Feb. 14, 2022

Flipping Mansions w/ Lloyd Segal

Flipping Mansions w/ Lloyd Segal

Lloyd Segal From Wikipedia, the free encyclopedia Lloyd Segal (born 22 March 1948) is the President of the Los Angeles Real Estate Investors Club, author, real estate investor, mentor, and national public speaker.


Lloyd Segal

From Wikipedia, the free encyclopedia

Lloyd Segal (born 22 March 1948) is the President of the Los Angeles Real Estate Investors Club, author, real estate investor, mentor, and national public speaker.[1][2] He is also the former President of the Will Rogers Polo Club.[9]

Early life and education

Lloyd Segal was born and raised in the Squirrel Hill neighborhood of Pittsburgh, Pennsylvania.  He is the eldest of five children of Seretta (nee Ruben) and Harold Segal, both business leaders in Pittsburgh.  The family belonged to the Tree of Life Synagogue, where Segal celebrated his bar mitzvah.

Segal attended Wightman Elementary School and Taylor Allderdice High School, graduating in 1966. In high school, Segal was on the cross-country, basketball, and debate teams. In the summer after graduating high school, Segal worked for Jett’s Traveling Circus and Petting Zoo, traveling all over the Midwest. During his senior year, Segal was the student producer of the television program “Our Place” on WQED-TV. During the summer of 1965, Segal attended Camp Graylag in Pittsfield, New Hampshire. The camp was owned and operated by legendary Boston Celtic and basketball Hall of Fame star Bob Cousy.

Segal attended Boston University, Boston, Massachusetts, from 1966 to 1970, graduating with honors in Business Administration, pre-law.  In his freshman year, Segal was a disc jockey on WTBU-AM, the university’s popular radio station.  During his senior year, Segal was Concert Director, producing musical concerts on campus, including The Who, James Taylor, the Jefferson Airplane, Richie Havens, Dione Warwick, Seals & Crofts, Buddy Miles, Tim Hardin, Chamber Brothers, Tom Rush, Melanie, Chicago, and Chuck Berry.  After graduation, Segal hitch-hiked across Europe and then spent a year as a volunteer at Kibbutz Amir, in Kiryat Shimona, Israel.

After taking two years off, Segal attended Southwestern University School of Law, Los Angeles, graduating with a Juris Doctor in 1975. During his junior year at Southwestern, Segal originated the University’s Speakers Program and acted as its Chairman. He brought such legal scholars to the school as former U.S. Supreme Court Judge Tom Clark, attorney Louis Nizer, Watergate attorney (and future TV star) Fred Thompson, former attorney general Ramsey Clark, author Mark Lane, Secretary of Interior Stewart Udall, Presidential candidate Eugene McCarthy, attorney F. Lee Bailey, Robert Kennedy’s campaign director, Frank Mankiewicz, California Supreme Court Justice Stanley Mosk, and Congressman Paul McCloskey.  At the end of the school year, Segal was awarded a “Distinguished Service Award” by Southwestern’s Student Bar Association.  In his senior year, Segal was elected President of the Student Bar Association.  During his senior year as President of the SBA, Segal also wrote a weekly column entitled “The President’s Message” in the law school newspaper, “The Commentator.”  In addition, Segal wrote an opinion piece entitled “Glut of White Faces” which was published in the January 1975 edition of Juris Doctor national magazine.  By the end of his senior year, Segal was selected for the 1974-75 edition of the “Who’s Who Among Students in American Universities and Colleges.”  Southwestern’s Student Bar Association also honored Segal with its highest award, “Certificate of Distinguished Service,” the first time a student had won the award two years in a row.  On March 9, 1975, the American Bar Association (law student division) honored Segal with an award for “In recognition of Outstanding Contribution.”  Segal also studied international law at the University of Innsbruck, Austria.[11]

Career

Segal began his legal career in 1977 as an attorney at Diamond, Tilem, Colden and Emery, in Beverly Hills, California, specializing in entertainment law, with an emphasis on music performers and recording artists. 

