Craigslist Gold Digger…A Good Investment?

Posted on October 10, 2007 | by Denny Oh

As you know, the Internet has made pretty much anything possible. Finding a job, selling your car, learning about remote destinationswell, you get the point. And now, thanks to a New York woman, we can now add, finding a rich husband to the list. Recently, a 25 year old New York woman, posted an add on Craigslist (unfortunately she has since taken it off, but heres a link to what she posted), in an attempt to find a sugar daddy “ a rich husband – who makes over $500K a year.


The anonymous woman argued that a million a year is middle class in New York City, so I don’t think I’m overreaching at all. Whether thats the case or not, who places an ad for a husband? Sure there are online dating services and things like that, but who skips all of that and tries to go straight to the finish line?

Luckily, for us that is, someone found the self-proclaimed superficial (as if we couldnt figure that out on our own) womans post and offered his take on the situation. The NYC banker who responded and supposedly met the womans requirements, told the lady that her proposal was plain and simple a crappy business deal. He argued that even though this woman described herself as spectacularly beautiful, that

“Your looks will fade and my money will likely continue into perpetuity … in fact, it is very likely that my income increases but it is an absolute certainty that you won’t be getting any more beautiful! So, in economic terms you are a depreciating asset and I am an earning assetLet me explain, you’re 25 now and will likely stay pretty hot for the next 5 years, but less so each year. Then the fade begins in earnest. By 35 stick a fork in you!aging women

Harsh, but probably pretty accurate. The mystery banker continued and came to the conclusion that, “It doesn’t make good business sense to buy you (which is what you’re asking) so I’d rather lease,” he said.
As I read this in today edition of Reuters, I couldnt help but agree more with this guy. Setting the moral issues aside, this banker was dead on in his analysis. Why would he buy an investment that would inevitably lose its value?
Then I thought, about how he compared this woman to a piece of real estate. While some of you might think his analysis was bit cruel, I wish I could meet the guy and buy him a beer. Why would you buy something that you were positive would lose its value? Or rather, why wouldnt you invest in something that you were certain would increase in value?
If I were to tell you that you could buy a home today, for $700,000 and that itd one day be worth $1 million dollars, would you buy it? QuoteOr would you continue to rent the place youre in now and wait until that $700K home was worth $1 million to buy it? My opinion is that buyers will have the best opportunities to buy from now, through around the end of next year. If you think nows a bad time to buy, try asking your neighbors who are trying to sell, what they think. Obviously no one can say with certainty when the market will turn, but is there anyone out there who really thinks San Diego wont be worth more down the road, than it is today?

If you can find me that person, Ill find them a 25 year old spectacularly beautiful wife.

To get a free list of homes for sale in San Diego, or for any other real estate related info, please call Denny Oh at 858-243-2092, or email me.

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19 Comments

  1. Hahahaha… That is hilarious. So are you saying I should be buying a house and leasing my girlfriend? Brilliant!

  2. Denny Oh says:

    Thanks Jason – I’m not sure that’s exactly what I meant, but if you want to buy a house let me know. Just make sure your girlfriend doesn’t read your work.

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  4. Interesting piece. I agree that a homebuyer should buy a house now rather than wait until prices appreciate again….BUT, maybe they can get a real deal on an older house. I tend to love houses with character, which can rarely be found with a younger model.

    Call me crazy too, but speaking from a woman’s point of view, there are things about myself I find more attractive then when I was in my 20’s. Things I didn’t have at 20 years of age. I would say that my value is appreciating.

    Rebecca D. Levinson-Connect2Agent

  5. Denny Oh says:

    Thanks for the feedback Rebecca. I can tell this topic could get me into a lot of trouble, so this is all I have to say…age isn’t necessarily the best barometer for beauty. As you pointed out, some things definitely get better with age and well, I’ll leave it at that.

    As for the homes, I agree, an older house can offer a lot of value and character. Just make sure you and your clients know what you’re getting into.

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  7. Denny – I am rolling on the floor – that was a great analogy. Glad I got married at 23 – at 45 I’m afraid I might not do so well (lol) – luckily Jack married me for more than looks – and we invest in real estate because it has a great long term return – Brilliant- Cyndee Haydon

  8. Denny Oh says:

    Cyndee,

    Thanks for checking in. While 45 isn’t exactly 23, I’m sure Jack (and Rebecca…read her comment) will argue that there are benefits to being a little more mature.

    And as a single 27 year old, living in a quasi-college town, I’ll be the first to say that younger isn’t always better. Just ask Miss South Carolina

    http://www.youtube.com/watch?v=lj3iNxZ8Dww

  9. I LOVE this post…and, I am DEFINITELY more valuable at 47 than I was at 25…I can’t wait to turn 50! Cha Ching!

  10. Denny Oh says:

    Thanks Jackie. I just hope my body gets the message – my hangovers and injuries(both alcohol and non-alcohol related) seem to last longer and longer as I become more “valuable.”

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  12. Great post! So many reluctant buyers need to heed this advice. Maybe getting it to them in such a humorous way will work, at least if the man is the one steering the ship. The ladies may not be so moved to buy. 🙂

  13. Buying short sales can be a brilliant move, providing buyers have the patience to deal with the seller’s lender :-/

  14. Denny Oh says:

    Craigslist Search – short sales and REOs can definitely be a good deal. They often times offer “below market” prices, but as you mentioned, the buyer does have to be patient. These types of sales also come with different rules, logic and surprises. Just make sure you’re working with someone who knows what they’re doing.

  15. Dave says:

    Your analogy is ridiculous. Relationships are an APPRECIATING asset in terms of depth, understanding, history and all the things that make life worth living. The PROPER analogy would be to say you don’t want to buy a house because the FACADE will soon be weathered, regardless of the contents inside. Likewise, she is shopping for the facade and not the interior contents either.
    Get a grip, folks – HAVE YOU SO LOST TOUCH WITH WHAT IS TRULY VALUABLE???

  16. Patrick says:

    Stumbled on this so many years after the original post…..housing advice here turned out to be…ummmm…not so savvy. lol

  17. Denny Oh says:

    Hi Patrick – agreed. It wasn’t the best time to buy. Hindsight is 20/20!