Today, Arnold Schwarzenegger is one of the most recognizable people in the world. Renowned for his acting career, his two terms as Governor of California, and his high-profile marriage to Kennedy family member Maria Shriver, it is hard to remember that Arnold was not always rich and famous. He had several films that were huge successes at the box office, including the “Terminator” franchise, “Conan the Barbarian,” “Predator”, and “Kindergarten Cop”. But after the end of World War II, his childhood was growing up in Austria. Born in 1947, he witnessed food shortages and riots in Austria. His father was the local chief of police and joined the Nazi Party in 1938 and served in World War II. Fortunately, Arnold subsequently did extensive research on his father’s activities in the war and did not turn up any war crimes. His family was poor. The house she grew up in did not have electricity or hot water. Arnold once said that one of the attractions of his childhood was when his family could finally afford to buy a refrigerator. Today, he is worth $ 400 million and it is not just his acting or political career. Indeed, long before the world knew Arnold as Conan the Barbarian, he was already a self-made multi-millionaire dating back to the age of 20.
When Arnold was in his teens, his father was pushing him to become a football player. But Arnold had other ideas and began his bodybuilding career. She won several bodybuilding competitions in Europe, including Mr. Olympia while she was still in her late teens. He won the Mr. Universe competition four years in a row. After that, he packed his bag and left for Los Angeles in 1970. He was 23 years old. He had dreams of acting, but for the first few years he just kept on lifting weights and entering bodybuilding competitions. He was doing very well – all those European competitions had earned him $ 27,000 in prize money – today’s price is $ 183,000.
Arnold made a very subtle observation about life in Los Angeles. They did not understand why everyone was not ready to live in a rented apartment instead of buying their own house. Renting a house in an Austrian city was also not an option, so he grew up. So Arnold bought the building that cost the building $ 214,000. A year later, he sold it for $ 460,000 and flipped the profits into another, 12-unit building. When they sold that one, they bought a 36-unit building, then a 100-unit building. Every time Arnold sold a building, he used the profits to buy the next one, avoiding taxes and increasing his potential future profits.
Arnold was buying apartments, condominiums, and even office buildings in Los Angeles in the 1970s. He bought a building in Santa Monica for $ 450,000 and later sold it for $ 2.3 million. He earned $ 7 million from selling the Nevada office building, which he had not owned a few years earlier. Over the next thirty years, the California real estate market exploded. If he had started in real estate after a few years, he would never have joined the game. But that did not happen, and before he turned 25, he had a multi-million dollar real estate fortune. It would be a decade ago when his acting career began, but Arnold was much better off as a result of his investment in real estate, than most aspiring young actors in Los Angeles.
Meanwhile, Schwarzenegger was hooked on investing in real estate – and can you blame him? In a span of just six years, he sailed from a boat for an American dreamer to a real estate millionaire to Austrian immigrant. He started looking for real estate opportunities across the country. Then, he could barely speak English. Today he owns large-scale real estate in his adopted homeland. In fact, it’s not a stretch to say the equivalent of Arnold Schwarzenegger’s total assets of $ 400 million that comes from four decades of investing in Los Angeles real estate. Not only was he in the right place at the right time, but he was very sensible and was shaken enough to see and take advantage of an opportunity.