I really like watching Kung Fu shows, as they are the ultimate good vs. evil type programs. The show Kung Fu starring David Carradine was a staple in my house growing up. The various life lessons that the monks taught “Young Grasshopper” were inspirational.
My business practice follows similar principles of Kung Fu and other various teachings that promote discipline and consistency.
I annually plan reasonable and achievable goals and outline a plan for success. I try to avoid the distractions of the media, temporary market fluctuations, and the shenanigans and personal discretions of some people you deal with.
In 1998 I found myself getting a divorce and living in a 2-bedroom apartment on Bentley and Santa Monica Blvd. Two months after I moved into the apartment the property sold. The new owner planned to white paper the building into condos. I was offered my unit for $200,000 and I accepted the offer. Two years later the owner finalized his plan and was able to deliver the property. So, in 2000 I bought my condo for $200,000 and 30 days later I sold it for $325,000.
I then bought a 3-bedroom house in West Los Angeles on Tilden Ave for $400,000. I also married my wife Theresa. Two years later, we sold Tilden for $975,000 and bought a 5-bedroom/4-bath home in Mar Vista for $1,375,000.
To sum up, in 1998 with $20,000 cash I bought my first condo and 4 years later, with no fresh cash and only the $20,000 initial investment, I had a $1,375,000 home. Today, that same home is worth $3,000,000. Real estate is amazing!
At the same time, Major Properties has been buying and selling properties for our clients and ourselves. Values have risen to never seen before prices over the past few years and foreign investment is at an all time high as well. It is estimated that Major Properties has done over $4 Billion in transactions over the 53 years we have been in business in Los Angeles. We are happy to provide a complimentary opinion of value and marketing analysis for all commercial, industrial and residential property owners.
