Eben Pagen is poor?

Banned 11 years ago

Who cares. Give the guy a break, it's his life. Just get on with your own life instead of sweating over what others are worth . . or not.

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DubDubDubDot

11 years ago

Originally Posted by Horny Devil

Who cares. Give the guy a break, it's his life. Just get on with your own life instead of sweating over what others are worth . . or not.

There is no malice in these type of discussions. They're actually very relevant from a market research standpoint.

If you've got a competitor that you look up to and hope to catch (or perhaps be x% as big as they are), then you should probably go into that project with an accurate understanding of the profit potential.

There's definitely a lot of people modeling themselves after Eban Pagen. Perhaps they should think twice.

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Horny Devil

Banned 11 years ago

Originally Posted by DubDubDubDot

There is no malice in these type of discussions. They're actually very relevant from a market research standpoint.

Malice? Huh?

These type of discussions are about as relevant as whether a turkey should run then pray, or pray and then run, before the farmer decides it's time for the Christmas table for him.

Originally Posted by DubDubDubDot

If you've got a competitor that you look up to and hope to catch (or perhaps be x% as big as they are), then you should probably go into that project with an accurate understanding of the profit potential.

It's pure daydreaming, which is exactly what the OP is doing. Eben Pagen is hardly his competitor, and knowing what his net worth is will benefit the OP by exactly zilch.

You've posted better quality posts than this, when you've obviously given more time and thought to what you're writing.

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Alexa Smith

Banned 11 years ago

Originally Posted by Horny Devil

You've posted better quality posts than this, when you've obviously given more time and thought to what you're writing.

True, true ... don't look now, but so has everyone else who's made a post in this fine, upstanding, downlying thread. Including myself, now.

If marketers are making money by telling people how much they're earning (i.e. by selling "make money online" and/or "internet marketing advice" products to which their personal success is relevant), and they appear to be living so far under their claimed means that it looks suspicious, then it's certainly at least arguably legitimate to discuss it, isn't it?

But I believe the person we're apparently discussing here (for whatever reason) is just in the dating niche?

So I can't help feeling that his alleged personal wealth/lifestyle- or any alleged discrepancy between the two - is kind of "academic", myself? :confused:

I haven't ever sold $20,000,000-worth of products, myself, and I have a mortgage (if anyone's interested), and I have no interest at all in paying $4000 per month in rent: that makes little sense to me.

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Claude Whitacre 11 years ago

In the book The Millionaire Next Door, the most popular vehicle with millionaires was a red Ford pickup.

I know several millionaires (meaning the net over a million a year), a few have homes that you would call mansions, but more often than not, they live like you and me. A nice home, nice cars, but they don't stand out.

I would listen to any Guru that makes a solid six figures a year, I'm sure I could learn something from them.

Dan Kennedy only takes in a million a year, and he lives in a middle class neighborhood, and his home is like most others.

Info marketers have real ups and downs. More than most businesses. I know he gives solid advice, that's enough for me.
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DubDubDubDot

11 years ago

Originally Posted by Alexa Smith

But I believe the person we're apparently discussing here (for whatever reason) is just in the dating niche?

.... yet he needs 200 employees. What are these people doing all day? I just don't see 200 people worth of labor behind his stuff.

I don't believe for one second that this guy has 200 people working for him. This is out of Frank Kern's book of how to lie about your income without actually lying about your income.

He has also sold sales training before. NLP malarkey or something. That's where people started following him. If he was just some guy selling dating info products nobody would talk about him.

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Alexa Smith Banned 11 years ago

Originally Posted by DubDubDubDot

.... yet he needs 200 employees.

This was "news" to me (if true), I must say!

Originally Posted by DubDubDubDot

I just don't see 200 people worth of labor behind his stuff.

Well, I haven't seen his stuff, or much of his marketing, really, to be honest. But I certainly share your sense of surprise/suspicion about that point.

Originally Posted by DubDubDubDot

I don't believe for one second that this guy has 200 people working for him.

I always knew we'd make a skepchick (or skeptic, anyway) out of you.
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ronrule

11 years ago

Originally Posted by DubDubDubDot

.... yet he needs 200 employees. What are these people doing all day? I just don't see 200 people worth of labor behind his stuff.

