Although the rich and famous are rich and famous, it doesn't mean that they are impervious to the popping of the real estate bubble. Many have succumbed to real estate woes as of late.
Ed McMahon had tabloids a talking when his real estate troubles became front page news last year. The now deceased celebrity attributed his dollar difficulties to alimony paid out to ex-wives and the economic downturn.
Aretha Franklin set the record straight about her exclusive Detroit suburban home. It went into foreclosure due to non-payment of property tax. She could have lost her 0,000 home to foreclosure due to 5 in back property taxes that accumulated into ,000, since 2005. She said it was an oversight by her attorney. Once alerted of the situation, the Queen of Soul satisfied the debt.
Amber Frey, infamous ex-mistress of convicted murderer Scott Peterson lost her home northern California home to foreclosure. At auction, the asking price was over 0,000 less than the original purchase price. No one snatched up the deal at a low 5,000. She ended up surrendering the property to the bank.
Fantasia of American Idol fame came close to losing her home in Charlotte, North Carolina. The R&B singer settled with her Florida lender just days before the auction was scheduled to sell her pond-front home.
Extreme Makeover scandal hit the Harper family home in Atlanta, George when it went into foreclosure and would have been sold had it not been for ... even more ... generous donations. The most expansive Extreme Makeover ever seen was completed with much dedication, sweat and effort by volunteers, along with a deluge of donated dollars. Taking out a 0,000+ loan for a construction business that went belly up put the Harper's home in harm's way.
Laura Richardson, California Congresswoman, fell behind on property tax and mortgage payments in 2008. To the disdain of Sharon Helmar who sold it to her, the Long Beach home went into foreclosure and was sold. Neighbors noted that she did not keep up the lawn or take out her garbage.
Sports figures are not unfamiliar with foreclosure, either. Latrell "Spree" Sprewell, former NBA guard known for choking his then Coach P. J. Carlesimo, lost his 70-foot yacht and his Milwaukee home to foreclosure. Assessed at a mere 8,000, the home's value was nowhere near what most other sports professionals in his pay range own.
Jose Conseco experienced women woes, which caused him to lose his expansive 7,300 square foot Encino, California mansion. At least, that's his story. He said he lost to million on his two divorces that left him hard up for cash and was unable to pay his mortgage.
Not to anyone's surprise, Michael Vick's home was in foreclosure, since he was in prison and no longer could come up with the cash. Once NFL's highest paid player, the dog-fight diva was convicted and was to serve 23 months in prison. He was released earlier this year to serve out the rest of his sentence in home confinement.
Evander Holyfield, famous for his fight with Mike "I'll Bite Your Ear Off" Tyson, had his Fairburn, Georgia home in foreclosure. He was also behind on child support payments to a mother of one of his eleven children, and being sued for not paying 0,000 he loaned he owed to a consulting company.
Michael Jackson (King of Pop), MC Hammer (Hammertime fame), Veronica Hearst (Randolph Hearst widow), Scott Storch (previous hip-hop producer), Damon Dash (hip-hop mogul), Doug E. Fresh (rap icon), Vin Baker (former NBA star), Wyclef Jean (Fugees' frontman) and other famous actors, performers and sports professionals have all experienced foreclosure.
Showing posts with label Rich. Show all posts
Showing posts with label Rich. Show all posts
Saturday, September 22, 2012
Monday, April 23, 2012
Creating Wealth
Creating wealth is not as difficult as many people think. Many people think that creating wealth involves coming up with something different and being innovative.
The route to creating wealth is much simpler and we are going to discuss how to do it in this article.
Rule 1
It takes a bit of time
If you want to create wealth overnight this article is not for you however if you are prepared to look at a PROVEN method and a 5 10 year plan, to give you and your loved ones a better lifestyle then this article is for you.
Rule 2
High reward and low risk
What you need when creating wealth is the highest possible reward with the lowest downside risk.
