Rick Ross' 44k Square foot 5.8m mansion has lost -53% of it's value since he bought it

[L&HH]

I say all the time. Most of these celebrities with these crazy big houses stay losing money on them when they sell. I feel like Lebron who recently sold that one house in Brentwood is the only one I’ve seen flip for a profit. Jordan still trying to sell his Chicago crib and it’s been 9 years and like 10 price drops.

 

[UberEatsDriver]

The value dropped as soon as it was reported that he was the owner.

Who wants to buy that house after a rapper has owned it?

Same reason no respectable woman would be caught dead with a Birkin bag now that it’s become popular with a certain demographic.

The only people that respect the court jesters are the people outside the court in the first place.

They’re clowns to the circles they’re trying to buy their way into.

I disagree. Often if a celebrity owns a property the selling agent will use their name to up the price.

 

[UberEatsDriver]

I say all the time. Most of these celebrities with these crazy big houses stay losing money on them when they sell. I feel like Lebron who recently sold that one house in Brentwood is the only one I’ve seen flip for a profit. Jordan still trying to sell his Chicago crib and it’s been 9 years and like 10 price drops.

Damn shyt is still on the market?

 

[Bumblebreh]

The value dropped as soon as it was reported that he was the owner.

Who wants to buy that house after a rapper has owned it?

Same reason no respectable woman would be caught dead with a Birkin bag now that it’s become popular with a certain demographic.

The only people that respect the court jesters are the people outside the court in the first place.

They’re clowns to the circles they’re trying to buy their way into.

Keyword estimated value, and so its true value will be dependent on how much the market is willing to pay.Aint no way that house and the land is worth 2 million.




Breh the majority of the population cannot even afford a birkin bag. We are talking about a handbag that has a waiting list.

he's not losing value unless he sells it for a loss. so that's just numbers on paper.

second, I'll never understand the idea of buying a mega mansion. ur so limited to whom you can sell them to if you need to get rid of it.

To park money and to make a statement,plus the tax write offs.

 

[UberEatsDriver]

Tf nikkas need 17 bathrooms for?

Rappers breh.


People tell me all the time I’m duck tailing when I tell them I only want my house to have 4 bathrooms max lol when I get rich.

mansions are also very bad for the environment.

 

[tuckgod]

Keyword estimated value, and so its true value will be dependent on how much the market is willing to pay.Aint no way that house and the land is worth 2 million.




Breh the majority of the population cannot even afford a birkin bag. We are talking about a handbag that has a waiting list.







To park money and to make a statement,plus the tax write offs.

The majority of the world can’t afford this house but here we are…

 

[Alvin]

As much as he made fun of 50 for buying Tyson's old crib, it looks like he will suffer the same fate. He better keep that for movies because it's going to lose hella value

 

[CashmereThoughts]

I say all the time. Most of these celebrities with these crazy big houses stay losing money on them when they sell. I feel like Lebron who recently sold that one house in Brentwood is the only one I’ve seen flip for a profit. Jordan still trying to sell his Chicago crib and it’s been 9 years and like 10 price drops.

LA Mansions VS anywhere else.

there is a constant pool of willing and qualified buyers in the LA area to purchase multi million dollar properties. LA real estate in general has been sky rocketing for at least 3 decades straight.

How many buyers are making 6M offers on cribs in Fayette county GA?

 

[FaTaL]

I say all the time. Most of these celebrities with these crazy big houses stay losing money on them when they sell. I feel like Lebron who recently sold that one house in Brentwood is the only one I’ve seen flip for a profit. Jordan still trying to sell his Chicago crib and it’s been 9 years and like 10 price drops.

Nobody should be losing money in this real estate boom, the locations must suck

 

[Darealtwo1]

LA Mansions VS anywhere else.

there is a constant pool of willing and qualified buyers in the LA area to purchase multi million dollar properties. LA real estate in general has been sky rocketing for at least 3 decades straight.

How many buyers are making 6M offers on cribs in Fayette county GA?

Same shyt with Boosie......He really thinks his shyt is worth 50m

shyts in the middle of nowhere palemto GA....That 22k sq feet means nothing to a buyer.

Location Location Location

I would be shocked if anyone offered more than 1.2m for it.




I'm with you....I would rather get a 4-5k square foot shyt in LA that I know going up in value vs the 20k+ sq foot shyt in the middle of GA

 

[HalfwayHandsome]

It will make money. He can always airbnb but he isn't hurting. I question the appraiser frfr.

 

[Cat piss martini]

Fat gusto......LAUSE!

 

[GUWOPPERS]

Georgia has a lot of tax incentives for Hollywood so Ross will definitely come out on top of hes renting it out for films.

 

[dj-method-x]

redfin and zillow estimates are not an appraisal. Redfin and zillow #'s come from a computer algorithm and can be WILDY inaccurate (hence why Zillow recently stopped buying houses based on their estimate), especially in this case where this house is not near any houses that are like it. Redfin/Zillow estimates are a wild guess using home sales surrounding the subject property. It doesn't take into account the condition of the home nor any special features. Rick Ross' house is smack dab in the middle of a suburban neighborhood and is in itself one big special feature. My cousin has a 190k townhouse right up the street. The Redfin number means absolutely nothing.

 

[jerzboy]

I ain't even got kids but it's all about the school system when buying

not necessarily true. Folks with ‘money’ don’t worry about public schools. Look at Maryland. Some of the highest incomes for black families in America and the public schools suck... most of those rich black families send their kids to private... Same as the ultra rich who live in Manhattan... u think they’re worried about public schools lol