Thursday, June 9, 2011

How does Joe Zada do it? 6-9-11

If you crossed a blood sucking leech with a cat, you would have Joe Zada, who always seems to land on his feet. For years, Joe owned a home on Lake Shore Drive in Grosse Pointe Shores. It was not the grandest home by a long shot. It was large, but not compared to most of the mansions that dot the Pointes. In the outlying suburbs, it would be considered nothing more than a big Colonial style house. The front yard might have been expansive if not for the circular driveway. There was plenty of room for the huge look-at-me Christmas display, although it turns out that the hard-working company that put it up got stiffed like everybody else. How are you doing with collecting on that judgment, Paul? After a time, the house next door became available. Joe finagled yet another loan and bought it. He maintained it was for his sainted Mother, but his grand plan was to make one large look-at-me home to suck in even more "investors."  Joe neglected to pay taxes or the mortgage on either house, and lost them both...temporarily. Now please follow closely: The second one is gone for good, but Joe managed to redeem the first one, in spite of owing millions in judgments! Then he "sold" the first one to a man named Seidarabi. But does Joe still live there? Does he still call it home? Stay tuned. 

1 comment:

  1. Mark......Barney Nowicki here. I just looked up Zada's tax listing and the house still shows as him being the owner. I take it you know that you source knows for fact that Zada accepted an offer for Seidarabi, or the sale has actually closed, and just not yet recorded on the Shores Tax database? Lemme' know, please.....very interested here, thanks.

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