“How can you buy $2M in real estate with $200K? Even a down payment would be much more.”
He likely had some other money and needed the $200k to get to 20%. Still, he must have a damn good income to qualify for a loan of $1.6M. Didn’t realize charter schools paid so well!
Monthly payment on 1.6 million would be roughly $8,000 + monthly condo fees which I would bet are over $1000.