How much are incoming NYC associates planning on spending on an apartment? Forum

[AndroidLawyer]

How much are incoming NYC associates planning on spending on an apartment? I am trying to figure out what would be a reasonable amount to spend on rent as a first-year.

[sublime]

More now.

Previously I was hoping for around 2500, now looking for around 3k

[Anonymous User]

2-3k.

[WheatThins]

Living with a friend from college. Getting a 2br and paying around 1600 each.

[Anonymous User]

I spent 2300 years 1 & 2, 2900 year 3 and 2000 (gf moved in) in year 4. Loans paid off in year 3. Liquid savings is lacking.

[Anonymous User]

1600 if I could find a sublesee

[Mozart Lacrimosa]

Please add if it's a studio or 1/2/3 bedroom if you don't mind.

[sublime]

Please add if it's a studio or 1/2/3 bedroom if you don't mind.

mine was 2500- soft 3000 for a studio or 1BR.


Also, how many of you guys are getting a broker?

[kaysta]

brokers are a racket

[Rahviveh]

Please add if it's a studio or 1/2/3 bedroom if you don't mind.

mine was 2500- soft 3000 for a studio or 1BR.


Also, how many of you guys are getting a broker?

I'm targeting the same range. I will get a broker because the tax cost of ~1200 is probably worth it for the greater access.

[sublime]

Please add if it's a studio or 1/2/3 bedroom if you don't mind.

mine was 2500- soft 3000 for a studio or 1BR.


Also, how many of you guys are getting a broker?

I'm targeting the same range. I will get a broker because the tax cost of ~1200 is probably worth it for the greater access.

You have a sub 5% Broker? Or am I misunderstanding what you are saying?

[Rahviveh]

Please add if it's a studio or 1/2/3 bedroom if you don't mind.

mine was 2500- soft 3000 for a studio or 1BR.


Also, how many of you guys are getting a broker?

I'm targeting the same range. I will get a broker because the tax cost of ~1200 is probably worth it for the greater access.

You have a sub 5% Broker? Or am I misunderstanding what you are saying?

Most firms reimburse you and then you pay tax on the reimbursement

[sublime]

Are you sure it is most? Anyway, it does not appear that mine does. But if they do, that's a sweet deal and would definitely be worth it. It's a bit of a closer call when it is out of pocket though.

[Rahviveh]

Btw someone did a great breakdown of budgeting in this thread:

http://www.top-law-schools.com/forums/v ... &start=100

If someone could update that with the new scale that would be helpful. I know it doesn't make a huge difference but I'm too lazy to do it myself.

[imalreadyamember?]

I think our budget is about $3500 max, but my wife is a lawyer and will be at a PD (she has a soul) and I'll be starting as a 2nd year (we're both clerks) so our income is higher than a single first year. Probably doing Brooklyn because both our offices are downtown and fuck Manhattan (or jersey LOL though it would be cheaper). Probably 1br but 2 would be great if we could. Lastly, would really prefer not to use a broker and we have people who can help look at places, but sometimes the market in that stupid city is set up such that a broker is necessary. Fuck it.

The biggest problem is that apts and brokers all need their shit up front. Well listen, I'll be making quite a bit of money soon enough but I won't have it when I show up. But if we find a place we want for a couple years, at near our max, where they will want a security deposit, thay could be $7k plus the fucking massive broker fee. I have a quick turnaround before my wife starts, her job isn't gonna advance her salary, and we can't accept money while working for judges. So we're in a bit of a pickle there and might have to live with her parents and commute about 45 min by train from Long Island for a month or two (ugh seriously shoot me).

I wish I could find a place that will give me a couple weeks but that seems unlikely. I'm rambling now and sure nobody cares.

[ballouttacontrol]

I think our budget is about $3500 max, but my wife is a lawyer and will be at a PD (she has a soul) and I'll be starting as a 2nd year (we're both clerks) so our income is higher than a single first year. Probably doing Brooklyn because both our offices are downtown and fuck Manhattan (or jersey LOL though it would be cheaper). Probably 1br but 2 would be great if we could. Lastly, would really prefer not to use a broker and we have people who can help look at places, but sometimes the market in that stupid city is set up such that a broker is necessary. Fuck it.

