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View Full Version : Lebron to spend 49.5 million on Coral Gables house



Ticket Guy
07-17-2010, 11:11 PM
http://nba.fanhouse.com/2010/07/17/report-lebron-james-to-spend-49-5-million-on-coral-gables-home/

JordansBulls
07-17-2010, 11:14 PM
Life & Style is reporting that LeBron James, who recently signed a six-year, $110 million deal with the Miami Heat, has started the paperwork to buy a $49.5 million mansion in the most expensive portion of Coral Gables, Fla. The home was once owned by Pat Riley, and was taken off the market shortly after "The Decision."

The home is the most expensive in Coral Gables, according to Life & Style, and features:

* eight bedrooms and 11 bathrooms;

* 880 feet of waterfront on Biscayne Bay;

* a master suite with a full gym;

* a private guest suite with its own tennis court and courtyard on an acre of land.

* a 150-foot dock

Taxes are about $1 million per year, with an additional $150,000 price tag for utilities. South Florida auto magnate Alan Potamkin owns the home, and he has listed the home for $49.5 million.

Life & Style reports it's a "slam dunk" the home will soon belong to James.



So this guy is going to spend 1 million a year in just taxes???
:speechless:

avrpatsfan
07-17-2010, 11:15 PM
That has to be the best house ever.

ATX
07-17-2010, 11:15 PM
Way to fix that thread JB. Thx

Baseballcb95
07-17-2010, 11:16 PM
haha can anything in ohio compete with that? SICK house though

Wade>You
07-17-2010, 11:16 PM
Dude's paid. How old was he when he signed that $100mil contract w/ Nike?

Dallas Tx4Life
07-17-2010, 11:17 PM
VERY nice, glad to see the King getting a fitting castle!!! Hate away, you broke *****es!

ManRam
07-17-2010, 11:18 PM
That house is better than 99% of the houses on "Cribs" easily.

Amazing house. Can't bash him for going to Miami to live here (http://www.alexshay.com/listings/showimage.asp?imageURL=uploads/M1311206_401_73.jpg&notes=)



Going to see how people spin this into hate. Should be fun :)

Drool. (http://www.alexshay.com/listings/showimage.asp?imageURL=uploads/M1311206_101_49.jpg&notes=)

97NYer
07-17-2010, 11:18 PM
And how much time will he actually spend there?

BradyIsTheMan12
07-17-2010, 11:19 PM
Might as well enjoy his money I guess.

Raidaz4Life
07-17-2010, 11:26 PM
So this guy is going to spend 1 million a year in just taxes???
:speechless:

Damn that's A LOT.... Party at Bron Bron's!

dodie53
07-17-2010, 11:28 PM
wow!

More-Than-Most
07-17-2010, 11:39 PM
This is why celebrity athletes end up bankrupt... Why does any 1 person need that much house.

netsgiantsyanks
07-17-2010, 11:40 PM
im not going to lie, that house is ****ing nice. lets see how lebron re-acts to hot girls down in miami wanting to **** with him when he has a girlfriend.:)

Jahari Kavi
07-17-2010, 11:43 PM
im not going to lie, that house is ****ing nice. lets see how lebron re-acts to hot girls down in miami wanting to **** with him when he has a girlfriend.:)

i'm guessin the same way he would react normally....women chase you no matter your location....

JerzeyFresh
07-17-2010, 11:43 PM
im not going to lie, that house is ****ing nice. lets see how lebron re-acts to hot girls down in miami wanting to **** with him when he has a girlfriend.:)

Lebrons so rich his girlfriend doesnt care how much other ***** he gets.

spreadeagle
07-17-2010, 11:48 PM
imagine if he donated 48 million and bought a 1 million dollar house:rolleyes:

Kevj77
07-17-2010, 11:50 PM
Lebrons so rich his girlfriend doesnt care how much other ***** he gets.Tell that to Tiger.

Penetra8r
07-18-2010, 12:00 AM
All the money is evil

shep33
07-18-2010, 12:09 AM
What a terrible move, and this goes for most athletes. He just spend half his contract on that house. Now all I'm saying is that I don't want to see him become like a Scottie Pippen, Antoine Walker, and the multitude of other NBA players who go bankrupt.

I have no sympathy for athletes who blow away millions of dollars as if its nothing. You gotta remember too, he's probably going to buy all his friends cars, places to stay, gifts, etc.

69centers
07-18-2010, 12:12 AM
This is why celebrity athletes end up bankrupt... Why does any 1 person need that much house.

Exactly, and he says he wants to be a billionaire, well this certainly isn't the smartest financial move he could have made with 49.5 million. I'm sure a 20 million dollar home would have been sufficient, and investing the other 29.5 million would surely be the wiser move. Heck, seven 7 million dollar properties would have been a better financial move than one for 49 million.

Big Quett
07-18-2010, 12:15 AM
What a terrible move, and this goes for most athletes. He just spend half his contract on that house. Now all I'm saying is that I don't want to see him become like a Scottie Pippen, Antoine Walker, and the multitude of other NBA players who go bankrupt.

I have no sympathy for athletes who blow away millions of dollars as if its nothing. You gotta remember too, he's probably going to buy all his friends cars, places to stay, gifts, etc.
Dude has already made twice what any of those people made. Do you really think he is going to end up broke? Lebron is one of the most marketable stars in the world. He had 90 mil guaranteed before he went to prom. He probably will never touch his new contract's money. Most of the NBA'ers got in trouble trying to compete with Jordan. People said all the time how Scottie and Antoine would gamble at the casinos with Jordan.

People like Jordan, Kobe and LeBron DONT GO BROKE. For all the hate LeBron gets he is not stupid enough to blow his money away.

Broadwayjoe NY
07-18-2010, 12:27 AM
I tell ya what, I've traveled all over the south and consider myself pretty knowledgeable with the history of our great country....and if that isn't the best damned slave house in the world, than I don't know what is...

fins08
07-18-2010, 12:35 AM
why is this a hate thread. lebron signed a 110 million dollar contract and matches his playing salary with endorsements. its fine, who cares where he lives or what he spends his own earned paycheck on. is it rude if i question every financial decision you make.

shep33
07-18-2010, 12:40 AM
Dude has already made twice what any of those people made. Do you really think he is going to end up broke? Lebron is one of the most marketable stars in the world. He had 90 mil guaranteed before he went to prom. He probably will never touch his new contract's money. Most of the NBA'ers got in trouble trying to compete with Jordan. People said all the time how Scottie and Antoine would gamble at the casinos with Jordan.

People like Jordan, Kobe and LeBron DONT GO BROKE. For all the hate LeBron gets he is not stupid enough to blow his money away.

The one thing I question about his business is the entourage he hangs around with. I could be wrong, but MJ and definitely Kobe didn't have entourages. I don't like how that one dude is running things in Lebron's "camp", Maverick or something like that? People like that and his full posse are always bad news when it comes to financials. Those people will always take much more than they give back. I'm just saying, 50 mill on a house, plus an extra mil every year for taxes, cars, the lifestyle... it adds up. Miami is a very tempting city as well... women, cars, yachts, etc.

I read that Kobe's house in LA was 13 mill. Pretty crazy to pay 50 mill, most of all I just hope the guy makes his own decisions, not influenced by his buddies.

BobSagetSucks
07-18-2010, 12:46 AM
good for lebron

Mattb7
07-18-2010, 12:46 AM
His house in Cleveland was just as huge. Don't understand why he would need such a big house it's very unnecessary. I understand a mansion but that is massive.

Shark
07-18-2010, 12:51 AM
NBA Players(Not All) Are some of the worst investors in this world. No wonder you hear of them going bankrupt, just one example is Antoine Walker who made like 110 million in his career.

