He must have been an MD at goldman , right?
he is working right now for a hedge fund...
Trending Content - Investment Banking Forum
| +178 | Americas M&A League Table Q2 Updated | 73 | 10h |
| +132 | New Article: Dramatic Slide as UBS #22 (US) & New Leadership Desperately Needed | 26 | 1h |
| +109 | Restructuring: Anti-climactic Experience | 27 | 9s |
| +75 | IB Net Worth / Savings Check | 30 | 6m |
| +74 | A COMPLETE GUIDE TO SUMMER INTERNSHIP RECRUITING | 12 | 1d |
| +51 | Boutique firm wants access to my LinkedIn? | 40 | 1d |
| +39 | Investment Banking is Hard | 17 | 21h |
| +31 | PWP vs BofA | 23 | 3h |
| +25 | Who pays the highest right now? | 14 | 3h |
| +21 | Big 4 Transaction diligence (FDD) vs Valuations and modeling for goal to get in IB | 5 | 4d |
Career Resources
Why does someone need to be an MD to buy a $4 million apartment?
what sort of income do you need to buy a 4 million apartment? 1/10 of property cost?
a little more than that:
assuming you put 20% down, you have to service a $3.2 mm loan assuming 6.0% interest and a 30 year schedule, you've got monthly payments of about 20k that makes 240k per year in payments assuming that you want to allocate a maximum of 50% of your yearly cash flow to servicing the debt, you need to pull 480k per year after taxes that means between 900k-1 mm per year in earnings
Very big dowry.
dude's father was a democratic congressman and stole around $10mm....I dont doubt tht this dude has some money somehow
mmmm.... maybe he bought it with Chelsea... she is working at a hedge fund too...
i think people with that income dont buy apartments on a 30 years schedule... maybe 4 or 5 year term...
Yeah, she was at Avenue Capital. Imagine what a joke her interviews must have been, embarrassing to conduct.
And why would someone with "that kind of income" buy an apt on a 4 or 5 year term? That kind of income is $1M a year on a 30 year term and probably $3M+ on a 4-5 year term. Also keep in mind, your above mentioned calculation are not including real estate taxes and maintenance fees on a $4 million apartment.
What usually happens in these cases (wealthy kids buying lavish homes) is that they draw on their trust funds/family wealth to place a large enough down payment so that they can afford their regular expenses with their own personal income.
Occaecati sit ullam at qui veritatis odio. Similique reprehenderit placeat dolorem iste commodi atque. Aut vitae cumque dicta in hic sunt itaque. Sint eum impedit cupiditate voluptate aut. Dolores quam molestiae impedit odio voluptas ut veritatis. Voluptatem optio ipsum ut officiis expedita perspiciatis. Recusandae non libero quia nihil qui non.
Sequi voluptates et in fugit molestias et a. Officiis vel doloremque quam velit sint totam ut. Fuga et veritatis omnis est vel saepe et. Voluptatem quis facilis et quia nobis ipsam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...