Keeps getting worse for Russell

[Maynard]

this article says he is the biggest bust in the draft...is he? i always associate that with Ryan Leaf.

 

[FirstTimer]

Still ended up with a better pro career than Brady Quinn, so I'll chock up my first head-to-head MQ battle with FirstTimer as a "win."

Quinn is still collecting an NFL paycheck and doesn't have a house in foreclosure.


:smug:

And I take back my birthday well-wishes.

this article says he is the biggest bust in the draft...is he? i always associate that with Ryan Leaf.

I'd say Ryan Leaf is.

 

[Warner2BruceTD]

having a mortgage is financially better than spending a 2.4 million on a house. Making payments will help your credit score and minimize your risk of the real estate market sinking even further.

You can put 1 million down and mortgage the rest. Take 1.4 million and invest it in wide array of investments. If you do it right you will make much more than the interest you are paying on the mortgage.

Ask any accountant.

My guess is that house is probably worth 1.4 million now or even less. Depending on how much he put down he is probably looking to walk away.

I mean think about it...if he did buy it for 2.4M and it is now worth 1.4. If he sells it is a 1 million loss. IF he only put 400K down on the house and he walks away......he only loses 400K.

But now he is broke and facing forclosure.

If he had paid for the house outright, he would now be able to sell, and even if its only worth $1.4 million, he would now have $1.4M in liquid assets to restart his life.

At this point, what is more important to him, the $1M loss, or the fact he is flat broke and can't pay for his house, and could have been looking at 1.4M in cash right now?

Something tells me Dumbarcus Russell didn't use his signing bonus money to diversify his portfolio.

 

[NAHSTE]

this article says he is the biggest bust in the draft...is he? i always associate that with Ryan Leaf.

"Biggest" is the key word here.

:badjoke:

 

[Rayman]

$2.4 million home.

What was his signing bonus? Why even make mortgage payments? Why didn't he just buy the fucking thing outright?

And he really doesn't have $200k laying around to take care of this?

And why do these stories keep surprising me every time I hear them?

I mentioned this in another thread, but again, these idiots think the base price for the home is all they're ever gonna have to pay.

 

[FirstTimer]

But now he is broke and facing forclosure.

If he had paid for the house outright, he would now be able to sell, and even if its only worth $1.4 million, he would now have $1.4M in liquid assets to restart his life.

At this point, what is more important to him, the $1M loss, or the fact he is flat broke and can't pay for his house, and could have been looking at 1.4M in cash right now?

Something tells me Dumbarcus Russell didn't use his signing bonus money to diversify his portfolio.

When you get as much money as he does upfront I don't think credit scores are really an issue.

 

[jms493]

But now he is broke and facing forclosure.

If he had paid for the house outright, he would now be able to sell, and even if its only worth $1.4 million, he would now have $1.4M in liquid assets to restart his life.

At this point, what is more important to him, the $1M loss, or the fact he is flat broke and can't pay for his house, and could have been looking at 1.4M in cash right now?

Something tells me Dumbarcus Russell didn't use his signing bonus money to diversify his portfolio.

well I am not taking into the fact that he is fucking flat broke or predicting that he would be. I am not sure if investing 101 applies to this dope.

IMO I don't think he is flat broke. I think he is walking away from a bad investment.

 

[Senser81]

I mean think about it...if he did buy it for 2.4M and it is now worth 1.4. If he sells it is a 1 million loss. IF he only put 400K down on the house and he walks away......he only loses 400K.

Remember in Entourage when Vinny leases a Bentley, but then goes broke and Turtle says "sell the Bentley for money" and then they figure out they can't do that because its a lease?

 

[Tailback U]

I usually don't wish ill will upon people, but this makes me happy.

 

[jms493]

Remember in Entourage when Vinny leases a Bentley, but then goes broke and Turtle says "sell the Bentley for money" and then they figure out they can't do that because its a lease?

wtf does have to do with anything??

lease vs buy.........:dontknow:..ok

 

[Senser81]

wtf does have to do with anything??

lease vs buy.........:dontknow:..ok

Rich people who don't actually own anything, so they can't sell off their crap for money?

BTW, didn't you used to have an avatar of a cat shooting a machine gun?

 

[jms493]

BTW, didn't you used to have an avatar of a cat shooting a machine gun?

yes.........good memory. That avatar was cool but i'm a big boy now...:joystick:

 

[jeffx]

$2.4 million home.

What was his signing bonus? Why even make mortgage payments? Why didn't he just buy the fucking thing outright?

And he really doesn't have $200k laying around to take care of this?

And why do these stories keep surprising me every time I hear them?

I'd like to know why these stories surprise you at all. You've seen it time and time again with pro athletes and celebrities.

A fool and his money.....

 

[wr50l]

And I take back my birthday well-wishes.

You mean calling him a faggot?

 

[citizenerased]

Heisman. Lol.

Most talented team in the NFL remember.

 

[j.hen]

He shouldn't have a problem paying it. I have no sympathy for these rich people with money problems. It's really not that hard to not spend all your money like a jackass.

 

[Raidersabc123]

hahaha fuck russell

 

[EmpireWF]

hahaha fuck russell

Way to abandon your boy.

 

[Hasselbeck]

It is kind of fitting Jamarcus Russell was the first NFL player to get locked out this year. :smug:

 

[GoChargers]

Remember in Entourage when Vinny leases a Bentley, but then goes broke and Turtle says "sell the Bentley for money" and then they figure out they can't do that because its a lease?

I think what jms is trying to say is that Russell is not broke and is probably nowhere near broke. He probably doesn't give a crap about the house and is walking away, chalk it up as a bad investment. The guy got 32 million guaranteed there is no way he's broke