Chad Johnson Is Facing Foreclosure On His $400,000 Miami Condo--------------------

[R.E.N. Spells Ren]

JLova is a clown and really exposed himself, the way he was dancing in this thread.

He tries to act like Dwight would've been smarter getting a mortgage than buying outright. He backs this up by claiming there are "plenty" of low risk investments that yield 5-10%. When asked to name them, that number magically drops to 2-3% and he tries to act like that drop is insignificant. Not only is that drop significant from a purely mathematical standpoint since it's a much lower return, it's extremely significant in the context of THIS discussion since your low risk investments went from beating the mortgage rate to not beating the mortgage rate.

Now, he's back harping on how he shouldn't buy a $20M house at all..that's a nice opinion, but it ain't your money. The point from the beginning was that once he decided he wanted it, the best option was to buy outright.

Just like buying a Bugatti is not a smart way to spend $2M....if you ignore the fact that the buyer wants fukking Bugatti.

 

[NV-ME]

really depends on how many other properties he owns. why pay cash for a condo in a city you may or may not be living in depending on if you make a team? and as it turns out, he isnt w/ the team. chad's made some good money. dunno if/how much he's squandered, but unless youre filthy, people arent just buying every property they live in cash. athletes, for the most part only get paid a couple months out of the year. the rest of the year is often largely based on good faith credit.

 

[R.E.N. Spells Ren]

really depends on how many other properties he owns. why pay cash for a condo in a city you may or may not be living in depending on if you make a team? and as it turns out, he isnt w/ the team. chad's made some good money. dunno if/how much he's squandered, but unless youre filthy, people arent just buying every property they live in cash. athletes, for the most part only get paid a couple months out of the year. the rest of the year is often largely based on good faith credit.

Because it cost less.

If you don't think you'll be there for long, then you probably shouldn't buy in the first place...renting is still an option.

 

[NV-ME]

Because it cost less.

If you don't think you'll be there for long, then you probably shouldn't buy in the first place...renting is still an option.

renting is an option, but you can get some good tax breaks for purchasing. i know the first year i got my property tax i was blown, but then my mortage company sent that check and was like "nah we got this" and i was partying...of course all of this is under the assumption youre gonna pay your damn mortgage

 

[Yung Yogurt]

smh at this thread still being on the first page! let this shyt die brehs, yall gossping about this nikka finances like some fakkits

 

[Sonic Boom of the South]

fukk that nikka

 

[ajkamkel]

gonna have to loan him some money

 

[pete clemenza]

smh at this thread still being on the first page! let this shyt die brehs, yall gossping about this nikka finances like some fakkits

nah dumbass we're chopping it up on some life and money shyt. these threads are educational. of course we're not living the "$20 million mansion lifestyle" but there's alot of nuggets in threads like these