'A Sure Bet'.

Growing up, Miami rap artist Pitbull had nothing. So when it came time to invest his hard-earned cash, the performer says he was looking for a sure betâ€"or "as close to a sure bet as possible."

For Pitbull, this meant real estate.

"It's a great way to invest your money and to enterprise yourself," says Pitbull, whose parents were first-generation Cuban immigrants. "It sets you up to build and rebuild your capital. I know cats down here who are making moneyâ€"earning a livingâ€"just from buying and selling property." Pausing for a few seconds, he adds, "It's become the new dope game in Miami."

Pitbull, who records for TVT Records, bought his first piece of propertyâ€"an apartment in Coconut Groveâ€"in 2004. It was a great way to mark the release that year of his debut album, "M.I.A.M.I. (Money Is a Major Issue)," which has since gone gold.

His star continued to rise in 2005. TVT issued "Money Is Still a Major Issue," which features remixes from "M.I.A.M.I." as well as unreleased tracks; a bonus DVD contains live performances and interviews with the artist. By year's end, Pitbull had been featured on tracks by Nina Skyy ("Turnin' Me On"), Twista ("Hit the Floor") and labelmates Ying Yang Twins ("Shake"). Speaking of labelmates, Pitbull assisted Lil Jon on Eminem's Anger Management tour.

With more money on hand, Pitbull's real estate portfolio expanded. In addition to his Coconut Grove apartment, he owns a home under construction in North Miami, a home in South Miami and a condominium in downtown Dadeland. The four properties, collectively, are valued at approximately $3 million. Nearly half of this amount ($1.2 million) went to the North Miami house. Once it is finished, Pitbull plans to sell it at a hefty profit and reinvest the money in another property.

With a new album on the way ("El Mariel" is due this summer)â€"and Hollywood knocking on his door ("I'm looking over a couple scripts," he says)â€"Pitbull appears well-poised to continue his buying-and-selling spree.

And while he calls himself a rookie to the real estate game, Pitbull acknowledges that he's a quick learner. "Once you make money off real estate, you must reinvest in another property or two," he says. In this way, "you keep recycling your moneyâ€"flipping propertiesâ€"instead of giving it to Uncle Sam."

Like others, Pitbull feels that high-end real estate offers a better return on investment than venture capital or other securities. "With real estate, I own it and control it," he notes. "I decide when I want to buy and when I want to sell. Sure, you can make money in stocks. But I had a friend who lost $1.5 million in the stock market. So I'm sticking with real estate."

PHOTO (COLOR): PITBULL

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By Michael Paoletta