You should make this info more common knowledge.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41412438)



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Date: November 23rd, 2020 12:59 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


Thanks. We kind of got lucky on this a bit as I don't come from a family of real estate investors or anything. Just decided to keep our first small house because we could and give the landlord thing a try.

Then a couple of years later, looking at how well that was going (without too much extra work--some but not bad), we thought, well, let's try to do this again.

So basically our first two houses were "small" houses that make good rentals, and then our third house, finally, was the "big" UMC house in a nice neighborhood with lots of bedrooms.

At that point, the extra income/equity cushion was strong enough to help us add another small house or duplex roughly every year (these are just pure rentals now of course; we've stayed in the "big" third house and haven't moved since).

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421331)



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Date: November 23rd, 2020 1:26 PM
Author: Mint Jelly

180

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421467)



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Date: November 23rd, 2020 5:05 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


ty.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41422853)



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Date: November 20th, 2020 11:05 PM
Author: Queensbridge Wilbur (Krugerrand)

my parents are severely mentally ill and destitute but I'm glad to hear about your IRL friends' life of leisure

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407784)



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Date: November 20th, 2020 11:06 PM
Author: .,.,....,,,...,....,,,..........,


our parents are incredibly cheap and stingy. we got like 25k

i am happy for my friends but also jealous.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407791)



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Date: November 20th, 2020 11:07 PM
Author: Queensbridge Wilbur (Krugerrand)

fuck off troll

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407794)



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Date: November 20th, 2020 11:10 PM
Author: .,.,....,,,...,....,,,..........,


25k wasn't even 1/4 of the downpayment

housing is pretty expensive these days bro

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407807)



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Date: November 21st, 2020 1:17 PM
Author: Queensbridge Wilbur (Krugerrand)

I'm aware of this because despite not having five figure sums gifted to me, I also require shelter

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410085)



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Date: November 21st, 2020 12:51 PM
Author: ominous gulp (Poasts are exclusively artistic expression)

I have had a really tough time not becoming a bitter/angry asshole for this reason. My mom is in jail and my dad is a drunkard living in the woods. But my HYP friends insist that my white skin makes me super privileged.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409917)



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Date: November 21st, 2020 1:16 PM
Author: Queensbridge Wilbur (Krugerrand)



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410076)



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Date: November 21st, 2020 1:23 PM
Author: .,.,....,,,...,....,,,..........,


every time you start to get bitter, just think, at least i'm not a jew during the holocaust

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410117)



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Date: November 23rd, 2020 10:32 AM
Author: ominous gulp (Poasts are exclusively artistic expression)

Wait five years and I’m sure it’ll be the same outcome

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41420490)



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Date: November 20th, 2020 11:11 PM
Author: ........,,,,,,......,.,.,.,,,,,,,,,,


Yeah it sucks but if you're a professional you don't really need to put a big downpayment anyway.

You only have to put down 3.5-5% for a conventional loan. PMI is actually really reasonable if you have good credit (arguably better off doing PMI and investing the additional downpayment).

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407809)



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Date: November 20th, 2020 11:11 PM
Author: Queensbridge Wilbur (Krugerrand)

(powergoy)

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407816)



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Date: November 21st, 2020 1:21 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


Maybe but only if you refi as soon as you hit 20% to get rid of it.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410109)



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Date: November 21st, 2020 4:03 PM
Author: TURD SANDWICH ( )

PMI is for suckers

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411118)



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Date: November 20th, 2020 11:14 PM
Author: minecraft

lol @ this hideous chinks deadbeat kike husband that cant even buy a house in toledo

btw pay your loans you freeloading shysters

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407825)



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Date: November 20th, 2020 11:16 PM
Author: tom kike



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407836)



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Date: November 20th, 2020 11:23 PM
Author: tom kike

ive never paid a dime towards any loan ive taken out

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407862)



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Date: November 20th, 2020 11:24 PM
Author: minecraft

800% interest on law school loans

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407874)



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Date: November 20th, 2020 11:34 PM
Author: Ricky

sup

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41407934)



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Date: November 21st, 2020 4:54 AM
Author: setstein

Effective/factual inheritance tax should be very high.

Fortune tax should be zero.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41408688)



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Date: November 21st, 2020 11:05 AM
Author: There's always a link in ?

My parents did 20% down for my first townhome, it was $90k they cut me like a $20k check. That said, they didn't really pay for college or law school beyond $300-500/month for undergrad and $0 for LS.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409389)



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Date: November 21st, 2020 11:07 AM
Author: TRUMPdog Billionaire (Dr. Thunder)

LOL. When I was a kid, I had to "lend" my parents my birthday money at times. LMAO at "only" $20k for a down payment and "only" $300-$500 a month during undergrad.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409398)



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Date: November 21st, 2020 11:09 AM
Author: minecraft

yeah i think brown tranny communists should take all of that guys shit

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409410)



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Date: November 21st, 2020 11:13 AM
Author: There's always a link in ?

