Focus brought up this story today about Boris Becker and his woes.
One investment deal that Boris got into back in the late 1990s....was the purchase of 26 acres of land down on the Spanish isle of Mallorca. Boris put down 500,000 Euro at the time for the land, and then started building.
Some of the construction was on construction paperwork approved by the Spanish authorities....some was not. At some point, roughly six years into this....the authorities inspected and told him to tear down some of the work done. No one says the amount, but it was a minimum of two buildings on the property that weren't on the building permit.
Boris says publicly....the property is worth near 15-million Euro today. By the account written by Focus....local real estate folks figure at best....it's near 3-million Euro.
You get the opinion that a lot of money has been poured into this home idea and that it's become a pit to just throw money into....with no return on the investment.
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