I don't believe for one second that this guy has 200 people working for him. This is out of Frank Kern's book of how to lie about your income without actually lying about your income.

He has also sold sales training before. NLP malarkey or something. That's where people started following him. If he was just some guy selling dating info products nobody would talk about him.

You'd be surprised, man. I mean, I don't know anything about this guy or whether he's lying about how many employees he has or not. But the most efficiently run companies aren't doing it with a tiny team. It's one of those things you don't "see" as an Entrepreneur until you actually have to do it.

When I was first putting my org chart and pitch deck together for investors, in my head I had a five person team. By the time I actually finished it, it was 17 people - and by the end of year one it was 30.

What Entrepreneurs forget are all of the middle positions. You start with a very narrow focus... your core team, all wearing multiple hats. But as you grow, you realize how inefficient that is and you start separating the roles, some of which will be handled by multiple people. That leads to having to hire managers, an HR department, etc. And when all of your managers are reporting to you, you're overwhelmed so you bring on a couple of VP's or Directors so you don't have to make 100% of the decisions yourself.

If you're getting a ton of sales, it can grow quick. I have a harder time believing a company doing $20 million a year could be run efficiently with less than 100 employees. I mean jeeze, if you have a million customers just the number of emails you potentially have to reply to is a 20 person job.

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LarryC

11 years ago

<< The apartment Eben rents costs about $4,000 a month. Not very much.>>

I think you must watch too much TV, especially shows like Lifestyles of the Rich and Famous. There's no requirement that everyone who is successful has to live in a huge mansion. Personally, I'd prefer to live in a smaller space no matter how much money I had. Besides, for most people, $4,000 per month is still a lot to pay for rent.

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svedski

11 years ago

Larry, any sane person who had hundreds of millions of dollars would rather live in a mansion or in a castle. Not in some shitty middle-class apartment like some blue collar worker. Or maybe Eben is different I don't know.

Ingvar Kamprad (the Swedish guy who started IKEA) has a net worth of $50+ billion and drives an old Volvo 240 which he bought second-hand.

Personally, I don't understand that mindset.

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LarryC

11 years ago

Originally Posted by svedski

Larry, any sane person who had hundreds of millions of dollars would rather live in a mansion or in a castle. Not in some shitty middle-class apartment like some blue collar worker. Or maybe Eben is different I don't know.

Ingvar Kamprad (the Swedish guy who started IKEA) has a net worth of $50+ billion and drives an old Volvo 240 which he bought second-hand.

Personally, I don't understand that mindset.

That's your definition of sane, not everyone's. First of all, some people prefer to live simply. Secondly, a $4,000 month apartment in Santa Monica is hardly blue collar.

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MissTerraK 11 years ago

We have a friend who races dragsters with hubby. He hit the lottery 2 times for 100s of millions.

He still lives in the same house he did when he worked in the shop. He still wears wrangler jeans and black Harley Davidson t-shirts and boots. He still drives an old Ford SUV although he does have a Corvette as well. Not a Lamborghini or more expensive car. He still loves to work on motors in his garage and is quite often seen with grease underneath his fingernails.

He has made many investments and has profited greatly from them as well but you would never know he was a multimillionaire if you didn't know him personally. Not everyone's dream is to live in a mansion and be featured on Lifestyles of The Rich and Famous.

Some people are thoroughly content with the simple things in life.

Terra
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MikeAmbrosio

11 years ago

Originally Posted by svedski

Larry, any sane person who had hundreds of millions of dollars would rather live in a mansion or in a castle. Not in some shitty middle-class apartment like some blue collar worker. Or maybe Eben is different I don't know.

Ingvar Kamprad (the Swedish guy who started IKEA) has a net worth of $50+ billion and drives an old Volvo 240 which he bought second-hand.

Personally, I don't understand that mindset.

Some were raised middle or perhaps lower middle class - or even poor. They learned to work hard and save. Then they find their way and get rich.

Some do like you suggest and spend. Many of them end up broke. Some TRY the millionaire lifestyle and find they are not very comfortable. Some are simply used to living a certain way and don't want to change.

Categorizing all rich people the way you did is naive. Years ago I worked for a company that sold equipment. There was this old guy who used to commute by bus from his brownstone apartment in Brooklyn to NJ to work every day. Dressed conservatively, etc. I learned he was one of the founders and had "more money than God" (as they used to say).

