Brothaman bought his $2M Long Island beach house with cash

[upanddown]

Three stories, beach views, and a tastefully opulent vehicle for transporting the family.

The Opester wins again.

 

[JebJoh]

Shit is only worth what somebody else will pay for it. If Opie sold that house, he wouldn't be able to afford or find another, so while the house has value, the equity will never be realized since selling means he needs the money out. Are you sucking the dick of trapped equity?

My cars value doubled from 10 to 20 and new cars are 30. See how that works?

Buyers would line up to bid on that house, he could sell it and build 5 new ones for himself. 1.6 million was a great deal 10 years ago and 3.2 would be a good deal today.

 

[JebJoh]

I'm surprised he hasn't sold the NYC apartment. That's a huge expense and seems stupid if you aren't working in the city.

Reading between the lines I would guess he will sell and move out of the city when his kids get out of their private school.

 

[BenDovid]

Buyers would line up to bid on that house, he could sell it and build 5 new ones for himself. 1.6 million was a great deal 10 years ago and 3.2 would be a good deal today.

You don't seem to understand the concept of trapped equity. Nobody is saying he can't sell it. But if he wanted to use the money to buy another beach house, he can't, since values are up across the board. We can go back to the car analogy since this is proving too complicated.

You have a 2018 Camry you paid $12,000 for. in 2021 you sold it for $18,000 because used car prices went up. Now you're thinking, oh boy! Now I'm going to use that and get a new car! Now used cars are $20,000, so you're better off just keeping the car you have because even with the profit realized, you're still going out of pocket.

 

[JebJoh]

You don't seem to understand the concept of trapped equity. Nobody is saying he can't sell it. But if he wanted to use the money to buy another beach house, he can't, since values are up across the board. We can go back to the car analogy since this is proving too complicated.

You have a 2018 Camry you paid $12,000 for. in 2021 you sold it for $18,000 because used car prices went up. Now you're thinking, oh boy! Now I'm going to use that and get a new car! Now used cars are $20,000, so you're better off just keeping the car you have because even with the profit realized, you're still going out of pocket.

You really don't seem to know how this works. He bought the house with cash for 1.6. He could sell it for 3.4, you are acting like he put 1.6 in a checking account and waited until prices went up before trying to buy his house. He could sell this house and buy another 3 million dollar house with the money, he could take out a 3 million dollar loan on the house and use the money to build 5 new houses. However you look at it he has over 3 million in equity in a house he paid 1.6 for, so his 1.6 is now worth 3.4 regardless of what he does. I don't know his neighborhood that well but I know he could rent it for the summer and get over 100G per summer. In the past 10 years his money has grown 7.2%/year while having a nice place to spend the summer. Inflation has been pretty low for most of those years so it would only impact his bottom line for 9 months of that 10 years.

Your car analogy makes you sound like someone who can't manage his own checking account. A 2014 car is now worth 10% of the price you paid no matter what, a house you bought in 2014 is worth double now. If you are living in your car now, I apologize for being insensitive.

You also don't seem to know what trapped equity is and who that impacts. None of that equity is trapped if Opie has good credit, the only consideration for him would be the 7% interest rate, but since he doesn't need a loan, he won't be impacted by that either.

 

[Voscabulary]

You really don't seem to know how this works. He bought the house with cash for 1.6. He could sell it for 3.4, you are acting like he put 1.6 in a checking account and waited until prices went up before trying to buy his house. He could sell this house and buy another 3 million dollar house with the money, he could take out a 3 million dollar loan on the house and use the money to build 5 new houses. However you look at it he has over 3 million in equity in a house he paid 1.6 for, so his 1.6 is now worth 3.4 regardless of what he does. I don't know his neighborhood that well but I know he could rent it for the summer and get over 100G per summer. In the past 10 years his money has grown 7.2%/year while having a nice place to spend the summer. Inflation has been pretty low for most of those years so it would only impact his bottom line for 9 months of that 10 years.

Your car analogy makes you sound like someone who can't manage his own checking account. A 2014 car is now worth 10% of the price you paid no matter what, a house you bought in 2014 is worth double now. If you are living in your car now, I apologize for being insensitive.

You also don't seem to know what trapped equity is and who that impacts. None of that equity is trapped if Opie has good credit, the only consideration for him would be the 7% interest rate, but since he doesn't need a loan, he won't be impacted by that either.

dovid's simply struggling to come to terms with the fact that opie is still minted. he wants him to be a failure so badly, much like dovidster, but it's just not the case

 

[JebJoh]

dovid's simply struggling to come to terms with the fact that opie is still minted. he wants him to fail so badly, similar to how danny did long ago

Opie could lose everything except 1 of his homes, he could then sell that last home and live Danny Ross style for the next 150 years with another 50 years of nana's new lifestyle thrown on top.

 

[BenDovid]

You really don't seem to know how this works. He bought the house with cash for 1.6. He could sell it for 3.4, you are acting like he put 1.6 in a checking account and waited until prices went up before trying to buy his house. He could sell this house and buy another 3 million dollar house with the money, he could take out a 3 million dollar loan on the house and use the money to build 5 new houses. However you look at it he has over 3 million in equity in a house he paid 1.6 for, so his 1.6 is now worth 3.4 regardless of what he does. I don't know his neighborhood that well but I know he could rent it for the summer and get over 100G per summer. In the past 10 years his money has grown 7.2%/year while having a nice place to spend the summer. Inflation has been pretty low for most of those years so it would only impact his bottom line for 9 months of that 10 years.

