Link: Julio's little shack in Georgia
- Thread starter CrimsonSEC
- Start date
Julio's earned his pay for sure, I'm not sure how to I would deal with that much space, I feel like I'd constantly think I'm at a hotel.
That's very nice indeed, but, if I was Julio's agent I'd recommend this--Buy an incredibly nice $500,000.00 house in a very nice neighborhood and then put $2,000,000 a year into a mutual fund and/or retirement fund, drive a Yukon, be sensible and retire at 35 with no financial worries for the rest of your life, your kid's lives, your wife's life, your grandkids lives, and so on and so on.
I love Julio. I admire everything about him.
Still I have to ask--Why does a single guy, who's 23-24 years old, need a house like this?
95% of NFL football players file bankruptcy within five years of retirement.
It's investments like this one that starts the process.
sip
I love Julio. I admire everything about him.
Still I have to ask--Why does a single guy, who's 23-24 years old, need a house like this?
95% of NFL football players file bankruptcy within five years of retirement.
It's investments like this one that starts the process.
sip
Come on Sip, stop making so much sense. What would be the fun in being smart and practical. :wink:
You're dead on though. I work for an investment management company, and the stories I see on some of our investors are mind boggling. Many started by just investing a few thousand dollars in a mutual fund, and seen how it's just exploded for them after a couple decades of patience. I've thought to myself more than a few times about how amazing it would be to just drop a crap ton of money in and watch it grow, much less to do that every year. I'm pretty young, so I certainly get wanting wanting to blow it and enjoy it. However, so many of these athletes waste such a golden opportunity to set themselves and their families for their entire futures by being immature.
Now back on topic, that house is absolutely epic! I'd love to be able to just say I know someone who lives in a house like that, much less actually live on one like that.
A house is a good investment if you plan on owning it one day. A lot of these guys who are broke at the end of their careers owe a bunch of money on their homes, it's astounding how much. There are much worse things an athlete can spend money on, like get rich quick schemes and expensive automobiles. At least real estate won't decrease in value.
The house may be a bit of a splurge, but I understand it doesn't characterize his overall approach. I just hope he doesn't have 25 family and 25 hangers-on living with him...
My comment is based on experience. You can have have all the money in the world, and it can go away. A huge house is nice, as a temporary status symbol, but a secure future, is priceless.
I'd like to see our guys exemplify a little more common sense.
sip
B
BroadwayJoe777
Guest
Looks like he'll have to renegotiate his contract in order to furnish the mansion (and fill the pool). 
Who knows, maybe he paid cash for the house and is putting away a large part of his salary. I would bet he has a financial advisor.
I'll never forget the accounting and finance courses I took at UA especially the parts about how money grows with compound interest in a geometric progression. I told my son and have told others you have to think of every discretionary dollar you spend today as if it were $1,000 30-40 years from now, (actually it's more like 25-26 to 1 at today's interest rates but it could get to that level with higher risk investments).
My then girl friend had me look at homes in the Suwannee, GA area a few years ago, which is closer to Atlanta than Buford, that were a third of the size of Julio's house and maybe smaller that were in the $1 million range. If you know anything about the Atlanta metro area Buford's a good 30-40 miles from the 285 Perimeter and close to 70-75 miles out of downtown Atlanta.
According to the records he paid about $1.25 million CASH for that house, which was valued around 2007 at about $2.5 million. A couple of years prior to 2007 that house might be priced in the $4 million range. If the Atlanta real estate market ever recovers to those levels he could make a tidy profit so possibly a decent investment.
Now that would be perfect, and I certainly hope that's the case. In that situation it's a brilliant investment.
i understand what you're saying and agree with you. but in atlanta, in a nice neighborhood, there is no such thing as a $500k house, much less an incredibly nice $500k house.
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