Adam Milstein is the current managing partner of Hager Pacific Properties, and he is believed to be among the most successful real estate investors in the country. After making significant moves in the real estate, he has also become a committed Philanthropists and has subsequently founded Adam & Gila Milstein Foundation which he co-founded together with his wife, Gila. Milstein is an Israel-American who was born in Israel but has spent his career days in America. Adam is also the founder of the Israel-American Council which is the largest of all organizations of its kind in the country.
Adam Milstein is in his later 60’s, but he is still very energetic and productive in his duties. He believes in starting his day with the most challenging assignments and ending it with the simplest. As a real estate person, he has been able to amass a lot of wealth from the industry which is still doing very well. The company, Hagar Pacific properties have been able to expose his too great challenges in his career which have made him a hugely influential figure in the industry. The company manages more than 100 properties worth more than $1 billion as well as being the top rated property seller across the country.
Adam Milstein Career Background
Adam Milstein after his secondary level joined the Israel defense forces around early 1970 and served in the Yom Kippur War. He was able to defend his country with focus and also determination in a mission to create a peaceful co-existence. Adam later joined Technion Israel Institute of Technology for post-secondary education. He earned a bachelors of science degree in Economics and Business which was an essential tool for his career growth.
While at the Technion, Adam used to work at his father’s real estate company. He was able to grow regarding experience. This was very advantageous when he took over the leadership of Hagar pacific Properties based in Los Angeles.
After graduation, Adam and his family left for the United States where they wanted to grow. He immediately enrolled for a masters degree in Business administration at the University of California.
Banyan hill senior editor and financial writer championed the concept of freedom checks for many years. In the early 1980s, the US government committed itself to a reduction of oil and gas imports, which was due to over-dependence of the government on oil and gas imports from the Middle East. Congress enacted a new law called Statute 26-F that gives tax benefits to companies that engage in the production of oil and gas within the country. The law encourages the US citizens to invest in the natural resources sector.
Statute 26-F allowed the formation of Master Limited Partnerships (MLPs) which are publicly traded. MLP is a company that deals in the production, transportation, storage and processing of oil and gas in the US. Investors buy shares in the MLPs and the capital raised is used in the production of oil and gas through the purchase of infrastructure, paying workers and marketing the products generated after exploration and processing.
The payments that the investors receive are referred to as freedom checks and are payable on a monthly or quarterly basis. Checks follow the concept of dividends paid on stock shares, but unlike dividends, Checks do not attract income tax. In case an investor wants to sell their shares in an MLP, they are charged tax at the capital gains tax which is lower compared to income tax. Investment in this sector is, therefore, more favorable than in any other sector as long as an investor selects an MLP that will grow.
Currently, there are over 550 MLPs in the US in the oil and gas sector. The government also allows real estate investment trusts to apply to be MLPs. There trusts mainly generate income from rental properties and also pay at least 90 percent of their earnings to their shareholders. The advantage of freedom checks is that investors with as low as $10 can still invest and watch as their money grows over the years. Unlike many get rich quick schemes that are scams, freedom checks are legitimate, and all that an investor requires is an investment in a master limited partnership, and the earnings start coming.
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