I’m a big sports fan, so I was very interested in the story in the L.A. Times published on March 9th about the decision San Diego Charger’s owner Dean Spanos had to make about moving the team to L.A.
The story started like most stories about a billionaire who was making a move that would make his investment worth a billion more than it already was. The details of his deal are in the L.A. Time’s article, but it was the backstory about Dean’s father, Alex Spanos, that I’d like to discuss here.
Back in 1951, Alex Spanos was living in Stockton, CA unemployed and broke searching for a way to provide for his wife and two young children. He talked a bank into loaning him $800 so he could buy a truck and supplies to sell bologna sandwiches to migrant farmworkers.
He did very well in that business, and a few years later Spanos invested some of his windfall into real estate. He founded the A. G. Spanos Companies in 1960, and by 1977 had become the largest apartment builder in the United States. He bought a majority stake in the San Diego Chargers in 1988. His oldest son, Dean Spano, took over the operation in 1994. I was so impressed with Alex Spanos’ backstory, that I plan on buying his book, “Sharing the Wealth: My Story”.
All of this is to say that you, like Alex Spanos, can turn a modest initial investment into a real estate empire. Let us teach you how and guide you along the way. Give your nearest Buckingham office a call when you’re ready, and we will be here to help.
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