Does anyone have information or a link to information about Jerry Buss's real estate career. I have searched the internet and every story I read mentions his first $,000 purchase and then jumps to his purchasing the Lakers for $65 million.
Would love to know some more information on how he became so succesful.
I was interested in this too. I thought I read something about how he was involved in a lot of commercial and partnership deals in AZ, CA, NV, but nothing specific.
Yea I read that he invested in Arizona also and had a business partner in a lot of deals but that is about the extent of what I found.
Daniel, interesting that you posted this .
I had started another thread yesterday but I put it in the Off Topic section. It's at https://www.biggerpockets.com/forums/56/topics/83641-jerry-buss-rip-owner-of-the-lakers-and-real-estate-mogul
I started it as a thread to discuss other people that did well in real estate but aren't known only as being REI people like Donald Trump.
Every article I read seemed to mention that he invested with partners in a 14 unit apartment building in West Los Angeles putting in $1,000 of his own money. I believe the total purchase price was $105,000 .
This article had a bit more details than some regarding his real estate investing.
I took would like some more detail. I wonder if he did any flipping of properties. I'm sure he must of sold some properties over time.
Another interesting thing is his purchase of the Lakers also had real estate involved he bought the Forum in Inglewood and also a ranch property.
"Combined with their real estate company, Buss and Mariani held assets of $350 million when the dust settle. " I'm not sure what that means it seems to say that his real estate holdings with his partner were worth $350million
It would be interesting to see how he went from $1,000 to $350million. Article does state that he benefited from a housing boom..but still there must of been a strong plan where he was aggressive with leverage and partners since he didn't start out with much money apparently.
I wonder if all these articles about Buss and his success in real estate will motivate others to want to become real estate investors.
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