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The house Ford Built


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I have no idea why a person would build such a house in a college town.  Just because it is the house you wanted doesn't mean that anybody will want it or could even afford it.  You were probably the highest paid - next to the football coach - person in the town and he already has his mansion.  Good luck in trying to get rid of it for what he thinks it is worth.  Now in StL he has a fighting chance to sell something like that.

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17 minutes ago, cheeseman said:

I have no idea why a person would build such a house in a college town.  Just because it is the house you wanted doesn't mean that anybody will want it or could even afford it.  You were probably the highest paid - next to the football coach - person in the town and he already has his mansion.  Good luck in trying to get rid of it for what he thinks it is worth.  Now in StL he has a fighting chance to sell something like that.

Because he could. 

 

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Yes, he built the house because he could, that is correct. He will have trouble selling it. Houses like that in small communities priced much below asking price are very hard to sell. The American Dream turns into the American Nightmare. Ever been stuck with paying two mortgages at the same time?

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14 minutes ago, Old guy said:

Yes, he built the house because he could, that is correct. He will have trouble selling it. Houses like that in small communities priced much below asking price are very hard to sell. The American Dream turns into the American Nightmare. Ever been stuck with paying two mortgages at the same time?

I got two mortgages, thirty million in total. 

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17 minutes ago, RiseAndGrind said:

Because he could. 

 

Obviously he could, but it is still a really poor financial decision. I think coaches (like athletes) get caught up in their current pay check, but that can go away real quickly and when they are no longer calling the shots for a high major program those pay checks become much smaller. I doubt he makes enough money to make losing his ass on a house in Stillwater palatable. From what I have heard about Coach Ford, he goes out of his way to portray wealth and a baller lifestyle in recruiting and that apparently carries forward to all aspects of his life. I am assuming he is the type of guy I would not want to hang out with, but as long as that douchebaggery can sell top flight recruits on playing for SLU, more power to him.

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Given the nature of the profession, if I were a coach, I would not build a custom home for myself.

It's crazy that he was willing to wait 2 years for his dream house to be built there. You'd assume it took him a while to get settled there, have the plans drawn up, and so forth. So the process had to be well over 2 years in total. I can't imagine giving up that much time in such a high-pressure job situation. That takes an insane level of confidence.

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He got a $7.5M buyout, which sounds like he could lose his ass and his right nut and still be OK save for the obvious problems with his wife and girlfriends. And it doesn't say if the buyout included covering any losses on the sale of his house. I wonder...

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14 minutes ago, bonwich said:

He got a $7.5M buyout, which sounds like he could lose his ass and his right nut and still be OK save for the obvious problems with his wife and girlfriends. And it doesn't say if the buyout included covering any losses on the sale of his house. I wonder...

Good point. He might not care what it sells for because of that. Who knows.

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My guess is the house had more to do with keeping the wife happy than him feeling the need to protray a baller lifestyle.  When you work the kind of hours a coach at a BCS basketball program does and spend massive of amounts of time on the road, you get a house that will keep momma happy.

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2 minutes ago, brianstl said:

My guess is the house had more to do with keeping the wife happy than him feeling the need to protray a baller lifestyle.  When you work the kind of hours a coach at a BCS basketball program does and spend massive of amounts of time on the road, you get a house that will keep momma happy.

Travis Ford likes to live a "baller lifestyle"

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I understand that if you make a lot of money you probably want to own a big expensive house.  Now that being said, that does not mean you should build such a thing. What you have to do is evaluate the entire situation you are in - A head coach should only assume he will be there for the term of his contract.  Given that the odds are you mayl not get an extension so you have to consider that you will be selling the house at sometime in the near future.  Making sound business decisions regardless of how much money you make is still prudent.  If you continue to lose $1M or more on houses you build, it can not but have an impact on your financial future.

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3 minutes ago, wgstl said:

I say build the biggest house you can.

 

F the haters

If you are in a big city market - perhaps but in a smaller town you have to be smarter.  Yes it is his money and he can do what he wants with it but that does not mean others can not express a sounder approach.

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Oh geeze this thread.  SO many naysayers in general on this board. The house is selling for $2.25M, which means he probably paid $2M or less to build the thing. This is jack all to a guy who supposedly had a buyout remaining of $9.6M when he was fired and made millions a year prior to being canned. $2M for a house on a $2M salary + guaranteed payout even if he is canned is peanuts. 

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The guy ended up making over $20 million dollars at OSU.  Even if he takes a $1 million dollar loss on the house, who cares?  If it made his wife and kids happy it was worth less 5% of his income.  He is still going to have plenty of money to put his kids through school and to spend in his retirement.

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