Real estate royalty Herschel Jawitz comes clean about his money habits, beliefs
Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his weekly “Make Money Mondays, Personal Edition” feature.
“Growing up in a property family meant that my property career began when I was a child,” says Jawitz.
Jawitz has a degree in Finance and an MBA from the University of Cape Town.
He joined the family business in 1998.
When he’s not working, you’ll find Jawitz - “a proud Jozi resident” – at the Kruger National Park or training for Ironman.
What is it that Jawitz believes about money?
Does it keep him up at night?
Does he spend like crazy or save compulsively?
How did his childhood experiences shape his views on money?
I remember going to show days with my father on Sundays… He was always out. We were always eating dinner at eight-o-clock, to my mother’s horror…Herschel Jawitz, CEO - Jawitz Properties
I’ve invested in property – some of your financial advising co-hosts will be horrified – almost all my eggs are in the residential market… I’ve never been a good speculator… On the odd occasion, I tried to make a quick turn… it hasn’t turned out particularly profitable; I guess like the cobbler who has no shoes.Herschel Jawitz, CEO - Jawitz Properties
I have a soft spot for nice clothes… [if it wasn’t for that] I could probably have two or three more property investments. If I could have my time over, I would do it differently.Herschel Jawitz, CEO - Jawitz Properties
Listen to the interview in the audio below (and scroll down for more quotes from it).
… the best buyers’ market we’ve experienced since the early 2000s… Activity has been better than we expected… We’re not sure if it’s just pent-up demand, or what we call a dead cat bounce…Herschel Jawitz, CEO - Jawitz Properties
The days of being tied into long leases are gone…Herschel Jawitz, CEO - Jawitz Properties
There was a gap in the market for someone who understood people. The rest is history.Herschel Jawitz, CEO - Jawitz Properties
I was always destined to come into the business… To my dad’s credit, he never insisted it was a family business…Herschel Jawitz, CEO - Jawitz Properties
I returned from the States around 1998. The property market was probably worse than it is now… It’s worked out pretty well.Herschel Jawitz, CEO - Jawitz Properties
We have our odd glare and stare at each other. Issues around remuneration… family and money don’t go particularly well together.Herschel Jawitz, CEO - Jawitz Properties
We’ve bought well. But always with a long-term view… A slow, steady build… There’s little reason to change that strategy.Herschel Jawitz, CEO - Jawitz Properties
The idea of buying a fix-me-upper… those ones have gone particularly badly…Herschel Jawitz, CEO - Jawitz Properties
I have on the odd occasion made a habit of turning rands into dollars at exorbitantly weak exchange rates…Herschel Jawitz, CEO - Jawitz Properties
This article first appeared on CapeTalk : Real estate royalty Herschel Jawitz comes clean about his money habits, beliefs
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