Oddly enough, Brown @ sticker is the financial burden I spared my parents of.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409428)



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Date: November 21st, 2020 11:17 AM
Author: minecraft

you should also be raped, obviously

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409443)



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Date: November 21st, 2020 11:44 AM
Author: .,,,,.,......,.,.,,,,......,.,,.,




(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409615)



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Date: November 21st, 2020 11:13 AM
Author: There's always a link in ?

~$4k a year was the extent of their out of pocket for my undergrad. I get it that there are Pell grant kids (probably 1/3rd of my UG was Pell Grant), but I'm pretty sure any parent would think they hit the lottery if 4yrs of their kid's college was $16k.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409425)



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Date: November 21st, 2020 12:54 PM
Author: .,.,....,,,...,....,,,..........,


was this Brown or another undergrad? I would have expected only rich kids go to Brown

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409934)



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Date: November 22nd, 2020 11:42 AM
Author: There's always a link in ?

I went to an obscure public STEM school that you only ever see mention on any sort of rankings list if they involve either salary outcomes and/or graduates who get Phds.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41414927)



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Date: November 23rd, 2020 12:56 PM
Author: .........,..,,,.,.,,,.,.,.,,,,..


RPI?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421312)



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Date: November 23rd, 2020 12:58 PM
Author: There's always a link in ?

No way I was freezing my ass in upstate NY...

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421327)



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Date: November 21st, 2020 11:20 AM
Author: no holds barred



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409451)



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Date: November 21st, 2020 12:06 PM
Author: Paralegal Mohammad

Brother I thought I was the only one lol. My parents threw me maybe one or two birthday parties and each time they kept the money I received (which was 90%) of the presents to “pay for the expenses” of hosting my party

That said in the interests of full disclosure wife’s dad cut us $50k towards our $200k down payment. My parents? Ljl they’re gonna move in with us at some point

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409700)



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Date: November 21st, 2020 2:56 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


Here’s another good one (poaster you are responding to). He bought a $90,000 townhouse. Almost certainly could’ve kept this.

Yes, if your first house costs a million dollars this isn’t going to work, primarily because it’s either in a market where real estate is an appreciation play rather than an income play, or you overbought and it’s the kind of house no one rents, or both.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410805)



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Date: November 21st, 2020 11:43 AM
Author: .,,,,.,......,.,.,,,,......,.,,.,


in all those net worth threads when a lot of posters putting up unusually large numbers neglect to mention that their parents paid for law school and gave them a down payment on a home.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409608)



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Date: November 21st, 2020 12:52 PM
Author: .,.,....,,,...,....,,,..........,


cr, paying for law school with loans sets people back like 500k including the interest

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409927)



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Date: November 21st, 2020 12:54 PM
Author: Tutu-fueled Red PissWang Rampage



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409935)



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Date: November 21st, 2020 10:09 PM
Author: Live Free or Die.

went on a scholarship and took out a loan for living expenses. never borrowed/took money from my parents for a house either.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41413034)



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Date: November 21st, 2020 12:14 PM
Author: ,...,.,.,.;,.;,.;.,..,.;,.,;,.,.;,.,


Parents say they’ll spot me a house if I get married and have a kid, but I won’t so it’s pretty pointless.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409748)



Reply Favorite

Date: November 23rd, 2020 12:57 PM
Author: .........,..,,,.,.,,,.,.,.,,,,..




(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421324)



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Date: November 21st, 2020 12:16 PM
Author: H.R. Puffendorf

My dad picked up 2/3 of law school, and paid like $25k for a down payment.

I am saving and making high risk investments so that I have a chance to do even more for my own kids, maybe even give them enough to start their own businesses given the corporate hellscape that awaits.

That is the way the world progresses.



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409759)



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Date: November 21st, 2020 12:56 PM
Author: .,.,....,,,...,....,,,..........,


if i'm rich enough i'd pay for everythign for my kids, as long as they are making good money, have a legit career and are investing that money - they can't be a fucking starving artist do jack shit all day

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409940)



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Date: November 21st, 2020 12:59 PM
Author: minecraft

boo! fuckin nerd

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409963)



Reply Favorite

Date: November 21st, 2020 1:00 PM
Author: .,.,....,,,...,....,,,..........,


I'd expect them to pay it forward with their own kids

It's a lot better to have money early in life, than as an old fuck. Money is practically useless when youare old and decrepit

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41409970)



Reply Favorite

Date: November 21st, 2020 1:37 PM
Author: minecraft

yes

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410225)



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Date: November 21st, 2020 1:36 PM
Author: 8========D~~~

I call bullshit on OP.