Now of course LeBron has a little more money then that, but none the less, is there an actual point of the house? Take a page out of Mike Comrie, heir to a BILLION dollar company, in The Bricks and you dont see him nor other NHL players buying that stuff, a lot of the hockey guys are actually smart guys, surprising with some of the hits they take.

But anyways good luck to him!

Kyben36
07-18-2010, 12:52 AM
whats he going to do, move all his freinds from CLE to live with him.

bleedprple&gold
07-18-2010, 12:59 AM
That ain't no house, its a goddam private resort...

knickfan4life
07-18-2010, 01:01 AM
I'm reading some of these posts about bankruptcy and he should donate the money LOL... wow, this is not just a HOUSE, its something he HAS to do when hes this big of a celebrity and also, its and INVESTMENT... markets down now, even if it isint in that area, value can only RISE... he will sell it in 4 years and make a $5M profit on it and, well, what do you know, that tax and electricity money, he just got it all back :) you expect him to live in a normal neighborhood? yeah ok... i'd like to see you do that when your making $40M a year

Hellcrooner
07-18-2010, 01:05 AM
and now you know how nba milionaires go bankrupt he is basically spending 65% of his BRUTE new contract on this and after taxes probably he is wasting 90% of it.

daleja424
07-18-2010, 01:05 AM
lmao at people saying he wasted his money...

you guys do know that he could sell the house and get that back right?

Its not like he is buying 50 mil worth of gum or something...

Tmath
07-18-2010, 01:07 AM
all i can say is athletes get paid way to much money but thats a whole new conversation.

Giantwarrior
07-18-2010, 01:08 AM
Give it a month and that waterfront property will flooded with Oil from the Gulf.

looks like proceeds went to Lebron and not to the Boys and Girls Club.

Hellcrooner
07-18-2010, 01:08 AM
lmao at people saying he wasted his money...

you guys do know that he could sell the house and get that back right?

Its not like he is buying 50 mil worth of gum or something...

second hand houses ( like Cars Or guitars as long as they are not "vintage" like a 51 fender p bass or a 69 ford mustang ) decrease teir vale.

He wasts 50 million now in ten years he will get 35 for it and that without taking inflation into the equation.

RaysFan
07-18-2010, 01:09 AM
The $1.1 million in taxes is what will really get him. That is insane. I will let LeBron do whatever he wants but man...$50 million for a home is just rough.

The Flash
07-18-2010, 01:09 AM
lmao at people saying he wasted his money...

you guys do know that he could sell the house and get that back right?

Its not like he is buying 50 mil worth of gum or something...

lol

The Flash
07-18-2010, 01:11 AM
i think thats the same house i've seen in a link here couple days before the Decision...it was then rumored that he was looking at that house

Hellcrooner
07-18-2010, 01:11 AM
ill bet yo wahteer yo want than 20 years from now Wade ha smore money in the bank than Lebron

The Flash
07-18-2010, 01:14 AM
More pictures here:
http://www.alexshay.com/listings/propertylistings.asp?propertyID=297

Shark
07-18-2010, 01:15 AM
lmao at people saying he wasted his money...

you guys do know that he could sell the house and get that back right?

Its not like he is buying 50 mil worth of gum or something...

You are obviously one of unintelligence, so I will just give you a breakdown sir heat fan.

You write as if he will be able to sell the house just with a snap of a finger. I dont know if you know anything at all about real estate and how the market works, but nothing is ever guaranteed in stone and property value CAN and HAS gone down in Florida. There are houses that stay on the market for years and are much more affordable. To add on top, you are already eliminating over 99.90% of the people on this planet who cant afford this house, so you have about 6 million people in the world. breaking numbers down further, approximately only 1.5-2 million people in North America that could potentially buy the house, which I am pretty sure is not actually stupid because they probably didnt get to where they are playing a game.

HoopsDrive
07-18-2010, 01:16 AM
With this kind of spending sprees going around it's no wonder that NBA athletes go bankrupt so often.

Switch
07-18-2010, 01:20 AM
Damn, 50 million, that is insane. If I had such a rich house, I'd be throwing parties everyday!

Hellcrooner
07-18-2010, 01:21 AM
You are obviously one of unintelligence, so I will just give you a breakdown sir heat fan.

You write as if he will be able to sell the house just with a snap of a finger. I dont know if you know anything at all about real estate and how the market works, but nothing is ever guaranteed in stone and property value CAN and HAS gone down in Florida. There are houses that stay on the market for years and are much more affordable. To add on top, you are already eliminating over 99.90% of the people on this planet who cant afford this house, so you have about 6 million people in the world. breaking numbers down further, approximately only 1.5-2 million people in North America that could potentially buy the house, which I am pretty sure is not actually stupid because they probably didnt get to where they are playing a game.

dont forget that for wahteve rtime the house is being shopped until unavoidable selling it way beyond market price out of desepratin you ahve to pay the wages and taxes to mantain it.

jimm120
07-18-2010, 01:22 AM
Maybe this was part of the deal to get him to Miami?

Nothing official, just "off the books" kind of thing.


They told him, "Hey, we'll give you this house for cheap plus the contract and whatever else...just come play here".

The mini-resort might have been listed at 50 million, but it might be that LeBron is getting it for $20 - $30 because of the "tough housing market". Ya know, he got himself a "steal" because the housing market is so bad now.

I don't think he paid $50 million. I think they gave him a "special" price as something that was given to him to persuade him to come to Miami.



second hand houses ( like Cars Or guitars as long as they are not "vintage" like a 51 fender p bass or a 69 ford mustang ) decrease teir vale.

He wasts 50 million now in ten years he will get 35 for it and that without taking inflation into the equation.

Dude...you know nothing of the housing market!
I'm not saying I'm an expert, but unless you're buying in a place such as Detroit, Cleveland, etc, you're house will ONLY go up in price. Yeah, there are times in history where prices go down (such as now), but for the most part, property prices (houses, land, etc) go up over time. Mostly because of inflation, but also from just being there.

And what's this about "used houses go down in price but new houses go up in price" thing you're talking about? New houses start out expensive and they DO have a higher rate of increment during its first initial years, but that's it. After a while, those "new" houses become the "old houses" after a 5 to 10 years and they increase their value at the same rate as every other house.






But yeah, LeBron is an idiot for buying that. Guess he likes the the "high life", cause this is the kind of place that is a "mini resort", as someone mentioned, and its just for gatherings mostly.

Switch
07-18-2010, 01:24 AM
So this guy is going to spend 1 million a year in just taxes???
:speechless:

That is just crazy.

ChiSox219
07-18-2010, 01:25 AM
LOL at people bashing Lebron for spending 2+ years earnings on a home. Most people buy houses at prices equal to 5-10 years of earnings.

Will he be able to sell it when he wants to, nope. But at least it's a tangible asset.

Most of these guys that go broke spend it on investments that fail (see Scottie Pippen), gamble it away, or blow it on drugs/strippers/junk.



With all that said, I'm not sure it is the wisest move to go out and drop $50m on a house when his image is in need of repair at the moment. But hey, he's got a contract, it doesn't matter if people stop buying his stuff, he's paid.

Hellcrooner
07-18-2010, 01:25 AM
Maybe this was part of the deal to get him to Miami?

Nothing official, just "off the books" kind of thing.


They told him, "Hey, we'll give you this house for cheap plus the contract and whatever else...just come play here".

The mini-resort might have been listed at 50 million, but it might be that LeBron is getting it for $20 - $30 because of the "tough housing market". Ya know, he got himself a "steal" because the housing market is so bad now.

I don't think he paid $50 million. I think they gave him a "special" price as something that was given to him to persuade him to come to Miami.




Dude...you know nothing of the housing market!
I'm not saying I'm an expert, but unless you're buying in a place such as Detroit, Cleveland, etc, you're house will ONLY go up in price. Yeah, there are times in history where prices go down (such as now), but for the most part, property prices (houses, land, etc) go up over time. Mostly because of inflation, but also from just being there.

