Registered: 1151453508 Posts: 777
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Now the 70-year-old developer is in the middle of a maelstrom of a different kind. This time it's in the credit markets. Thanks to his personally guaranteeing a $1.2 billion loan last winter, he may lose billions of dollars in real estate, his homes in Manhattan and the Hamptons, his contemporary art collection, and even his beloved yacht. This would be a bitter end to the career of one of New York City real estate's most polarizing figures. http://money.cnn.com/2008/02/14/real_estate/real_estate_mogul.fortune/index.htm?postversion=2008021513
Registered: 1180625843 Posts: 4,871
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Thats pretty interesting. It seems his mistakes were very similar to Joe Sixpack...
1 - Ignoring the market trend 2 - over paying 3 - over leveraging __________________ Gene Hacker
Passive and active real estate investment opportunities.
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