While I am NOT rich, I was raised in a poverty-level family. Once I had money to spend, I went through a small extravagant period. But mostly I live middle class, even though I can afford more.

To each his own.

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HeySal

11 years ago

Originally Posted by svedski

Larry, any sane person who had hundreds of millions of dollars would rather live in a mansion or in a castle. Not in some shitty middle-class apartment like some blue collar worker. Or maybe Eben is different I don't know.

Ingvar Kamprad (the Swedish guy who started IKEA) has a net worth of $50+ billion and drives an old Volvo 240 which he bought second-hand.

Personally, I don't understand that mindset.

First of all - I have no idea where you are from, but $4,000 a month is a ludicrously high price for an apartment. It is NOT a middle class wage that pays that much for an apartment.

Second -- some people LIKE apartments. SOME even like apartments in BIG cities. Rich people often choose to live that way. Rich or poor - I would HATE that.

Some people really don't base their life on material stuff. The things that make them happy don't revolve around money. Why the hell would someone buy a Bently, for example - if what they like to do is go to the mountains and 4Wheel it in a jeep? If someone dropped a Bil $$ in my lap -- I'd still drive a jeep. I'd still want to live in a log cabin out a ways from cities.

I would be much more interested to know what the man's favorite charities and causes are that he gives to rather than how he chooses to decorate his private life.

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ronrule

11 years ago

Originally Posted by HeySal

...if what they like to do is go to the mountains and 4Wheel it in a jeep? If someone dropped a Bil $$ in my lap -- I'd still drive a jeep. I'd still want to live in a log cabin out a ways from cities.

Now you're speaking my language.

Granted I've got a couple "show" cars in the garage, but you're more likely to see me around town in this:

(funny side note ... this pic was taken at the exact moment I broke my front axle. Good times).

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HeySal

11 years ago

Originally Posted by ronrule

Now you're speaking my language.

Granted I've got a couple "show" cars in the garage, but you're more likely to see me around town in this:

(funny side note ... this pic was taken at the exact moment I broke my front axle. Good times).

Oh yeah. That's what I call livin' - I don't care what your monetary value. LMAO. It takes severe willpower to break the axle in a jeep. My admiration and respect, Ron. Looks like you came about a foot to the left from getting over that thing safe.

Well, being a guy, I guess you like your toys. If I had the bucks, I might have a second backup Jeep just in case the first one went down, but I'm not all that into cars just because they are kewl. When I was younger I liked my sportscars - and had a lead foot on the gas pedal, but since I've discovered 4WD, I can't figure out what I'd do with something that has barely enough clearance to get over a speed bump. It would drive me nuts to see a road off a main road somewhere and not be able to drive down it if I had the urge to find out where it goes.

My last car that wasn't 4WD was a 98 Grand Am. It died of a hole in the oil pan - the light didn't come on until the thing was basically DOA so I didn't know until I turned the key off (which was as soon as the light came on) that I had killed the car. It was the last CAR I ever owned and no amount of money will ever change that.

I don't understand the mind set that you HAVE to have status quos stuff just because you have money. Your finances aren't anyone else's business it's really damned shallow to buy stuff just to show off the fact you have a large wallet.

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lcombs

11 years ago

Originally Posted by svedski

Larry, any sane person who had hundreds of millions of dollars would rather live in a mansion or in a castle. Not in some shitty middle-class apartment like some blue collar worker. Or maybe Eben is different I don't know.

Ingvar Kamprad (the Swedish guy who started IKEA) has a net worth of $50+ billion and drives an old Volvo 240 which he bought second-hand.

Personally, I don't understand that mindset.

Well, I guess it's official then.
I AM truly insane.

I have absolutely no desire to live in mansion/hotel.
Nor a castle.
5,000 S/F would be more than enough.
And I see no reason to have more than 3 maybe 4 bathrooms.

I don't want a staff at my beck and call.

Now, a Shelby Cobra, Porsche 911 Carrera, Lamborghini Aventador?
All I need is a 1,000 sq. ft. garage.

But, as far Eben goes....
How do you know that's his first home and not a California get-away?

And, I sense a bit of pompousness toward "blue collar" workers living in some shitty apartment.
Apparently, you're pretty shallow and self absorbed.