The biggest problem is that apts and brokers all need their shit up front. Well listen, I'll be making quite a bit of money soon enough but I won't have it when I show up. But if we find a place we want for a couple years, at near our max, where they will want a security deposit, thay could be $7k plus the fucking massive broker fee. I have a quick turnaround before my wife starts, her job isn't gonna advance her salary, and we can't accept money while working for judges. So we're in a bit of a pickle there and might have to live with her parents and commute about 45 min by train from Long Island for a month or two (ugh seriously shoot me).

I wish I could find a place that will give me a couple weeks but that seems unlikely. I'm rambling now and sure nobody cares.

you can't find somewhere that will let you pay that stuff with a credit card? Then just quickly pay off the credit card, or get a new one with 0% interest

[sublime]

Or is there anybody that knows the situation and would be willing to help you out with a low interest loan?

Also, I imagine you could get a loan from a bank?

[imalreadyamember?]

I think our budget is about $3500 max, but my wife is a lawyer and will be at a PD (she has a soul) and I'll be starting as a 2nd year (we're both clerks) so our income is higher than a single first year. Probably doing Brooklyn because both our offices are downtown and fuck Manhattan (or jersey LOL though it would be cheaper). Probably 1br but 2 would be great if we could. Lastly, would really prefer not to use a broker and we have people who can help look at places, but sometimes the market in that stupid city is set up such that a broker is necessary. Fuck it.

The biggest problem is that apts and brokers all need their shit up front. Well listen, I'll be making quite a bit of money soon enough but I won't have it when I show up. But if we find a place we want for a couple years, at near our max, where they will want a security deposit, thay could be $7k plus the fucking massive broker fee. I have a quick turnaround before my wife starts, her job isn't gonna advance her salary, and we can't accept money while working for judges. So we're in a bit of a pickle there and might have to live with her parents and commute about 45 min by train from Long Island for a month or two (ugh seriously shoot me).

I wish I could find a place that will give me a couple weeks but that seems unlikely. I'm rambling now and sure nobody cares.

you can't find somewhere that will let you pay that stuff with a credit card? Then just quickly pay off the credit card, or get a new one with 0% interest

A lot of places want cash or check. But that's a good idea. I don't want to close us off to places that won't take a card (or paypal?) but if we find a good place that does, that would really help.

Re: loans, I guess our parents but it seems like a lot to ask. Do banks really do short term loans like that? Especially given that I'm in massive debt already.

[sublime]

I think our budget is about $3500 max, but my wife is a lawyer and will be at a PD (she has a soul) and I'll be starting as a 2nd year (we're both clerks) so our income is higher than a single first year. Probably doing Brooklyn because both our offices are downtown and fuck Manhattan (or jersey LOL though it would be cheaper). Probably 1br but 2 would be great if we could. Lastly, would really prefer not to use a broker and we have people who can help look at places, but sometimes the market in that stupid city is set up such that a broker is necessary. Fuck it.

The biggest problem is that apts and brokers all need their shit up front. Well listen, I'll be making quite a bit of money soon enough but I won't have it when I show up. But if we find a place we want for a couple years, at near our max, where they will want a security deposit, thay could be $7k plus the fucking massive broker fee. I have a quick turnaround before my wife starts, her job isn't gonna advance her salary, and we can't accept money while working for judges. So we're in a bit of a pickle there and might have to live with her parents and commute about 45 min by train from Long Island for a month or two (ugh seriously shoot me).

I wish I could find a place that will give me a couple weeks but that seems unlikely. I'm rambling now and sure nobody cares.

you can't find somewhere that will let you pay that stuff with a credit card? Then just quickly pay off the credit card, or get a new one with 0% interest

A lot of places want cash or check. But that's a good idea. I don't want to close us off to places that won't take a card (or paypal?) but if we find a good place that does, that would really help.

Re: loans, I guess our parents but it seems like a lot to ask. Do banks really do short term loans like that? Especially given that I'm in massive debt already.