And what's this about "used houses go down in price but new houses go up in price" thing you're talking about? New houses start out expensive and they DO have a higher rate of increment during its first initial years, but that's it. After a while, those "new" houses become the "old houses" after a 5 to 10 years and they increase their value at the same rate as every other house.






But yeah, LeBron is an idiot for buying that. Guess he likes the the "high life", cause this is the kind of place that is a "mini resort", as someone mentioned, and its just for gatherings mostly.

or maybe " someone" or "some esecutive from some team" is paying it and they say labron pays it so they dong get caught tampering?


Lol thats what you are implying?

Hellcrooner
07-18-2010, 01:27 AM
Maybe this was part of the deal to get him to Miami?

Nothing official, just "off the books" kind of thing.


They told him, "Hey, we'll give you this house for cheap plus the contract and whatever else...just come play here".

The mini-resort might have been listed at 50 million, but it might be that LeBron is getting it for $20 - $30 because of the "tough housing market". Ya know, he got himself a "steal" because the housing market is so bad now.

I don't think he paid $50 million. I think they gave him a "special" price as something that was given to him to persuade him to come to Miami.




Dude...you know nothing of the housing market!
I'm not saying I'm an expert, but unless you're buying in a place such as Detroit, Cleveland, etc, you're house will ONLY go up in price. Yeah, there are times in history where prices go down (such as now), but for the most part, property prices (houses, land, etc) go up over time. Mostly because of inflation, but also from just being there.

And what's this about "used houses go down in price but new houses go up in price" thing you're talking about? New houses start out expensive and they DO have a higher rate of increment during its first initial years, but that's it. After a while, those "new" houses become the "old houses" after a 5 to 10 years and they increase their value at the same rate as every other house.






But yeah, LeBron is an idiot for buying that. Guess he likes the the "high life", cause this is the kind of place that is a "mini resort", as someone mentioned, and its just for gatherings mostly.

you know that current Crisis has made houses to go down in price all over the world do you?

well big news the situation is not going to get better but instead go worse.

kikeyanez
07-18-2010, 01:30 AM
guy is a idiot

oak2455
07-18-2010, 01:33 AM
I heard Wade wants him back:p

NetsPaint
07-18-2010, 01:37 AM
Pics or didn't happen.

FachoinaNYY
07-18-2010, 01:38 AM
second hand houses ( like Cars Or guitars as long as they are not "vintage" like a 51 fender p bass or a 69 ford mustang ) decrease teir vale.

He wasts 50 million now in ten years he will get 35 for it and that without taking inflation into the equation.

This entire statement is completely and totally incorrect.

*Superman*
07-18-2010, 01:49 AM
Lol. I just can't see him playing second to Wade. He has to be number 1 in everything. Nice *** house, I'm not trying to bash him.

BronBron06
07-18-2010, 01:57 AM
I dont know about his personal life though

But this is a huge gamble I say


If he made a DYNASTY in Miami, I guess that house is for keeps

If not, he's going broke or need to sell that land pronto



WHO said a HOUSE LIKE THAT IS AN ASSET, even if the price goes up, how about maintenance and other stuff.

Seriously, LeBron needs financial guru by his side, UNLESS like someone stated above about shading tampering deal... then it's fine I guess

JayHunter
07-18-2010, 01:58 AM
wow

plpfctn
07-18-2010, 02:01 AM
a big house for his big ego. But he'll never have what he truly wants--a championship ring. maybe kobe can sell him one of his five rings.

JNA17
07-18-2010, 02:30 AM
Even a house like that is not big enough to fit Lebron's ego.

However with that said, Lebron will you adopt me!? :D

Dallas Tx4Life
07-18-2010, 02:34 AM
all i can say is athletes get paid way to much money but thats a whole new conversation.

Well the owners make more and it's off of the player's performance. Players get paid what they do because of how much we pay to see them. Bottom line

strokeman
07-18-2010, 02:36 AM
hope he knows his market value went down! he better watch his money!

Wizard of O's
07-18-2010, 02:45 AM
Dude's paid. How old was he when he signed that $100mil contract w/ Nike?

18

lebron will be a billionare by 3o

:facepalm:

Dallas Tx4Life
07-18-2010, 02:48 AM
hope he knows his market value went down! he better watch his money!

Yeah he's probably almost all out, huh? :laugh: Couldn't help but burst out in laughter on that one!

Rox07
07-18-2010, 02:52 AM
I wish i could be lebron's financial advisor... first of all a house is not an asset its a liability and a huge one in lebrons case (1 mil + on expenses each year!!!)

also hellcrooner, everything you said is the exact opposite of correct.

PrettyBoyJ
07-18-2010, 02:54 AM
LeBron is prob making money on the side.. Lebron is a brand, as much as ppl hate theres an equal amount of ppl that love, he gets his own prime time special... no tv station wouldnt kill to give lebron a prime time special.. we may think he blew his money on a house but this could be one of several moves to make him reach the billion goal he set for him self.. and the guy is still young, when he's out of his contract he prob will get a contract avg. close to 30 mil a year like Kobe..

Dallas Tx4Life
07-18-2010, 02:58 AM
LeBron is prob making money on the side.. Lebron is a brand, as much as ppl hate theres an equal amount of ppl that love, he gets his own prime time special... no tv station wouldnt kill to give lebron a prime time special.. we may think he blew his money on a house but this could be one of several moves to make him reach the billion goal he set for him self.. and the guy is still young, when he's out of his contract he prob will get a contract avg. close to 30 mil a year like Kobe..

Uhh... Yeah! You could say that.. Maybe the haters should wait until he's 30 before throwing all the doubt his way. That stuff has to fuel him into working harder. He is gonna hurt the Cavs when they play next year. Screw a little crowd noise in Cleveland, it will only fuel the fire..

thesprite
07-18-2010, 03:02 AM
a big house for his big ego. But he'll never have what he truly wants--a championship ring. maybe kobe can sell him one of his five rings.

too early to tell.. either you want to pick up a fight here in this thread or you want to lure other "haters".. maybe both..

grow up..

_KB24_
07-18-2010, 03:06 AM
Wonder why their wasn't an ESPN special showing what house he would choose :mad:

Easily the best decision he's made this year. Heck, it might even be an investment considering the value of land in Miami, especially waterfront. I say he sells it for more than he bought it. Amazing house, no doubt.

Dallas Tx4Life
07-18-2010, 03:15 AM
I agree, thesprite. You just can't say never ESPECIALLY when you mention a great talent like LeBron... Even when it goes down to the MJ debate. You just can't say never. You can think it's highly unlikely or whatever but what if some kid comes out next year that makes every shot and wins 10 rings in a row... Unlikely? Yes, but you just can't come out and say, "Oh, it will never happen."

Hugbees
07-18-2010, 03:27 AM
VERY nice, glad to see the King getting a fitting castle!!! Hate away, you broke *****es!

You keep telling everyone that they should stop being so obsessed with Lebron yet I see your name in every single one of these threads. :facepalm:

bigsams50
07-18-2010, 10:25 AM
Damn thats alotta house

d00d
07-18-2010, 10:32 AM
Real Estate is going to continue to plummet. He is going to take a beating on that home.

Hope he continues to take a beating in the court of public opinion

JIDsanity
07-18-2010, 10:40 AM
Great "Decision."
:rolleyes:

ManRam
07-18-2010, 10:42 AM
LOL at people bashing Lebron for spending 2+ years earnings on a home. Most people buy houses at prices equal to 5-10 years of earnings.

Will he be able to sell it when he wants to, nope. But at least it's a tangible asset.

Most of these guys that go broke spend it on investments that fail (see Scottie Pippen), gamble it away, or blow it on drugs/strippers/junk.


This.

