That financial world fell apart when George H. W. Bush said “read my lips, no new taxes” well that was a lie because the first thing he did was to redo the tax system and he killed the real estate market. In fact, he put the entire Savings and Loan industry completely out of business with his new tax system. To put the damage in perspective I was worth $6 million dollars, owned 130 apartment units and rental houses. I owned 20 vacant residential building lots and I was building 15 new houses every year. I had purchased a Trustworthy Hardware store that we had expanded it adding a full blown lumber yard. I was still receiving commissions and residuals from my financial planning licenses. I made $385,000 in 1987 which with inflation is equivalent to $916,000 today. With the money rolling in I purchased a 26 acre farm. I subdivided off two, 2 acre lots, I was able to sell the lots for what I had paid for the entire 26 acres. I designed and built a 10,000 square foot home that had 5 bedrooms, 6 baths and 7 fire places. The home was 4 stories tall and had 50,000 oversized bricks with a cedar shake roof and 5,000 square feet of custom finished 3/4" hardwood floors.
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