My father started working in an Eastern Ky. coal mine when he was 15.
His younger brother was killed in a cave-in.
He made his way to Hamilton, Ohio. Just north of Cincinnati,where he got a job in a local paper mill.
He worked 45 years on swing shift.
I was raised on blue collar wages.
Now, I'm semi-retired in Panama City Beach, Fla.
My brother is a professional outdoors writer, appearing on many TV programs, author of several books, and his own radio show, The Big Outdoors, on WLW 700.
:p

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MikeAmbrosio

11 years ago

Originally Posted by lcombs

Well, I guess it's official then.
I AM truly insane.

I have absolutely no desire to live in mansion/hotel.
Nor a castle.
5,000 S/F would be more than enough.
And I see no reason to have more than 3 maybe 4 bathrooms.

I don't want a staff at my beck and call.

Now, a Shelby Cobra, Porsche 911 Carrera, Lamborghini Aventador?
All I need is a 1,000 sq. ft. garage.

But, as far Eben goes....
How do you know that's his first home and not a California get-away?

And, I sense a bit of pompousness toward "blue collar" workers living in some shitty apartment.
Apparently, you're pretty shallow and self absorbed.

My father started working in an Eastern Ky. coal mine when he was 15.
His younger brother was killed in a cave-in.
He made his way to Hamilton, Ohio. Just north of Cincinnati,where he got a job in a local paper mill.
He worked 45 years on swing shift.
I was raised on blue collar wages.
Now, I'm semi-retired in Panama City Beach, Fla.
My brother is a professional outdoors writer, appearing on many TV programs, author of several books, and his own radio show, The Big Outdoors, on WLW 700.
:p

We have 4 bathrooms. And the best part?

One is ALL MINE!!!!!!!

I even get to leave the seat up with no repercussions. LOL

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ronrule

11 years ago

I don't think their estimate is accurate. Here's why...

A typical CEO salary for a $20 million company is in the $500k range.

He said in 2007 he employed 200 people... let's assume the average salary of those working for him is the same as the U.S. median income, $51,404. Some will be higher, some will be lower, but it's a fair estimate. Anyway, 200 employees @ $51,404 brings his payroll to $10.2 million per year ... before he pays himself. Add another $3-4 million to that with federal matching, health insurance, and other costs associated with having employees.

Overhead for a staff that high would mean big office (30,000 square feet would do it), insanely high power bills, costs to furnish and maintain it, etc. Add another $600k or so for that.

At this point we've spent $15 million and he still hasn't paid himself. That doesn't account for marketing, etc.

Now remember, for a private company and private citizen, net worth estimates can only be made based on known variables like the value of real estate, and industry averages (what a $20 million company normally would pay its CEO under similar conditions).

Since he's not putting his tax returns on the Internet, they're "guessing" based on the value of known assets - and since he seems to prefer an "ergo" lifestyle (which the vast MAJORITY of millionaires do), I would guess his actual net worth including cash on hand is probably at least 5 times that.

There's a guy I know pretty well, lives in a regular house in a regular neighborhood ... average income is in the $130k range. Drives a normal car - it's a Mercedes E class, but we're still only talking a $55k car, not some $500k exotic. Mows his own lawn. His net worth is about $700 million.

Smart millionaires keep a low profile.

I asked him once years ago how he became so wealthy. He said "Stay out of debt, buy only what you need, and re-invest everything you make into your business. The more money people see that you have, the more lengths they'll go to get their hands on it and you'll never know who your real friends are."

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Brian John

11 years ago

Originally Posted by ronrule

I asked him once how he became so wealthy. He said "Stay out of debt, buy only what you need, and re-invest everything you make into your business. The more money people see that you have, the more lengths they'll go to get their hands on it and you'll never know who your real friends are."

excellent advice^

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thunderbird

11 years ago

$4000 is "not very much"? You must be pretty loaded yourself to have such a skewed perspective. "Poor" people cannot afford a rent that high.

Anyway, your reasoning is flawed. I know a multi-millionaire who lives in the same humble house he's always lived in, even though he rents out chunks of prime urban real estate. His wife still works as a cleaning lady, the job she took on when they first immigrated to Canada as dirt-poor immigrants. His friends are the same friends he always had since coming to Canada.