In 1978, Segal transitioned to Of Counsel to the law firm so that he could open his own personal management firm. He went on to manage the careers of numerous recording artists including The Flying Burrito Brothers, John Stewart, Leda Grace, Levi and Rockets, Byron Berline and Sundance, Doug Kershaw, Dixie Dregs, Manfred Mann, Terry Reid, and Nick Gilder. He received a Gold Record from the Recording Industry Association of America (“RIAA”) when Nick Gilder’s single “Hot Child in the City” went #1 on the Billboard’s Top 100 Hits and in the United States, sold over a million records. 

In 1979, Segal received a Platinum Record from the RIAA when “Hot Child in the City” sold over two million records. In the same year, he started his own record company, Regency Records, distributed by Atlantic Records, specializing in rock n’ roll and motion picture soundtracks. Regency’s first release was the Flying Burrito Brothers album “Live in Tokyo” produced by Segal. During this period, Regency also had commercial successes with the Dutch group, Diesel, who had a top-ten hit with the song “Sausalito Summer Nights,” and with Steve Gillette’s duet with Jennifer Warnes “Love the Good Things We Had” that was a hit on the country charts (produced by Segal). 

In May of 1980, the Pittsburgh Press daily newspaper profiled Segal in an article entitled “City ‘Music Man’ Noted for his Skills at Managing.” In December 1980, Student Lawyer Magazine (American Bar Association) profiled Segal in an article entitled “Beyond Legal Practice.” 

After Regency’s distribution deal with Atlantic Records ended, Segal signed a new long-term distribution deal with MCA-Universal in 1981.  Also in 1981, Segal produced the soundtrack to the hit movie “Airplane.”

On February 24, 1982, Segal was nominated for a Grammy by the National Recording Academy for “Best Comedy Album” of the year for producing the “Airplane” soundtrack.  It was also the largest selling album in the history of Regency Records.  That same year, he was awarded a “Certificate of Appreciation” by the Los Angeles Lawyers for the Arts, in recognition of his on-going pro bono legal services to the theatre and performing arts community. 

Between 1987 and 1990, Segal was also a volunteer attorney for Bet Tzedek Legal Services, providing pro bono legal work for indigent defendants in real estate matters. 

In 1988, he worked on the campaign staff for Bill Press’ campaign to become the United States Senator from California. 

In 1990, he closed Regency Records to spend more time with his expanding legal practice and his burgeoning real estate activities and joined with attorney Richard Sablowsky to form Segal & Sablowsky, with offices on Beverly Hills and Washington, D.C.  Among his many cases in the following years were a series of high-profile Chapter 11 bankruptcy cases involving multi-million dollar real estate projects in serious financial distress.  The Orange County Register reported that Segal represented the Lancer Landing office building in Newport Beach, California.  Lancer Landing filed Chapter 11 bankruptcy in the United States Bankruptcy Court for the Central District of California.  In Re Lancer Landing, Ltd. involved over $20 million in assets and $19 million in debt. 

In 1992, he represented the debtor in the case entitled In Re Anaheim Electric and handled the appeal to the Bankruptcy Appellate Panel for the United States Bankruptcy Court (137 B.R. 791). 

In 1994, as reported in the Los Angeles Times, Segal represented the debtor in the case In Re OCPC, Ltd., in a Chapter 11 case in the Central District of California, United States Bankruptcy Court, involving another $19 million office building foreclosure. 

In 1995, the Daily Journal newspaper reported that Segal represented the Debtor in the Chapter 11 case entitled In Re Montclair Retail Center, LP, an appeal to the Bankruptcy Appellate Panel for the Ninth Circuit, of the United States Bankruptcy Court, Pasadena, California (177 B.R. 663).  In all of these cases, the Court issued written opinions that were based, in part, on briefs written and argued by Segal. 

