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Interviews

Adam Milstein – Managing Partner of Hager Pacific Properties

Originally posted by Ideamensch

“To understand the issue yourself – one cannot rely on other people. Be part of the solution. Understand the problem and contemplate the issue.”

Adam Milstein is an active philanthropist, real estate investor, and community leader. A native of Israel, he served in IDF during the Yom Kippur War, and graduated from the Technion in 1978. Upon his arrival in the US in 1981, Adam earned an MBA from USC and began a career in Commercial Real Estate in Southern California in 1983. Adam is a Managing Partner at Hager Pacific Properties, a private commercial real estate investment firm.

Adam Milstein is a co-founder and National Chairman of the Israeli-American Council, where he is the chair of their national expansion. He also sits on the Board of several organizations, including, the Israel on Campus Coalition , StandWithUs, Hasbara Fellowships, Jewish Funders Network, AISH Los Angeles, AIPAC National Council and the Los Angeles Board of Birthright Israel. Along with his wife, Gila, Adam Milstein is a co-founder of Sifriyat Pijama B’America, an organization that provides free monthly books in Hebrew, teaching Jewish values to more than 15,000 Israeli-Jewish-American families in the United States.
Where did the idea for Hager Pacific Properties come from?
I came here to acquire higher education and went to USC and received an MBA in entrepreneurship. Before graduating, many people came to campus recruiting for jobs. I realized they didn’t appreciate my life experience, knowledge, etc. They were offering me less than what undergrad students were making. I decided to go out on my own, and started working as Real Estate Commercial broker. After three successful years as a broker, I went out on my own to become an investor in real estate.
What does your typical day look like and how do you make it productive?
When you start a business, you don’t know what your day will look like. There is more structure as you acquire more assets and complete more activities. Over the years, I realized that getting involved in philanthropy make my day-to-day job much more satisfying.
How do you bring ideas to life?
I push until they become reality. If someone else can’t do it, you should do it yourself. I do a lot by myself. I also follow-up on a daily basis and don’t let anything fall between the cracks.
What’s one trend that really excites you?
In real estate, there are plenty of exciting ups and downs. For instance, the fact that supply always lags a few years behind demand, then it flips, or the way that price fluctuates. It’s all very exciting. It takes time a long time to get results in real estate.
What is one habit of yours that makes you more productive as an entrepreneur?
Follow-up, consistency, and persistency.
What was the worst job you ever had and what did you learn from it?
I haven’t ever had a bad job. I enjoy working!
If you were to start again, what would you do differently?
I believe I’ve made all the right choices.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
To understand the issue yourself – one cannot rely on other people. Be part of the solution. Understand the problem and contemplate the issue.
What is one strategy that has helped you grow your business? Please explain how.
Not setting specific goals. They were limiting to me. I always just told myself to do the best. I’m self driven and worked as hard as I could. Don’t listen to criticism. And don’t let other people tell you you’re being used and abused. Being in real estate takes a few years to make money.
What is one failure you had as an entrepreneur, and how did you overcome it?
Wanting to succeed big time in a very short time. Putting everything that you have into one venture hoping that you’re going to strike gold. The way to succeed is not the quick way but the long way. At school, I was selling art to temples in Israel. They were successful so I bought a huge amount of inventory and it didn’t go as well as I thought and took a long time to tell. I should have not tried to make a fortune overnight.
What is one business idea that you’re willing to give away to our readers?
Always follow up with every contact, every lead! You miss 100% of the shots you don’t take!
What is the best $100 you recently spent? What and why?
Dinner with my wife and kids, because family is the most important.
What software and web services do you use? What do you love about them?
Constant Contact – easy way to manage my tens of thousands of contacts
What is the one book that you recommend our community should read and why?
And the Good News Is … by Dana Perino because nothing is as bad as it seems!
What people have influenced your thinking and might be of interest to others?
David Hager, my partner, he’s smart, he uses psychology, he is always two steps ahead and a great thinker, as well as a visionary. Has a good view of world and economic affairs