80 year old Dr. Jerry Buss died today. Whey am I mentioning it here in a real estate forum? Becasue Buss received a doctorate in physical chemistry from USC, but it was a $1,000 investment in a Los Angeles apartment building that ultimately sparked a career in real-estate investment. That career in real estate ultimatly ended up with him being rich enough that in 1979, he bought the Lakers from Jack Kent Cooke, along with the Forum, the NHL’s Kings (which he later sold), and a ranch in the Sierra Nevada for a total of $67.5 million.
I don’t want to mince words here and say it as clearly as I can…Real estate will make you rich.