Former Miami New Times reporter Tamara Lush, who's now a writer for the Associated Press in Miami, has written an incredible story on "superstar" Miami real estate agent Carlos Justo, who was once worth $20 million but who's now bankrupt, 20 million in debt and owes another $6 million to the IRS.
"His financial picture was summed up in one dry sentence in the bankruptcy filing: 'At the current time, the debtor has no income due to the state of the real estate market.'"(You can also read Lush's story on the Herald's website along with the always insightful and entertaining comments by Herald readers.)
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Allen Salkin of the The New York Times, in a piece for Sunday's paper says this of noted photographer Annie Leibovitz: "If money and fame are the yardsticks, Annie Leibovitz is one of the most successful photographers of all time."
But Salkin goes on to report that Leibovitz is facing "extraordinary financial troubles, with the possibility of losing her Civil War-era town houses in Greenwich Village, a home in upstate New York and the rights to decades of her work."
Salkin asks: "If Annie Leibovitz can’t make it in New York, who can?"
Indeed.
Carlos Justo is the most talented real estate broker in the world and his comeback will be a story like Donald Trump's own. His client's have made untold millions buying real estate in Miami and the he'll make millions for his clients again over the next decade as the real estate market cycles back and Miami again becomes a world's favorite destination to buy real estate.
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