Austin Klar tells unhappy lawyers at big firms to buy a house before quitting. Large law firms offer mortgage rates 2% lower than market, letting you lock in mid-5% rates instead of competing in a hot market.
If you know a lawyer that absolutely hates their job and is thinking about quitting, make sure they do this one thing before kicking in the towel. Buy a house. One of the best perks at working at a big law firm, and believe me, there aren't that many, but this one is definitely one of them and it's pretty legit. They get crazy breaks on mortgage interest rates. The discount can be as high as 2%, which means in today's market you can get an interest rate in the fives. So they have more of a best of both worlds scenario, a lower priced, less competitive environment while getting better rates than everybody else. It's a pretty sweet deal, but make sure you take advantage before pulling the plug on your lawyer job. Follow me for more Bay Area Real estate.
