Dr. Schumacher was a seasoned investor, real estate appraiser, former college instructor and multi-millionaire property owner with over 50 years experience in real estate. One of the largest property owners in Hermosa Beach, California, Dr. Schumacher turned to land after losing all his money in the commodities market in the late 1950s. His monumental success in real estate enabled him to donate $1 million to the City of Hermosa Beach in December 1999 for the re-construction of the entrance to the Hermosa Beach Pier.
Dr. Schumacher made his first real estate investment, a four-unit apartment building in Hollywood, in 1956 while working for the international appraisal firm Marshall and Stevens in Los Angeles. From that initial investment, Dr. Schumacher had pyramided his single holding into a $15 million estate that included five ocean front apartment buildings on prime Southern California real estate, 11 single-family residences in the neighboring South Bay area of Los Angeles and 30 condominiums in Orange County, California.
At Marshall and Stevens where he worked from 1945 to 1965, Dr. Schumacher held the positions of appraiser, district manager, and vice president in charge of training and research. The originator of college course curricula and instructor guides on appraising and real estate investment building. Dr. Schumacher had conducted numerous investment seminars and taught advanced real estate appraisal courses for the California Department of Real Estate, Los Angeles City College and UCLA Extension.
Dr. Schumacher, an extensive lecturer, had spoken before many real estate conventions, realty and numerous real estate chapter designations. He had personally appraised over 3,000 properties, specializing in complicated real estate matters, including condemnation cases and litigation testimony. His appraisal experience had included several hotels and casinos in Las Vegas, Nevada from 1955 to 1965, Catalina Island and Los Angeles International Airport expansion project in 1975.
About Steve Dexter
Steve Dexter, Real Estate and Foreclosure Expert, has updated a real estate classic, Buy and Hold by David Schumacher, with new info on laws, market conditions, taxes and other issues vital to become an informed and successful real estate investor.
Steve Dexter, real estate and foreclosure expert offers tips on how to build wealth through wise investing and buying foreclosures. His two book, Real Estate Debt Can Make You Rich and Beat the Banks, are guidebooks for how to create real wealth through real estate investments of all kinds.
Beat the Banks: How to Prosper in the Rising Wave of Bank Foreclosures by Steve Dexter, a real estate and foreclosure expert who has appeared on radio and TV shows around the country.
With housing and commercial-property prices the lowest they’ve been in nearly a decade, this classic real estate investment guide is timelier than ever. Dr. Schumacher, who passed away in 2006, found that the way to a lifetime of financial security was to buy smart and never sell, and he built a $20 million fortune using his own savvy advice.
The book, updated by Steve Dexter (president of National Capital Funding and an expert commentator for CNN/Money, CBS Radio and Fox TV), reveals step-by-step investment techniques that can work in the midst of a slow real estate market or a booming one for first-time buyers or seasoned investors, and for buyers of single-family residences, apartment buildings or shopping.