Readers of our condo blog like one thing the best: The fact that we tell is like it is – good or bad. We highlight the good, but if there are shady goings on out there, we tend to speak up about that too.
Lucas LechugaÂ is our counterpartÂ in Miami. Buyers love his condo blog -Â developers, well, not so much. Tibor Hollo, the developer of the MiamiÂ condo “OperaÂ Tower” has just filed a $25M lawsuit against LechugaÂ for making a comment in oneÂ of his blogs thatÂ he gone bankrupt in theÂ past. Hollo admits that he lost a lot of money, but says he never actually filed for bankruptcy. Of course you don’t have to file for bankruptcy to be bankrupt – still, it probably wasn’t the smartest thing for Lechuga to say out loud. Nevertheless, it seems unlikely that theÂ lawsuit will go tooÂ far, butÂ we’ll let the courts figure that one out.
Of course the real target is Lechuga’s broker, EWM (owned by Warren Buffet)Â who responded by letting Lechuga go – after just five weeks. The irony is, he was hired partly because of his blog.
Lucas: forget EWM – go get your own broker’s license and start your own bloggerage / LLC. You can still be sued but hey, do you have $25M? Probably not. So what’s the difference.
Meanwhile we’ll still be telling it like it is here in Orlando -Â We don’t mind being sued at all.Â We’re as broke as everyone elseÂ in the midst of this real estate mess.Â Oops, did I tell the truth? “Real estate mess”? My bad.