The Unbelievable True Life Story of Arnold Schwarzenegger

Part 3 of 8

Image Credit: https://pixabay.com/illustrations/gabriel-moral-illustration-art-2519845/

I always saw myself as a citizen of the world.

Over the next two or three years, I conducted research. Every day, I would pore over the real estate section in the newspaper, studying the prices, stories, and adverts.

I became so familiar with Santa Monica that I knew every square block. I could tell how property values increased north of Olympic Boulevard compared to north of Wilshire or Sunset.

I understood the importance of schools, restaurants, and proximity to the beach. I knew every building in town and every transaction: who was selling, at what price, how much the property had appreciated since its last sale, the financial breakdown, the cost of yearly maintenance, and the interest rate on the financing.

I met landlords and bankers, and the maths of real estate really spoke to me.

As I toured a building, I’d ask about the square footage, the vacancy rate, and the cost per square foot to operate, quickly calculating how many times the gross I could afford to offer and still make the payments.

When I pulled off a $215,000 deal, it left my old friend Artie Zeller in shock.