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View Full Version : Batch Declares Bankrupcy



kindlecatsb'ng
03-23-2011, 02:38 PM
http://sports.yahoo.com/nfl/news?slug=n ... tcy_filing (http://sports.yahoo.com/nfl/news?slug=nfp-20110323_charlie_batchs_super_bowl_rings_could_be_ lost_due_to_bankruptcy_filing)


Wow...Not good news :shock:

Kindle

flippy
03-23-2011, 02:39 PM
Another prospect for the UFL :)

feltdizz
03-23-2011, 03:00 PM
25 properties? :wft

Oviedo
03-23-2011, 03:09 PM
He will be fine when he is elected to the US House of Representatives representing the people of the Mon Valley. That is Batch's future not as a real estate mogul. Good intentions, bad execution.

Snatch98
03-23-2011, 03:50 PM
25 properties? :wft

He has a lot of section 8 properties in and around the city. Now as far as Batch running for the house of representatives. When is this supposed to occur? And who does he expect to beat? He'll get slaughtered by Mike Doyle, Crtiz just got in there. I guess he could try and take Altmire's seat as he's a total putz. I'm guessing he'd run on the Democratic slate. I don't like his chances and it's not like those guys make a ton of money.

kindlecatsb'ng
03-23-2011, 04:15 PM
http://www.pittsburghlive.com/x/pittsbu ... 28674.html (http://www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_728674.html)


Kindle

BradshawsHairdresser
03-23-2011, 05:23 PM
Dang. Charlie will be 52 and still have to be playing backup for the Steelers...

Notleadpoisoned
03-23-2011, 06:19 PM
Dang. Charlie will be 52 and still have to be playing backup for the Steelers...
Hopefully Charlie doesn't end up like Joe Gilliam, living in a cardboard box underneath a bridge and dead by the age of 50.

feltdizz
03-23-2011, 06:42 PM
Politicians don't make a ton of money but they control ALL the money. Why else would people spend millions running for a position that pays a few hundred thousand

RuthlessBurgher
03-24-2011, 09:30 AM
Dang. Charlie will be 52 and still have to be playing backup for the Steelers...
Hopefully Charlie doesn't end up like Joe Gilliam, living in a cardboard box underneath a bridge and dead by the age of 50.

Cocaine and alcohol abuse had a lot to do with that.

Charlie just had the poor fortune to invest in real estate in a crappy market, much like Dermontti Dawson, who was forced to declare bankruptcy in the past few years as well.

Chadman
03-24-2011, 09:36 AM
Chadman would like to feel sorry for guys like Batch & Dawson, but can't.

If you are earning around the million dollars a year mark, and you foolishly dump IT ALL into investments, then who do you have to blame, other than yourself?

Chadman is a gambler. Loves punting on horses. Property, shares- that's all gambling. You gamble that the chance of return is worthy of the risk.

Chadman GETS that.

But even lowly Chadman knows you don't risk more than you can afford to.

If you make $80k a year, or if you earn $25 million a year- the principle holds true- if you can't afford to lose it- don't risk it.

If rich, grown men can't figure it out for themselves- it's on their head.

birtikidis
03-24-2011, 09:55 AM
I feel for the guy. I know how hard the market fell. Personal experience... I just bought 270k house for just over 95k. that's a heck of a loss.

feltdizz
03-24-2011, 09:59 AM
Chadman would like to feel sorry for guys like Batch & Dawson, but can't.

If you are earning around the million dollars a year mark, and you foolishly dump IT ALL into investments, then who do you have to blame, other than yourself?

Chadman is a gambler. Loves punting on horses. Property, shares- that's all gambling. You gamble that the chance of return is worthy of the risk.

Chadman GETS that.

But even lowly Chadman knows you don't risk more than you can afford to.

If you make $80k a year, or if you earn $25 million a year- the principle holds true- if you can't afford to lose it- don't risk it.

If rich, grown men can't figure it out for themselves- it's on their head.

I don't think anyone feels sorry for Batch, it's more of a WTF?

He had too much spare time on the sideline thinking about ways to gamble. I did see Batch and Farrior at the Casino before the start of the season.

feltdizz
03-24-2011, 10:06 AM
I feel for the guy. I know how hard the market fell. Personal experience... I just bought 270k house for just over 95k. that's a heck of a loss.


It's a heck of a loss if he bought it for 270K... housing jumped from 100K to 400K overnight for no reason at all. I feel for anyone who bought at the height of the market.

My in law bought a shack for 30K and sold it for 150K.... and the guy who bought it tried to put it right back on the market for 250K.. he is stuck with it.

I know Charlie was trying to do right by buying up property in the burgh but those places aren't going to go any higher anytime soon. Pittsburgh was never a booming housing market to begin with.

birtikidis
03-24-2011, 10:31 AM
I feel for the guy. I know how hard the market fell. Personal experience... I just bought 270k house for just over 95k. that's a heck of a loss.


