[Chapter 52: Buying a House]
After buying the car, John initially wanted to invite them over to his place but then thought better of it since he was still renting an apartment.
He told the two that he needed to prepare for house hunting tomorrow and since he was still renting, he wouldn't be able to invite them over. If only he had already bought a house, he would have gladly had them over.
Actually, both were eager to befriend John, curious to see how this young guy transformed from an everyday kid to a millionaire in just a few months.
They mentioned that they'd both be in Los Angeles the next day anyway and suggested touring Beverly Hills as a casual outing. Once John bought a house, they could all check it out together.
John jokingly said their lifestyle made him envious, which made everyone burst out laughing.
After wrapping up the day's business, John got ready to leave the dealership, instructing Bob and Joseph to each take one of the cars while Zach continued driving the old pickup, planning to sell it at a used car lot.
He bid goodbye to Mansour and headed back to his apartment.
---
Watching John and the others drive off in three cars, Mansour and Kenny, still at the dealership's lot, exchanged amused glances and started chatting.
"Mansour, why are you suddenly interested in that kid today?" Kenny asked, curious.
"Not much, really. When he first walked in, I thought he might be from some wealthy family. He didn't dress like it, but the Patek Philippe watch on his wrist was top of the line. Plus, the kid shares the same taste in Hummers as me, so I casually struck up a conversation. I ended up surprised -- he's only 17 but talks like he's way beyond his years. He knows who we are and shows no surprise at all. Calm as can be. I'm really looking forward to meeting up tomorrow," Mansour replied with a smile.
"True enough. Well then, let's enjoy our day exploring the City of Angels," Kenny nodded.
"OK, let's go!"
---
Early the next morning, John woke up unusually early. Today was house-hunting day. In his past life, Beverly Hills was legendary to him. With the chance to visit, he couldn't sleep from excitement.
Well, even though John was now worth millions, he still couldn't shake his status as an ordinary guy deep down.
Around 9:30 AM, Anna Baker from Citi Asset Management called, saying she was on her way.
When John and his two friends came downstairs, Billy Zahn was already there, chatting and joking with Anna. He was clearly making a move to get close to her.
You had to admit, even by John's critical standards, Anna was the epitome of American beauty.
John let Zach and Bob each take one of the new cars they bought yesterday, greeted Billy, and told them to lead the way.
Joseph was probably at home waiting, since he agreed the day before to hold tight for news about the house. Once John finalized the deal this morning, they'd get in touch with Joseph and his wife so they could move into the new place.
---
First, they looked at two small two-story cottages just south of Sunset Boulevard, with a small garden and a hefty price tag, given it was near Beverly Hills.
The neighborhood was nice, shaded by greenery with well-maintained landscaping.
Next, they arrived at a villa at the foot of Beverly Hills, which had caught John's eye the night before. They first saw an iron gate with automatic controls. Anna pressed a button, and the gates swung open.
The three cars drove inside a gated community spanning roughly a third of an acre. Standing in the middle was a two-and-a-half-story villa, around 3 to 4 thousand square feet in size.
In front of the villa was a parking lot where they parked their cars and got out to look around.
...
"Mr. Leighton, the whole estate is about 0.3 acres or around 13,000 square feet, with the villa covering nearly 4,000 square feet and the interior over 3,000 square feet. It includes five bedrooms, six bathrooms, a gym, and other amenities. There are gardens front and back, a backyard pool, and lush greenery all around. It's in the Beverly Hills area, which has great security and excellent access to transportation, shopping, and entertainment," Anna said, as they moved upstairs to the master bedroom.
The master suite was nearly 860 square feet, fully equipped, ready to move in. Apparently, Citi kept the place well maintained.
Next to the master bedroom was a small terrace, about 320 square feet, with a table, several lounge chairs, and a sun umbrella. Standing there and looking around, you couldn't help but feel refreshed.
John was very satisfied by the villa. Compared to his previous apartment, it was like night and day. He thought back to his old 860-square-foot flat from his past life -- it didn't even have a bedroom as big as this place. He felt a surge of pride.
---
They all sat on the living room couch, fully aware it was time to talk business. Whether the deal would go through depended on the next steps, so Anna and Billy both wore serious looks across from John.
Seeing John nod, Anna adjusted her seat and pulled out some documents. "Mr. Leighton, you've seen the details of the three houses. The two cottages are priced similarly, and Citi Asset Management is offering them at $1.5 million each. This villa here is priced at $4 million."
That's when Zach stepped in -- as the lawyer and legal guardian, it was his role to negotiate.
After some back-and-forth, and with John's final approval, they agreed on a cash purchase of the villa at $3.5 million, a one-time payment. The cottage south of Sunset Boulevard would be leased at $60,000 per year, and John decided this one would be for Zach to live in.
Although Zach wanted to delay the decision, he agreed under John's insistence.
---
From there, things went smoothly. With Zach handling the legal side, the contract with Citi bank was signed successfully. Payment? Easy. With John's account manager present, everything got done quickly.
As for the infamous high property taxes, John was unfazed.
Compared to some states charging 3% in property tax, California's rate was quite modest at about 1%, sometimes even less in some years.
That meant John would pay roughly $30,000 a year in property tax for the villa. Of course, this could be paid once annually before tax day - no need to pay it all upfront.
Every state's tax setup was a balancing act. Some had high property tax but low income tax; others, like California with its many wealthy residents, had the reverse.
Overall, America's tax system seems to hit the middle class hardest, since the rich had plenty of legal ways to reduce their tax burden.
With the signing and transfer complete, John officially owned the villa and could move in at any time.
*****
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