Why?

Because I bought my first condo ~1.5 years after law school in a tier 1 mega-expensive city when I was ~26 years old. I could easily afford the down payment with ~1.25 years of biglaw savings and saving from being a summer associate. I had plenty of cash left over afterwards in fact. A few years later I bought a second condo (kept the first). A few years later I bought a third condo (now have three).

Did my parents help with any of this? No.

However, people always ASSUMED that my parents helped me out.

I have one jealous friend in particular who makes a point to always point out how my parents helped me out to other people when I'm not around.

People generally almost always make some comment implying that my parents helped me out when it comes up on conversation I own my apartment.

Do some people get helped by their parents? Yes. But in a tier-1 city there are a shit load of people in their 20s and early 30s who make enough to afford to buy without any help from their parents.

That said, the reality is that 90% of people have a prole mentality towards money and spend most of it on useless shit. Then they get pissed off at people who are smart with their money and invent narratives to hide the fact that they have a prole-mentality towards money.

I made ~$170k my first year of biglaw. Take home was probably around $110k. I think I saved something like $65k that first year. I lived in an apartment with 3 friends and my rent was low. It was 180. None of my friends made good money so it was easy to have a lot of fun spending no money. We'd pregame at our apartment, go out drunk and spend like $10 the whole night.



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410223)



Reply Favorite

Date: November 21st, 2020 1:37 PM
Author: .,.,....,,,...,....,,,..........,


people who live in places like CA and NYC only buy houses with parental help. good lck affording a 2MM home with a biglaw salary.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410229)



Reply Favorite

Date: November 21st, 2020 1:47 PM
Author: 8========D~~~

Without outing where I live -- I live somewhere at least as expensive as the most expensive places in those states. I am now in my early-mid 30s. And I own ~$3,000,000 worth of real estate. This will be up to around ~$4,500,000 soon since I'm in the market looking for a new place. Help from parents? Nothing. Unless you count the money they put up for my wedding to match the money put up by my inlaws.

And my salary is below biglaw. I went inhouse after ~1 year of biglaw.



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410303)



Reply Favorite

Date: November 21st, 2020 1:50 PM
Author: .,.,....,,,...,....,,,..........,


did you get law school paid for? because this seems unfeasible, unless your wife's family gave you money



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410325)



Reply Favorite

Date: November 21st, 2020 1:57 PM
Author: 8========D~~~

Yeah. My parents paid for 100% of my UG and law school.

I just made a poast below that basically responds to your point.

Having my GF (now wife) as a roommate paying for half of my costs helped out a lot.

I also used a cash-out refinance on the first place to help with downpayment for the second place. And I used a cash-out refinance of the second palce to help with downpayment for third place. (That said, I actuually didnt need to do this and had the cash for a downpayment even without doing this)

Real estate is all about being smart with leverage.

I came into all of this with an advantage in that I grew up around a lot of real estate. My father doesnt work in real estate, but was always a very active investor. Same with my extended family. And a bunch of my family friends growing up were heavy-hitting real estate Jews.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410377)



Reply Favorite

Date: November 21st, 2020 2:16 PM
Author: .,.,....,,,...,....,,,..........,


ok, them paying for law school is a huge deal

i'd probably be at least 500k richer if my parents paid for law school. if we're talking stock investments, maybe even like 800k richer

but yes knowing how to play the system matters

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410502)



Reply Favorite

Date: November 21st, 2020 2:18 PM
Author: some joyless freak with receding hair and gum line

one small trick

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410516)



Reply Favorite

Date: November 21st, 2020 3:36 PM
Author: boomerboat



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411009)



Reply Favorite

Date: November 22nd, 2020 12:17 PM
Author: NURGLE



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41415132)



Reply Favorite

Date: November 21st, 2020 1:39 PM
Author: minecraft

Why did your parents buy you 3 condos instead of just 1?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410241)



Reply Favorite

Date: November 21st, 2020 1:40 PM
Author: .,.,....,,,...,....,,,..........,




(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410250)



Reply Favorite

Date: November 21st, 2020 1:43 PM
Author: 8========D~~~



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410269)



Reply Favorite

Date: November 21st, 2020 1:54 PM
Author: 8========D~~~

A few things to point out that helped a lot with this strategy I described above. I got particularly lucky in many ways and also played my cards particularly well.

