Why Nic Cage Went Broke
2023 ж. 7 Мам.
60 318 Рет қаралды
Nic Cage shared the reason why he went broke in the 2008 real estate crash during a recent interview. #shorts
Nic Cage shared the reason why he went broke in the 2008 real estate crash during a recent interview. #shorts
I remember when he went on Howard Stern's TV show and crashed the Chad Kroger interview when Spider-Man came out and they had the #1 song for it. But anyways, he had tons of memorabilia especially comic books and figurines of Superman. He said he sold it all because he realized that when you own those things, they own you. So he was switching to real estate because that always appreciated. His problem with the castles was that they needed a lot of work. He was deep in debt on them. The island he wanted to develop into a resort, but he couldn't get approval simce it was considered a high impact hurricane zone. If he had bought an island 23 miles north or south, he would have been out of it. He also was partner on an island in Indonesia. But his partners backed out and he kept buying their shares. They had a hotel on it, but it wasn't a glamorous place and it lost money unless they were completely full. I think his money manager was a moron
I was confused why an A list actor like Nic Cage plays in movies like renfield. Now, I know. He needs money.
To have THAT much money and not play it safe is insane to me
man if i had 150 million in the bank i’m buying a castle too !
A former coworker of mine worked at BAC when they foreclosed on one of Cage's houses. He had a couple funny stories about it.
He's a good guy. Donated his car to an automotive school after he visited and was impressed by the facility!!!! Long Live the "Lord Of War!"
Bro is the dirt blocks brother steve
He didn’t turn the castles into tourist attractions or expensive resorts or places to stay while he intended to flip them?! And he was going to flip an Irish castle?
When you have 150 million in cash, why bother investing? You already have more than enough money, no need to risk it. Park it in safe accounts making up to 4% interest and enjoy your life.
Its best to get castles with vineyards that make wine.
Make some full videos instead of these
Just think if he would’ve bought 1 normal home for $350k and one Honda accord. Invest the rest in S&P 500. Hed have about $500M now
Honestly don’t matter though. He’s been set for life since before his first acting role
His family was rich?
@@Jykobe491 His uncle is Francis Ford Coppola. He didn’t exactly grow up rich but he had rich family members and also he didn’t have to do much either to get into Hollywood considering his actual last name is Coppola and not Cage.
Cant lie if I get rich I’m buying a castle 🤷🏽♂️
I love me some Nic Cage though lol
And where the cash flow homes now? There are NONE
Olsow on tha oldest glici in tha sistem wen crisis.. but theat hapan in 2009. To rent tha casel etc and hier a propreti manager ti soti for you... Etc .
WE NEED ANOTHER VIDEO ON MR OR🧢NIK HES TAKEN OFF OVER TO SWITZERLAND RUNNING AWAY FROM THE TAXMAN
You should make a video on how you’re going broke…
Well in a recent video of him he was stepping out of a Huracan so he must not be struggling too badly.
No this is why you just budget your money correctly
So he went broke because the IRS stole his money
The IRS steals everyone’s money.
I think that last part was just edited. I don't believe you can get loans from IRS, so I don't know you can can pay them back. If that makes sense.
Buying any properties is a sinkng ship. Keep your money
Bro, he has a T-Rex bones too. Look it up.
He bought a Tarbosaurus fossil from Mongolia but you can’t take fossils out of the country since they belong to the government
No he didnt invest in realesate he bought personal residences he saw johnny deep and thought he was him
As well as a lot of athele's also get used to a party with his posse life style that when they stop playing keep doing and end up BROKE
And now he makes movies searching for his truffle pig lmfao
Or if he would have held and not panic sold he’d have been fine too, too many panic sellers…everyone wants to make 100000423040234023MM on every transaction in 6 months, it just doesn’t work like that sometimes
So true ... who in their right mind sells during a market crash... they don't even have a common sense
@@polomark2045 real estate speculators vs real estate investors
No, he likely just wasn’t in a position to be able to wait it out. It’s usually not that simple
.....Read he bought real Dinosaur skeleton display too. Lol. From a museum.
Wrong, you bought niche properties in places where real estate actually crashes. You know which real estate market doesn’t crash like the U.S? Canada, look at the last 50 years. Easy money, and if you can’t sell mutli-family dwellings, you can air BnB and or rent it for short/ long term leases and rents keep going up in all Canadian primary markets.
Should have bought apartment's instead of mansions and castles
You're wrong. It's alledged Cage bought $156m worth of octopus'.
But is he Actually Broke? pretty sure he is just fine.
Or just buy properties you can afford
Are you a sell-out Spencer? Can you be bought? Just curious thx
Thought this dude got cancelled
Scammer says what ?
Hey don’t you speak of nic cage that way he never went broke, just owed some people a couple of millions lol
Am I richer than nic cage
“Way less stress buying properties that cash flow” OH REALLY??! lmao wait till you have shareholders to answer to.
You don’t need shareholders to buy up houses lol
1st can you pin
yeah pin him
I unintentionally beat you
@@joshuad1716 ahh lol yr right
Joe Rogan show will get him back on the screen $$$ cant wait to see what 🎦 🎉