Nicolas Cage Selling Real Estate Empire
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Reports are that bad business decisions, he is suing his business manager for 20 million dollars, is forcing the actor to liquidate his housing holding around the world. The IRS has a 6.3 million dollar lien on a couple of his houses and the actor has an auction scheduled for November 12th in New Orleans to sell 2 of his properties including the Haunted LaLaurie Mansion that he bought in 2007.
His holdings have included a pair of apartments on a swanky stretch of New York’s Fifth Avenue, a Bavarian castle in Germany, Dean Martin’s former home in Beverly Hills, Calif., and a townhouse in Bath, England, among others.
But apparent financial troubles have prompted Mr. Cage to try to sell several of his luxury properties during one of the most difficult real-estate markets in years. And in August, the IRS slapped tax liens on Mr. Cage’s two New Orleans properties – including the allegedly haunted LaLaurie Mansion in the French Quarter. Now both estates are to be sold at auction on Nov. 12. via WSJ
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Comment by Tony Sena on 4 November 2009:
Just goes to show no matter how much money you have, you have to manage it wisely.
Comment by Central Oregon Homes on 4 November 2009:
In real state business, bad decisions are avoided as much as possible and timing takes it all. Because in just a snap,the business would go down even if they said that wrong decisions brings good lessons. Profit/Money management is the top most priority.