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

[Ronnie Lott]

Damn. I kinda feel bad 4the homie chad, but then again I don't. That nygga should have never married that broad Evelyn. What the fucc was he thinkn?

 

[krexzen]

That's pretty much last generation, breh(besides Dez). This generation besides nikkas like Kenny Britt doesn't seem like a bad group of dudes

Kenny Britt looks like he's gonna be this generations....

Nah too dumb.

Britt - Cheese
Marvin -Marlo

 

[The_Sheff]

Btw never buy property cash right? Just get a mortgage the mortgage
Rates are so low.

According to the coli financial advisors

That's not what people were saying.

You're comparing a $400K condo to a $20M mansion? Again, Dwight's net worth does not make that purchase a smart move. Why is this so hard for some to understand?

Tying up $400K when you're worth $30M is a lot more financially sound than tying up $20M in a down market when your net worth is south of $60M.

In addition, there's nothing wrong with taking out a mortgage. I'd much rather put down $4M on a $20M house and invest that $16M than to dump $20M in a property.

Again...tying up $20M on property is what dudes who are worth $500M+ do...not dudes who are worth $50M with 5 baby mamas.

I love it when yall just throw that out like its easy to invest the money and see good returns. Like mufuakkas dont lose their shirts every other day with bad investments and crooked financial advisers. There is a long list of athletes who lost tons of money with bad investments. I just read a story the other day on how Fred Taylor's agent swindled 4 mil from him.

 

[JLova]

Btw never buy property cash right? Just get a mortgage the mortgage
Rates are so low.

According to the coli financial advisors

That's not what people were saying.

You're comparing a $400K condo to a $20M mansion? Again, Dwight's net worth does not make that purchase a smart move. Why is this so hard for some to understand?

Tying up $400K when you're worth $30M is a lot more financially sound than tying up $20M in a down market when your net worth is south of $60M.

In addition, there's nothing wrong with taking out a mortgage. I'd much rather put down $4M on a $20M house and invest that $16M than to dump $20M in a property.

Again...tying up $20M on property is what dudes who are worth $500M+ do...not dudes who are worth $50M with 5 baby mamas.

I love it when yall just throw that out like its easy to invest the money and see good returns. Like mufuakkas dont lose their shirts every other day with bad investments and crooked financial advisers. There is a long list of athletes who lost tons of money with bad investments. I just read a story the other day on how Fred Taylor's agent swindled 4 mil from him.

So you propose to invest $20M cash in a craptacular real estate market.

 

[Ed MOTHERFUCKING G]

Buying a home free and clear does not reduce your net worth....

I mean...there are really fundamental principals you guys are missing here

 

[JLova]

Buying a home free and clear does not reduce your net worth....

I mean...there are really fundamental principals you guys are missing here

No one said it does.

 

[Ed MOTHERFUCKING G]

Buying a home free and clear does not reduce your net worth....

I mean...there are really fundamental principals you guys are missing here

No one said it does.

You kind of did...you're talking about "tying up" net worth as if that is lost...purchasing a home like that in what you yourself called a down real estate market isn't foolish if you plan to live there and if not, continue to own. Paying a debt note on that property with little equity gain is however.

 

[nyknick]

Buying a home free and clear does not reduce your net worth....

I mean...there are really fundamental principals you guys are missing here

No one said it does.

Yeah you're better off getting a 30-year mortgage, investing your money ... that way you can end up playing in Philippines with Horace Grant when you're fifty years old

 

[R.E.N. Spells Ren]

That's not what people were saying.

You're comparing a $400K condo to a $20M mansion? Again, Dwight's net worth does not make that purchase a smart move. Why is this so hard for some to understand?

Tying up $400K when you're worth $30M is a lot more financially sound than tying up $20M in a down market when your net worth is south of $60M.

In addition, there's nothing wrong with taking out a mortgage. I'd much rather put down $4M on a $20M house and invest that $16M than to dump $20M in a property.

Again...tying up $20M on property is what dudes who are worth $500M+ do...not dudes who are worth $50M with 5 baby mamas.

Dog, if you're sitting on $50M, you shouldn't be buying a $20M home. You and I both agree on that. But it ain't our money.


Once the decision is made to buy the house, provided he can afford the residual expenses, the better option is to buy the house outright.

SMH @ advising niccas who know nothing about investing to just "invest" $16M. Sure, they should avoid the illegitimate kids and silly marriages, but the next biggest thing they should avoid is investing cuz it's the 'thing to do.' They'd be better off just enjoying their money.

 

[JLova]

Buying a home free and clear does not reduce your net worth....

I mean...there are really fundamental principals you guys are missing here

No one said it does.

Yeah you're better off getting a 30-year mortgage, investing your money ... that way you can end up playing in Philippines with Horace Grant when you're fifty years old

Right, if Horace and Scottie could do it all over again, they would have just bought $20M properties outright.

 

[Ed MOTHERFUCKING G]

Buying a home free and clear does not reduce your net worth....

I mean...there are really fundamental principals you guys are missing here

No one said it does.

Yeah you're better off getting a 30-year mortgage, investing your money ... that way you can end up playing in Philippines with Horace Grant when you're fifty years old

Right, if Horace and Scottie could do it all over again, they would have just bought $20M properties outright.

If they could've afforded it ik sure they would have. Mid 90s northern chicago property now would be more than their investments in whatever the fukk lost them their money now.

