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What happens when a Hollywood producer trades movie sets for multifamily properties? Michael Jacobs, founder of Mar Vista Entertainment (sold to Fox Studios), shares his transition from 25 years in entertainment to building a vertically integrated real estate empire in Pittsburgh.
[00:01 - 08:05] From Hollywood Producer to Real Estate Investor
- Built Mar Vista Entertainment from a 2003 business plan to Fox Studios acquisitionSpecialized in $5M-and-under movie production for Netflix, Disney Channel, LifetimeThe decision to transition away from Hollywood's demanding travel scheduleStarted with three duplexes to test the rental market in Pittsburgh's Squirrel Hill
[08:06 - 15:40] Building a Vertically Integrated Real Estate Business
- How frustration with general contractors led to building an in-house construction teamThe challenge of 100-year-old infrastructure: cast iron pipes, knob-and-tube wiringExpanding from rental properties to becoming one of Pittsburgh's premier design-build firmsWhy complete gut renovations became the standard approach for old housing stock
[15:41 - 22:10] The "Singles and Doubles" Business Philosophy
- Why avoiding the pressure for home runs and grand slams builds sustainable businessesThe danger of social media hype and "get rich quick" mentalitiesHow to test, measure, and scale gradually while watching the numbersBalancing tenant satisfaction with property upgrades to reduce turnover
[22:11 - 28:40] Final Four & Building for the Future
- Worst job: Cleaning motel rooms for $6/hour time-and-a-half on SundaysParadigm-shifting book: "Buy Back Your Time" by Dan MartellSkill to learn: Guitar (joining the ranks of aspiring musical entrepreneurs)Success definition: Providing for family and keeping nine children and two grandchildren happy
Connect with Michael:
Website: https://marvistadb.com
LinkedIn: Michael Jacobs
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Tweetable Quotes:
"The numbers drive everything at the end of the day. " - Michael Jacobs
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