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Old 01-19-2014, 09:38 PM
 
730 posts, read 827,729 times
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I read it also has the largest private pool in the us
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Old 01-20-2014, 07:45 AM
 
1,637 posts, read 2,629,537 times
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Quote:
Originally Posted by MiamiRob View Post
Well I guess he "ain't ballin" & "reppin" the 305 'no more'! He'll probably be foreclosed on in a few years. At least he should have bough a house in Miami by the water and he wouldn't lose his shirt in the process.
It's not that far from TomorrowWorld
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Old 01-20-2014, 11:37 AM
 
13 posts, read 19,170 times
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Didn't Holyfield pay 22mil for this house?
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Old 01-21-2014, 12:22 PM
 
Location: Ono Island, Orange Beach, AL
10,743 posts, read 13,377,694 times
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Looks to me like it would make a fabulous high end and elite resort for the rich and famous.
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Old 01-21-2014, 03:25 PM
 
17,285 posts, read 22,006,628 times
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Quote:
Originally Posted by gerrythesnake View Post
Evander Holyfield mansion was sold to rapper Rick Ross this week.

January 15, 2014: MediaTakeOut.com CONFIRMED that last week, rapper Rick Ross completed the purchase of the LARGEST HOME in the state of Georgia,

The compound includes a 54,000 square-foot mansion with 109 rooms and it sits on 235 acres, has a bowling alley and theater, and a 350,000 gallon pool - the largest private pools in the US. The estate costs more than $1 million annually to maintain.

We're told that Ross paid somewhere around $8M for the home, which is located in ATLANTA. Sounds like a pretty good deal to us.

Last list price was 6.8....not sure he paid over list
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Old 01-21-2014, 03:26 PM
 
17,285 posts, read 22,006,628 times
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Originally Posted by Newsboy View Post
Who is Rick Ross?
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Old 01-21-2014, 03:29 PM
 
17,285 posts, read 22,006,628 times
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Quote:
Originally Posted by MiamiRob View Post
Well I guess he "ain't ballin" & "reppin" the 305 'no more'! He'll probably be foreclosed on in a few years. At least he should have bough a house in Miami by the water and he wouldn't lose his shirt in the process.

He was living in Ft Lauderdale......someone shot at him in his Rolls Royce on Las Olas so it must be time to move!
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Old 01-21-2014, 03:38 PM
 
17,285 posts, read 22,006,628 times
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Quote:
Originally Posted by ElleKaye View Post
I thought I'd finally take a look at exactly what house we're talking about, and now I'm really willing to say $8 million was a bargain.



It's impressive; I'll give it that. Boxing was pretty good to him.


Probably the wrong way to look at this house:

1. If a guy that earned 250mm couldn't afford it then how many people can really afford it?
2. Holyfield mentioned maintenance was 1mm a year, that is 83K a month, 21K a week, $3000 a day
3. Bank was asking 8.5+ and after a year was down to 6.8+ so this is not an easy sell. The area is certainly not the Hamptons, Beverly Hills or Miami Beach.
4. MC Hammer smoked through 30mm in one year, several rappers/sports stars have gone broke as their career dried up. Mr. Ross was a former prison guard, it is very possible he doesn't understand the time value of money and the value of diversified investments.
5. Mike Tyson had a similar home (similar size as well) in Connecticut and it was lost through divorce, then "fire-saled" to rapper 50 Cent who dumped millions into it only to find there are no buyers in that area for a house of that size. The house: 50 Poplar Hill Dr, Farmington, CT 06032 - Zillow
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Old 01-21-2014, 03:39 PM
 
Location: Ono Island, Orange Beach, AL
10,743 posts, read 13,377,694 times
Reputation: 7178
Speachless.....
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Old 01-22-2014, 04:27 AM
 
Location: Atlanta, GA
1,050 posts, read 1,690,463 times
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Quote:
Originally Posted by betheclub98 View Post
Really?

While I can't condone the purchase of this house, how is this a worse financial move than the typical American? Would you be questioning the family with two working professionals buying a $300k home in Kennesaw? Seems to me that it's not likely for this family to have over $1M net worth (3.5x the price of their house).

You sure you didn't form your opinion because it's Holyfield and Rick Ross?
There is a difference between how middle class families and HNWI or UHNWI allocate their resources.

I won't even dignify your last question.
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