Tuesday, June 26, 2012

The Rich Get Richer? Maybe Not. By Geniusofdespair

In 2005 Pablo bought a house on Casa Madeira in Coral Gables for $950,000. Sergio Pino bought it from the Bank of New York for $450,000 in 2008.  In 2012 Sergio sold it for $750,000. Granted he probably remodeled it, but he had to make some bucks even if he pumped money in. Pino also sold another property he bought in 2008 for $515,000. This one is in Doral and he got it from his own company ??. He sold it to Private Lending Group, LLC. for $275.00 June 1st.  Strange deal.

Pino is also up to something with his University Campus Lodge holdings worth about $5 million (He paid $5,200,600 in 2005 and 2006) near Fontaninebleau Blvd. He filed an affidavit about his holdings here May 15th. The purpose? Don't know.  He has a few affidavits filed and 1 lis pendens from May.  I can't begin to figure out some of the deals I see in public records.  Somehow I am sure developers are making money with all their creative deals.

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