I'm talking about income here people :-)

Zillow has come up with a new list of celebrity foreclosure and pre-foreclosures for those of you out there that are looking to short sale $Million-plus houses.

Included among those in real estate financial woes are:
Actor Nicholas Cage whose home sold for half! of what he bought it for. Ouch!

NFL Detroit Lions' Lineman Luther Elliss
Singer Toni Braxton
Victoria Gotti from Growing up Gotti Fame
Comedian Sinbad
and a host of others.

Many would read this and say- Ha ha. I have even ready a few LOL comments left all ove the internet on this one, but I say: Size doesn't matter folks.

One's income and fame - even connections as can be seen in the Gotti case- does not matter.

Income doesn't matter if you continue to buy houses and other gadgets that are actually beyond your means.

Example: Income= $10million per year
You buy a house, cars, Villas, airplanes that cost you $12million a year in payments= You're in trouble.

The key is to find out what you can actually afford and live UNDER that amount each month and each year.

The Key is appreciating what you have and not buying stuff for the sake of buying it.

This applies to real estate investors as well, because we make up a part of these foreclosure numbers don't we?

You have to know your numbers getting into any transcation, AND provide yourself with a cushion just in case the deal doesn't go the way you had drawn it up.

You can always get my Property Analyzer software - Free for the asking when you fill out the contact form on my site.

Remember, run the numbers- and stay out of the headlines.


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