1) Most of this whole time I've had my GF (now wife) living with me and paying me rent. For the first two apartments, she covered basically 50% of my all-in costs. For the apartment we currently live in, we own together. I pay for 2/3rds of everything, she pays for 1/3rd.

2) I started all of this near the bottom of the market after the financial crisis. Not the very bottom, but low enough that I've enjoyed very good increases in value.

3) My parents paid for 100% of my UG and law school so I've never had any non-mortgage debt my entire life.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410354)



Reply Favorite

Date: November 21st, 2020 3:28 PM
Author: Candy Ride

How Jewish are you?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410964)



Reply Favorite

Date: November 23rd, 2020 1:07 PM
Author: 8========D~~~

Proper-White here. Goy as fuck.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421372)



Reply Favorite

Date: November 22nd, 2020 10:09 AM
Author: I'm a chad btw

“3) My parents paid for 100% of my UG and law school so I've never had any non-mortgage debt my entire life.”

Wow, one weird trick to save up for a down payment.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41414411)



Reply Favorite

Date: November 22nd, 2020 12:05 PM
Author: Mumm-Ra

Lol can’t believe that guy wrote so much bullshit before admitting law school was paid for. Of course most first year associates would rather put that money in a condo than paying off loans but most don’t have that luxury. The place I lived as a first year appreciated 4x by now.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41415054)



Reply Favorite

Date: November 23rd, 2020 6:13 PM
Author: 8========D~~~

Then the problem is not parents paying for down payments / school. The problem is people being fucking idiots and taking out unreasonable abounts if debt to finance school.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423298)



Reply Favorite

Date: November 25th, 2020 2:25 PM
Author: Mumm-Ra

lol. Can’t imagine how much worse law would be if only the shitheads whose mommy’s and daddy’s paid for everything went to law school.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41435688)



Reply Favorite

Date: November 24th, 2020 1:04 AM
Author: .,.,....,,,...,....,,,..........,




(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41426163)



Reply Favorite

Date: November 21st, 2020 3:02 PM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.


180 you are doing it right. Similar here although I’m only up to $1.6M in real estate. Lower income than you, though, and SAHM wife.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410823)



Reply Favorite

Date: November 23rd, 2020 6:26 PM
Author: cory



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423374)



Reply Favorite

Date: November 21st, 2020 3:09 PM
Author: ,..,,,,,,....,,,...,

Those of us with degenerate bum cheapskate parents should thank them for inadvertently teaching the most important traits: independence, self-reliance and thrift.

I know kids of rich people who have never held a job. Total fucking losers and they know it, wracked with depression and anxiety, would have no idea what to do if mom and dad or the trust fund stopped dropping the monthly deposit in their account. House full of Star Trek garbage and shitty untrained dogs, no kids of their own, fat, bored, prematurely aging.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410867)



Reply Favorite

Date: November 21st, 2020 3:09 PM
Author: Hunter S Biden (gunneratttt)

ive never gotten 1 red cent from my parents. ug, ls, house, wedding... nothing. i went to work right after hs and went to college at night, and they made me pay rent until i bought my own house.

threads like this are very distressing.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410868)



Reply Favorite

Date: November 21st, 2020 4:18 PM
Author: TRUMPdog Billionaire (Dr. Thunder)

Yup. My parents contributed exactly 0 to my education. I have no inheritance. So many snobs who are all about open borders & free everything were gifted a shit ton from family money.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411193)



Reply Favorite

Date: November 21st, 2020 5:47 PM
Author: Hunter S Biden (gunneratttt)

this is very true. notice how it's all the blue collar folks worried about immigration. meanwhile people with money or who don't work jobs displaced from immigration want to wave them in.

it's also funny/depressing that big brain libs just laughed at the dumb rednecks for worrying about job displacement from immigration and trade deals. well, what happened?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411581)



Reply Favorite

Date: November 25th, 2020 10:33 AM
Author: .,..,.,,.,.,..,.,.,.,..,..,..,.,..,,.,.,.,.