The fact of the matter is, 50 million dollars for him is 2 years worth of wages. I'm sure for us normal people, the house we'll buy will be worth way more than 2 years worth of wages. For the amount of money he makes, this isn't going to ever cripple him.

People saying he's going to turn out like Scottie. Hahaha. There isn't a single parallel here.


It's funny to me how quick people are to hate. Let the man do what he wants. He can easily, easily, easily afford that house. He's going to make well over a billion dollars in his lifetime, perhaps two..and buying a house, even in todays economy, is always a safer investment than blowing it on planes, cars, yachts, clothes, jewelry, vacations...or just about anything else you can waste millions of dollars on.

fins08
07-18-2010, 10:47 AM
Now is he gonna live off the rest of the 60 mill on his contract? not including endorsements?

BronBron06
07-18-2010, 10:51 AM
So where do I apply to become LeBron's butler?

omdigga
07-18-2010, 10:52 AM
damn... imagine the poor guy didnt take a pay cut!! what a team guy, willing to rough it for the love of rings..

Ray_R
07-18-2010, 11:04 AM
Nice House But wont beat My room./

Daze9900
07-18-2010, 11:18 AM
i'm guessin the same way he would react normally....women chase you no matter your location....

Hotter chicks in miami than cleveland tho.

hawksd911
07-18-2010, 11:25 AM
And he's gonna have to pay for people to clean the house

kjoke
07-18-2010, 11:33 AM
11.5 bathrooms, wtf? why do you need those, u cant take a dump, piss, shower in one or two?

BcEuAbRsS
07-18-2010, 11:33 AM
imagine if he donated 48 million and bought a 1 million dollar house:rolleyes:

cmon... its his money and he can spend it how he pleases...

I dont care for Lebron but damn thats a nice house and in now way would I ever move to south beach and still have a girlfriend!

Jah king
07-18-2010, 11:35 AM
so this guy is going to spend 1 million a year in just taxes???
:speechless:

pure glut

Gators123
07-18-2010, 11:46 AM
Its his money, I would do the same thing if I was in the same position.

DCSportsIsPain
07-18-2010, 12:15 PM
A player with more money than brainpower buying a ridiculously expensive home isn't NBA news, it's tabloid material.

Big Quett
07-18-2010, 12:16 PM
cmon... its his money and he can spend it how he pleases...

I dont care for Lebron but damn thats a nice house and in no way would I ever move to south beach and still have a girlfriend!

lol quote of the off-season.

prodigy
07-18-2010, 12:18 PM
He has to sell his house back in Akron now. No way even him could afford that.

BTW- Last time I checked nobody is running around Akron with 50 million bucks, so have fun selling that. Someone will get a great deal lol.

prodigy
07-18-2010, 12:35 PM
Hotter chicks in miami than cleveland tho.


Depends what kind you like. Fake chicks who are out for money, then sure Miami.

Every city has hot chicks.

USMCLaker
07-18-2010, 12:39 PM
And he's gonna have to pay for people to clean the house

I'd hire some of those hot latina's on the beach and put them in french maid outfits.

USMCLaker
07-18-2010, 12:41 PM
Depends what kind you like. Fake chicks who are out for money, then sure Miami.

Every city has hot chicks.

Not every city. I lived in Portland for three years and only saw one hot Italian chick.

Jaji
07-18-2010, 12:46 PM
Wow a Coral Gables mansion. Nice. Tony Montana's mansion in that movie Scarface was in Coral Gables.

MIAMI >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Cleveland :laugh2:

d00d
07-18-2010, 12:47 PM
Did I read this was once Riley's home?

Jaji
07-18-2010, 12:57 PM
Depends what kind you like. Fake chicks who are out for money, then sure Miami.

Every city has hot chicks.

Sure every city has a hot chick or two, but not every city has a plethora of many different types of hot chicks like Miami.

For you to say this means 1 of 2 things:

1) You've never been to South Beach.

or

2) You struck out multiple times on South Beach and are now generalizing every woman in a huge city as being fake and out for money.

Miami is nice. Trust me. Ridiculously beautiful women all over the place from all walks of life. Come on I know beautiful Doctors in Miami. You're gonna tell me she's fake and out for money? Just because she lives in Miami, a city where millions of people live because its absolutely gorgeous?

I've been to Cleveland a few times. I've been to Miami many times. You can guarantee that the chick factor is definitely one of the reasons for that ratio ;).

USMCLaker
07-18-2010, 12:59 PM
Here's a point we can all agree on: Hot chicks rule!!!

avrpatsfan
07-18-2010, 01:15 PM
It's not like he's buying a 20 million dollar car. It's a house. A house is the best investment you can make because it's almost guaranteed the value will go up. If he ever loses all of his money he can sell the house for at least 49.5 million dollars and downgrade to a 10 million dollars house.

Knick4Knack
07-18-2010, 01:25 PM
What's happening here is that LeBron is caught between serving two masters. He has already chosen one, which makes this decision awkward.

Master One: Be the CENTERPIECE of a championship team. Establish his BRAND and grow it as much as possible, yielding high financial return. He becomes a billionaire this way.

Master Two: Play within a team concept, win championships without enormous personal accolades. His scoring average make take a hit. He may no longer be league MVP. But he will have rings.

LeBron clealy chose Master Two, and to his credit. Having done this, he must now be prudent and not fall into the trap of behaving like he is beneath the shade of master one. His brand is strong, but by playing alonside a player of Wade's caliber it has taken a hit. He can no longer be King James. That would be disrespectful to Wade, who has accomplished more already. Remember, Wade already earned his ring, and boy did he earn it!

Remember that memo Russian Billionaire Prokhorov inadvertently left out in the open to be discovered, which stated that if LeBron were to go to Miami, he would damage his brand? Guess what, people in Prokhorov's position don't make those types of mistakes. It was a warning to James, an intentionally placed warning of what to expect.

There is no problem in James choosing Master Two. Actually, it is admirable. But his earning potential will not be the same. Beside Wade, who has proven he can carry a team to a ring, he could easily become the sidekick. That being a reality, he really should reconsider leading the life of a billionaire.

HiphopRelated
07-18-2010, 01:42 PM
imagine if he donated 48 million and bought a 1 million dollar house:rolleyes:
why?

It's his money

effen5
07-18-2010, 01:47 PM
lmao at people saying he wasted his money...

you guys do know that he could sell the house and get that back right?

Its not like he is buying 50 mil worth of gum or something...

Sell the house to who? Who the hell is going to buy a house thats worth 50mil in this economy? Billionaires right now are trying to save money.

Dumb move by Lebron financially

But all hating aside, jesus ****in christ that house is GORGEOUS! :speechless:

effen5
07-18-2010, 01:48 PM
Did I read this was once Riley's home?

Yes, it was previously own by Riley then owned by someone else now Lebron.

jaded01
07-18-2010, 01:54 PM
It's not like he's buying a 20 million dollar car. It's a house. A house is the best investment you can make because it's almost guaranteed the value will go up. If he ever loses all of his money he can sell the house for at least 49.5 million dollars and downgrade to a 10 million dollars house.

dear man who has lived in a bubble since 2007,

housing prices do trend to increase over time but this is due to population growth and inflation. housing prices have deteriorated recently due to credit problems that do not appear to be soon alleviated. a house this expensive is very hard to sell because there are simply very few people who are capable of buying this house. a standard $200k house will probably be sold for more than that in 20 years because there are more people demanding $200k houses... but even then it does not factor in maintenance costs, property taxes, and any other associated fees. moreover, when taxes rise (which seems imminent) more people will have less real income to fork out $1 mill per year in property taxes alone. spending $50 mill on this house is a risk like anything else. it may well end up a good one for lebron... but it is not a license to print money in the future.

sincerely,
economics.

edit: if you are from boston as your avatar would seem to point to, you would be falling under the representation of barney frank. this explains your logic perfectly.

effen5
07-18-2010, 01:58 PM
dear man who has lived in a bubble since 2007,

housing prices do trend to increase over time but this is due to population growth and inflation. housing prices have deteriorated recently due to credit problems that do not appear to be soon alleviated. a house this expensive is very hard to sell because there are simply very few people who are capable of buying this house. a standard $200k house will probably be sold for more than that in 20 years because there are more people demanding $200k houses... but even then it does not factor in maintenance costs, property taxes, and any other associated fees. moreover, when taxes rise (which seems imminent) more people will have less real income to fork out $1 mill per year in property taxes alone. spending $50 mill on this house is a risk like anything else. it may well end up a good one for lebron... but it is not a license to print money in the future.

sincerely,
economics.

edit: if you are from boston as your avatar would seem to point to, you would be falling under the representation of barney frank. this explains your logic perfectly.

lmfao

:clap:

1-800-STFU
07-18-2010, 01:59 PM
Good for you Lebron. Donate to me.

