George Yessaie, CCIM, is the Senior Vice President of JohnHart’s Commercial Real Estate Division. Mr. Yessaie’s experience as an investor and asset manager for his own portfolio of properties spans 25 years and enables him to combine transactional expertise with a strategic approach informed by his insider perspective and insight. He specializes in the purchase and sale of multifamily and commercial properties as well as the execution of 1031 Exchange transaction throughout Los Angeles.
He enjoys a solid track record as an independent investor, having acquired more than 20 multifamily properties along with development land since 1986. Mr. Yessaie has built a lucrative personal portfolio, and he has managed a portfolio of more than 200 apartment units. He has also participated in two condominium projects, successfully selling all units and executing 1031 Exchange transactions for all the partners involved.
Mr. Yessaie quickly distinguished himself after transitioning to a full-time career in commercial real estate by earning Associate of the Year status for his 2013 productivity, ranking among the Top Producers at his firm and earning Principle status in a very short time. He again ranked among his firms Top 10 Producers in 2015 and 2016. In 2014, George was honored by the San Fernando Valley Business Journal for his achievements as a newcomer in the industry.
He is one of the few agents to have earned the illustrious and rigorous Certified Commercial Investment Member (CCIM) designation, recognizing him as an expert in the commercial and investment real estate industry.
Prior to his career as a Commercial Real Estate expert, Mr. Yessaie enjoyed a long tenure as a software engineer, structural engineer and scientist. In that capacity he managed and delivered high-level projects to Fortune 500 companies including GM, Boeing and Airbus. His own personal success as an investor motivated him to embark on a new career helping others to create prosperous real estate portfolios and lasting wealth.
• University of California, Irvine, B.S. degree Summa Cum Laude, Civil Engineering
• University of California, Berkeley, M.S. degree, Civil Engineering
• Certified Commercial Investment Member, CCIM, 2013
• Member, Glendale Board of Realtors
• Registered Civil Engineer, California
There are wide array of benefits for buying real property. From social to economic, and even political, benefits of owning real property can't be easily counted. Real property offers an anchorage to family geographic zoning. Owners enjoy the benefits of forming closer connections with their community, through local businesses, schools, worship places and neighbors.
As always, economic benefit is a good starting point. Did you know that by paying $900/month rent you are throwing away $54,000? Yes, rent is a waste of money. Rent can't be even claimed in tax returns. In contrast, monthly payments towards mortgage payment plan will expand homeowners' wealth as equity is created. Moreover, buying a real property increases credit rating through regular payment history and location security. Even more, real property buyers can claim interest in their yearly tax returns (consult a tax expert for more details).
On the political level, homeowners exercise more influence on political decision makers. Because most county and state profits are based on real property taxes, politicians answer demands of property owners before renters (who are usually relocating). For example, when the financial crisis struck the U.S. markets in middle of 2007, the federal government quickly enacted laws to protect property owners. The same issue played a crucial role in 2008 Presidential elections.
In addition to economic and political benefits, real property buyers enjoy better social standings. Because property owners are more constraint to move, they form social networks with their local community. Neighbors invite each other for birthdays and other events. Housewives form local groups to help raise the children of the community. Even in safety, most communities utilize local neighborhood watches to keep crime level at a low level.
Finally, by buying a real property, individuals achieve the American Dream. Thanks to the U.S. government system, ownership rights are at the foundational core of the United States. A sense of accomplishment and satisfaction beholds property owners as they are free to express themselves within their own castles. Buying real property is as simple as desires of potential buyers.This information is an estimate and for research purposes only. The estimate is based on prevailing rates typical in the industry and your own input concerning salary and assets, which JohnHart has no way of verifying. The estimate does not purport to include every potential expense involved in purchasing a home (including but not limited to taxes and HOA fees) which can vary widely by property and location. Neither JohnHart nor any of its affiliates make any warranties or guarantees in any way about the likelihood of obtaining a loan for a house and on what terms (if at all) a prospective buyer may be able to obtain a loan. Prospective buyers must consult a lender for qualification and for terms of qualification according to a buyer’s financial situation at the time and the property sought. This information only represents an estimate based on average financial terms prevailing at the time and may be different from what you see from a lender depending on, amongst other things, your individual financial situation and time period during which you seek a loan.