27 F. Work as 1st year associate in Big Law NYC. Base salary $215k, bonus is ~$10k (lowballing), student loans are $150k, total savings are about $100k. 0 family money and will likely be supporting parents long term. Any advice on how/when to start investing in real estate. Currently have all savings in market (with personal investing in index funds or 401K/RothIRA/mega back door).

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No advice here but good for you sis 👏👏

likeuplifting

Buy a duplex/multi-family as a primary, live in one unit for a year and rent the other out. Repeat.

likehelpful

In NYC that would have significant lifestyle effects.

Pay the loans aggressively, you don’t know how long you’ll stay in big law.

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Will have to agree to disagree on this! The poster has 150k in loans and 100k in savings so don’t think there’s a real risk of her not being able to make loan payments should something unexpected happen.

I grew up poor and came out of law school with 150k in loans, no savings, and no spouse. Refinanced my loans before even graduating from law school. As a third year I now have rental properties and way more invested in tax-advantaged accounts than almost all of my friends do. It’s not like the capital is just disappearing unless you dump it all into some crazy risky asset — if you need to access it to cover your loan payments because you lose your job, there are ways.

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My advice would be to leave NYC but people love it… I’m a third year and am years ahead of my friends that are in HCOL cities. Real estate will be tough in NYC and is a ton of hassle if out of state. I would use an attorney loan for a primary residence, make it a rental when you buy a new house, and rinse and repeat.

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Agree NYC puts big hurdles here. OP will need to restrict to condos both for the ability to rent out later (if that’s even profitable) and because co-ops won’t take a JD loan. Another option might be to funnel money to parents in another market and have them manage properties. I’ve been in OP’s shoes and I just did not find it realistic to make real estate part of my portfolio. The costs of entry in NYC are just too high.

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I’m sorry

Ya but she has to work as a lawyer and pay off that debt. Sounds miserable.

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