Warren Buffet Sells Beach Home for Staggering Profit
After 20 months on the market Warren Buffet finally sold his Laguna Beach home for a staggering profit. Buffet bought the home in 1971 for $150,000 and originally listed the house for 11 million, but lowered the price when it didn't sell as quickly as he had hoped setting for a cool 7.5 million.
Known as one of the most famous investors in the world, Warren Buffet's home sold so slowly for the same reason many people in Miami, Florida have difficulty selling their home. He simply overpriced the home for the area in which it was located. After correcting his error, he was able to sell his home.
This should be a lesson to property owners in Miami looking to sell their property quickly not to overprice their property beyond what buyers are willing to buy, regardless how famous you may be.
A Bit About Warren Buffet
The fact that Buffet was able to sell his property for such a huge profit only bears out his ability to smartly invest his money. His business acumen began early when at the ripe old age of 11, he made his first investment from money he made delivering newspapers. From there he started a pinball business that he sold while he was still in high school.
Through working hard and smart investing Warren Buffet reached his goal of becoming a millionaire by the age of 30 and continued on to become a billionaire in his mid-fifties reaching 30 billion dollars by the time he reached 70.
A good share of his income came from him being a major shareholder and CEO of Berkshire Hathaway a holding company that wholly owns GEICO, Dairy Queen, BNSF Railway, Fruit of the Loom, and Pampered Chef among others. The company also owns interest in Kraft Heinz, Cocoa Cola, Bank of America and Apple as well having major interest in several airlines and a stake in EWM Realty International.
Berkshire Hathaway Home Services
The Berkshire Hathaway Home Services division has become the 2nd largest Real Estate Broker in the United State dealing in residential Real Estate.
Berkshire Hathaway Home Services is continuing its expansion into Miami-Dade after acquiring Foster and Clark Real Estate. The company already has more than 40 locations throughout Florida so adding the Miami area to their roster makes a lot of sense.
Despite all his wealth and massive gains in the real estate arena, he lives a simple life and is actually a good example of never living beyond your means.
Not all of his money goes into banks or back into businesses since between the years of 2006 and 2018 Warren Buffet donated 28 billion dollars to charity.
Working With The Industry Standard
There’s a good likelihood that people buying and selling homes and condos in the Miami-Dade County area will be doing business with one of Warren Buffet’s real estate companies. In doing so they are choosing a company that is professional and meets all their needs to either sell their home or to buy their next property.