Hellcrooner
07-18-2010, 02:04 PM
Lol.
There are hot Chicks in every city with more ha 5000 inhabitants everyywhere in the world.

effen5
07-18-2010, 02:12 PM
I'd hire some of those hot latina's on the beach and put them in french maid outfits.

THIS! or like that one bangbros site dirty latina maids :P

LA_Raiders
07-18-2010, 02:22 PM
lol

Hellcrooner
07-18-2010, 02:37 PM
dear man who has lived in a bubble since 2007,

housing prices do trend to increase over time but this is due to population growth and inflation. housing prices have deteriorated recently due to credit problems that do not appear to be soon alleviated. a house this expensive is very hard to sell because there are simply very few people who are capable of buying this house. a standard $200k house will probably be sold for more than that in 20 years because there are more people demanding $200k houses... but even then it does not factor in maintenance costs, property taxes, and any other associated fees. moreover, when taxes rise (which seems imminent) more people will have less real income to fork out $1 mill per year in property taxes alone. spending $50 mill on this house is a risk like anything else. it may well end up a good one for lebron... but it is not a license to print money in the future.

sincerely,
economics.

edit: if you are from boston as your avatar would seem to point to, you would be falling under the representation of barney frank. this explains your logic perfectly.

THanks
Thats what i was telling.

And the best answeres to that were

" you are 100% incorrect" with no furter explanation:rolleyes:

jkiddvc20
07-18-2010, 02:48 PM
Lebrons kids are soo lucky..

Jaji
07-18-2010, 03:02 PM
Lebrons kids are soo lucky..

THIS.

I mean, sans their grandmother being a whore. But man I would love to be able to give my kids what he's able to. That's really what its all about.

TheWatcher34
07-18-2010, 03:16 PM
nice castle

The Raven
07-18-2010, 04:40 PM
Good lord. No idea you could even buy a house for that price

_KB24_
07-18-2010, 04:58 PM
This.

The fact of the matter is, 50 million dollars for him is 2 years worth of wages. I'm sure for us normal people, the house we'll buy will be worth way more than 2 years worth of wages. For the amount of money he makes, this isn't going to ever cripple him.

People saying he's going to turn out like Scottie. Hahaha. There isn't a single parallel here.


It's funny to me how quick people are to hate. Let the man do what he wants. He can easily, easily, easily afford that house. He's going to make well over a billion dollars in his lifetime, perhaps two..and buying a house, even in todays economy, is always a safer investment than blowing it on planes, cars, yachts, clothes, jewelry, vacations...or just about anything else you can waste millions of dollars on.

Your joking right.......:laugh2:

The odds of him even grazing a billion are slim to none. Tiger hardly touched a billion dollars and Jordan is nowhere near 1 billion and he's still making the most out of all "basketball" players annualy close to 55 million.

gbpackers12
07-18-2010, 05:00 PM
That's a little over the top, but he's earned it.

Hellcrooner
07-18-2010, 05:09 PM
he will never do a REAL billion wich is one million of millions.

dpospish
07-18-2010, 05:15 PM
he will never do a REAL billion wich is one million of millions.

What are you talking about?

COOLbeans
07-18-2010, 05:16 PM
imagine if he donated 48 million and bought a 1 million dollar house:rolleyes:

Here here!! :clap:

also: how is Bron going to be a billionaire spending almost 50 million on 1 house? that's some millionaire type of spending.. billionaires save their money and cut pennies imo..

COOLbeans
07-18-2010, 05:21 PM
Your joking right.......:laugh2:

The odds of him even grazing a billion are slim to none. Tiger hardly touched a billion dollars and Jordan is nowhere near 1 billion and he's still making the most out of all "basketball" players annualy close to 55 million.

how do you figure that? we can't judge the amount of money that the truly rich claim they have.. as you probably know, the rich hide a lot of their money.. MJ and Tiger both have a billion.. guarantee it..just look at the amount of $$ each of their ex'es either got or in Tiger's case is going to get after their respective divorces.. c'mon now.. they both paid or will pay over 100 million $$ and if they had less than a billion that would be more than a tenth of their entire worth.. The divorce court system is bad, but it's not that bad.. both athletes are well over a billion..but probably not by much. And if I had to guess, Tiger has more money than MJ.

effen5
07-18-2010, 05:29 PM
how do you figure that? we can't judge the amount of money that the truly rich claim they have.. as you probably know, the rich hide a lot of their money.. MJ and Tiger both have a billion.. guarantee it..just look at the amount of $$ each of their ex'es either got or in Tiger's case is going to get after their respective divorces.. c'mon now.. they both paid or will pay over 100 million $$ and if they had less than a billion that would be more than a tenth of their entire worth.. The divorce court system is bad, but it's not that bad.. both athletes are well over a billion..but probably not by much. And if I had to guess, Tiger has more money than MJ.

MJ is an icon

Lebron isn't

Mj's Nike Jordan Brand is well worth over a billion dollars

LBJ brand isn't close will it ever make a billion

jaded01
07-18-2010, 05:29 PM
how do you figure that? we can't judge the amount of money that the truly rich claim they have.. as you probably know, the rich hide a lot of their money.. MJ and Tiger both have a billion.. guarantee it..just look at the amount of $$ each of their ex'es either got or in Tiger's case is going to get after their respective divorces.. c'mon now.. they both paid or will pay over 100 million $$ and if they had less than a billion that would be more than a tenth of their entire worth.. The divorce court system is bad, but it's not that bad.. both athletes are well over a billion..but probably not by much. And if I had to guess, Tiger has more money than MJ.

tiger has MADE a billion but is not worth a billion... he's between $600 and $700 million... and the divorce will get him. michael is worth around $550 mil post divorce. these are forbes estimates btw.

nick22290
07-18-2010, 05:34 PM
@More-Then-Most

LeBron, unlike most other NBA players, has enough cash lying around to actually buy this house. He collects absurd amounts of money through his NBA salary and endorsement contracts and will most likely earn over one-billion in his lifetime. Why not enjoy life to the fullest if you have the $$$?

jim51990
07-18-2010, 05:56 PM
a-maz-ing

Hellcrooner
07-18-2010, 07:06 PM
What are you talking about?

http://en.wikipedia.org/wiki/Billion

http://simple.wikipedia.org/wiki/Billion

CQSox305
07-18-2010, 07:24 PM
Insane house, I knew he would get a nice place but daaaammmnnn!

COOLbeans
07-18-2010, 08:36 PM
tiger has MADE a billion but is not worth a billion... he's between $600 and $700 million... and the divorce will get him. michael is worth around $550 mil post divorce. these are forbes estimates btw.

'Forbes estimates by the way?' exactly my point thanks for proving it..Forbes is not the answer for figuring net worth.. rich people hide their money!! if they're saying 550 million then you could probably multiply that by 2..;)

justinnum1
07-18-2010, 08:52 PM
What are his property taxes going to be?