(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41434157)



Reply Favorite

Date: November 23rd, 2020 6:24 PM
Author: Queensbridge Wilbur (Krugerrand)



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423360)



Reply Favorite

Date: November 21st, 2020 3:33 PM
Author: I'm a chad btw

I’ve seen a lot where the kids get a “loan” from their parents’ trust. 30 year term with interest only payments at the AFR (currently like 1.3% per annum) and a balloon payment at the end. Basically a way to just dip into their inheritance early.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41410992)



Reply Favorite

Date: November 21st, 2020 3:37 PM
Author: boomerboat



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411011)



Reply Favorite

Date: November 21st, 2020 5:51 PM
Author: roblox

I recently learned that it is not uncommon to have high ranking employees/executives of non profits get interest free home loans as a benefit.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411613)



Reply Favorite

Date: November 21st, 2020 4:13 PM
Author: ,,,,,,,,,,,.,,,,,,,,,,,,,,,.../.,,


same with super expensive weddings in big cities/destinations obviously. doesn’t really upset me though. my parents are poor high school grads and i earned mid six figures before i turned 30. it’d be absurd for me to jealous of my (many) friends with rich parents considering how lucky i’ve been.

i’ll help out my shithead kids the same way probably

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411164)



Reply Favorite

Date: November 21st, 2020 4:23 PM
Author: Killer Joe

Smells like duck sauce and ovens ITT

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411218)



Reply Favorite

Date: November 21st, 2020 4:26 PM
Author: boomerboat



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411234)



Reply Favorite

Date: November 23rd, 2020 11:10 AM
Author: minecraft



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41420659)



Reply Favorite

Date: November 21st, 2020 5:49 PM
Author: fairies

Lol at the proles upset about this. Who cares if parents helped? That’s what parents are supposed to do.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41411598)



Reply Favorite

Date: November 23rd, 2020 10:42 AM
Author: I'm a chad btw

I don’t care that parents help their kids. It’s the kids that don’t admit or ashamed of it that annoy me.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41420535)



Reply Favorite

Date: November 23rd, 2020 6:18 PM
Author: fairies

Why should they have to admit it? The family name used to be a “legacy” and something to be proud of. Someone from a better more successful family than you should not have to explain it to you.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423327)



Reply Favorite

Date: November 23rd, 2020 6:21 PM
Author: 8========D~~~

If they're not admitting to it, how do you know parents helped? Are you just assuming people's parents helped with no evidence?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423343)



Reply Favorite

Date: November 23rd, 2020 6:29 PM
Author: I'm a chad btw

It’s pretty obvious in a lot of cases.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423392)



Reply Favorite

Date: November 23rd, 2020 8:54 PM
Author: 8========D~~~

Maybe in some cases. You'd be shocked how much people can save when they are not retards about spending money from age 22-32, especially when the stock market has been on a tear.

If you saved only $20k / year the past 10 years and put it in the stock market, you'd have over $400k.

If you saved $25k / year you'd have over $500k.

People who are smart like me saved over 50% of our income in our 20s.

You think people aren't smart enough to save $20-25k / year on a $100-200k salary?



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41424647)



Reply Favorite

Date: November 24th, 2020 9:29 AM
Author: ominous gulp (Poasts are exclusively artistic expression)

The government takes 50% of my income. How do you save that much?

Why are you assuming 100-200k salary? Plenty of Brooklyn deadbeats own a 500k 1/1.

I know single mom who bought a 1.5m house on five years of a post-mba Accenture salary.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41426921)



Reply Favorite

Date: November 25th, 2020 11:41 AM
Author: fairies



(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41434701)



Reply Favorite

Date: November 23rd, 2020 6:25 PM
Author: Queensbridge Wilbur (Krugerrand)

that's johnsmeyer

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423369)



Reply Favorite

Date: November 22nd, 2020 12:22 PM
Author: Spyderco

Good for those people. I hope I'm in a position to help my kids like that.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41415169)



Reply Favorite

Date: November 23rd, 2020 1:05 PM
Author: modus vivendi

tcr. this used to be a board for gentlemen

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41421358)



Reply Favorite

Date: November 23rd, 2020 5:29 PM
Author: barnabyjones

to be fair, boomers were born at the most favorable time to have ever been born in the history of mankind. they can spare the change.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41422991)



Reply Favorite

Date: November 23rd, 2020 6:06 PM
Author: debt ridden entrepreneurial shark tank contestant

bootstrapping is hollywood propaganda, this world is nepotist af

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423264)



Reply Favorite

Date: November 23rd, 2020 6:26 PM
Author: cory

Wife's parents lent us $10k for two weeks so we didn't have to sell stocks, when the appraisal came in a little low. That's it

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41423377)



Reply Favorite

Date: November 25th, 2020 10:51 AM
Author: Spyderco

My MIL is giving us some money, but she's going to live with us and will have her own in law suite complete with 1.5 baths, kitchen, living room and balcony.

Does that count as help?

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41434269)



Reply Favorite

Date: November 25th, 2020 11:40 AM
Author: fairies

That’s a ton of help x2. Plus she can watch the kids when you have them and you can both continue to work. Lmao that a huge help.

(http://www.autoadmit.com/thread.php?thread_id=4694945&forum_id=2#41434692)