Lebron Buys His 3rd Beverly Hills Mansion for $37M

[WesCrook]

Buying multiple extremely overpriced houses in one of the most expensive and overrated housing markets

A market that’s soon to be shyt due to wildfires and climate change. Only people really making a profit are the sellers and realtors - if it was such a great market how come 3 properties were up for sale in the same area like that?

Breh could have had 20+ mansions in somewhere like Ohio for that price. Could have had extra money to renovate them into community centers/rental properties/etc.

But hey it’s his money so

That's kinda the point, as an investor

 

[Piff Huxtable]

it has two guest houses. maybe one for dareallambo

the other one is for James Jones

 

[Bumblebreh]

That's kinda the point, as an investor

Sure it would have been a smarter purchase in 2010.But as breh said it is not the best investment. It house will not generate enough income to pay for itself and he could sell it at a loss.

 

[Umoja]

Not my money but I dont really understand buying 3 houses in the same area? I assume he selling the others eventually?

Money management.

I don't understand it in great detail either but I imagine that tax is an one aspect. If money is sitting in your account and it earns interest, you have to pay interest on it. It is a bit easier to mark up/down the value of certain properties. I imagine that there are certain rollover advantages with it to, along with allowances if the property is purchased for business purposes.

 

[TRUEST]

Buying multiple extremely overpriced houses in one of the most expensive and overrated housing markets

A market that’s soon to be shyt due to wildfires and climate change. Only people really making a profit are the sellers and realtors - if it was such a great market how come 3 properties were up for sale in the same area like that?

Breh could have had 20+ mansions in somewhere like Ohio for that price. Could have had extra money to renovate them into community centers/rental properties/etc.

But hey it’s his money so

problem is, aint nobody trying to live in bumblefucck ohio where u gotto deal with homicidal weather patterns.
yeah california has always been burning for years, but muffucckas keep coming here cause the weather is just too damn enticing. and if u rich like lebron, iim sure he got insurance on those homes and can dip anytime if the fires become too much for him.

 

[WesCrook]

Sure it would have been a smarter purchase in 2010.But as breh said it is not the best investment. It house will not generate enough income to pay for itself and he could sell it at a loss.

Cali for the most part has always been overpriced. That's nothing new. Best believe that property value will increase over time

 

[Luke Cage]

ya'll also gotta consider his kids will need houses when they grow up. They investments now, potentially gifts later.

 

[MikelArteta]

I remember seeing on CNBC that 60% of NBA players are bankrupt within 5 years of leaving the league, it's even higher for the NFL.

That's why I agree with Lebron constantly diversifying himself on several different fronts. He's highly intelligent and has a good management team around him, I doubt he's making these moves at random.

most stars rarely go broke its the guys who only play a few years but be buying up stuff. THen you're out of the league faster than trent richardson

 

[King Poetic]

How can u hate on what he’s doing off the court

live your life LJ

 

[Crude]

Real estate is the easiest way to make your money make money for you.

I'm sure he has plans for those residences.

 

[philmonroe]

most stars rarely go broke its the guys who only play a few years but be buying up stuff. THen you're out of the league faster than trent richardson

Yeah I don't know why people just parrot shyt with no true understanding of what they're really saying smfh. Guess they just want to sound smart.

 

[LordDeathwatch]

most stars rarely go broke its the guys who only play a few years but be buying up stuff. THen you're out of the league faster than trent richardson

Of course the less heralded utility players making less money on or below the League minimum going broke due to living beyond their means, bad investments, divorce, etc. would make up the bulk of that 60%.

But let's be real Scarf, you can be ridiculously talented and famous and end up broke, happened to AI off the top of my head.

 

[MikelArteta]

Of course the less heralded utility players making less money on or below the League minimum going broke due to living beyond their means, bad investments, divorce, etc. would make up the bulk of that 60%.

But let's be real Scarf, you can be ridiculously talented and famous and end up broke, happened to AI off the top of my head.

AI ain't broke though

But yep a lot of people are stupid, look at a guy like darrius guice got drafted bought jewellery mom a new car flashed money etc.

2 year nfl career made 2.5 mill, prob thought he'd have a long career and now its over.

 

[Prince.Skeletor]

he could do what he wants
if it was me instead of buying mansions I would buy hotels and let the homeless live there.
that would probably require me to hire staff as well like nurses and even psychiatrists

 

[ucanthandlethetruth]

Buying multiple extremely overpriced houses in one of the most expensive and overrated housing markets

A market that’s soon to be shyt due to wildfires and climate change. Only people really making a profit are the sellers and realtors - if it was such a great market how come 3 properties were up for sale in the same area like that?

Breh could have had 20+ mansions in somewhere like Ohio for that price. Could have had extra money to renovate them into community centers/rental properties/etc.

But hey it’s his money so

Location is everything with real estate, no one wants to own property in dusty ass states and cities

You've probably never seen five figures liquid and you are giving financial advise to a soon to be a billionaire with zero knowledge of his finances.

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