Jonathan2323
07-18-2010, 08:54 PM
What are his property taxes going to be?

1 million per year.

Dallas Tx4Life
07-18-2010, 08:55 PM
Insane house, I knew he would get a nice place but daaaammmnnn!

The King deserves a fitting castle... Where does DWade live?

tangent12
07-18-2010, 08:57 PM
Yikes!! O_O

Do0msday
07-18-2010, 09:12 PM
I just don't see the point of this. Obviously if you get big money you'll buy a really nice house ... but that's going to the extreme. $50 mil for the house, not to mention the utilities and taxes. This is exactly why athletes go broke. I know he's got a lot of money, but 1 day the source of income will cease and he won't have anything to fall back on. $50 mil is an absurd WASTE of money. The guy wants to become a billionaire...this isn't the house you buy until you're a billionaire.

cav_till_i_die
07-18-2010, 09:14 PM
So this guy is going to spend 1 million a year in just taxes???
:speechless:

Sad thing is thats really nothing for him lol.

SundaeBest
07-18-2010, 09:15 PM
I'm reading some of these posts about bankruptcy and he should donate the money LOL... wow, this is not just a HOUSE, its something he HAS to do when hes this big of a celebrity and also, its and INVESTMENT... markets down now, even if it isint in that area, value can only RISE... he will sell it in 4 years and make a $5M profit on it and, well, what do you know, that tax and electricity money, he just got it all back :) you expect him to live in a normal neighborhood? yeah ok... i'd like to see you do that when your making $40M a year

Umm....if he sells for 5M more than what he paid, but sells the house in 4 years, he would have ended up paying 4.6M in taxes and utilities as the article states. Which means it would only have profited about $400,000 dollars. However, he also has to pay taxes on that $400,000 profit; netting him very minimal (if at all) financial gain. HARDLY seems like a wise investment of 49 and a half million dollars.

^ That pretty much sums up the difference between owners and athletes. Owners invest in financial assets, athletes invest towards tangibles. Also, the myth of the "real-estate market can only go up" has been largely disproved a great many times. It's not a sure thing, as you seem to imply.

Not to say that the crux of your argument is wrong, just pointing out that you probably shouldn't be giving financial analysis when you yourself are that terrible with numbers :p

He also, does NOT have to buy a house that big. Buying a house that big, is the same reason for the hour long special, the monkey dances on the court during games, and the overall MEMEMEMEME attitude this guy possesses.

I'm not saying he shouldn't have bought it. Nor am I suggesting (like that other guy) that he should have donated the money. All I'm saying is that your math is terrible, and that he didn't HAVE to buy a house that expensive.

As much as I despise the guy, I'm sure he has smart-money people around him that will keep him from ending up like walker....unless they bleed him dry for their own benefit.

SundaeBest
07-18-2010, 09:16 PM
Nothing to see here...move along

Aussy4GM
07-18-2010, 09:24 PM
http://www.miamicondoinvestments.com/2010/07/07/rumor-lebron-james-makes-offer-on-49-5m-gables-estates-home/


^^ some better pics of the crib.

SundaeBest
07-18-2010, 09:24 PM
I agree, thesprite. You just can't say never ESPECIALLY when you mention a great talent like LeBron... Even when it goes down to the MJ debate. You just can't say never. You can think it's highly unlikely or whatever but what if some kid comes out next year that makes every shot and wins 10 rings in a row... Unlikely? Yes, but you just can't come out and say, "Oh, it will never happen."

For the very same reason this argument holds weight, you also can't say "never" when people predict he will be bankrupt....by your logic, it is highly unlikely but plausible.... :p

SundaeBest
07-18-2010, 09:32 PM
This.

The fact of the matter is, 50 million dollars for him is 2 years worth of wages. I'm sure for us normal people, the house we'll buy will be worth way more than 2 years worth of wages. For the amount of money he makes, this isn't going to ever cripple him.

People saying he's going to turn out like Scottie. Hahaha. There isn't a single parallel here.


It's funny to me how quick people are to hate. Let the man do what he wants. He can easily, easily, easily afford that house. He's going to make well over a billion dollars in his lifetime, perhaps two..and buying a house, even in todays economy, is always a safer investment than blowing it on planes, cars, yachts, clothes, jewelry, vacations...or just about anything else you can waste millions of dollars on.

The difference is...most of us "normal" people will continue to make whatever we were making at the time of purchase (and will increase on a slight upward curve; with a little luck) for the rest of our working life.

Lebron's shelf-life of signing 100 million dollar contracts is very short. He probably has 1 more long term max contract left in him.

Sure the argument can be made, he'll have financial assets to continue making big money with investments, but YOU YOURSELF just pointed out the fickleness of investments. And Lebron has yet to prove that he is as adept at making sound investment decisions as he is at bowling though properly stationed defenders on his way to the rim.

Lastly, a lot of people seem to bank on his marketability. What you all forget, is that marketability is even MORE fickle then the stock market. Just look what 1 stupid decision has cost him (not the decision to play in Miami, the decision to hold an hour long special for 1 question).

SundaeBest
07-18-2010, 09:38 PM
dear man who has lived in a bubble since 2007,

housing prices do trend to increase over time but this is due to population growth and inflation. housing prices have deteriorated recently due to credit problems that do not appear to be soon alleviated. a house this expensive is very hard to sell because there are simply very few people who are capable of buying this house. a standard $200k house will probably be sold for more than that in 20 years because there are more people demanding $200k houses... but even then it does not factor in maintenance costs, property taxes, and any other associated fees. moreover, when taxes rise (which seems imminent) more people will have less real income to fork out $1 mill per year in property taxes alone. spending $50 mill on this house is a risk like anything else. it may well end up a good one for lebron... but it is not a license to print money in the future.

sincerely,
economics.

edit: if you are from boston as your avatar would seem to point to, you would be falling under the representation of barney frank. this explains your logic perfectly.

HEY! Barney Frank may be as full of hot air as the next senator...but he does have SOME good insights.....on a separate note, well articulated argument :)

Aussy4GM
07-18-2010, 09:39 PM
http://www.triadhomesearch.com/generator/files/KimSetliff.com/Michael%20J%202.jpg


....sorry lebron looks like MJ has you beat at everything.

netsgiantsyanks
07-18-2010, 09:40 PM
Umm....if he sells for 5M more than what he paid, but sells the house in 4 years, he would have ended up paying 4.6M in taxes and utilities as the article states. Which means it would only have profited about $400,000 dollars. However, he also has to pay taxes on that $400,000 profit; netting him very minimal (if at all) financial gain. HARDLY seems like a wise investment of 49 and a half million dollars.

^ That pretty much sums up the difference between owners and athletes. Owners invest in financial assets, athletes invest towards tangibles. Also, the myth of the "real-estate market can only go up" has been largely disproved a great many times. It's not a sure thing, as you seem to imply.

Not to say that the crux of your argument is wrong, just pointing out that you probably shouldn't be giving financial analysis when you yourself are that terrible with numbers :p

He also, does NOT have to buy a house that big. Buying a house that big, is the same reason for the hour long special, the monkey dances on the court during games, and the overall MEMEMEMEME attitude this guy possesses.

I'm not saying he shouldn't have bought it. Nor am I suggesting (like that other guy) that he should have donated the money. All I'm saying is that your math is terrible, and that he didn't HAVE to buy a house that expensive.

As much as I despise the guy, I'm sure he has smart-money people around him that will keep him from ending up like walker....unless they bleed him dry for their own benefit.

i think not. his whole posse is surronded with people he shouldnt be hanging around with. you better believe they gonna try to bleed him dry for that money. hell,i wouldnt be suprised if his own mom tries to get into some of his money.

glorydays22
07-18-2010, 09:40 PM
where are the photos to this house?

effen5
07-18-2010, 09:41 PM
http://www.triadhomesearch.com/generator/files/KimSetliff.com/Michael%20J%202.jpg


....sorry lebron looks like MJ has you beat at everything.

