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Started By
Message
re: Tennessee reached out to Jamarcus Russell
Posted on 10/6/13 at 10:34 am to LSUandAU
Posted on 10/6/13 at 10:34 am to LSUandAU
Thanks for linking this thread....
I also wonder if yo know he sold that house for 1.9million (was worth 2.4 so he lost money) and it was in foreclosure because he quit paying the note on it once he moved out of La. It wasn't because he was broke or even close to being broke
I also wonder if yo know he sold that house for 1.9million (was worth 2.4 so he lost money) and it was in foreclosure because he quit paying the note on it once he moved out of La. It wasn't because he was broke or even close to being broke
1
Posted on 10/6/13 at 10:45 am to tduecen
Sells the house losing $500K (brilliant), doesn't pay $200K in taxes he owes (brilliant). He is heading toward broke!
This post was edited on 10/8/13 at 11:56 am
Posted on 10/6/13 at 10:47 am to LSUandAU
He doesn't handle his own money, he hires someone for that and takes the advice they give...
This post was edited on 10/6/13 at 10:48 am
Posted on 10/6/13 at 10:59 am to tduecen
You edited your post, but I have said he would soon be broke, not that he is broke. If he has the money and someone else at all competent is handling it, they never would stop paying a mortgage and allow hundreds of thousands to build up in tax debt, foreclosure proceedings to begin, etc...get off the Kool Aid!
I don't hate...he has the physical ability, but not the mental ability or work ethic...he definitely is not a self-motivated, self-starter. He got the contract (not all guaranteed or paid) and proceeded to become the all-time poster boy for NFL busts. Then he got arrested for possession of the purple drank, etc. Maybe at age 28, someone will give him the league minimum, but without being in a 24/7 environment controlled by others, he will probably fail again! Would be great comeback story otherwise!
I don't hate...he has the physical ability, but not the mental ability or work ethic...he definitely is not a self-motivated, self-starter. He got the contract (not all guaranteed or paid) and proceeded to become the all-time poster boy for NFL busts. Then he got arrested for possession of the purple drank, etc. Maybe at age 28, someone will give him the league minimum, but without being in a 24/7 environment controlled by others, he will probably fail again! Would be great comeback story otherwise!
This post was edited on 10/6/13 at 11:06 am
Posted on 10/6/13 at 11:00 am to Chad504boy
I'd like to see him get another chance in the league.
Posted on 10/6/13 at 11:09 am to LSUandAU
quote:
$2M Mortgage?
you do realize that this house was in california and its real estate crashed?
he walked away b/c it was a bad deal at the time, not b/c he couldn't afford it
Posted on 10/6/13 at 11:09 am to ImReallyAMermaid
Was running the LSU lakes a week ago and he was walking with a girl when we ran past each other..looked good, exchanged aighht's as we passed each other..csb
Posted on 10/6/13 at 11:10 am to LSUandAU
quote:
is quite rich but needs a big loan on the house (smart),
he'd have lost a lot more had he paid for it in cash. a mortgage is insurance of sort for this scenario
it worked out in JR's favor
Posted on 10/6/13 at 11:11 am to LSUandAU
quote:
If he has the money and someone else at all competent is handling it, they never would stop paying a mortgage and allow hundreds of thousands to build up in tax debt, foreclosure proceedings to begin, etc...get off the Kool Aid!
you don't deal in complex financial transactions, do you?
if your home lost half its value but the mortgage remained set at the previous level, and credit rating didn't matter to you b/c you were rich, wouldn't you walk away?
Posted on 10/6/13 at 11:22 am to WmWallace
quote:
when we ran past each other..looked good, exchanged aighht's as we passed each other
You are pathetic.
Posted on 10/6/13 at 11:31 am to SlowFlowPro
quote:
you don't deal in complex financial transactions, do you?
if your home lost half its value but the mortgage remained set at the previous level, and credit rating didn't matter to you b/c you were rich, wouldn't you walk away?
I do actually and it is idiotic for you to suggest walking away from a mortgage if you are rich. Bottom line...walking away didn't work and I have no idea what he paid for the house, but it appears he lost money. Obviously, there are personal economic decisions to make about how much to put down, comparing interest rate to investment alternatives, etc...but a mortgage is not an insurance policy...folks have to still payoff the mortgage if they sell the house, often after getting into trouble and having paid thousands through monthly payments toward interest and little toward principal...if they sell at a loss, they lose their arse.
A home is not a complex transaction! If he had good advice, he would have properly paid for it, financed it or used an appropriate combination of the two. Also, good advice never leads one with money to simply stop making payments on what was primary home (although it may have been on market the whole time, media reports may be inaccurate, etc) or allow someone to become delinquent in paying taxes. I'll shut-up, but we both no how interest rates factor in to financing/investing decisions, etc...I do and presume you do!
Posted on 10/6/13 at 12:09 pm to LSUandAU
quote:
LSUandAU
Chief, you have no fricking clue of which you speak. It is apparent you have it in for JR.
It is also apparent that your knowledge of the recent Cali RE market is next to nill.
Posted on 10/6/13 at 12:29 pm to Sid in Lakeshore
quote:
It is also apparent that your knowledge of the recent Cali RE market is next to nill.
Actually, in 2010, we picked-up 4 properties out there, flipping them, after some work, and realizing net bottom line profit of about $600K.
As I said, it would be a great comeback story, but I don't see it...read my posts dipshit!
Please point out something specific I said which backs-up your post, dipshit!
This post was edited on 10/6/13 at 12:34 pm
Posted on 10/6/13 at 12:36 pm to LSUandAU
Yeah I'm sure you did 
Posted on 10/6/13 at 12:39 pm to SlowFlowPro
quote:
he'd have lost a lot more had he paid for it in cash. a mortgage is insurance of sort for this scenario
Not only that but mortgage interest is tax deductible and rates are so low that he could earn more with this more elsewhere. NOT having a mortgage would have been the dumb financial move.
This post was edited on 10/6/13 at 12:41 pm
Posted on 10/6/13 at 12:39 pm to T
b/c I acknowledged his aiight with an aiight..and thought he looked fit? Lighten up Francis
Posted on 10/6/13 at 12:56 pm to WmWallace
You're even more pathetic now. Congratulations.
Posted on 10/6/13 at 1:40 pm to LSUandAU
quote:
What has indicated he has the ability, work ethic, etc to play at an NFL level again? Don't hate him at all, but he got paid, then stopped working, got fat, etc!
Yeah then he lost his weight and got back in shape and started working out his game again.
It's pretty obvious you're rooting against him.....Did he bang you're college girlfriend? Be honest
Posted on 10/6/13 at 1:42 pm to LSUandAU
quote:
and it is idiotic for you to suggest walking away from a mortgage if you are rich.
wut?
quote:
Bottom line...walking away didn't work and I have no idea what he paid for the house, but it appears he lost money.
if they foreclosed his home, the bank lost money and JR only lost what he had paid in, which was certainly less (when adjusted for cost-rent) than what the bank lost. JR Staaaaaacked, bank fuuuuucked
quote:
but a mortgage is not an insurance policy.
sure it is
we saw just that during the 2008 real estate meltdown
Posted on 10/6/13 at 1:45 pm to Ignignot
quote:
It's pretty obvious you're rooting against him.
It's always the same types rooting against JaMarcus, endlessly defending Welter, starting threads with racist overtones on the OT, etc.
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