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DubDubDubDot

11 years ago

There are definitely a lot of people in this world living below their means. What's amusing is that 100% of the big info product gurus are living below their means. You'd think one or two of these guys would dip into their $100 Million bank account and spend what they can afford to spend.

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Horny Devil

Banned 11 years ago

Originally Posted by DubDubDubDot

There are definitely a lot of people in this world living below their means. What's amusing is that 100% of the big info product gurus are living below their means. You'd think one or two of these guys would dip into their $100 Million bank account and spend what they can afford to spend.

Amusing to you maybe. And what part of thin air did you pluck your 100% statistic from because it's total hogwash.

What successful people do with their money is entirely up to them, and I'm surprised you haven't got a thousand things better to do than muse over why they don't spend more money.

It's been pointed out already by several replies in this thread that not all people have that type of mindset, and money doesn't change a person who's got their head screwed on right and is content with their lot.

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seasoned

11 years ago

Originally Posted by svedski

I know he claims to sell over $20 million of information products each year. However, he lives in a rented apartment in south Santa Monica. I know the building where he lives because I was there looking at apartments myself a while ago. The apartment Eben rents costs about $4,000 a month. Not very much. It's upper middle class at best.

And even if he sells for $20 million, he might just only make $500k out of that. I don't know.

According to this site he only has a net worth of $1.25 million. I don't believe that number to be accurate though, he must have more than that.

David Deangelo Net Worth | Celebrity Net Worth

FIRST of all, I don't know eben pagen. MOST people that claim to make a fortune DON'T! SERIOUSLY, I have known enough that did.

NOW, I DID know one guy that was QUITE poor. He delivered pizzas for a living. SERIOUSLY! He told me that he was a black sheep(HIGHLY LIKELY), and that his father was rich. I saw the "apartment his father lived in, because this poor guy let me in. I DOUBT his father owned it, and he said it cost ONLY about $20,000 a month. Personally, I wouldn't like being on the top of such a large apartment building. It was in a VERY busy, and expensive part of town, on a par with Beverly hills. But HEY, the address is nice, like beverly hills, the lobby was SWANKY!!!!! It had a doorman, etc... and the idea of a penthouse, where you could see the whole city, etc... is nice.

As for $4000/month for an apartment in the us being middle class? Are you NUTS!?!?!?!!??

$4000*12=$48,000 THAT is over the average wage for the US!
+$1000 or more for basic insurance=$49,000
+$2000 for a basic car=$51,000
+$2000 for car insurance=$53,000
+$4800 for food gas, etc...=$57,800
+50% for tax=86,700

OK, maybe middle middle class, but that is BASIC! Do you REALLY think he would pay SO much for an apartment if it were 50% of his income?

Still, HEY! I bought a home. Last year, maintenance and repairs cost me about $12,000! That is JUST for maintenance and repairs. If I had an apartment, that wouldn't be an expense. BTW I am paying LESS than $2000/month for a home. And it is over 4000sf!

Small Apartments in the US are likely around $500-$1000/month. GRANTED new york, beverly hills, etc... may be more expensive, but they are the exception.

Steve

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svedski

11 years ago

Originally Posted by seasoned

FIRST of all, I don't know eben pagen. MOST people that claim to make a fortune DON'T! SERIOUSLY, I have known enough that did.

NOW, I DID know one guy that was QUITE poor. He delivered pizzas for a living. SERIOUSLY! He told me that he was a black sheep(HIGHLY LIKELY), and that his father was rich. I saw the "apartment his father lived in, because this poor guy let me in. I DOUBT his father owned it, and he said it cost ONLY about $20,000 a month. Personally, I wouldn't like being on the top of such a large apartment building. It was in a VERY busy, and expensive part of town, on a par with Beverly hills. But HEY, the address is nice, like beverly hills, the lobby was SWANKY!!!!! It had a doorman, etc... and the idea of a penthouse, where you could see the whole city, etc... is nice.

As for $4000/month for an apartment in the us being middle class? Are you NUTS!?!?!?!!??

