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Adam Jones is the buyer of Cal Ripken's estate

SteveA

By SteveA
in Orioles Talk

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atomic Hangout Grand Counsel

atomic

Posted
Posted
Just now, vatech1994 said:

Does anyone know Cal’s motivation for an absolute auction on this property?  And please don’t say the divorce.  He sold this thing for 1/3 of his most recent listing price.  That makes zero sense.  I buy, flip, and sell for a living and there has to be something else going on.  Is Cal in financial trouble?  Does he owe Kelly some sort of lump sum payment that is due soon?  Anyone know?

 Good for Adam.  This is a helluva deal he got.  Very smart.

If Cal had such a hard time selling what makes you think Adam could make a profit on it.  I guess he could tear down the basketball court and depersonalize it.  But the reason it sold for such a "small amount" is no one else wanted it. 

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atomic Hangout Grand Counsel

atomic

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6 minutes ago, vatech1994 said:

He had a hard time selling it at 12M and then at 9.75M.  He auctioned it for 3+M at an absolute auction where he had no options other than to take what he got from what I’m reading.  I don’t want to be condescending toward you so I’m going to just say that most people don’t set the value of an asset at 12 widgets, then try to sell it at 9.75 widgets, and say screw it I will take whatever I can get for it (3 widgets just ended up being that price, it could have been even lower).  There are LOTS of options before that process should be explored.  Absolute auctions are almost never going to lead to a sales price that is anywhere near market / value.  They are typically used when something else is driving the seller’s timing and / or the seller has no bandwidth to facilitate a market value sale.

If you think this is a reasonable approach, please let me know the next time you have trouble selling an asset and I’ll be happy to be your 3 widget cash buyer.

Who said it was a smart thing to do?   I said if someone thought it was worth more than 3.1 million they would have bought it.   It was a highly publicized auction.  Tons of people out their flipping houses.  If there was easy money to be made there would be someone out there paying more for it.   

I don't really care what Cals financial problems are.  None of my business.  But when you add things to a house that no one else is going to want it makes it hard to sell a house.  If I had 3 million to buy a house Calls place would not be my choice. 

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theocean Major Leaguer

theocean

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5 hours ago, atomic said:

Who said it was a smart thing to do?   I said if someone thought it was worth more than 3.1 million they would have bought it.   It was a highly publicized auction.  Tons of people out their flipping houses.  If there was easy money to be made there would be someone out there paying more for it.   

I don't really care what Cals financial problems are.  None of my business.  But when you add things to a house that no one else is going to want it makes it hard to sell a house.  If I had 3 million to buy a house Calls place would not be my choice. 

Maybe it's haunted...

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sportsfan8703 Hangout Grand Counsel

sportsfan8703

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I hope Jones stays and transnations to RF. If we’re going to be terrible, I had least need someone to cheer for. Plus what Is coming here?  Jones could mentor Hays, Mullins, and Stewart.  

Back to the OP, sounds like Jones made a really smart buy. Lots of big houses go for anmillion now. Jones bought a mansion, with all the extras, for only 3x that much. He bought a compound. Smart buy. 

So if you’re keeping track of Jones as an agent,

Smart buy - Cal’s house. 

Dumb buy - Lobbying Angelos to re sign Chris Davis. 

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Anziyan Rookie

Anziyan

Posted
Posted
11 hours ago, vatech1994 said:

Does anyone know Cal’s motivation for an absolute auction on this property?  And please don’t say the divorce.  He sold this thing for 1/3 of his most recent listing price.  That makes zero sense.  I buy, flip, and sell for a living and there has to be something else going on.  Is Cal in financial trouble?  Does he owe Kelly some sort of lump sum payment that is due soon?  Anyone know?

Good for Adam.  This is a helluva deal he got.  Very smart.

Your talking a six digit number per year to keep a place like this even with no one living there.  Kind of hard to justify no matter how much money you have when you are not living there and want to sell.

Taking this into account I actually think it's a stupid move on Jones' part if he's not planning on living there.  I'm a sub for one of the few home builders in the area that specializes in multi-million dollar new homes/renovations.  Unless its a historic property or horse farm most people who spend this much money on a home want everything customized to their "needs."  I just don't see anyone coming in spending what he paid to run a bulldozer through it and build new.    
   

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Moose Milligan Hangout Grand Counsel

Moose Milligan

Posted
Posted
12 hours ago, vatech1994 said:

Does anyone know Cal’s motivation for an absolute auction on this property?  And please don’t say the divorce.  He sold this thing for 1/3 of his most recent listing price.  That makes zero sense.  I buy, flip, and sell for a living and there has to be something else going on.  Is Cal in financial trouble?  Does he owe Kelly some sort of lump sum payment that is due soon?  Anyone know?

Good for Adam.  This is a helluva deal he got.  Very smart.