On October 19, 1996, Segal received a “Certificate of Appreciation” for speaking at the Annual Conference of the National Association of Tax Practitioners, Millbrae, California.

On October 16, 1996, Segal’s law partner, Richard Sablowsky, committed suicide as he could no suffer through Multiple Sclerosis. In 1996, Segal’s first book, “Stop Foreclosure Now in California; Save your home if you can – save your credit if you can’t” was published by Nolo Press (Berkeley, California), helping distressed homeowners avoid losing their homes in foreclosures. Segal dedicated his book to the memory of Richard Sablowsky. Based upon his book, Segal found himself in demand as a guest speaker traveling around the country. He was a guest speaker at Coldwell Bankers’ “International Real Estate Conference” in Orlando Florida. On May 1, 1998, he was the featured speaker at the Women’s Counsel of Realtors, at the Great Western Forum Club, Inglewood, California. Segal was also a guest speaker at Pepperdine University, Malibu, the CPA Forum of Orange County, Mission Viejo, the Southland Regional Association of Realtors, Van Nuys, the Inglewood Association of Realtors, Riverside Association of Realtors, and the Downey Association of Realtors.  

Between 1998 and 2007, Segal continued to speak at numerous real estate groups, service organizations, and industry events throughout the United States, including Realty 411 Expos (Seattle, San Jose, Anaheim, Phoenix, Los Angeles, and San Diego), and REI Expos (Baltimore, Houston, Dallas, and Anaheim), and real estate organizations in Salt Lake City, Nashville, Dallas, Austin, Fresno, Seattle, Portland, Tucson, Orange County, San Diego, San Jose, Denver, Boise, and Chicago, and numerous national services groups like Rotary, Lions, Kiwanis, and Optimists.[6]

Based upon his books and real estate experiences, Segal started buying distressed multi-million dollar properties in Los Angeles County, rehabbing them, and then either selling them (“flipping”) or renting them.  Over the years, Segal has fixed and flipped houses in Woodland Hills (2), Tarzana (3), Burbank, Glendale, Hollywood Hills, Hancock Park, El Sereno, North Hills (2), Panorama City, Beverly Hills, Mission Hills, Laurel Canyon, Encino, Calabasas, and Los Angeles.  As a result, the Wall Street Journal profiled Segal in the story “The Big Flippers” by Janette Tanaka. 

In November of 2016, Segal was elected President of the Los Angeles Real Estate Investors Club, the oldest (1996) and largest investor group in California.[5] The Club focuses on providing its members with – (1) education, (2) networking, and (3) mentoring. The Club holds monthly meetings, vendor expos, seminars, workshops, boot camps, weekly wholesale deals, LAREIC University, and a loan center. As President, Segal oversees all activities and committees and writes a weekly “Economic Update” which is emailed to over 52,000 real estate professionals in Southern California every Monday morning. 

Publications

Lloyd has published the following books,[4][7][10]

  • Everything You Wanted To Know About Chapter 11 Bankruptcy…But Were Afraid To Ask (booklet – 1990)
  • Stop Foreclosure Now in California (published by Nolo Press, Berkeley, CA) (1996)[3]
  • Stop Foreclosure Now (published by the American Management Association, New York, NY), selected the Best Personal Finance Book of the Year 2009 by USA Today Book News (2007)
  • Foreclosure Investing (published by Regency Book, New York, NY) (2012)[8]
  • Flipping Houses (published by Regency Books, New York, NY) (2014)

Polo

A horse-enthusiast his entire life, Segal took polo lessons in 1987 at the Los Angeles Equestrian Center in Burbank and joined the United States Polo Association. 

On April 14, 1988, Segal was selected for the United States team playing an Israeli team in a Pro-Am polo match charity event for the Soldiers of Israel at the LA Equestrian Center. 

In 1990, Segal joined the Will Rogers Polo Club (13th oldest polo club in the United States) in Pacific Palisades. 

In 1991, Segal’s team won the prestigious Will Rogers Memorial Tournament.

