Michael Jackson had a dream, and this dream was to own a house which had a built in amusement park exclusive for himself, his family and friends. That dream was Michael Jackson The King of Pop Neverland. What can we learn from Michael Jackson’s Neverland as full-time Canadian real estate investors?
Firstly, have a goal. Second, have a dream. Third, work towards the goal. Lastly, enjoy the fruits of your labour.
The mindset required to achieve Michael Jackson’s goal is no different than a real estate investor’s goal. The difference is he made a commitment to himself and stuck with it whether the times were good, bad or ugly, and found the financial means to do so.
The acquisition cost Michael Jackson's "The King of Pop" Neverland
Michael Jackson purchased the property for $19.5 million in 1987. The Michael Jackson's "The King of Pop" Neverland ranch was located in Los Olivos, California. The property covered over 2,800 acres of land and operated as Michael Jackson’s home residence and private amusement park.
Upgrading and renovating Michael Jackson's "The King of Pop" Neverland
Michael Jackson made several upgrades to the Neverland ranch over the period of his ownership. He added an extensive theme park including two railroads, a zoo, a huge floral clock, a ferris wheel, bumper cars, etc. The Neverland ranch was estimated to have cost over $10 million to maintain on a yearly basis.
Our next article will be addressing Michael Jackson’s foreclosure of Neverland.
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