Your car analogy makes you sound like someone who can't manage his own checking account. A 2014 car is now worth 10% of the price you paid no matter what, a house you bought in 2014 is worth double now. If you are living in your car now, I apologize for being insensitive.

You also don't seem to know what trapped equity is and who that impacts. None of that equity is trapped if Opie has good credit, the only consideration for him would be the 7% interest rate, but since he doesn't need a loan, he won't be impacted by that either.

mOneY Go uPPy! ME ritE! YOU DUM STOOPID!

 

[JebJoh]

mOneY Go uPPy! ME ritE! YOU DUM STOOPID!

Seriously, have you ever owned anything besides your magically expensive Tercel? You really seem ignorant here

 

[Dennyislife]

That little scrap of land looks like a big storm would destroy it or if Joe fell off the boat on the other side of the ocean the wave would swamp it

 

[BenDovid]

Seriously, have you ever owned anything besides your magically expensive Tercel? You really seem ignorant here

You just want to fight with me. If I said the sky was blue, you'd call me Jewish, mention Guitar Hero and tell me it's yellow with black dots.

You're all over the place. Calm down. I get it, Opie is richer than The Beatles, but he's going to rent out his summer house....for the summer. Gotcha. Spot on, mate.

"A 2014 car is now worth 10% of the price you paid no matter what." - Now this gem, is from somebody who can't afford a car or hasn't needed one in the last 5 years. The KBB value on a 2014 Camry is approx $12,500. Original MSRP, $22,970. Didn't even lose half it's value, 10 years later.

Stop talking about shit you're clearly uneducated on. Typing the most words doesn't make you win.

 

[Tin Knockher Around]

Someone learned the term trapped equity.

 

[JebJoh]

You just want to fight with me. If I said the sky was blue, you'd call me Jewish, mention Guitar Hero and tell me it's yellow with black dots.

Nonsense, I've never used Jewish insults on here or anywhere. What you were saying was so silly and so wrong that the record needed to be corrected for your own good. Imagine you went into a job interview and shared some of those opinions with the interviewer? You'd stun them with your ignorance.

You're all over the place. Calm down. I get it, Opie is richer than The Beatles, but he's going to rent out his summer house....for the summer. Gotcha. Spot on, mate.

I never said any of those things, maybe you should just admit you are ignorant and move on. Look up the word annuity for future reference.
Whether he would or not, the fact remains, if Opie ever found himself in your (or nana's) financial situation, he could pay his bills just fine by renting his summer house for 6 figures per year. He doesn't need to, for obvious reasons, but he very easily could.

"A 2014 car is now worth 10% of the price you paid no matter what." - Now this gem, is from somebody who can't afford a car or hasn't needed one in the last 5 years. The KBB value on a 2014 Camry is approx $12,500. Original MSRP, $22,970. Didn't even lose half it's value, 10 years later.

Stop talking about shit you're clearly uneducated on. Typing the most words doesn't make you win.

Reread your stupid analogy where the cars were magically appreciating to $20 grand so that meant a 3.4 million dollar house wasn't worth 3.4 million. It makes no sense, it is stupid. As for your magical toyota, I can get 5 of them tomorrow for anywhere from 2 grand to 10 grand. Go find a house like Opies for anything less than 3 million. See the difference? You are shockingly ignorant for an adult

 

[ISO__JOE]

It’s a good thing we have IHOP waiters like @BenDovid around to break down the finer details of multimillion dollar real estate deals. Your boss is 28 years old and your non slip skechers smell like shit.

 

[JebJoh]

Someone learned the term trapped equity.

almost learned it, he was THIIIISSSSSSS close

 

[BenDovid]

Good thing I have all you woodworkers and Guitar Center employees to educate me. I get it dude. You don't like me. Ok.

 

['THE NIGGER MAN']

Seriously, have you ever owned anything besides your magically expensive Tercel? You really seem ignorant here

Vos-tier retarded broke kike midget.

 

[JebJoh]

Good thing I have all you woodworkers and Guitar Center employees to educate me. I get it dude. You don't like me. Ok.

I have nothing against you, you’re just aggressively ignorant today, it’s like talking to a drunk.

 

[BenDovid]

I have nothing against you, you’re just aggressively ignorant today, it’s like talking to a drunk.

You're aggressively ignoring the current used car market and acting like used car prices aren't insane for the last 4 years. Do you live in some magical land that wasn't affected by the last 4 years? You're just being a dick, because it's me. When you call realistic Blue Book value "magic", you're just being a douchebag.

 

[JebJoh]

You're aggressively ignoring the current used car market and acting like used car prices aren't insane for the last 4 years. Do you live in some magical land that wasn't affected by the last 4 years? You're just being a dick, because it's me. When you call realistic Blue Book value "magic", you're just being a douchebag.

Cars are expensive, got it. That said, cars being expensive has nothing to do with anything being discussed here. Car values and home prices are not related in any way. You are desperate to try and downplay Opie's financial success and bordering on insane about admitting you don't know what the fuck you are talking about.