In 1993, two years later, his team won the Will Rogers Memorial Tournament again, only the second team in the 39-year history of the Tournament (at that point) to win twice. The same year, he was elected President of the Will Rogers Polo Club and served as President of the Club for nine years (1993-2002). 

On September 22, 1994, Segal was profiled by Mary Moore in her story “Hard Times on the Polo Circuit” in the Los Angeles Times.  The story highlighted the dangers in playing polo and the hard life of professional and amateur players as they deal with constant injuries and enormous costs. 

On March 30, 1995, Segal was honored with a “Spark Plug” award by the Pacific Palisades Chamber of Commerce for “Resurrecting Polo at Will Rogers State Historic Park and Conducting Charity Events.” Segal was also honored with a “Certificate of Appreciation” from the California State Assembly in Sacramento for raising over $100,000 for various charities, including the American Red Cross, National Kidney Foundation, Screen Actors Guild Foundation, Habitat for Humanity, Nicole Brown Simpson Charity Foundation, Vista Del Mar Family Services, Hemophilia Foundation of Sothern California, Catholic Big Brothers, and Cedar-Sinai Hospital, among others. 

On April 3, 1996, Segal was profiled by Sandi Gibbons in her story “Lawyers in Love – With playing Polo” in the Los Angeles Daily News. 

In June of 1998, Segal was interviewed in Southern California Sports Magazine in its article “Polo; A Gentlemen’s Sport in Spirit Only.” 

Similarly, on August 17, 2001, the Los Angeles Times (Westside Weekly) featured Segal in its story “The Sport of Kings California Style.” 

When speaking to groups, Segal often says that people don’t appreciate how truly dangerous polo really is, “It’s like hockey on horses – and the horses don’t know how to skate!” He says “they call polo a gentlemen’s sport in the same way they call a tall man ‘shorty.’” Segal famously says “I have broken so many bones that when I go to the bank, I make calcium deposits.” But the players truly love their horses. Segal retired his favorite horse ‘Ruby’ in 2006. “Ruby passed away several years later. Over 30 people attended Ruby’s funeral!”

Philanthropy

In 1972, Segal volunteered for a year as a farmworker on Kibbutz Amir, in Kiryat-Shmona, Israel. 

Between 1978 and 1984, he was a participating attorney in UCLA’s Lawyers for the Arts, providing pro bono legal services to artists needing help with music, theater, and performing arts legal matters. 

On February 24, 1977, he was a guest on a panel entitled “Live Theater Updates” at the Greater Los Angeles Press Club.

Between 1987 and 1990, Segal was a volunteer attorney for Bet Tzedek Legal Services, providing pro bono legal services to indigent defendants in real estate legal matters. 

In 2005, he was a volunteer for the Committee organizing the charity event “Covenant With Youth” Gala for the Covenant House in Los Angeles.

Segal is currently a volunteer with Mercy Ships, which provides humanitarian services for populations that suffer natural disasters. In 2005, Segal traveled to New Orleans after Hurricane Katrina struck the city and killed over 1,800 people, and left thousands more homeless. He volunteered in the clean-up and recovery efforts. 

In 2010, Segal traveled to Port-au-Prince, Haiti, after the earthquake devastated the country’s infrastructure, killed over 250,000 residents, and left thousands more homeless and hospitalized. He volunteered in the clean-up, relocation of the homeless, and aiding doctors with attaching prosthetics.

References

  1. Lloyd Segal
  2. Lloyd Segal
  3. Out & About
  4. Flipping Houses: Secrets to Finding, Fixing, and Flipping Houses
  5. Lloyd Segal
  6. ABOUT US
  7. Flipping Houses: Secrets to Finding, Fixing, and Flipping for Profit Paperback – May 29, 2013
  8. Around Whittier: Dec. 13
  9. Luxury Real-Estate Flippers
  10. Around Whittier: Dec. 13
  11. About us
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  • Born in 1948