Hey guys - lt may be irrelevant but I am curious as to how people can afford to buy an apartment in Manhatten. Seems that a one-bedroom apartment costs at least 1 million. What kind of career path do you need to have in order to afford this? Would like to hear some thoughts on how the numbers work out.
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wssss
millennium? my friend cleared 15m a year as well
How do you honestly get to the point where you're making $15M/year other than being a top PM at a hedge fund or entrepreneur?
.
Oh cool, OP, just be a genius.
begs the question how your sister is on his level
Maybe she's hot bro
.
Lever up
Simply put, you don't.
The mortgage is one thing. But the property taxes are killer as well.
Agree 100% - I don't think it makes sense to buy in Manhattan. The property taxes and associated condo fees, etc are killer. Better to spend your money elsewhere.
What do HOAs spend money on out there?
The property taxes in the city itself are actually quite low - I think the average is under 1%.
The issue is the HOA fees as you mentioned.
HOA fees have gotten really high and keep going up. I hate the idea that some group of people can raise your cost of housing without your consent.
Just be a genius and make $100MM, duh!
H/Y/P/S/W ==> BB IB Analyst ==> Found your own startup and cash in a 7 figure exit ==> MBB ==> H/S/W MBA ==> PE Megafund PM ==> Apartment in Manhattan
Non-target > Boutique > BB IB > MM PE > Mega Fund > Sexual Misconduct > Hobo > Subway Performer > WWE > Steroids > UFC Champion > Apartment in Brooklyn
This made me think of that Gawker shit with Hulk Hogan for some reason. What a great story. Peter Thiel is a great guy. I have immense respect for a man with such follow-through.
Still more realistic than the other option
Still more realistic than the other option
What does W stand for? How much does PE/Megafund PM take home a year? How about associate/ analyst?
Wharton, I'd imagine PE/Megafund PMs can easily clear $10MM and analysts/associates are making nothing under $225k all in
why is this a goal for you?
If you have to ask then you don't make enough.
While you could definitely spend upwards of a million dollars on a fancy 1 bedroom in Manhattan, you can also buy some reasonable 1-bedrooms for around 500k.
At that point, a 20% deposit will only be 100 thousand, something you can definitely afford if you work in a high paying job and save your bonus for 2-4 years.
I got nearly 500k in the bank already bro - but a 1 bedder apartment ain’t gonna fit my family.
How much a 3 bedder in Manhattan gonna cost me? I’m f***d
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