I mean, private companies do bar loans, right? I'm sure there may be something similar, and if your credit is fine, because you will be making money soon, I imagine it is at least worth looking into.

Is there any way around the ban on the firm advance? When do you stop working for the judge? I haven't really heard of this before, and assume it would be more common if Clerks couldn't utiliaze a firm advance.

[notgreat]

Trying to keep it between $1.5k and $2k a month, although it will probably be closer to $2k. Planning on living in lower manhattan and sharing a place so that I can find something in that price range. I don't think it is necessary to be this frugal, but I'm trying to build savings and pay down my debt in case I get shitcanned in the first few years.

[imalreadyamember?]

I think our budget is about $3500 max, but my wife is a lawyer and will be at a PD (she has a soul) and I'll be starting as a 2nd year (we're both clerks) so our income is higher than a single first year. Probably doing Brooklyn because both our offices are downtown and fuck Manhattan (or jersey LOL though it would be cheaper). Probably 1br but 2 would be great if we could. Lastly, would really prefer not to use a broker and we have people who can help look at places, but sometimes the market in that stupid city is set up such that a broker is necessary. Fuck it.

The biggest problem is that apts and brokers all need their shit up front. Well listen, I'll be making quite a bit of money soon enough but I won't have it when I show up. But if we find a place we want for a couple years, at near our max, where they will want a security deposit, thay could be $7k plus the fucking massive broker fee. I have a quick turnaround before my wife starts, her job isn't gonna advance her salary, and we can't accept money while working for judges. So we're in a bit of a pickle there and might have to live with her parents and commute about 45 min by train from Long Island for a month or two (ugh seriously shoot me).

I wish I could find a place that will give me a couple weeks but that seems unlikely. I'm rambling now and sure nobody cares.

you can't find somewhere that will let you pay that stuff with a credit card? Then just quickly pay off the credit card, or get a new one with 0% interest

A lot of places want cash or check. But that's a good idea. I don't want to close us off to places that won't take a card (or paypal?) but if we find a good place that does, that would really help.

Re: loans, I guess our parents but it seems like a lot to ask. Do banks really do short term loans like that? Especially given that I'm in massive debt already.

I mean, private companies do bar loans, right? I'm sure there may be something similar, and if your credit is fine, because you will be making money soon, I imagine it is at least worth looking into.

Is there any way around the ban on the firm advance? When do you stop working for the judge? I haven't really heard of this before, and assume it would be more common if Clerks couldn't utiliaze a firm advance.

I think it's in their ethics rules, plus my judge told me not to accept any money when I accepted the firm's offer. I might be able to ask if I can accept a week or two before I'm done. That would be fantastic.

Also I already got a bar loan because I didn't think I could accept the firm paying for my bar study. Come to find out both my coclerks did it and didn't think twice about it. So I'm the only one who actually read the handbook and I got a little screwed for it. That's a tangent.

I think the more uncommon part of my situation is that my wife starts a week after our terms end. Most clerks have a month or two before they start (which I will as well), so they have time to get the advance, move and get moving expenses paid, look for a place, buy furniture and shit, etc. I'll have to do some of those things and get reimbursed I guess.

I think we're just gonna live with her parents while she starts and while I look for a place during the day. It just sucks because we have to put our stuff in storage for that time and I'm not sure the firm will pay for moving expenses beyond Point A to Point B, so having a place lined up to move our stuff into would be ideal.

[Avian]

Trying to find a 2 BR with a friend for under 2k each (4k total). I think anywhere from 2-3k is very doable.

[jbagelboy]

If you're finding anything livable under $2000, its a steal.

If you're finding a 1 bedroom in lower manhattan under $3000, its a steal.

[Anonymous User]

I'm an incoming LA associate at a firm that matched, and was planning on spending around $2,500, but now comfortable with spending between $3,000-$3,200 with a monthly loan payment around $1,800.

[Sgtpeppernyc]

Paying $2500 for a studio on the UES. Went through a broker (~ 1 month rent), because even with the broker fee I'm getting a pretty solid deal on the place). Going through a broker sucks, but a lot of apartments can only be rented through a broker (and, often enough they're higher quality dollar for dollar).