What does $17.1 million get you in LA?

[flcanesfan]

I grew up in SoCal... Trust me you don't want to live anywhere near USC campus

 

[Imukat]

I grew up in SoCal... Trust me you don't want to live anywhere near USC campus

The high rises near Staples/Cryp have luxury residences. Jim Buss used to have a place there.

 

[MedleyCane]

Sounds like FSU fans would be advised to take a **** at Lincoln Riley's house before they go to Doak Campbell

I won't lie, I guffawed upon reading this take. Oro.

 

[Cryptical Envelopment]

That's what helicopters are for. I'm sure he's got access to that as well.

You think he's commuting every day to and from home in a helicopter? Things be crazy these days, but nah!

 

[atlCanesFan]

Not my taste. Weird that he's living 40-45 minutes away from USC, and a lot more if the 110 is jammed. That's a lot of f'ing driving and wasted time down to PVE.

Call me crazy, but that was not my takeaway.

 

[CaneTheGaytors]

Don’t know who you’re talking about. So tell me why they can’t fire him, even though that’s not what it’s about in terms of what I was referring to. It’s about firing someone and then not having to pay his buyout. That’s when the “moral” clause might going into effect, assuming the coach did something to trigger it.

Pretty sure he was referring to Auburn.

 

[Cryptical Envelopment]

I wonder what his net worth is? I’m going to guess around $50 million. Does that sound about right?

So assuming that’s the case, he bought a house that’s 34% of his net worth. That’s tying up a lot of investable money in real estate, I’ve never understood that.

Huh?

Ever heard of a mortgage?

If he has a NW of $50M, and a $100M contract too, he is probably getting 90% financed at some ridiculous USC Credit Union rate, if he even has a mortgage at all. He is probably using an asset backed loan as low as 1% in reality, so that house is a cash machine, and he gets to live in it.

But for the sake of conversation, let's assume he has a mortgage. And I'll use a conservative or normie 2.5%. So he probably put $1.7M down, or only ~3.4% of his net worth, not 34%. That would give him a monthly mortgage payment of ~$60k a month while making $830k a month in gross income (I used a $10M salary as I'm too lazy to look, I think it might actually be higher. EDIT: the skreets say $11M++). Which is only 7% of his gross income. And that money is being invested, not spent.

If the house appreciates 5% a year, that's an annual gain of $850k a year in value, when his payments are only $720k a year.

Real Estate is the great wealth builder. It actually allows people to borrow more than than their net worth, not less, as the loan is collateralized by the asset. And at today's rates? You can RAKE.

 

[Hold My Beer]

Seament pond is fur fishin not the personal bitness.

The things you got to explain to city folks

Bless their hearts

 

[Heart of The Playmaker]

As long as it's not foggy.

Too soon?

Ohhh..come on man....
But real talk...I did have a nice chuckle

 

[flcanesfan]

The high rises near Staples/Cryp have luxury residences. Jim Buss used to have a place there.

True you can hide in a high rise but try walking down the road and there's a good chance you will be mugged, raped or both

 

[LxaCane]

You think he's commuting every day to and from home in a helicopter? Things be crazy these days, but nah!

Probably not everyday but if he needs it, I'm sure he'll get access. People with money value time above everything else.

 

[SayWhat]

I'll tell you what $17.1 million would get me. Two chicks at the same time, that's what. I always wanted to do that, man. And I think if I had $17.1 million, I could hook that up, too. Cause chicks dig dudes with money.

​

There's always Utah and far cheaper to boot.

Just be wary of the ones they try to pawn off because they have a unibrow.

 

[LeavingJesusland]

Yikes

 

[Cajuncane]

You can have a side piece in that place and the wifey would never know..

 

[JD08]

You can have a side piece in that place and the wifey would never know..

Arnold's wife found out.

 

[Cajuncane]

Arnold's wife found out.

Yea but Maria had the secret service helping her…

 

[P-Tizzle]

Who said that, ever?

There are multiple people on this thread making fun of Riley's CFP record and zero national titles. A person doesn't have to literally say the exact words to convey a sentiment.

 

[westcoastcanes]

There are multiple people on this thread making fun of Riley's CFP record and zero national titles. A person doesn't have to literally say the exact words to convey a sentiment.

So nobody said that, thanks.

 

[P-Tizzle]

So nobody said that, thanks.

You're welcome.

 

[Rellyrell]

The high rises near Staples/Cryp have luxury residences. Jim Buss used to have a place there.

And ur neighbors r homeless that openly wack off in public.