Buffett house in market - Laguna Beach CA

[Cigarbutt]

For the groupies,

https://www.mercurynews.com/2018/08/24/billionaire-warren-buffett-chops-price-on-his-laguna-beach-home-to-7-9-million/

The house now includes (image 13 of 15) a television with CNBC on at all times, a copy of the Wall Street Journal and an open bottle of Coke. :)

 

The Laguna Beach and Dana Point beachside areas are really nice. Even where Richard Nixon was "retired" nearby is quite nice. Looking at the pictures, it looks like the new owner will need to upgrade the flooring, cupboards and cabinets and the property is not directly "sitting" on the beach.

[sleepydragon]

If they put a picture of Mr Buffett on the wall, I bet it will sell faster.

 

[boilermaker75]

If Buffett accepts your offer, doesn't that mean you must be overpaying?

[sleepydragon]

If Buffett accepts your offer, doesn't that mean you must be overpaying?

 

Not really, cuz Mr Buffett didn’t want to buy this house initially (ex wife’s idea), and now he would like to sell because it has less utility to him. He is unlikely to be selling due to money reason, i.e he didn’t buy it to make a profit.

[boilermaker75]

If Buffett accepts your offer, doesn't that mean you must be overpaying?

 

Not really, cuz Mr Buffett didn’t want to buy this house initially (ex wife’s idea), and now he would like to sell because it has less utility to him. He is unlikely to be selling due to money reason, i.e he didn’t buy it to make a profit.

 

I was being humorous, at least I though I was!

[Deepdive]

Buffet has the image of a honest mid-western businessman.  I always imagined him writing the annual reports from his house in Omaha.  Does it change anyone's view of the annual letters when we know he wrote it from his multi-million dollar beach house? 

[Rod]

Buffet has the image of a honest mid-western businessman.  I always imagined him writing the annual reports from his house in Omaha.  Does it change anyone's view of the annual letters when we know he wrote it from his multi-million dollar beach house?

 

Buffett's lifestyle is only modest by billionaire standards.

[DooDiligence]

If Buffett accepts your offer, doesn't that mean you must be overpaying?

 

Not really, cuz Mr Buffett didn’t want to buy this house initially (ex wife’s idea), and now he would like to sell because it has less utility to him. He is unlikely to be selling due to money reason, i.e he didn’t buy it to make a profit.

 

I was being humorous, at least I though I was!

 

Rest easy, you were  ;)

 

Conversely, if he's buying your business, you're leaving $ on the table, but you don't have to deal with activist shareholders or sell side ANALysts any more .

[Deepdive]

Buffet has the image of a honest mid-western businessman.  I always imagined him writing the annual reports from his house in Omaha.  Does it change anyone's view of the annual letters when we know he wrote it from his multi-million dollar beach house?

 

Buffett's lifestyle is only modest by billionaire standards.

 

I think spending $3 on breakfast at McDonald's is more modest than my $6 coffee and eggs sandwich.  I am not a billionaire. 

[sleepydragon]

Buffet has the image of a honest mid-western businessman.  I always imagined him writing the annual reports from his house in Omaha.  Does it change anyone's view of the annual letters when we know he wrote it from his multi-million dollar beach house?

 

He didn’t buy a multi million beach house. He bought a 150ish one, I believe. It went up in prices. What he can do about it? Sell it and buy another 150ish house?

[Guest longinvestor]

I’m willing to bet that the proceeds of an eventual sale of this house will go to charity, perhaps the Glide foundation? Just like his annual lunch, his old Cadillac and just about everything else. “ I want my end result to be zero “. That should frame any idle speculation.