The NY Times has written an impressive obituary for Jerry Buss, the Los Angeles Lakers' owner. Real estate investors will be interested in this quote.
"Buss worked in aerospace technology for Douglas Aircraft in California as a young man. But his life changed in the wake of a small investment he made in 1959 to buy a West Los Angeles apartment building together with a former college friend, Frank Mariani. Profiting from a Los Angeles real estate boom, their company eventually owned hotels, office buildings, apartments and one-family homes."