People who bought > $2m homes, how did you do it?

Oracle uyogiovvo
May 5 33 Comments

Can you share your down payment, loan type (30 yr, arm etc.), tc, company, spouse tc, spouse company.

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TOP 33 Comments
  • Studied very hard from very young. Got into a top school and moved to US. Worked very hard. Found a working wife. Changed job and got more TC. Invested in stock and funds. Saved a lot and never spent more than needed to.

    Finally sold an apartment in Shenzhen then bought in cash.
    May 5 8
    • Honeywell that1guy
      So it appears youโ€™re Chinese. My wife is Chinese and her story is very similar. So to that, I have to say a huge congratulations man. It really paid off.
      I wonder if youโ€™d ever regret selling that apartment in Shenzhen. Especially with how much itโ€™s still growing.
      May 5
    • New luvr
      "found a working wife" ... Lol
      May 5
    • TuneIn WsvF24
      found a working wife is a key๐Ÿ‘†
      May 6
    • Intel eKPG80
      Did you buy the apartment in shenzhen your self?
      May 6
    • Airbnb tgsY52
      Selling the Shenzhen home is the key. That alone gave you like $1m
      May 7
  • Uber domin8
    Honestly, buying a lower middle class family home from 1950s for $2 mil is not the best way to spend money...
    May 5 3
    • Oracle uyogiovvo
      OP
      I am sure there are people here who made money with the recent/ongoing bull run in housing.
      May 5
    • Uber domin8
      Sure, plenty of people made money all kinds of ways including winning the lottery or being lucky on stock market. Question if this is sustainable or subject to bust. I really don't want to see people stuck with 5-7k monthly housing bill and negatively valued stock options.
      May 5
    • Twitter RsTI20
      I think secretely you want to see it and say "I told you so"
      May 7
  • F5 Networks RRA
    Saved up the usual way. Put 20 percent down on a 30 FRM after saving up enough cash to weather a one-year storm's worth of mortgage payments. 650k TC/8 YOE when I pulled the trigger, less than a year ago. (No, I'm not an IC.) Wife is SAHM.
    May 5 6
    • Oracle uyogiovvo
      OP
      Nice! Thatโ€™s almost $10k every month with property taxes/insurance, right? So, You have a $120k buffer. How was your career trajectory? $650k at 8 years is awesome!
      May 5
    • F5 Networks RRA
      Yeah, PITI is a little over 11k. Trajectory has been atypical to be sure. F5, like many companies of its size, will throw money at you if they think you're worth it. There are people lurking here from Cisco/VMW/ORCL/etc that easily clear 750k. Of course, they'll never out themselves.
      May 5
    • F5 Networks RRA
      Meant to add: my cash emergency fund is enough to also fund decent health insurance for a family for a year. This is part of the planning when you're a breadwinner. Having a decent TC is more about building a nice umbrella for a rainy day than it is about driving a Model X. I drive an old car...
      May 5
    • Uber
      โœ…๐Ÿ“

      Uber

      PRE
      Facebook
      โœ…๐Ÿ“more
      How is F5 doing? Stock isn't doing that great since last year?
      May 5
    • F5 Networks RRA
      Stock is doing OK. Last year it set ridiculous highs and hit 200, which is a bit much. Took a hit after the all-cash Nginx acq. The Trump Bump has helped considerably. The company is transitioning but obviously we're not out of the woods.
      May 5
  • It helps to have parents who can foot a $500k down payment ๐Ÿ˜‰. Also, DINK / FANG gang.
    May 5 4
    • Google / Eng
      rQsc13

      Google Eng

      PRE
      Qualcomm
      rQsc13more
      Dink means what again?
      May 5
    • Uber domin8
      Dual income no kids
      May 5
    • Amazon Redux
      Mommy / daddy gang > FANG gang.
      May 5
    • Flagged by the community.

  • Facebook public2
    20%, 30 year fixed, tc is irrelevant, fb, gf only. If you needed tc to buy would recommend at least 450k for 2m. Pretty much the same as any other real estate purchase with the sole exception that the insurance company will likely want to do a physical walkthrough.
    May 5 0
  • Castlight Health whaaaaaat
    DP: 100k-ish in 2010 on 569k fixer (3/2) with 5/1 arm, invest 81k, in for 650k appraised for 950k in 2016, refi to 30 year fixed and extract 200k, pair with 100k cash, design and build addition (5/4), now worth 1.8 to 2.0m by 2020 when finished. Total of 200k cash invested. Equity 1.2m to 1.4m. Mortgage payment inc property tax is 4300, will be 3900 in 2026 when mortgage insurance ends. TC less than 300k. TC in 2010 less than 150k. Worked at too many startups for too long fwiw. Should have done FANG for more cash. But not doing FANG also gave me time to design and build addition, worth more than I could have saved working at FANG.
    May 6 2
    • Should just quit coding and be a builder, smartass
      May 6
    • Castlight Health whaaaaaat
      Or I could just do both and make 1m / yr. FANG is not the only way. Autodidact = will do whatever I want.
      May 6
  • LinkedIn / Eng weirdest
    Didn't buy yet, but made multiple offers above 2M.

    Down: 500k
    Loan: 30 fixed
    TC: 700k
    Spouse: home maker
    May 6 1
    • PayPal iCKq45
      TC: 700K. Is this total compensation per year!
      May 12
  • Sold my house for $1.3, one that I bought in 2010 for $600k. Makes my $2.5M purchase manageable...
    May 5 1
    • LinkedIn L!nkedOut
      Current TC?, similar boat, I have a house purchase price 750K, currently approx 1.3. Looking to upgrade to a 2M ish house. Household TC - 400K .. unsure about pulling the trigger
      May 5