$4000*12=$48,000 THAT is over the average wage for the US!
+$1000 or more for basic insurance=$49,000
+$2000 for a basic car=$51,000
+$2000 for car insurance=$53,000
+$4800 for food gas, etc...=$57,800
+50% for tax=86,700

OK, maybe middle middle class, but that is BASIC! Do you REALLY think he would pay SO much for an apartment if it were 50% of his income?

Still, HEY! I bought a home. Last year, maintenance and repairs cost me about $12,000! That is JUST for maintenance and repairs. If I had an apartment, that wouldn't be an expense. BTW I am paying LESS than $2000/month for a home. And it is over 4000sf!

Small Apartments in the US are likely around $500-$1000/month. GRANTED new york, beverly hills, etc... may be more expensive, but they are the exception.

Steve

Well we're talking about LA here, and good luck finding an apartment for $500-1000/month. Santa Monica is pretty expensive, and apartments range from $1200 (the really shitty ones, next door to Section 8 buildings) to $10,000.

$4000 is good, maybe a bit over middle class. I'd say upper middle class, but not more.

This is where he lives by the way:

The Shores, Luxury Beachfront Apartment Homes, Santa Monica - Trulia

(Actually, it was cheaper than I thought. It is possible to move in there for just $2900. Now tell me that isn't middle class?) If I had so much money, I would never live around so many "poor" people. But hey, to each and his own.

P.S. I would personally love to have an apartment in one of those buildings. But hey, I'm not a gazillionaire. If I were, I'd own a castle somewhere with my own private beach and some slaves.

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seasoned

11 years ago

Originally Posted by svedski

Well we're talking about LA here, and good luck finding an apartment for $500-1000/month. Santa Monica is pretty expensive, and apartments range from $1200 (the really shitty ones, next door to Section 8 buildings) to $10,000.

Well, I haven't lived there for about 13 years, but you used to be able to get a nice place in like sherman oaks for less than $1000. I just checked it out. GUYS, as I said. ******INFLATION*******! YIKES!

$4000 is good, maybe a bit over middle class. I'd say upper middle class, but not more.

This is where he lives by the way:

The Shores, Luxury Beachfront Apartment Homes, Santa Monica - Trulia

(Actually, it was cheaper than I thought. It is possible to move in there for just $2900. Now tell me that isn't middle class?) If I had so much money, I would never live around so many "poor" people. But hey, to each and his own.

P.S. I would personally love to have an apartment in one of those buildings. But hey, I'm not a gazillionaire. If I were, I'd own a castle somewhere with my own private beach and some slaves.

But HEY, that is ANOTHER consideration I made in my move. I hoped that inflation would one day make it worth it.

BTW it says: $2,974 – $6,625 It sounds like a nice place if you like the beach and all, and the price includes FULL maintenance(MANDATED BY LAW)!

When homes there were selling for about $800/month, it JUST so happens I was looking at rolex watches! I liked the style and idea, and I needed a watch. It costs a paltry $14,000! OK, I found a new one for only $28,165.00USD!

I guess if he had THAT cheap watch, $28165, and the home, for $48000 and a Bentley flying spur for $184,200 and some of those bally shoes: $339, etc.... he would STILL seem a PAUPER!

Frankly, I would think it is PRETENTIOUS, at best! But the rolex I am talking about is really a rather cheap high end luxury watch. Rolex isn't even the highest brand. The SAME could be said of bentley! The SAME could be said of bally's! But over $184K for a CAR!?!?!?!? Bear in mind that, at this point, the LOW END rolls royces probably cost more than that!

Steve

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Horny Devil

Banned 11 years ago

Originally Posted by svedski

If I had so much money, I would never live around so many "poor" people.

But you don't, so you do.

Originally Posted by svedski

I would personally love to have an apartment in one of those buildings. But hey, I'm not a gazillionaire. If I were, I'd own a castle somewhere with my own private beach and some slaves.

Better a "gazillionaire" than a gimp, huh.

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HeySal

11 years ago

So you find people offensive based on their income? Where are you from that you find the idea of "slaves" not completely despicable?

If your whole idea of a good life is to have enough cash to show off your wealth and "own" other people, that doesn't say much for you at all. That is a very hard world-view to respect. I'm really sorry for you that you are so terribly arrogant and intellectually vapid.

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Sal
When the Roads and Paths end, learn to guide yourself through the wilderness
Beyond the Path

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yukon

Banned 11 years ago

Weird thread.

