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The Bear in the Portal

AtlAtty said:
I hate to be Mr. Financial Advisor, but 4K or anything close to that is a terrible use of money. I don’t care how much money he thinks he has, anyone who spends that money renting instead of owning is a fool. Or rent for half that price, and invest the balance and turn it into something real.

A fool and his money are soon parted.
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2k in LA? Boy gon be ducking shots to penny pinch :ibis-roflmao-sm3:
 
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mlw352 said:
That apartments 2300 to 3000 grand you guys are tripping talking 4000 I have a friend who stays in that same area it’s only a one bedroom apartment why would it be 4000? Lol
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An apartment like that in an area like Brickell will run you between $2500-$3000 a month. I don’t know how much more expensive LA is than Miami but I assume it’s a bit more expensive
 
AtlAtty said:
I hate to be Mr. Financial Advisor, but 4K or anything close to that is a terrible use of money. I don’t care how much money he thinks he has, anyone who spends that money renting instead of owning is a fool. Or rent for half that price, and invest the balance and turn it into something real.

A fool and his money are soon parted.
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He may not even actually be paying for it himself. It would make sense under those circumstances, but of course, in general, I agree with you: if you can afford a $4000 a month apartment payment, you can certainly afford to buy something and build a little equity.
 
HurricanePhilly said:
He bearly played at UGA
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My daughter has lived in and around Los Angeles for 20 years. The real estate market in LA is a little weird because, for a big city the rents are not as high as you would expect, especially when compared to places like new york. That is because there are so many transient people coming in and out of the area that there's a big supply of rental units but to purchase even the smallest run down house around USC you have to spend upwards of $700,000, and that's including most of the condos
 
HurricanePhilly said:
He bearly played at UGA - I know he was a true freshman on a stupid good DL but most of his stats were in blowouts. Probably 2/3 of his snaps were probably TCU, Kent, GTech and whoever the other creampuff on their schedule was...probably Samford or Mercer

He is still all potential and from a kid who basically is at a new school every year and now making pro money....I just think he will be an interesting follow. Maybe he is 2 and done...or maybe he transfers again.
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He’s very good, but I agree on NIL self regulating.

The people running these NIL programs are probably going to face reality sooner rather than later.

At the end of the day they’re businessmen and they need ROI. Obviously ROI isn’t just money in this situation, but if they’re giving out half a million dollar NIL deals and half of the kids are busting, contributing nothing of value to their team they’re going to scale back how much they blindly hand out which is what’s happening right now. Plus with a recession looming, pockets are going to get tight. Unlike the professional sports who keep seeing their salaries go up, I think college athletes are going to see their pay decrease and probably spread out more evenly. I could see NIL deals switching into temporary housing/cars vs cash payments.
 
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DTP said:
An apartment like that in an area like Brickell will run you between $2500-$3000 a month. I don’t know how much more expensive LA is than Miami but I assume it’s a bit more expensive
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It’s basically the same thing tbh except gas bruh floridas gotten more expensive over the past few years so it alls about the same tbh.
 
ItsMeD said:
I agree with the premise. But it wouldn't surprise me if he's not paying for it. Now, if that's the case, ***I*** would prefer that cash in hand at my age. But at 19, 20... idk if I would have said the same thing lol.

I haven't really paid attention to ins and outs of NIL, but if you are someone like John Ruiz, or any other business person who is marketing through NIL, I suspect there would be no issues with partially paying an athlete by leasing them a condo for free, right? I would imagine this would be a better investment than just handing over all of the cash to an athlete because you own the property.
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Agree. NIL is just compensation, just like at work where your job could give you free housing. So compensation can come in any form. But it’s all taxable in any form. I hope these kids are being advised on tax consequences.
 
OriginalCanesCanesCanes said:
He may not even actually be paying for it himself. It would make sense under those circumstances, but of course, in general, I agree with you: if you can afford a $4000 a month apartment payment, you can certainly afford to buy something and build a little equity.
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You are probably right. But then I (at a much more advanced age), would request the payment in dollars and not living arrangements. But as others have noted, try telling this to a teenager, or even a young adult. Hard to advise being financially conservative when pro athletes spend hundreds of thousands on jewelry, clothes and private flights. No one is ever the athlete who went broke at 32, until they are.
 
mlw352 said:
It’s basically the same thing tbh except gas bruh floridas gotten more expensive over the past few years so it alls about the same tbh.
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According to Zillow ( I know, not the most reliable real estate source) median rent in Miami is a lot more than it is in LA.
 
SPAMM said:
My daughter has lived in and around Los Angeles for 20 years. The real estate market in LA is a little weird because, for a big city the rents are not as high as you would expect, especially when compared to places like new york. That is because there are so many transient people coming in and out of the area that there's a big supply of rental units but to purchase even the smallest run down house around USC you have to spend upwards of $700,000, and that's including most of the condos
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I've heard similar. It's almost impossible to own property in LA unless you're incredibly wealthy or inherit it. Yet, it's not too ridiculous to rent an apartment there.
 
AtlAtty said:
You are probably right. But then I (at a much more advanced age), would request the payment in dollars and not living arrangements. But as others have noted, try telling this to a teenager, or even a young adult. Hard to advise being financially conservative when pro athletes spend hundreds of thousands on jewelry, clothes and private flights. No one is ever the athlete who went broke at 32, until they are.
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Totally agree. Not just for athletes, but for the general population, there is very little financial instruction, put simply how to manage your money to live. I’m talking about high school or college or even post graduate. It’s one area that would be so useful, but apparently it’s very low on the list of priorities. I’m sure the last thing on his mind is his credit score, but when he’s in his 30s or 40s, he’s going to realize just how important that is, especially once the easy money stops flowing in, and he has to borrow to make large purchases, including property.
 
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DTP said:
An apartment like that in an area like Brickell will run you between $2500-$3000 a month. I don’t know how much more expensive LA is than Miami but I assume it’s a bit more expensive
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Downtown LA has never been a desired area of LA. It a great place to get bang for your buck since usually there will be some new construction. It’s just not the same as Brickell.

Regardless, great for the kid. Also, talking **** on a kid for renting is meh. There is actually a time and place for renting, especially if you don’t plan on staying in the place for too long which he isn’t.
 
bobbydigius said:
Downtown LA has never been a desired area of LA. It a great place to get bang for your buck since usually there will be some new construction. It’s just not the same as Brickell.

Regardless, great for the kid. Also, talking **** on a kid for renting is meh. There is actually a time and place for renting, especially if you don’t plan on staying in the place for too long which he isn’t.
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Regardless of area, median rent is almost $700 a month lower in LA than in Miami.

Plus if you look at the cost of owning property in Los Angeles , it makes sense to rent a place short term.
 
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