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Shaq Buys Mortgages!The Transparent Real Estate blog first alerted me last week to the fact that Shaq “The Diesel” O’Neal is getting into the preforeclosure investing biz.

That’s right.  Henceforth we the fellowship of real estate entrepreneurs shall call The Shaq our bretheren.

Apparently O’Neal wants to buy the mortgages of Orlando residents facing foreclosure, then hand out new mortgages with easier terms. He would of course earn a “small profit” from his venture, and homeowners wouldn’t have to leave their houses.

The Orlando Sentinal reports that after he came out with the news, Shaq was inundated by 2,000+ e-mails from desperate Floridians seeking his help after failing to receive assistance from mortgage companies.

The best laid plans of Shaq and men…

Now Shaq admits he’s not really sure how to pull this off.  He doesn’t really have a “plan” per se.  But he’s sure the idea will work.

Interestingly I’m betting Shaq’s willing to take such a “small profit” thanks to the much more lucrative prospect of the TV reality show he’s also planning to develop around it all, called Shaq’s Big Save (a sequel-esque to his 2007 weight-loss show Shaq’s Big Challenge).

My question is…

…Could Investor-Shaq or Reality-TV-Shaq ever really compete with Basketball-Shaq, Kazaam-Shaq or Mad-Rapping-Skillz-Shaq?