Word: carlsberg
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...Arthur Carlsberg, 32, of Los Angeles, has earned $5,000,000 in the business in which fortunes have traditionally been made fastest: real estate. He is chairman of Rammco Investment Corp., a Southern California land-investment firm that has shown a canny ability to pick farmland plots that later boom into building sites. Exuberant demand for choice land-which has helped send the price of housing sites in the U.S. up 15% annually during the 1960s-enables a land speculator to multiply his money in a hurry...
...University of Southern California ('53), Carlsberg ran a profitable entertainment magazine, then began renovating old houses and investing his savings in land. He was fascinated by the fast spiral in prices, but astounded to discover that few experts thoroughly researched the factors that made values soar. Says he: "Ninetynine percent of the real estate agents didn't know what they were talking about...
...analyze potential investment land, he began compiling a store of 14 statistics about undeveloped areas, including such basics as the value of industrial payrolls and proximity to railroads, airports, highways and utilities. By applying his techniques to a business that is usually short on facts and long on rumors, Carlsberg collected his first million well before reaching...
Bouncing Back. However they make their money, the self-made millionaires have many traits in common. Almost all of them decided early in life to be their own bosses. Most of them started earning money while still children: by the time he was 13, Arthur Carlsberg had been a caddy, gardener, seed salesman and fruit trader. Many of them, like Merlyn Mickelson, never went to college; others, like Arthur Decio and Charles Bluhdorn, impatiently dropped out of college in order to study in the marketplace. At the beginning of their careers, they lived lean, often taking shoestring salaries in order...
...million. They made tremendous sacrifices, taking meager salaries at first and pouring the profits back into their business. Many did not marry until they were well into their 30s, and then picked women who would put up with long hours of work. "The young millionaire," says Arthur W. Carlsberg, 32, who has made $5,000,000 by selecting, improving and selling Southern California land, "is the kind of guy people will tell to take a vacation-and he won't know what they mean...