There are plenty of quick risky ways to create wealth but only a few succeed, so here we are going to go with the highest reward and very low risk
RULE 3
You need to do it yourself
Fact is no one else is going to create wealth for you. Forget people selling MLM schemes and get rich books for a hundred dollars is not you who will get wealthy! It's them.
If you try and create wealth by making someone else risk you won't.
Also avoid managed investments the reason people offer to manage your money is they cant do it themselves so no mutual funds, hedge funds, managed FOREX etc
Rule 4
Work smart not hard
Creating wealth is all about working smart not working hard.
You will put your money where it grows quickly and compounds with low risk.
This means making your money to work for you to make more money.
The billionaire's secret investment!
Howard Hughes did it, Donald Trump does even comedian Bob Hope did it and so do most of the worlds wealthiest investors They invested in land.
You may have never considered this as a way to build wealth before, but the fact is:
Its got huge profit potential to risk and land is cheap and easy to invest in - It's the perfect investment to make money fast!
In certain countries land values are booming and many people are making money fast.
In Costa Rica for example many investors are making 100% annual gains with low risk and their getting rich
Why?
Because Americans are buying property in ever increasing numbers, at up to 70% less than in the US and these properties need to be built on prime land.
This trend is accelerating and will continue as baby boomers look for holiday homes and retirement homes and a slice of paradise at an affordable cost
Is it really possible to make triple digit gains with low risk
The answer is yes. Investors are already doing it and it's a simple investment to do and it's cheap
All you need to do is buy land in up and coming locations sell on development and move to next location and you will be creating wealth all along the way with low risk.
There is not enough room in this article to go into the massive wealth potential of buying land, however research the facts and you will see there is no simpler low risk way to create wealth longer term and secure your financial future.
The route to creating wealth is much simpler and we are going to discuss how to do it in this article.
Rule 1
It takes a bit of time
If you want to create wealth overnight this article is not for you however if you are prepared to look at a PROVEN method and a 5 10 year plan, to give you and your loved ones a better lifestyle then this article is for you.
Rule 2
High reward and low risk
What you need when creating wealth is the highest possible reward with the lowest downside risk.
There are plenty of quick risky ways to create wealth but only a few succeed, so here we are going to go with the highest reward and very low risk
RULE 3
You need to do it yourself
Fact is no one else is going to create wealth for you. Forget people selling MLM schemes and get rich books for a hundred dollars is not you who will get wealthy! It's them.
If you try and create wealth by making someone else risk you won't.
Also avoid managed investments the reason people offer to manage your money is they cant do it themselves so no mutual funds, hedge funds, managed FOREX etc
Rule 4
Work smart not hard
Creating wealth is all about working smart not working hard.
You will put your money where it grows quickly and compounds with low risk.
This means making your money to work for you to make more money.
The billionaire's secret investment!
Howard Hughes did it, Donald Trump does even comedian Bob Hope did it and so do most of the worlds wealthiest investors They invested in land.
You may have never considered this as a way to build wealth before, but the fact is:
Its got huge profit potential to risk and land is cheap and easy to invest in - It's the perfect investment to make money fast!
In certain countries land values are booming and many people are making money fast.
In Costa Rica for example many investors are making 100% annual gains with low risk and their getting rich
Why?
Because Americans are buying property in ever increasing numbers, at up to 70% less than in the US and these properties need to be built on prime land.
This trend is accelerating and will continue as baby boomers look for holiday homes and retirement homes and a slice of paradise at an affordable cost
Is it really possible to make triple digit gains with low risk
The answer is yes. Investors are already doing it and it's a simple investment to do and it's cheap
All you need to do is buy land in up and coming locations sell on development and move to next location and you will be creating wealth all along the way with low risk.
There is not enough room in this article to go into the massive wealth potential of buying land, however research the facts and you will see there is no simpler low risk way to create wealth longer term and secure your financial future.
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