Nicholas Cage is known for his bad real estate investments in terms of buying over-priced properties, which he then has been forced to sell at great loss or foreclose to cover other debts. The latest house in that category is his Middleton, Rhode Island, house according to Zillow.
This lovely 271-acre property comes with a large renovated 12-bedroom mansion and all the additions such as tennis court, pool, fishing pond, gym... Cage bought the house for $15.7 M in 2007, and the sales priced ended up being $6.2 M - meaning a 60% loss on the price is such good area! (Yes, we have seen similar price plunges more in areas such as Las Vegas).
Cage is known to have been forced to sell at great loss, or have properties foreclosed in five other occasions, and might still have 10+ property portfolio scattered around the world.
No comments:
Post a Comment