Athletes and Real Esate: Unless You’re Big-Time, You Should be Renting
1-liner, NBA, NFL, NHL November 27th. 2009, 2:00pmAthletes and Real Estate: “‘I’ll never buy again,’ said the veteran Nets guard Keyon Dooling, who rents the downtown Orlando condominium he bought in 2005 to a Magic player. ‘That was a learning experience. I’ll never buy again as far as where I’m playing. It’s not a good idea because you can never predict how long you’re going to be in a situation.’” Curiously, no real estate agent is quoted. That’s because if you talk to those clowns, they’ll tell you real estate only goes up. Unless you plan on staying in the house 10+ years and have strong job security or deep pockets, rent. Athlete or otherwise. [NYT]
11 Responses to “Athletes and Real Esate: Unless You’re Big-Time, You Should be Renting”
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November 27th, 2009 at 2:04 pm
Keyon Dooling sucks dick
/went to Missouri
November 27th, 2009 at 2:23 pm
Another word of advice that I think is more important than knowing you’ll stay for 10-plus years or have deep pockets: DON’T BUY A HOUSE(S) BEYOND YOUR MEANS.
November 27th, 2009 at 2:28 pm
this guy is an idiot. i bet the rent he’s charging isn’t even higher than the cost of the mortgage he pays every month.
i wish i could own a rental property for the extra income.
November 27th, 2009 at 2:32 pm
My wife and I bought our house when the market was so low. 5 years from now I have no doubt that we will, at the very least, make 10k off of it. Add that to the 8k tax credit and I’ll take it.
November 27th, 2009 at 2:34 pm
Are you guys working today? Fucking playoff high school football sucks. If the team I’m covering had lost the coon toss to determine home field advantage I’d be drunk watching the Iron Bowl. Instead I’m going to watch some crapy HS football. Fuck me.
November 27th, 2009 at 2:36 pm
i’m working, or at least, sitting at my desk reading a stephen king novel and checking my outlook inbox every 10 minutes.
November 27th, 2009 at 2:37 pm
Well, you are in the south
November 27th, 2009 at 2:41 pm
iPhone fail. Coon toss? That shit made me laugh.
November 27th, 2009 at 2:56 pm
Nice read here on the subject, post and comments.
November 27th, 2009 at 3:10 pm
.
I think it’s an interesting comparison, especially the take on how a home buyer is paying off a great deal of interest in the first half of the mortgages life.
however, the numbers in comparing similar rental and purchase properties don’t match up at all. if they are both similar then the rent should at least equal the value of the monthly mortgage payment, or be a few hundred dollars higher to create a profit for the landlord.
November 27th, 2009 at 3:42 pm
this killed me haha