Report: LeBron James to Spend $49.5 Million on Coral Gables Home

[BehindEnemyLinez]

http://nba.fanhouse.com/2010/07/17/report-lebron-james-to-spend-49-5-million-on-coral-gables-home/



WOW! Way to make yourself at home in south Florida there, Bron-Bron!!

 

[casmith07]

Yeah I knew he was going to Miami about a day or so prior to his decision - he had put in a bid on that home like the Tuesday before.

880 feet of South Florida waterfront - can't get that in Cleveland

 

[YosemiteSam]

Dumb. I can see him being the next Antonie Walker.

His entourage and his ignorant spending habits are going to make him an NBA broke-*** player statistic when it's all said and done.

 

[ThrowuptheXDez88]

Dumb. I can see him being the next Antonie Walker.

His entourage and his ignorant spending habits are going to make him an NBA broke-*** player statistic when it's all said and done.

sorry buddy, dude will be a billionaire soon I am sure... He is definitely not the next Antoine Walker hahaha

 

[casmith07]

Dumb. I can see him being the next Antonie Walker.

His entourage and his ignorant spending habits are going to make him an NBA broke-*** player statistic when it's all said and done.

lol, seriously? LeBron James probably manages his money better than David Stern.

 

[Hoofbite]

1 million per year in taxes.

That's a lot of money.

 

[big dog cowboy]

880 feet of South Florida waterfront - can't get that in Cleveland

Even if you could, would you really want to? Over south beach?

 

[baj1dallas]

Even if you could, would you really want to? Over south beach?

ummm yes? Why the hell wouldn't you?

 

[casmith07]

1 million per year in taxes.

That's a lot of money.

I wonder where they got that figure from. I'm not familiar with Florida's taxes, but generally in places with low/no income tax, thats how they still get you on your property.

Even if you could, would you really want to? Over south beach?

No way. I'd be in South Beach all day, every day.

ummm yes? Why the hell wouldn't you?

880 feet of waterfront property in Cleveland over 880 feet of waterfront property on the Atlantic in South Beach? I think you read bdc's post wrong, haha.

 

[BehindEnemyLinez]

Even if you could, would you really want to? Over south beach?

ummm yes? Why the hell wouldn't you?

I think big dog is saying would u take 880ft of beachfront in Cleveland over 880ft in Miami?! And the answer is hell-to-the-no!

 

[InmanRoshi]

House in itself isn't a horrible investment ... especially in this market. You get equity in it.

It's not one of my major alarm bells, such as


a) Get divorced.


b) Investing in a vanity business project with historically low success rates (record labels, restaurants).


c) Spend a lot of money on highly depreciable assets ... ie cars.

d) Get divorced.

 

[kev8822]

House in itself isn't a horrible investment ... especially in this market. You get equity in it.

It's not one of my major alarm bells, such as


a) Get divorced.


b) Investing in a vanity business project with historically low success rates (record labels, restaurants).


c) Spend a lot of money on highly depreciable assets ... ie cars.

d) Get divorced.

Tell that to Shaq. Last I remember he was going to take a 10+ million loss on his Miami home. Not sure if he ever sold it or not. He is begging for any team to give him a 2 year deal right now.

 

[kev8822]

lol, seriously? LeBron James probably manages his money better than David Stern.

Those thug hanger on's of his are going to bleed him. Eventually he will have to dump them or get hit in the wallet and lose endorsement $ because of all the bad press they will cause him. The Cleveland police have covered up a lot of his thugs and mom's activities.

 

[MarionBarberThe4th]

Those thug hanger on's of his are going to bleed him. Eventually he will have to dump them or get hit in the wallet and lose endorsement $ because of all the bad press they will cause him. The Cleveland police have covered up a lot of his thugs and mom's activities.

thug?

 

[Hostile]

Hope he can afford it when he retires.

 

[Maikeru-sama]

Is he "spending" $49.5 million or is he "borrowing" $49.5 million?

As someone stated, it is an "investment" and just like any investment, you take risks.

 

[rkell87]

i thought i saw figures that in miami he would make 700-800 million career and if he would have signed in NY/NJ he would have made over one billion....either way thats alot to spend

 

[SaltwaterServr]

1 million per year in taxes.

That's a lot of money.

Uh, it's almost 3 million a year in taxes. Coral Gables property tax rate stands at $5.89 per $1000 of assessed value. They've voted an increase to $6.189 per $1000.

Currently he'd owe $2,915,500 per year in taxes alone. If the new rate takes effect, he'd owe $3,063,555 per year.

That's not HOA dues, upkeep, grounds maintenance, landscaping, electric, anything else.

$3 million a year. Pffft, into thin air.

 

[kev8822]

thug?

I should say thug wannabe. He has 4 hanger on's that think they are gangsters. I know the Knicks, and the Bulls told him if he would join the team they were not welcome.

 

[MarionBarberThe4th]

I should say thug wannabe. He has 4 hanger on's that think they are gangsters. I know the Knicks, and the Bulls told him if he would join the team they were not welcome.

You shouldnt have said anything. You know why you said it, it was dumb