I don't know Cal's motivation, honestly his financial issues shouldn't be of concern to anyone.  But as someone else noted, it doesn't make sense to keep something like that if you're essentially a divorced empty nester.

I will say this....if I'm Cal and I've got a good business going, have made a lot of money from playing baseball and truly don't need to sell this thing for as much as I possibly can...AND I'm going to have to give a portion of whatever I get for it to the ex wife... I'll give it to someone for 10k.  

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Tx Oriole Hangout Grand Counsel

Tx Oriole

Posted
Posted
2 hours ago, sportsfan8703 said:

I hope Jones stays and transnations to RF. If we’re going to be terrible, I had least need someone to cheer for. Plus what Is coming here?  Jones could mentor Hays, Mullins, and Stewart.  

Back to the OP, sounds like Jones made a really smart buy. Lots of big houses go for anmillion now. Jones bought a mansion, with all the extras, for only 3x that much. He bought a compound. Smart buy. 

So if you’re keeping track of Jones as an agent,

Smart buy - Cal’s house. 

Dumb buy - Lobbying Angelos to re sign Chris Davis. 

You really believe AJ did that?

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spiritof66 Hangout Grand Counsel

spiritof66

Posted
Posted
4 hours ago, sportsfan8703 said:

I hope Jones stays and transnations to RF. If we’re going to be terrible, I had least need someone to cheer for. Plus what Is coming here?  Jones could mentor Hays, Mullins, and Stewart.  

Back to the OP, sounds like Jones made a really smart buy. Lots of big houses go for anmillion now. Jones bought a mansion, with all the extras, for only 3x that much. He bought a compound. Smart buy. 

So if you’re keeping track of Jones as an agent,

Smart buy - Cal’s house. 

Dumb buy - Lobbying Angelos to re sign Chris Davis. 

Maybe there's a connection. Adam buys large house. Large house has recreational facilities and lots of paved surfaces. Recreational facilities are dangerous. Paved surfaces develop potholes. Adam invites certain teammates over to house. Certain teammates risk injuries in recreation and/or from potholes. Stuff happens.   :noidea:

 

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theocean Major Leaguer

theocean

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2 hours ago, Moose Milligan said:

I don't know Cal's motivation, honestly his financial issues shouldn't be of concern to anyone.  But as someone else noted, it doesn't make sense to keep something like that if you're essentially a divorced empty nester.

I will say this....if I'm Cal and I've got a good business going, have made a lot of money from playing baseball and truly don't need to sell this thing for as much as I possibly can...AND I'm going to have to give a portion of whatever I get for it to the ex wife... I'll give it to someone for 10k.  

I don't know Cal's motivation at all, and I have absolutely no information about his financial issues. That being said, I'm going to speculate wildly like I ABSOLUTELY know what I'm talking about.

So, I will say this... if I'm Cal I want to sell the house because it constantly reminds me of Kevin Costner. I want $12 million for the property but all the buyers KNOW that I'm not going to resign with the house and probably move to New York and should have sold last offseason ---- but then Peter Angelos got involved because Brady Anderson is actually Grima Wormtongue to Angelos' King Theoden. All I'm saying is that Cal should have sold his house last offseason but we never will because Angelos loves his money and is using all the money to buy more PEDs for Chris Davis to try and make his contract worthwhile. If Cal sold the house last offseason he probably could have gotten $50 million dollars and 1998 Pedro Martinez but since he waited this team is a laughing stock and now he only got pennies on the dollar because all the teams know he is going to sell it because Kevin Costner HAUNTS HIM. 

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wildbillhiccup Hangout Grand Counsel

wildbillhiccup

Posted
Posted
2 hours ago, Moose Milligan said:

I don't know Cal's motivation, honestly his financial issues shouldn't be of concern to anyone.  But as someone else noted, it doesn't make sense to keep something like that if you're essentially a divorced empty nester.

I will say this....if I'm Cal and I've got a good business going, have made a lot of money from playing baseball and truly don't need to sell this thing for as much as I possibly can...AND I'm going to have to give a portion of whatever I get for it to the ex wife... I'll give it to someone for 10k.  

I imagine selling the estate was like turning off a leaky faucet. Except this faucet leaked money and not water. Imagine the cost just for the up keep. 

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OFFNY Hangout Grand Counsel

OFFNY

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19 hours ago, atomic said:

 

Who said it was a smart thing to do ??? I said that if someone thought it was worth more than $3.1 Million, they would have bought it. It was a highly publicized auction. Tons of people are out their flipping houses. If there was easy money to be made, there would be someone out there paying more for it.   

I don't really care what Cal's financial problems are ........ it's none of my business. But when you add things to a house that no one else is going to want, it makes it hard to sell said house. If I had $3 million to buy a house, Cal's place would not be my choice. 

 

 

 

13 hours ago, theocean said:

 

Maybe it's haunted ........

 

o

 

Image result for House on Haunted Hill

 

o

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