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August 9th, 2014, 7:30pmET

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Old 01-31-2014, 01:09 PM   #11
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Default Re: Farrior Drops $3.8 mIllion On New House

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But it's in Houston of all places!!! Frankly, you could offer me the biggest, nicest house in town and I still wouldn't want to live in Houston.
A buddy of mine works for an airline; he was promoted and moved to Dallas.

He got to design his home: 5 bedrooms, 4 baths, with a BBQ in the back, a professional grill in the kitchen, and well, basically, EVERYTHING that you could ever want... all for merely $150,000.

But, as he said, there is one small drawback: "It's is effing DALLAS!!!"
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Old 01-31-2014, 02:51 PM   #12
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Default Re: Farrior Drops $3.8 mIllion On New House

3.8 mil for a house and he's NOT making millions anymore?!? He'll be broke in 10 years
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Old 01-31-2014, 02:58 PM   #13
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Default Re: Farrior Drops $3.8 mIllion On New House

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3.8 mil for a house and he's NOT making millions anymore?!? He'll be broke in 10 years
If he has a good financial advisor, he will be fine.

The house is paid off; so, there is no mortgage.

He has about $35 million left on the bank. Property takes of $75,000 per year... times fifty years... is $3.8 million. That still leaves about $30 million to spend on smelling salts.
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Old 01-31-2014, 03:38 PM   #14
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Default Re: Farrior Drops $3.8 mIllion On New House

Didnt he have to pay taxes on the 35 mil? Electricity alone on that house will be idk 2000 a month?? i bring home about 5000 a month but IF I spend 6000 a month on whatever eventually all the money that i have saved up will run out!! My thing with athlete is why do they always have the need to have all this big toys? Wouldnt a house with 3000 sq ft work just as good? I hope he never goes broke tho.
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Old 01-31-2014, 03:50 PM   #15
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Default Re: Farrior Drops $3.8 mIllion On New House

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Didnt he have to pay taxes on the 35 mil? Electricity alone on that house will be idk 2000 a month?? i bring home about 5000 a month but IF I spend 6000 a month on whatever eventually all the money that i have saved up will run out!! My thing with athlete is why do they always have the need to have all this big toys? Wouldnt a house with 3000 sq ft work just as good? I hope he never goes broke tho.
If he had to pay taxes on the $35 million it has already been paid.

I get your point, though.
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Old 01-31-2014, 06:24 PM   #16
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Default Re: Farrior Drops $3.8 mIllion On New House

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Didnt he have to pay taxes on the 35 mil? Electricity alone on that house will be idk 2000 a month?? i bring home about 5000 a month but IF I spend 6000 a month on whatever eventually all the money that i have saved up will run out!! My thing with athlete is why do they always have the need to have all this big toys? Wouldnt a house with 3000 sq ft work just as good? I hope he never goes broke tho.
We don't know how he invested his money, or what business ventures he's been a part of. He could be rolling in money for all I know. Charlie seems like a smart guy. I think he'll be fine.

If he has $10 million in savings, and finds a way to get just a 3% return on his principal, that's $300,000 a year right there, plus what he earns as an analyst, broadcaster, speaker, NFL pension, etc... He should be fine.
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Old 01-31-2014, 06:45 PM   #17
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Default Re: Farrior Drops $3.8 mIllion On New House

When they report an NFL player's earnings, divide by 2. Taxes, agent fees, and management if he's going the media route all come out of that. Factor in his expenses over his career as well; he hasn't been living in a cardboard box, staying indoors and driving a Yugo.

So, all we can do is *guess* how much money he has.
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Old 02-01-2014, 09:39 AM   #18
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Default Re: Farrior Drops $3.8 mIllion On New House

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Good point Dan. Taxes are even less in Costa Rico...

Speaking of Florida, there is an enclave that the St Joe paper company built on an inland channel behind Panama City before the real estate crash, that has amenities out the ying-yang. They installed all of the community developments before the first plot was sold, and not many were.

They include: A community house, with lounges, a hall, two kitchens, one commercial grade level, a pool, tennis courts, fitness center, olympic pool, wading pool, hot tubs, boat docks, fire ring on the point, boats, bikes, hiking and bike trails, grills, fishing pier all maintained by the St Joe Paper company, AND an airport with in 3 miles. You can probably get one of these $400,000 lots discounted to about $80k.


......and have plenty of money left over to buy a nice hurricane insurance policy.
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Old 02-01-2014, 10:32 AM   #19
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Default Re: Farrior Drops $3.8 mIllion On New House

A neighbor of mine, a few years back, visited San Diego for the SuperBowl. He fell in love with the city, bought a house during that same weekend... and called his wife, to tell her that they were moving.

He never went back to his old house. He flew his wife & kids out, and had his house packed & sold remotely.

Talk about expendable income.
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Old 02-01-2014, 11:56 AM   #20
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Default Re: Farrior Drops $3.8 mIllion On New House

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We don't know how he invested his money, or what business ventures he's been a part of. He could be rolling in money for all I know. Charlie seems like a smart guy. I think he'll be fine.

If he has $10 million in savings, and finds a way to get just a 3% return on his principal, that's $300,000 a year right there, plus what he earns as an analyst, broadcaster, speaker, NFL pension, etc... He should be fine.
An if he's making as much as 8% interest, you don't even think paying in cash. Lock in at 3.5% mortgage interest and let your money continue to work for you.
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