Royale with Cheese Posted May 31 Share Posted May 31 50 minutes ago, Mr. WEO said: he's a renter.. Then he needs financial advice if he's renting. 1 Quote Link to comment Share on other sites More sharing options...
Mr. WEO Posted May 31 Share Posted May 31 1 hour ago, Royale with Cheese said: Then he needs financial advice if he's renting. why? Quote Link to comment Share on other sites More sharing options...
billsfan89 Posted May 31 Share Posted May 31 1 hour ago, Royale with Cheese said: Then he needs financial advice if he's renting. If I were a rookie NFL player I would rent at least for a few years. These guys are traded and relocated so many times during their careers that tying yourself down to a home is not a great idea. You may also not enjoy living where you play so why buy a home there that's gonna sit empty in the off-season and then buy a second home in the place where you live in the off-season? Why buy a home pay all those closing costs only to sell it a few years later and pay the closing costs again if you get traded in 2-3 years? Most circumstances you should want to own but I think being in a volatile industry like pro-football is one where the flexibility and low commitment of renting is actually viable. No idea why I broke down this so much but the comment got me thinking about what I would do for a living situation as an NFL rookie. Quote Link to comment Share on other sites More sharing options...
Putin Posted May 31 Share Posted May 31 (edited) 14 hours ago, Buffalo716 said: Dude is literally throwing singles in the video lol What a clown Yeah but that watch made in china is the real deal Edited May 31 by Putin Quote Link to comment Share on other sites More sharing options...
Royale with Cheese Posted June 1 Share Posted June 1 (edited) 8 hours ago, Mr. WEO said: why? Because he can pay cash for a house and not have a mortgage. Since he’s a 1st round pick, he will be there at least two years. He will earn another million and his house will appreciate 16%-20% in two years with this housing market. If he gets cut because he is a bust, sell the house and make a profit. 7 hours ago, billsfan89 said: If I were a rookie NFL player I would rent at least for a few years. These guys are traded and relocated so many times during their careers that tying yourself down to a home is not a great idea. You may also not enjoy living where you play so why buy a home there that's gonna sit empty in the off-season and then buy a second home in the place where you live in the off-season? Why buy a home pay all those closing costs only to sell it a few years later and pay the closing costs again if you get traded in 2-3 years? Most circumstances you should want to own but I think being in a volatile industry like pro-football is one where the flexibility and low commitment of renting is actually viable. No idea why I broke down this so much but the comment got me thinking about what I would do for a living situation as an NFL rookie. Because he will make a profit on the house when he sells it in 2-3 years. Edited June 1 by Royale with Cheese 2 2 1 1 Quote Link to comment Share on other sites More sharing options...
billsfan89 Posted June 1 Share Posted June 1 3 minutes ago, Royale with Cheese said: Because he will make a profit on the house when he sells it in 2-3 years. Not always the case given that he's gonna have to pay the property tax, home owners insurance, commission, and two sets of closing costs in just 2 or 3 years. Also there's no guarantee a house will appreciate in value although that's a strong possibility dips in the market happen. 1 Quote Link to comment Share on other sites More sharing options...
H2o Posted June 1 Share Posted June 1 On 5/30/2024 at 5:52 PM, ndirish1978 said: This is the guy everyone wanted? Some teammate this guy is. That could have gone to the Rashee Rice "Go Fund Me" for his lawyer fees. 1 Quote Link to comment Share on other sites More sharing options...
SCBills Posted June 1 Share Posted June 1 Between being tiny and acting like this, I’m starting to see why we passed on him and/or didn’t really covet him. 2 2 Quote Link to comment Share on other sites More sharing options...
DrW Posted June 1 Share Posted June 1 4 minutes ago, billsfan89 said: Not always the case given that he's gonna have to pay the property tax, home owners insurance, commission, and two sets of closing costs in just 2 or 3 years. Also there's no guarantee a house will appreciate in value although that's a strong possibility dips in the market happen. The fact alone that the house was previously owned by a NFL player will add to its value. 1 Quote Link to comment Share on other sites More sharing options...
NoHuddleKelly12 Posted June 1 Share Posted June 1 I’m beginning to think Beane knows a bit more than we think he does. 🤔 2 1 1 4 Quote Link to comment Share on other sites More sharing options...
