So rich people get mortgages on these mega mansions too? I feel like drake got the cash for this but I wonder how the finances work
Not sure if mansions like this go up in value in a similar way to regular real estate, but in the short-term paying like 4% APR on a mortgage let's you keep that $78 million and invest it in stuff that can make a lot more than 4% in the long run
So rich people get mortgages on these mega mansions too? I feel like drake got the cash for this but I wonder how the finances work
rich people almost always get a mortage. it's always better to finance an asset with debt than with equity / cash
Not sure if mansions like this go up in value in a similar way to regular real estate, but in the short-term paying like 4% APR on a mortgage let's you keep that $78 million and invest it in stuff that can make a lot more than 4% in the long run
yep exactly
I think i know thats why im asking
I can't remember who did it but it's probably who you think it is.
So dope! Wonder what happens to the YOLO Estate now
doubt he bought this. probably a rental for the night / event. the LA celebrity real estate writers are on top of every transaction. wouldn't be surprised if he gets a crib like this in LA down the line tho. YOLO probably feels like an apartment after the Embassy
Design wise this is way better than his mansion imo, but it’s gotta be nice to have different vibes at all your houses
So rich people get mortgages on these mega mansions too? I feel like drake got the cash for this but I wonder how the finances work
Better to be cash rich than house rich
Who do these mansions always have more bathrooms than bedrooms? 41,000 sqft is insane though
10 bathrooms I can s*** all day nigga
Forbes don’t know s*** tbh
I think sometimes they ask for documents to get an accurate scope, but in Drakes case I don't think they ask, where as w the Kardashians they do
Imagine owning 2 properties worth 75+ million dollars each in 2 different countries. That’s actually insane
Saudi level money tbh
this is what separates Drake from his peers in the same way that Jay separated himself
gotta get the bag
nahmean
hov and diddy want no problems with drake
dude gon be the richest rapper ever
he has to get his investments up
You remember that he bought his neighbor's property and another property next to that to round out the cul-de-sac? So now he has like 3 properties: the YOLO estate and the two houses close to it.
My guess is that he ends up selling it since he rarely spends much time in LA to begin with and now he seems to have a whole new place. Makes no sense keeping 3 extra properties in the same city that he won't be using.
I think his dad lives in one of those homes
he has to get his investments up
that's the thing
we know that's coming
but he's poised to make more from
music than any rapper we've ever seen
and the funny thing is,
Russ is gonna be high
on that list too
they walked so we could run
nahmean
So rich people get mortgages on these mega mansions too? I feel like drake got the cash for this but I wonder how the finances work
Probably since they can leverage their money in more lucrative ways like startups and stuff. No reason to tie so much money to an illiquid asset.
I think his dad lives in one of those homes
yeah, one is for his dad and the other is for the guys (chubbs, etc.). main house was getting a little crowded with everyone there.
not sure if this bel air house is something he bought or just rented for the party or for a few months. leaning towards the latter bc hollywood real estate writers are on top of every transaction. also he rented a house in BH in 2017 or so when the YOLO was getting renovated. and he rented a house for his birthday last year for night 1 of the party
doubt he bought this. probably a rental for the night / event. the LA celebrity real estate writers are on top of every transaction. wouldn't be surprised if he gets a crib like this in LA down the line tho. YOLO probably feels like an apartment after the Embassy
People hating on the YOLO estate, the main estate has 130k sq ft of land, with the pool/grotto, basketball court, volleyball thing, mechanical bull, and a stable + the other 2 neighbors homes. That's a lot to swallow.
that's the thing
we know that's coming
but he's poised to make more from
music than any rapper we've ever seen
and the funny thing is,
Russ is gonna be high
on that list too
they walked so we could run
nahmean
is Russ independent? and yeah but Music isn't nearly as much as other assets. the richest rappers all got rich with companies that had nothing to do with music or were only a little related to music. Dr. Dre with Beats by Dre but that's really a hardware company. Diddy with Ciroc. Jay with D'Usse, RocaWear, etc. Nas is going crazy with VC (he's a pretty early Coinbase investor). Drake is going to have to go harder in that world. That's really Future the Prince's realm now tho