Michael Phelps; though he is a great athlete, he is not so fortunate on real estate field

By Park Sae-jin Posted : August 3, 2012, 17:02 Updated : August 3, 2012, 17:02
Michael Phelps (Photo credit: Kirby Lee, USA Today Sports)
Michael Phelps won so far 20 career medals but he is about to lose over $400,000.
 
Michael Phelps bought his 4,080 sq. condo in Baltimore for $1.69 million. However, as U.S. housing market crashed, so did his condo. He listed his condo last year, but he had to wait until last week to sell off his property, losing $440,000 and settling for only $1.25 million.
 
That could be a lot of money for people but it may not be for Michael Phelps since he will be earning about $100 million during his lifetime from endorsements according to his agent.
 
 
(Content Credit: TMZ)


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