I actually live by MJ and trust me Lebrons house has MJs house BEAT....nothing beats that ****in view jesus christ.

effen5
07-18-2010, 09:42 PM
Umm....if he sells for 5M more than what he paid, but sells the house in 4 years, he would have ended up paying 4.6M in taxes and utilities as the article states. Which means it would only have profited about $400,000 dollars. However, he also has to pay taxes on that $400,000 profit; netting him very minimal (if at all) financial gain. HARDLY seems like a wise investment of 49 and a half million dollars.

^ That pretty much sums up the difference between owners and athletes. Owners invest in financial assets, athletes invest towards tangibles. Also, the myth of the "real-estate market can only go up" has been largely disproved a great many times. It's not a sure thing, as you seem to imply.

Not to say that the crux of your argument is wrong, just pointing out that you probably shouldn't be giving financial analysis when you yourself are that terrible with numbers :p

He also, does NOT have to buy a house that big. Buying a house that big, is the same reason for the hour long special, the monkey dances on the court during games, and the overall MEMEMEMEME attitude this guy possesses.

I'm not saying he shouldn't have bought it. Nor am I suggesting (like that other guy) that he should have donated the money. All I'm saying is that your math is terrible, and that he didn't HAVE to buy a house that expensive.

As much as I despise the guy, I'm sure he has smart-money people around him that will keep him from ending up like walker....unless they bleed him dry for their own benefit.

i think not. his whole posse is surronded with people he shouldnt be hanging around with. you better believe they gonna try to bleed him dry for that money. hell,i wouldnt be suprised if his own mom tries to get into some of his money.

It really is like watching an episode of the entourage, im just waiting for the repo guy to tow away one of his entourages car like turtles maserati.

Bishnoff
07-18-2010, 09:52 PM
Wow. That's not a house, it's a resort.

Dallas Tx4Life
07-18-2010, 09:57 PM
http://www.triadhomesearch.com/generator/files/KimSetliff.com/Michael%20J%202.jpg


....sorry lebron looks like MJ has you beat at everything.

LOL you must have a sad, sad existence, being stuck in that past and all.

Chubbs05
07-18-2010, 10:30 PM
A lot of hate going on in this thread... The house is listed at 49 million, who pays the asking price? The guy before bought it for 2 million... if Bron pays 30 million the guy has made a huge profit... Couple people have questioned the investment aspect of it... this isn't some house in the cow pastures of Mid-America.. it is beachfront property (as we all know, there is a limited amount of "Beachfront" property available so automatically it makes this not only a more sound investment but also drives the initial price of the property up)... Additionally, there is a sucker born every day, somebody will come along and buy it from him when that time comes...

Dallas Tx4Life
07-18-2010, 10:33 PM
A lot of hate going on in this thread... The house is listed at 49 million, who pays the asking price? The guy before bought it for 2 million... if Bron pays 30 million the guy has made a huge profit... Couple people have questioned the investment aspect of it... this isn't some house in the cow pastures of Mid-America.. it is beachfront property (as we all know, there is a limited amount of "Beachfront" property available so automatically it makes this not only a more sound investment but also drives the initial price of the property up)... Additionally, there is a sucker born every day, somebody will come along and buy it from him when that time comes...

True that.. The next guy is gonna be like "LeBron and Pat Riley have lived here?!?! Sign me up!!!"

Kobe5RingKing
07-18-2010, 11:19 PM
http://www.ice-dotcom.com/2010/07/lebron-james-50-million-miami-mansion/

His living better than tony montana

mark1125
07-18-2010, 11:22 PM
Stop it already. The Lebron crap is soooo tired. At least do it in the Heat forum where someone might care.

Or at least post it in the OTHER LeBron's new place thread.

loufor2
07-18-2010, 11:27 PM
that is a nice house...................

avrpatsfan
07-18-2010, 11:29 PM
There is already a thread.......
Thanks for posting the photos but you should have posted it in the other thread.

Atownballa5
07-18-2010, 11:29 PM
maybe a hurricane will come and knock it down...

Sadds The Gr8
07-18-2010, 11:35 PM
nice *** motha ****in house. I'd never go out if i lived there...

tbron
07-18-2010, 11:35 PM
KAZR127, on July 18th, 2010 at 2:59 pm said:
$50 mil for effin house! :l Does it come with a fountain of youth, Halle Berry and an NBA champions ship ring?

LMAO:laugh2:

prash
07-18-2010, 11:36 PM
thnx for making separate thread

Chief Smoke
07-18-2010, 11:38 PM
That's a work of art . Rick Ross house is nice too but not like this!

HabsFan87
07-18-2010, 11:40 PM
dont blame him for leaving the Cavs... Wonder if this was showcased to him prior to free agency and lower fee then the price is shown...

Chief Smoke
07-18-2010, 11:40 PM
Damn! There even hating on the house ...lmao

blazerman
07-18-2010, 11:40 PM
Nota bad shack, I wonder if Riley gave him a huge discount on the low to offset signing for a lessor amount, humm:cool:

As for Heat fans, Im happy that you guys had an amazing offseason, good times coming for Heat fans.

king4day
07-18-2010, 11:42 PM
That's a sweet house. The view outside is sick. I bet he did house hunting with Wade during their "summit" and he realized how much better the living conditions would be there.
While he's in his prime, u really can't blame him for going there.

idrinkpepsi
07-18-2010, 11:44 PM
Damn nice property, but I think this investment could hit him in the behind.

ntat
07-18-2010, 11:58 PM
LOL at people bashing Lebron for spending 2+ years earnings on a home. Most people buy houses at prices equal to 5-10 years of earnings.

Will he be able to sell it when he wants to, nope. But at least it's a tangible asset.

Most of these guys that go broke spend it on investments that fail (see Scottie Pippen), gamble it away, or blow it on drugs/strippers/junk.



With all that said, I'm not sure it is the wisest move to go out and drop $50m on a house when his image is in need of repair at the moment. But hey, he's got a contract, it doesn't matter if people stop buying his stuff, he's paid.

And those are my kinda guys....

jaded01
07-19-2010, 02:12 AM
HEY! Barney Frank may be as full of hot air as the next senator...but he does have SOME good insights.....on a separate note, well articulated argument :)

except he's a representative... and he's more or less wrong on everything as well as manufacturing the housing crisis by himself. but this is a basketball forum so ill try to keep it to basketball from now on.

Kobe5RingKing
07-19-2010, 02:54 AM
He will sell this house, no way he can afford the 1mil tax a year....it wont matter now but it will catch up to him one day

Kobe5RingKing
07-19-2010, 02:56 AM
than he will sell it

OA SLAY
07-19-2010, 03:24 AM
I wonder how many hits a "Lebron will eat a sandwich today" thread would get? Im guessing over105

b0nk
07-19-2010, 03:40 AM
which room will Delonte and Gloria be staying at

JB0B0
07-19-2010, 03:43 AM
LeBron will be bankrupt within 5 years post-retirement (whenever that is). He just spent half of his contract on a house....moron....he should have went to college; he would know how stupid this is.

Dallas Tx4Life
07-19-2010, 03:45 AM
LeBron will be bankrupt within 5 years post-retirement (whenever that is). He just spent half of his contract on a house....moron....he should have went to college; he would know how stupid this is.

You are wrong. The resale on that house is going to be nuts! And if you look into it, that's what the sale price is on it, look earlier in the thread. The guy that he's buying it from bought it for far less and I'm sure LeBron doesn't pay the asking price.