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bizgrower

11 years ago

Eben has gone from the dating niche to the high end coaching niche.
His financial assets could be in his corporation(s) and not show
in his personal assets. $4000/mo rent is a lot of money down the drain.

Sam Walton - Wal-Mart founder - drove an old pick up truck (78 Ford - I think).
(Lambo's are probably not real practical in Bentonville, Arkansas.)

Warren Buffet - plain Jane house and car.

It seems to me that the people who know what bad investments/money
drains fancy cars or huge mansions are don't buy them. (You have to
factor in such things as maintenance and insurance and utilities.) And,
high end cars and homes are not easy to sell if you find yourself needing cash.

Some CEOs, pro athletes, entertainers seem to be the people who buy
the flashy stuff, and often end up filing bankruptcy after their source of
cash dries up and they did not invest properly.

I was in the mortgage business and most of the people I dealt with
spent all they earned. One prospect made $9k/mo and bragged
about how well he managed his money because he had a high credit
score. Yet, he had three mortgages on his house, a new
Chevy Suburban purchased via the third mortgage, and nothing in
the bank for emergencies, or sending his teenagers to college.
Another was making $300K per year and had just filed bankruptcy
because the man had lost his $240K per year executive job. They
could not keep up on the maintenance on their house in Florida,
so it was destroyed by the rain because they had major roof leaks.

Easy to put on a good looking, false front.

Dan

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"If you think you're the smartest person in the room, then you're probably in the wrong room."

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seasoned

11 years ago

That is ANOTHER thing! The more you make, the more you have to protect! You buy a little $10K home, someone trips, and they could sue for MILLIONS!!!!! IMAGINE the insurance premiums! You live in an apartment, and someone gets their leg cut off, they can't sue you for a PENNY! You don't own the property! So it is almost like getting insurance for FREE!

Steve

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waterotter

11 years ago

True story. I knew an elderly gentleman who claimed to be homeless. All he had was his old beat up car, the ones folks were driving in the early seventies.

He befriended the owner of a campground. The owner, being a considerate ole lad, offered him a trailer to live in that would suffice for three seasons of the year. The elderly man declined and was quite content to stay at the trailer park, but sleep in his car.

Folks got to know him, and it wasn't long until everyone was making up an extra plate of food at mealtimes and delivering it to him.

Long story short, he was found dead in his car one morning. Nobody knows why, but investigators opened the trunk of his car. Surprise, surprise......the trunk contained nothing but large bills.

Upon further investigation, it came to light that the ole guy was a multi-millionaire living as a bum.

As for the owner of the campground, he inherited the ole guys entire estate.

^^^This happened not far from where I live.

This guy isn't the first one with money to live this lifestyle, they're everywhere.

Never judge a book by it's cover, nor walk a mile in someone's shoes, you know nothing about.

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bizgrower

11 years ago

Originally Posted by waterotter

True story. I knew an elderly gentleman who claimed to be homeless. All he had was his old beat up car, the ones folks were driving in the early seventies.

He befriended the owner of a campground. The owner, being a considerate ole lad, offered him a trailer to live in that would suffice for three seasons of the year. The elderly man declined and was quite content to stay at the trailer park, but sleep in his car.

Folks got to know him, and it wasn't long until everyone was making up an extra plate of food at mealtimes and delivering it to him.

Long story short, he was found dead in his car one morning. Nobody knows why, but investigators opened the trunk of his car. Surprise, surprise......the trunk contained nothing but large bills.

Upon further investigation, it came to light that the ole guy was a multi-millionaire living as a bum.

As for the owner of the campground, he inherited the ole guys entire estate.

^^^This happened not far from where I live.

This guy isn't the first one with money to live this lifestyle, they're everywhere.

Never judge a book by it's cover, nor walk a mile in someone's shoes, you know nothing about.

We used to have "Walter" in my neighborhood. Family oil money.
Homeless, but always had really nice boots. I don't know anyone
who did not give him a ride to the Post Office so he could sleep.

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"If you think you're the smartest person in the room, then you're probably in the wrong room."

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DubDubDubDot

11 years ago

I've been doing some research for my own amusement. Here are some well known internet companies and their number of employees. Info taken from their Wikipedia pages.

