Proving that even in Florida, and even if you make $5 Million per year, investing in real estate ain’t exactly a routine ground-out, freshly minted Twin Luis Castillo stands to lose $430,000 on a condo deal gone-bad in Miami’s South Beach.
”Edgar Renteria invested $600,000 in one of the hottest real estate markets and persuaded his friend and former teammate [Luis Castillo] to put up $430,000,” said [attorneys representing the developer] "Construction was delayed, the construction loan matured, contractors and suppliers were owed money, yet only the second slab was poured for a five-story project. We need to find out what happened and turn this situation around.”
Psssst, Luis, if you have that much scratch to throw around, there’s a few folks up here that might want to talk to you about this stadium thing. I mean, 430k here, 600k there, and pretty soon were talking trendy, mixed use condo-ballpark.
ยท Westside Lofts Condo Files For Bankruptcy [miamiherald]
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You think we could fit a stadium at Little Jack’s? It’s 1.01 acres!