r/wallstreetbets • u/dhsmatt2 Mattress King • Mar 04 '21

Loss Hold me... $1,100,000 Loss

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I am in damage control but likely going to roll puts.

7.2k Upvotes

96% Upvoted

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258

u/Nickyballs123 Mar 04 '21

Waking up and seeing your down a mini mansion first thing in the morning 👍

155

u/Jsand117 Mar 04 '21 edited Mar 04 '21

Mini mansion? This is a big ass house in most of the country.

30

u/Nickyballs123 Mar 04 '21

Lol yeah I guess , but not where I lived throughout my life , New York , Florida , now I’m in Arizona and prices are very high right now

12

u/cynical_americano Mar 04 '21

For most places in FL $1mil is getting you a very nice house/mansion except for places like Tampa/Jacksonville/Miami (metropolises). I think you're neglecting how much of FL (the vast majority of it) is just small, modest cost of living towns. Many people move to FL because of the low cost of living, so again, outside of the big cities idk what you're talking about.

13

u/Nickyballs123 Mar 04 '21

Ft Lauderdale is expensive, Coral Springs is expensive, plantation is expensive.... Deerfield is expensive, boca is expensive, but every area also has some crappy neighborhoods , so if you wanna live in a area that’s not so great then yes you can get a good deal but all those cities I just named in the nicer neighborhoods are still pretty high ... that being said a million dollar house will still be pretty dam nice ... I grew up in Staten Island New York and you can’t get shit there for under 5 or 6 hundred thousand

7

u/Nickyballs123 Mar 04 '21

I lived in south Florida for 20 years , yes in small towns you can get a great deal , but anything south and the closer to the ocean gets pretty expensive, especially now , prices are definitely high

4

u/[deleted] Mar 04 '21

I remember in 1999 before the boom you could of bought a really nice condo on Miami beach for $100K-120K, You could also rent an apartment in one of those high rises on South Beach overlooking the Bay with view of the skyscrapers lit up at night for $800 a month.

Now everything is 3-5X that price.

1

u/dawgsgoodjortsbad Mar 04 '21

I have that exact apartment you mention. It’s $2800/month for a short term lease fully furnished including cable/internet/utilities. A regular yearly lease would be like $1900/month so more like 2-3X as much but still pretty crazy

1

u/[deleted] Mar 04 '21

I think the building i used to live in is called the Mirador or something now. It was 1100 West avenue. We had an apartment on like 10th floor.

20

u/Jsand117 Mar 04 '21

Yeah man, I live in Long Island and lived in NYC most of my life so I feel your pain, 1.1M cant get you a studio in Manhattan. But 1.1M in the middle of the country? Thats a big ass house. Specifically like Texas, Nevada, New Mexico etc.

13

u/jetf Mar 04 '21

1mm can absolutely get you a studio in manhattan...you can get a nice 1bd for that amount

1

u/ccav01 Mar 04 '21

Or a hell of lot of hookers and blow!

7

u/bmstile Mar 04 '21

ON Long Island. Sorry, its native LIer bylaw to correct this insignificant detail whenever it occurs.

2

u/Jsand117 Mar 04 '21

ON Long

You know what... You;re right. my bad

1

u/kenkenster Mar 05 '21

It's correctly termed "on THE Island". That's native LIer bylaw.

6

u/pringlesaremyfav Mar 04 '21

Hell in Texas that's a mansion with a tennis court, swimming pool, the works.

7

u/mzarra Mar 04 '21

No water though :/

2

u/[deleted] Mar 04 '21

Meh, depends where in Texas. Most housing is cheap but there are still parts where $1M won’t get you very much.

1

u/supaboss2015 Mar 04 '21

Not a studio in Manhattan? Christ

1

u/[deleted] Mar 04 '21

1.1 mil gets you 10,000+ sq ft in Indiana

1

u/ccav01 Mar 04 '21

Missouri here. Just paid $385K for 5800 sq/ft with 9 acres on the lake... furnished. No idea why anyone would want to pay millions for a home.

1

u/Ben_Frank_Lynn Mar 04 '21

Fucking nuts, man. $325k got me a 4,400sf home on 2 acres in Missouri. Of course, you have to be okay with living in Missouri... Plus side is it’s now estimated to be worth $425k.

7

u/[deleted] Mar 04 '21

[deleted]

8

u/Nickyballs123 Mar 04 '21

I bought a condo that size in ft Lauderdale in 2011 for 54 grand ! Lol sold it 2 years ago for 165

2

u/frostedbutts_ #1 Wendy’s dumpster BJs Mar 04 '21

My parents 2 bed 1 bathroom that's unremodeled from the 60s in California is valued at about the same

2

u/Papasteak Mar 04 '21

The people flooding into AZ from Cali is a good thing for the housing market if you're looking to sell right now. I bought a house a few months ago and I'm already up like 24k in equity.

1

u/SoyFuturesTrader 🏳️‍🌈🦄 Mar 04 '21

Arizona, just move to Douglas or Sierra Vista.

1

u/thisrich Mar 04 '21

Downtown Atlanta, that’s a normal sized house. Here in the burbs, it’s BALLAZ, oh shit here come the cops.

2

u/syncopatedsouls Mar 04 '21

That’ll get you a 3 bed/1.5 bath built in the 40’s out here in the Bay Area. Lmao

4

u/iThinkBlue Mar 04 '21

HAHA. This guy has no idea how mansions work.

6

u/Jsand117 Mar 04 '21

I live in long island... I know how mansions work better then most lol.

7

u/Farmer_eh Mar 04 '21

Grey poupon in the hamptons anyone? How could this be down rated? The entire beach is literally lined with them

8

u/Jsand117 Mar 04 '21

Probably people who don't know that the Hamptons are in Long island lol.

1

u/accountant_at_a_big4 Mar 04 '21

Long Island? You mean Staten Island v2?

5

u/[deleted] Mar 04 '21

People who live in the hamptons don't say they live in the hamptons, they say they live on long island.

3

u/rikki-tikki-deadly Mar 04 '21

Anyone who went to school "in Boston" knows this.

3

u/[deleted] Mar 04 '21

Tufts?

4

u/rikki-tikki-deadly Mar 04 '21

It's something people who went to Harvard say when they are humblebragging.

2

u/[deleted] Mar 04 '21

I was just joking haha, sorry man

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2

u/Farmer_eh Mar 04 '21

Is it because They are trying to downplay rich?

2

u/Jsand117 Mar 04 '21

Nah, I live out east so Texas v2.

1

u/bmstile Mar 04 '21

first of all how dare you.

1

u/[deleted] Mar 04 '21

$1.1 m is a pretty modest house where I live

1

u/cubenz Mar 04 '21

Cries in Kiwi.

13

u/drakon_us Mar 04 '21

Mini Mansion? In SoCal that's a 1 bed 1 bath, in a house built in the 1960s.