It's a heck of a loss if he bought it for 270K... housing jumped from 100K to 400K overnight for no reason at all. I feel for anyone who bought at the height of the market.

My in law bought a shack for 30K and sold it for 150K.... and the guy who bought it tried to put it right back on the market for 250K.. he is stuck with it.

I know Charlie was trying to do right by buying up property in the burgh but those places aren't going to go any higher anytime soon. Pittsburgh was never a booming housing market to begin with.
yea, absolutely true. And for so long everyone was beating the drum about real estate being the investment that would stay strong.
Good for me, when I'm buying, bad for the seller. Hell the house I bought had just been built in 2006, so it fell like a rock.

aggiebones
03-24-2011, 03:49 PM
If he has section 8 properties, aren't those really cheap? All you need is renters and rthe government picks up a large portion on the bill.
I know some people with similar portfolios in baltimore and have money rolling. Something else must have happened. It doesn't sound like he just bought tons of high priced properties at the peak.
25 (section 8) properties at $100K is only $2.5M. And I can't imagine they all cost $100K and if they did, I would think they would be easy to rent.
And he didn't buy them all last year. And some must be generating income for him by now. Something isn't adding up.
Granted I live in DC, so I'm not as keen in Burgh real estate these days. I'm sure he got saddled with alot of repairs. I'd assume he would have one up and running before he bought the next one, but maybe he just bought them all at once.

...if so I wouldn't vote for him for dog catcher. I like alot of people, doesn't mean I'd vote for them.

RuthlessBurgher
03-24-2011, 04:23 PM
...if so I wouldn't vote for him for dog catcher. I like alot of people, doesn't mean I'd vote for them.

I vote for James Harrison as Dawg Pound catcher... :tt2 :Steel :tt1

http://i.cdn.turner.com/si/multimedia/photo_gallery/1010/player-fan.altercations/images/james-harrison-browns-fan.jpg

NJ-STEELER
03-25-2011, 01:40 AM
I feel for the guy. I know how hard the market fell. Personal experience... I just bought 270k house for just over 95k. that's a heck of a loss.

wow

was it a foreclosure or short sale?

Snatch98
03-25-2011, 04:39 AM
If he has section 8 properties, aren't those really cheap? All you need is renters and rthe government picks up a large portion on the bill.
I know some people with similar portfolios in baltimore and have money rolling. Something else must have happened. It doesn't sound like he just bought tons of high priced properties at the peak.
25 (section 8) properties at $100K is only $2.5M. And I can't imagine they all cost $100K and if they did, I would think they would be easy to rent.
And he didn't buy them all last year. And some must be generating income for him by now. Something isn't adding up.
Granted I live in DC, so I'm not as keen in Burgh real estate these days. I'm sure he got saddled with alot of repairs. I'd assume he would have one up and running before he bought the next one, but maybe he just bought them all at once.

...if so I wouldn't vote for him for dog catcher. I like alot of people, doesn't mean I'd vote for them.

He has a bunch of section 8 complex type properties and his "group" does a half ass job meeting code and maintaining the properties. If they aren't up to snuff they fail and if they fail you don't get paid. Someone very close to me despite his devotion to the black and gold basically said Charile is a "borderline slum lord" I would also never vote for him to run in any sort of public office and with the group of democrats at least he'd get murdered unless he tried for Altmire's seat. Altmire is a putz.

frankthetank1
03-25-2011, 08:19 AM
didnt dirt go bankrupt from the real estate racket? thats really too bad. batch is a great guy and he does a lot of good

birtikidis
03-25-2011, 08:44 AM
I feel for the guy. I know how hard the market fell. Personal experience... I just bought 270k house for just over 95k. that's a heck of a loss.

wow

was it a foreclosure or short sale?
Short sale. both are all over the place down here.

aggiebones
03-25-2011, 09:53 AM
From articles I read the people in those 'slums' really love him. Also, they may have been slums when he bought them and he likely doesn't have the cake to rapidly upgrade them.
Granted, I oblivious to what he's doing, just speculating.

Snatch98
03-26-2011, 01:35 PM
From articles I read the people in those 'slums' really love him. Also, they may have been slums when he bought them and he likely doesn't have the cake to rapidly upgrade them.
Granted, I oblivious to what he's doing, just speculating.

Charlie Batch isn't running around doing urban redevelopment. He has a bunch of section 8 properties that his maintenance company doesn't properly maintain. As far as his "cake" is concerned there are plenty of other people with similar property portfolios that are getting it done on less money. I love my Steelers and Charlie Batch but he's not a good "landlord" despite what the articles you've read might have said. What articles anyway?