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re: Saban $20 mill in hole due to bad real estate investments w LSU and Bama alums
Posted on 12/11/13 at 9:53 am to otowntiger
Posted on 12/11/13 at 9:53 am to otowntiger
quote:
quote:
20 million in debt is a tough spot even if you make 7 million a year.
not really. I make just over 100k. I could easily be approved for and afford a $300,000 mortgage. The ratio is the same, or even a little less. Saban: 7 mil earnings - 20 mil debt = 2.85:1 ratio. 100k/300k = 3:1 ratio.
I didn't see the point was that it was tough to qualify for such a line of credit. The point is, it's a tough hit if you get called on to cover it. As I'm sure it would be for you to be called on if called to pay off your $300k mortgage today.
This post was edited on 12/11/13 at 9:55 am
1
Posted on 12/11/13 at 2:30 pm to Y.A. Tittle
quote:true, if he has to pay it all at once and he doesn't have that much saved up. Its all relative I suppose. 20 mil to him is like 300k to me. I certainly don't have that kind of money.
didn't see the point was that it was tough to qualify for such a line of credit. The point is, it's a tough hit if you get called on to cover it. As I'm sure it would be for you to be called on if called to pay off your $300k mortgage today.
This post was edited on 12/11/13 at 2:31 pm
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