Villa Del Lago

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socalmd_IHB

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So I read that Villa del Lago had a price increase...from 75 million to something like 89 million. Who's gonna buy this place...Bill Gates?!What's he hoping for a crazy billionaire?

And he also lost the Portabello listing...about 75 mill

And now I hear from different sources that he sold his Shady home for 9 million after having a 9.4 million loan on it(at peak I think it was valued at 15 mill)
 
He sold his Shady Canyon House because He has out grown the house with 4 kids. His Pelican Nest has an interested Middle Eastern buyer.
 
John is a successful guy and he does consult with me. I have witnessed his professional life since his started in the early 90's and from my observations he conducted his business with good ethic. He did sell his home in Shady Canyon. I know his house well. It was conceived in the late 90's by David Martin architect who apprenticed with the legend IM Pei who designed the National Art Gallery DC and the Louvre Museum in Paris.

John's family has out grown the floor plan and so have his fundraiser events. A custom Home to the wealthy is like a tailored suit that hugs the body contour. No suit really fit precisely for a long time as the body figure changes and the same also applies for a custom home as lifestyle is also constantly evolving.
 
excuse me skekie but I was not pumping a "boiler room stock", I was merely stating how I became a part owner of a startup company and so far have lost a crap load of money on it. I didn't tell anyone to buy it. Maybe you're a little sore that Obama won?? Try some deep breathing exercises.

That being said, I deeply apologize for the above post and would remove it if I could. I hope a moderator will do so. Although I believe what I wrote is true, it has no place on this forum. I should have left his families personal issues alone. Again I am deeply sorry for the post.

But I think he real estate dealings are fair game. IMO he is part of the problem with the inflated prices and subsequent bubble bursting. Also, when in fact he is currently renting, he is telling his clients it is a great time to buy or sell. This is unethical imo. And driving around in a Maybach with a driver is way over the top imo. It's almost obscene with all the people suffering out there.
 
skek, thanks for that response.

I am sorry if it sounded like I was trying to pump that stock. I was just trying to describe how I lost a bundle on investing in a friend's startup.
 
socalmd said:
excuse me skekie but I was not pumping a "boiler room stock", I was merely stating how I became a part owner of a startup company and so far have lost a crap load of money on it. I didn't tell anyone to buy it. Maybe you're a little sore that Obama won?? Try some deep breathing exercises.

That being said, I deeply apologize for the above post and would remove it if I could. I hope a moderator will do so. Although I believe what I wrote is true, it has no place on this forum. I should have left his families personal issues alone. Again I am deeply sorry for the post.

But I think he real estate dealings are fair game. IMO he is part of the problem with the inflated prices and subsequent bubble bursting. Also, when in fact he is currently renting, he is telling his clients it is a great time to buy or sell. This is unethical imo. And driving around in a Maybach with a driver is way over the top imo. It's almost obscene with all the people suffering out there.
Click to expand...

The inflated prices start with land value and then existing homes benefited from the comps. I do think having a Maybach and a driver is excessive for you and me. Others have posted that I should wash my own car and fry my turkey in the garage. For my time and cost efficiency doing both mean the tasks would not yield an economical return. My conduct would appears to be wasteful for other posters.

For John as he gets into his Maybach his mobile office he is on the phone constantly reading numerous literature and proposals. His RE territories now blankets over Santa Barbara, Beverly Hills, and Bel Air and having a driver alleviates his burden of driving distraction and direction preparation is worth it for him. To the wealthy where time is $$$ having a fancy car and a driver are just the norm. Others have pilots and jets when they are dealing with constant national business travel.
 
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