Facebook 5,299 (Jun 2013)
Zynga 2,846 (Dec 2011)
Mozilla, 600 (Sep 2011)
Demand Media, 600 (2011)
Eben Pagen, 200
MySpace, 200 (June 2011)
Tumblr, 192 (Oct 2013)
DailyMotion, 165 (Nov 2012)
Pinterest, 140
TheOnion, 70
PlentyOfFish, 66 (Aug 2012)
Reddit, 28
Digg, 11 (2012)

*Pagen's not verified.

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lcombs

11 years ago

Eben was a successful IMer long before he started rubbing elbows with Frank Kern, et al.

He is, first and for-most, a businessman.

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https://www.facebook.com/pages/Fresh...55326481208883

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KingOfContentMarketing

11 years ago

Originally Posted by svedski

I know he claims to sell over $20 million of information products each year. However, he lives in a rented apartment in south Santa Monica. I know the building where he lives because I was there looking at apartments myself a while ago. The apartment Eben rents costs about $4,000 a month. Not very much. It's upper middle class at best.

And even if he sells for $20 million, he might just only make $500k out of that. I don't know.

According to this site he only has a net worth of $1.25 million. I don't believe that number to be accurate though, he must have more than that.

David Deangelo Net Worth | Celebrity Net Worth

Originally Posted by svedski

Well we're talking about LA here, and good luck finding an apartment for $500-1000/month. Santa Monica is pretty expensive, and apartments range from $1200 (the really shitty ones, next door to Section 8 buildings) to $10,000.

$4000 is good, maybe a bit over middle class. I'd say upper middle class, but not more.

This is where he lives by the way:

The Shores, Luxury Beachfront Apartment Homes, Santa Monica - Trulia

(Actually, it was cheaper than I thought. It is possible to move in there for just $2900. Now tell me that isn't middle class?) If I had so much money, I would never live around so many "poor" people. But hey, to each and his own.

P.S. I would personally love to have an apartment in one of those buildings. But hey, I'm not a gazillionaire. If I were, I'd own a castle somewhere with my own private beach and some slaves.

OK, I'll bite. How do you know what he pays for rent and where he lives?

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Marketing is not a battle of products. It is a battle of perceptions.
- Jack Trout

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HeySal

11 years ago

When I was a kid it was Mrs. Boutell (sp?) - wife of the Boutell trucking Corporation. She used to dress so shabby that when we went shopping with her the clerks just assumed she couldn't buy so completely ignored her. She saw many of those rude little people fired for treating her badly. It was kinda funny. A clerk would be rude and she'd ask for the manager. The manager would come walking up with a big self-satisfied smirk until she stuck her hand out and introduced herself. Her husband commanded a LOT of respect in that region.

Also, I had a boss get in my face for serving two guys in a Colorado gaming town. They were trying to get him to buy them a drink - arguing with each other who'd pay -- and I offered them the first one on the house. They looked like they hadn't a dime between them. The boss called me off and scolded me and I just told the city slicker to watch and learn. When they got up to leave, they dropped me a C note and told me they'd be back if I was going to be there. Those two "bums I shouldn't serve" and "was crazy to offer a drink on the house" owned Loveland Ski area.

Not everyone cares what people think of them. As long as they have the life that makes them comfortable, why should anyone else object to how they live? Why would anyone treat someone badly or look down on them just because they don't appear to fart hundred dollar bills? I met many a mountain hermit in Colorado that had just enough to survive, but were very rich in stories of the mountains - had educations, loved classic literature, and held a very mean lean conversation that could keep you staring at the cinder block by the fire on cold nights for hours. I find it absolutely sad that money has come to mean so damned much for people. I find it disgusting that some will dig around to find out how much someone else might have. Really. What happened to minding your own business?

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Sal
When the Roads and Paths end, learn to guide yourself through the wilderness
Beyond the Path

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SashaLee

11 years ago

The OP definitely needs to extract his/her head from his/her posterior. So a fella looks at an apartment in Los Angeles and you assume that's his only residence? It's quite possibly the 20th apartment he has in as many cities. Or maybe it's the only one he has.

Either way you don't know, because you'll never get to join the same circles as him with the attitude you have.

Jealousy gets you nowhere, and you're already there.

All the best,

Sasha.

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Eben Pagen is poor?

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