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Not sure whats the point of the article. It's not amazing that any 22 year old can afford to buy a place given:
1. Parents to back her up against any job lost or money issues.
2. No debt (cause of affluent parents?)
3. Gifts of 50-125k+ for down payment
4. Job making 75k+
Based on the real estate articles that I have read, she actually made a good decision. These people want the city life and $2100 per month is a drop in the bucket for Manhattan. She was paying that in rent. The co-op building she bought in caters to young folks. Working and socializing where they live are very important to these group of folks. They are not willing to move to Brooklyn and Queens. It is all about the lifestyle that Manhattan affords them.
I'm not talking about her paying rent vs paying mtg/maint. I'm talking about her selling the place in a couple of years when she decides to grow up and get a real place. She paid $345K for a studio. Even in the EV, do you think she's going to make a huge profit (IF ANY) in 3 to 5 years?
I'm not talking about her paying rent vs paying mtg/maint. I'm talking about her selling the place in a couple of years when she decides to grow up and get a real place. She paid $345K for a studio. Even in the EV, do you think she's going to make a huge profit (IF ANY) in 3 to 5 years?
depends on how much money mommy and daddy ask for back
was there any official clarification of why her story didn't match the listed purchase records?
The purchase price was $345,000 and her Mom is also listed as the buyer. Makes me wonder what else doesn't add up.
The studio below hers is available for $329,000 asking price, if any normal 22-year-old is interested.
The whole story doesn't add up. She's just another privileged brat who had mommy and daddy to back her up on everything. Even if she started working at 14, how much could she have REALLY saved??? And is she claiming she worked retail?? She's lying. You have to be 16 to work retail. At 14, you're lucky if they'll let you work at a fast food place for 3 hours a day (child labor laws).
Has anyone called her out on her lies on the "comments" section of her article???
see:
Quote:
Originally Posted by L'Artiste
oops when i posted this article i didn't read the comments on the original site, apparently she bought it at 345k according to public records (why lie? i dont know?) and has second buyer with her..
so i suppose so, but i didn't see that or a response from author
When I was that age, quite a few people I worked with of similar age were buying houses (obviously this was not in NYC) that would be an equivalent price. It is pretty normal, provided you've got a decent middle-to-upper-middle class income and can come up with the down payment (family, inheritance, successful bank robbery, whatever)
I love the bit about lying about her age at open houses though. Only in New York, I suspect. Same for the "small" mortgage.
You know what, I basically take back whatever compliments that I gave her. The more I read up on this, the more I find her distasteful and a bit of a fraud. I don't really understand why this article is such a big deal. The only thing I can think of is because she purchased a Manhattan apartment. I don't believe very much of what she says, as it has been debunked by simple internet searches. For example, 1. she needed a co-borrower in order to qualify. That is a big deal, because then it makes her feel good story a bit of a crock. Many people can purchase apartments if they have their mother being a co-borrower. 2. Her job is currently in marketing. At 22 years old, I doubt that she is making anything near what is needed to pay a $2,100/mo mortgage. But everything is better when you have a co-borrower. Heck, being a part of a dual income household is definitely easier on me than when I was a single wage earner. 3. I don't buy the nonsense about real estate professional and the like giving her a rough time due to her age. I had little to no problems due to my age. What was annoying was the long vetting process used to get a mortgage..but that's how they rolled back in '97. I didn't have to lie about my age at open houses because no one gave a flip. I viewed lots of apartments and even a SFH and not one person made a big deal out of my age.
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