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Adele took out $38M mortgage on $58M mansion


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Teletubby

Adele purchased a mansion in the exclusive Beverly Park neighborhood of Los Angeles in February from Sylvester Stallone for $58million

She took out a $37.7 million mortgage to fund the estate that has eight bedrooms and 12 bathrooms.

The deed, obtained by The Post, shows that the “Easy on Me” singer took out the hefty loan from City National Bank on Jan. 10, 2022.
“Borrower has promised to pay this debt in regular periodic payments and to pay the debt in full not later than March 1, 2052,” the deed states.

It's estimated Adele is paying $227,000 per month - including property taxes and a five percent interest rate.

Adele will likely have no problem paying it off if her postponed Las Vegas residency at the Colosseum in Caesars Palace relaunches in November as planned.
She is set to make more than $1 million per show, and the residency is expected to last for three months, meaning she would rake in at least $48 million in that short period of time.

Last October, Adele told Vogue that she couldn't afford real estate in her hometown of London, saying: 'The kind of house I have in LA I could never afford in London. Ever. I looked at houses. It's like hundreds of millions of pounds. I don't have that much money at all.'
Adele has three mansions in the Hidden Valley in Los Angeles totalling $30 million.

source source

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I can never understand how people can live in mansions. The killer could be hiding in one of the guest rooms and you wouldn't even know 

if I had that money I would buy those gorgeous abandoned castles in Europe and renovate them a bit   like this one: 

I honestly didn’t realise rich people took out mortgages - you’d think they’d just buy something with cash.

badfaith

I can never understand how people can live in mansions. The killer could be hiding in one of the guest rooms and you wouldn't even know :duck:

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robboadam

I honestly didn’t realise rich people took out mortgages - you’d think they’d just buy something with cash.

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boyerased
3 minutes ago, robboadam said:

I honestly didn’t realise rich people took out mortgages - you’d think they’d just buy something with cash.

That’s why they stay rich. Buying cash everything can be unwise, from cash management to taxations. 

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Auralegends
18 minutes ago, robboadam said:

I honestly didn’t realise rich people took out mortgages - you’d think they’d just buy something with cash.

It's better to get a mortgage and invest the cash instead of using your cash for the mansion. 

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dit

if I had that money I would buy those gorgeous abandoned castles in Europe and renovate them a bit :bradley: 

like this one: 

setoncastle-111-1596811565.jpg?crop=1.00

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HiddenWeirdo
11 minutes ago, Auralegends said:

It's better to get a mortgage and invest the cash instead of using your cash for the mansion. 

But she's Adele, investing it into a mansion makes sense as she can resell it for double the price within a short time. 
A mortgage means paying fees and taxes every month. 

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Mother of Puppies
43 minutes ago, robboadam said:

I honestly didn’t realise rich people took out mortgages - you’d think they’d just buy something with cash.

That’s what I thought too :ohwell: cuz she has to pay interest too :triggered: but I guess it’s better from a „tax point of view“

Edited by Mother of Puppies
You can call me Lady MOP
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TortureMeOnReplay
8 minutes ago, HiddenWeirdo said:

But she's Adele, investing it into a mansion makes sense as she can resell it for double the price within a short time. 
A mortgage means paying fees and taxes every month. 

She'll still profit off it if she decides to sell it. The S&P500 has returned like 10% annually since it's inception. So if she drops $37.7 million she can't earn interest. But if she takes out a mortgage and puts her saved money into stocks, she'd be saving an astronomical amount of money. 

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Adrenaliner

I mean if you don't have 5 kids who needs a 8-bedroom house? :saladga:

Like if I was that rich I would rather buy a penthouse in NYC with a nice view

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Helxig

Okay but the thing I never understand is WHY do 8 bedroom houses have TWELVE bathrooms!! An ensuite in every single bedroom and also 4 more bathrooms elsewhere? Who the **** needs 12 ****ing toilets??? Rich people really do live insane lives. Even if I were a multimillionaire I wouldn't have them build my house with 12 bathrooms that is ridiculous

I'll be myself until they fūcking close the coffin.
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SlaeUrAnus

Imagine having all of those rooms that are not being used :messga: I'd love to be the cleaner. Bet they are stealing a living.

In a world where you could he anything, be kind.
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Scri
51 minutes ago, dit said:

if I had that money I would buy those gorgeous abandoned castles in Europe and renovate them a bit :bradley: 

like this one: 

setoncastle-111-1596811565.jpg?crop=1.00

Oh Scotland! I've lived there (in Edinburgh, not in the Seton Castle:ladyhaha:), lovely memories 

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pussycat

12 bathrooms? Honestly why do they make these big houses? They are too expensive for the ones that would have good use out of them and bought by people that wont use half of it. It doesn't make sense 

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dit
19 minutes ago, Scri said:

Oh Scotland! I've lived there (in Edinburgh, not in the Seton Castle:ladyhaha:), lovely memories 

there are so many pretty castles for sale in Scotland. I've been seriously considering making it a goal of mine to purchase a castle in the countryside of some European country at some point in my life (when I am old and have my money saved). I have seen wonderful castles in France, Spain, across all of UK, Italy etc..for as low as 700k$ which is fabulous and with renovations would be 1 million dollars in total. It seems like a crazy goal but if I set my mind to it maybe I can reach that goal by the time I am in my 60s (I hope :messga: ). I'm really passionate about history and preserving gorgeous architecture plus its nice to have a big goal to work towards your entire life I guess right?

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