Get off the cost of the property. 20MM is roughly one years worth of income to dwight howard. It is nothing to spend that much on a property in america, and he did so cash.

 

[JLova]

That's not what people were saying.

You're comparing a $400K condo to a $20M mansion? Again, Dwight's net worth does not make that purchase a smart move. Why is this so hard for some to understand?

Tying up $400K when you're worth $30M is a lot more financially sound than tying up $20M in a down market when your net worth is south of $60M.

In addition, there's nothing wrong with taking out a mortgage. I'd much rather put down $4M on a $20M house and invest that $16M than to dump $20M in a property.

Again...tying up $20M on property is what dudes who are worth $500M+ do...not dudes who are worth $50M with 5 baby mamas.

Dog, if you're sitting on $50M, you shouldn't be buying a $20M home. You and I both agree on that. But it ain't our money.


Once the decision is made to buy the house, provided he can afford the residual expenses, the better option is to buy the house outright.

SMH @ advising niccas who know nothing about investing to just "invest" $16M. Sure, they should avoid the illegitimate kids and silly marriages, but the next biggest thing they should avoid is investing cuz it's the 'thing to do.' They'd be better off just enjoying their money.

Why do you and others act as if a house is not an investment? Diversify your portfolio. There are many low risk investments that will yield a decent return (5-10%).

I don't think buying a house outright is silly. I do think buying a $20M house outright given his situation (salary+endorsements - baby mamas, kids, future earning potential) is stupid. But that's me...

No point arguing on how a multi millionaire should spend his money.

 

[R.E.N. Spells Ren]

That's not what people were saying.

You're comparing a $400K condo to a $20M mansion? Again, Dwight's net worth does not make that purchase a smart move. Why is this so hard for some to understand?

Tying up $400K when you're worth $30M is a lot more financially sound than tying up $20M in a down market when your net worth is south of $60M.

In addition, there's nothing wrong with taking out a mortgage. I'd much rather put down $4M on a $20M house and invest that $16M than to dump $20M in a property.

Again...tying up $20M on property is what dudes who are worth $500M+ do...not dudes who are worth $50M with 5 baby mamas.

Dog, if you're sitting on $50M, you shouldn't be buying a $20M home. You and I both agree on that. But it ain't our money.


Once the decision is made to buy the house, provided he can afford the residual expenses, the better option is to buy the house outright.

SMH @ advising niccas who know nothing about investing to just "invest" $16M. Sure, they should avoid the illegitimate kids and silly marriages, but the next biggest thing they should avoid is investing cuz it's the 'thing to do.' They'd be better off just enjoying their money.

Why do you and others act as if a house is not an investment? Diversify your portfolio. There are many low risk investments that will yield a decent return (5-10%).

I don't think buying a house outright is silly. I do think buying a $20M house outright given his situation (salary+endorsements - baby mamas, kids, future earning potential) is stupid. But that's me...

No point arguing on how a multi millionaire should spend his money.

Name them.

And a house can be an investment, but chances are you're buying a $20M house simply because you want that house. Not for an investment. Sure, has salvage value, so it is an investment, but that's not the motivation for buying it.

 

[JLova]

That's not what people were saying.

You're comparing a $400K condo to a $20M mansion? Again, Dwight's net worth does not make that purchase a smart move. Why is this so hard for some to understand?

Tying up $400K when you're worth $30M is a lot more financially sound than tying up $20M in a down market when your net worth is south of $60M.

In addition, there's nothing wrong with taking out a mortgage. I'd much rather put down $4M on a $20M house and invest that $16M than to dump $20M in a property.

Again...tying up $20M on property is what dudes who are worth $500M+ do...not dudes who are worth $50M with 5 baby mamas.

Dog, if you're sitting on $50M, you shouldn't be buying a $20M home. You and I both agree on that. But it ain't our money.


Once the decision is made to buy the house, provided he can afford the residual expenses, the better option is to buy the house outright.

SMH @ advising niccas who know nothing about investing to just "invest" $16M. Sure, they should avoid the illegitimate kids and silly marriages, but the next biggest thing they should avoid is investing cuz it's the 'thing to do.' They'd be better off just enjoying their money.

Why do you and others act as if a house is not an investment? Diversify your portfolio. There are many low risk investments that will yield a decent return (5-10%).

I don't think buying a house outright is silly. I do think buying a $20M house outright given his situation (salary+endorsements - baby mamas, kids, future earning potential) is stupid. But that's me...

No point arguing on how a multi millionaire should spend his money.

Name them.

And a house can be an investment, but chances are you're buying a $20M house simply because you want that house. Not for an investment. Sure, has salvage value, so it is an investment, but that's not the motivation for buying it.

GIC's, Government bonds, CD's, etc... There are many low risk investments. This is stupid though...Some people are better with money than others and have different priorities.

 

[R.E.N. Spells Ren]

GIC's, Government bonds, CD's, etc... There are many low risk investments. This is stupid though...Some people are better with money than others and have different priorities.

What government bonds are yielding 5-10%?

Ditto CDs? CDs barely beat the inflation. That's the big knock on them.


You're right... some people are better than others with money, which is why you shouldn't be blindly suggesting that niccas who've never had it just "invest." Sinking it in a house that he could later borrow against (likely at a better rate) is much better than taking out a mortgage and trying to beat that mortgage rate in with "investments"