And why even come to this thread if you're just going to drop some hate real quick? Not a chance he will be bankrupt, he signed a 100 million dollar Nike contract when he was 18. He will eventually be a billionaire so your bankrupt argument is false.

Dallas Tx4Life
07-19-2010, 03:46 AM
And does anyone have a link to Wade's house? I'm sure that is quite the house as well.

jackdawson
07-19-2010, 03:47 AM
imagine if he donated 48 million and bought a 1 million dollar house:rolleyes:

Way to start hating :facepalm:

Dallas Tx4Life
07-19-2010, 03:49 AM
Way to start hating :facepalm:

Agreed... Why don't you guys just donate you're hard earned money? Go say this about Joe Johnson or someone who actually signed a max deal.

Hellcrooner
07-19-2010, 04:05 AM
Umm....if he sells for 5M more than what he paid, but sells the house in 4 years, he would have ended up paying 4.6M in taxes and utilities as the article states. Which means it would only have profited about $400,000 dollars. However, he also has to pay taxes on that $400,000 profit; netting him very minimal (if at all) financial gain. HARDLY seems like a wise investment of 49 and a half million dollars.

^ That pretty much sums up the difference between owners and athletes. Owners invest in financial assets, athletes invest towards tangibles. Also, the myth of the "real-estate market can only go up" has been largely disproved a great many times. It's not a sure thing, as you seem to imply.

Not to say that the crux of your argument is wrong, just pointing out that you probably shouldn't be giving financial analysis when you yourself are that terrible with numbers :p

He also, does NOT have to buy a house that big. Buying a house that big, is the same reason for the hour long special, the monkey dances on the court during games, and the overall MEMEMEMEME attitude this guy possesses.

I'm not saying he shouldn't have bought it. Nor am I suggesting (like that other guy) that he should have donated the money. All I'm saying is that your math is terrible, and that he didn't HAVE to buy a house that expensive.

As much as I despise the guy, I'm sure he has smart-money people around him that will keep him from ending up like walker....unless they bleed him dry for their own benefit.

:clap: good post sunde.

You jsut forgot one more "little Detail2".

if he buys now for 50 and sells in ten year for 55 not only he has the problem of the taxes payed, the conservation wages etc etc.

theres another funny fact.

50 dollars Now are MORE money than 55 in ten years.

Ten years ago i used to pay areound 3,5 euros for a meny in Burger King , now the same menu costs 6 euros .

Inflation is called.

hyb152
07-19-2010, 08:45 AM
Well, we know cleveland doesn't have any of that. If you wanna talk about the offseason and social life aspect, can't blame Lebron for going to MIA instead of the factory town known as Cleveland

saucy1
07-19-2010, 09:03 AM
what an idiot

whynotus
07-19-2010, 09:17 AM
hope he blows all his money, moron.

ntat
07-19-2010, 10:02 AM
:clap: good post sunde.

You jsut forgot one more "little Detail2".

if he buys now for 50 and sells in ten year for 55 not only he has the problem of the taxes payed, the conservation wages etc etc.

theres another funny fact.

50 dollars Now are MORE money than 55 in ten years.

Ten years ago i used to pay areound 3,5 euros for a meny in Burger King , now the same menu costs 6 euros .

Inflation is called.WHOA WHOA WHOA STOP THE ARGUMENTS! What the **** is a meny?

uws
07-19-2010, 10:16 AM
shaqs MIA pad is still nicer. bron should have bought trumps place he owns down there its on the market for 120 mil... oh wait, he cant afford it hah shoulda gone to ny then maybe you could have

uws
07-19-2010, 10:19 AM
plus the miami market is still riding a bubble, that area has so many homes being built that got halted because of the market fallout, and tons of apt. space as well. the predictions are the market it going to fall, not raise, so he will def lose money if he sells the place

truplayer199
07-19-2010, 10:42 AM
[QUOTE=ManRamForPrez24;14182439]This.

"He can easily, easily, easily afford that house. He's going to make well over a billion dollars in his lifetime, perhaps two"

You have no idea what you're talking about. Hypothetically speaking, lets say he makes over a billion dollars in his lifetime, subtract his liabilities and whats left? He can probably easily afford this house now, but 10 years down the line that's a completely different story.

lotti51
07-19-2010, 10:45 AM
I like how this house is worth less than half his contract.

HabsFan87
07-19-2010, 11:00 AM
Nota bad shack, I wonder if Riley gave him a huge discount on the low to offset signing for a lessor amount, humm:cool:

As for Heat fans, Im happy that you guys had an amazing offseason, good times coming for Heat fans.

Maybe read before posting, stealing what I said.

truplayer199
07-19-2010, 11:03 AM
It's not like he's buying a 20 million dollar car. It's a house. A house is the best investment you can make because it's almost guaranteed the value will go up. If he ever loses all of his money he can sell the house for at least 49.5 million dollars and downgrade to a 10 million dollars house.

You're another person who knows very little about the housing market. I agree that buying a house is one of the best investments one can make, depending on how the house is paid for. How do you know the value of the house will go up? If the housing market can be so easily predicted just about every investor would be buying up these securities.

Saying that he can sell the house for at least 49.5 mil is ridiculous. A house this expensive is very hard to sell, and has a very small market. Being that there are relatively a small number of potential buyers - the buyers have leverage over the seller in this case. Just about every buyer will be looking for a discount.

Based on what's mentioned above, this house is likely to be sold at a net loss 10+ years from now.

DCSportsIsPain
07-19-2010, 06:30 PM
MIAMI (CBS4) ―


Residents in Coral Gables shouldn't prepare the LeBron James welcome home gala just yet. Over the weekend, Life & Style Magazine reported that James was buying a $49.5 million mansion in the Gables. The only problem is the story wasn't true.

In the report, James was said to be purchasing the $49.5 million, 20,000 square foot mansion home at Casuarina Concourse. The report said the home belonged to the owner of Potamkin Auto Gallery and said Pat Riley, called it home at one time.

However, CBS4 contacted Potamkin who said the story is absolutely not true. Potamkin said LeBron had never been to the home, never put an offer on the home, and that the home was taken off the market 3 months ago.

Potamkin also said Pat Riley had never lived at the home in question. He said Riley's hose is in the neighborhood, but Riley never owned the home.

Potamkin's attorney, Kendall Coffey, is getting involved with the situation due to the hubbub that started to explode after the Life & Style story.

Any chance someone might close this garbage thread now?

smith&wesson
07-19-2010, 06:41 PM
there goes half his contract

nstojic
07-19-2010, 07:02 PM
Found LBJ's new house


http://www.alexshay.com/listings/propertylistings.asp?categoryID_list=31_32

John408
07-19-2010, 07:07 PM
This is why celebrity athletes end up bankrupt... Why does any 1 person need that much house.

thats what im sayin. he thinks he's michael jordan or something. he's gonna end up bankrupt and someone like derrick coleman.

dumb move imo.

with his money, i'd buy something in the 10-15 million range at the most.

Allstar21
07-19-2010, 07:36 PM
thats what im sayin. he thinks he's michael jordan or something. he's gonna end up bankrupt and someone like derrick coleman.

dumb move imo.

with his money, i'd buy something in the 10-15 million range at the most.
ummmm
People on the board need to realize that he isn't buying a 30 year mortgage. Someone of Lebron's income and net worth would purchase a residence like this outright. Meaning he has a 49.5 million in assets that he would own. The bank wouldn't own it like the crappy house you prolly have a mortgage for that charges tons in interest. You don't go broke (outside of not being able to afford the taxes) on a purchase like this if you have the funds to do it outright. A house this expensive is not much different than a stock market investment. Derrick coleman bought houses, cars, etc using credit, and therefore when he stopped getting a paycheck he had no way to pay his payments and became broke. The real estate in this area is beautiful and is sure to keep its value (as most communities like this one do).