Royale with Cheese Posted June 1 Share Posted June 1 12 minutes ago, billsfan89 said: Not always the case given that he's gonna have to pay the property tax, home owners insurance, commission, and two sets of closing costs in just 2 or 3 years. Also there's no guarantee a house will appreciate in value although that's a strong possibility dips in the market happen. I think I just have much more faith in real estate. I work in HR and we relocate a lot of our new Engineers so I stay up with real estate. I had a girl buy a house, 9 months later that mill closed, she transferred and is now renting that house making $1,000 a month over her mortgage. Most of our mills are in rural areas and these people are selling their houses quickly and for a good profit. My dad has a home in rural GA he just sold and got $35,000 over listing because it went to a bidding war. Im sure KC is a better market. Quote Link to comment Share on other sites More sharing options...
billsfan89 Posted June 1 Share Posted June 1 10 minutes ago, Royale with Cheese said: I think I just have much more faith in real estate. I work in HR and we relocate a lot of our new Engineers so I stay up with real estate. I had a girl buy a house, 9 months later that mill closed, she transferred and is now renting that house making $1,000 a month over her mortgage. Most of our mills are in rural areas and these people are selling their houses quickly and for a good profit. My dad has a home in rural GA he just sold and got $35,000 over listing because it went to a bidding war. Im sure KC is a better market. Fair enough but I think there is value in the flexibility that renting provides and you can just invest the rest in an Index Fund that will provide you similar returns with a lot less stress. If you are Worthy in KC you can rent a place super nice for like 3k a month (I can't imagine you couldn't get a nice 2-3 bedroom in that range) and then invest the rest into an Index fund and you probably get a similar return with dividends reinvested. We are splitting hairs here but I think there's a case for renting in some circumstances and I think you can make a valid case especially during his rookie year where he may not want the hassles that come with owning a home one less distraction. Quote Link to comment Share on other sites More sharing options...
The 9 Isles Posted June 1 Share Posted June 1 So is he still hurt? 2 Quote Link to comment Share on other sites More sharing options...
Buffalo_Stampede Posted June 1 Share Posted June 1 2 hours ago, NoHuddleKelly12 said: I’m beginning to think Beane knows a bit more than we think he does. 🤔 More than Andy Reid? Quote Link to comment Share on other sites More sharing options...
soflabillsfan1 Posted June 1 Share Posted June 1 9 hours ago, billsfan89 said: Fair enough but I think there is value in the flexibility that renting provides and you can just invest the rest in an Index Fund that will provide you similar returns with a lot less stress. If you are Worthy in KC you can rent a place super nice for like 3k a month (I can't imagine you couldn't get a nice 2-3 bedroom in that range) and then invest the rest into an Index fund and you probably get a similar return with dividends reinvested. We are splitting hairs here but I think there's a case for renting in some circumstances and I think you can make a valid case especially during his rookie year where he may not want the hassles that come with owning a home one less distraction. I agree. I think its better for these NFL guys to rent a place early on. Now if they get a nice extension, then you can go buy a place. Quote Link to comment Share on other sites More sharing options...
SoCal Deek Posted June 1 Share Posted June 1 If at all possible, buy your house! It’s literally the distinction between a cost and an investment. Hard to believe this is even a discussion. 2 Quote Link to comment Share on other sites More sharing options...
Mr. WEO Posted June 1 Share Posted June 1 13 hours ago, Royale with Cheese said: Because he can pay cash for a house and not have a mortgage. Since he’s a 1st round pick, he will be there at least two years. He will earn another million and his house will appreciate 16%-20% in two years with this housing market. If he gets cut because he is a bust, sell the house and make a profit. Because he will make a profit on the house when he sells it in 2-3 years. 16-20%?? lol. he can't pick you as his financial adviser... 2 Quote Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted June 1 Share Posted June 1 26 minutes ago, Mr. WEO said: 16-20%?? lol. he can't pick you as his financial adviser... this bubble's soon to pop Quote Link to comment Share on other sites More sharing options...
Mr. WEO Posted June 1 Share Posted June 1 1 minute ago, Pine Barrens Mafia said: this bubble's soon to pop KC doesn't have that kind of bubble 1 Quote Link to comment Share on other sites More sharing options...
pennstate10 Posted June 1 Share Posted June 1 1 hour ago, Mr. WEO said: KC doesn't have that kind of bubble Gotta say that you yougns don’t have a realistic view of real estate. We bought a nice house in Getzville for $196K in 1992 (original owner was Ted Cotrell, Bills DC). Sold the house for $175K in 1999 when I relocated. My signing bonus more than covered the loss, but the lesson is that real estate doesn’t go straight up. 1 Quote Link to comment Share on other sites More sharing options...
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