Adam Milstein was born to Eva née Temkin, a homemaker, and Hillel Milstein, a real estate developer. He moved from Israel to the US in 1981 to pursue further education. After earning an MBA degree in entrepreneurship from the University of Southern California, he kicked off a career in Commercial Real Estate; as a broker for three years and then an investor thereafter. Many people had gone to campus recruiting for jobs, but he felt they did not appreciate his life experience and knowledge. After being on his own for some time, he partnered with David Hager to form Hager Pacific Properties.
Years of hard work secured Hager Pacific Properties’ partnership their fair share in the market. Today, Hager Pacific owns and manages over 100 properties throughout US – which includes 2,300 apartment units and 12 million square feet of industrial and commercial property.
Milstein, the Hagen Pacific Properties developer is not shy in admitting to a couple of mistakes in his formative years, though. Like, wanting to succeed in a very short span of time and putting all his investments into one venture hoping to strike gold. However, experience has taught him better. He is now of the opinion: there is nothing like an overnight fortune. Sometimes, it takes years before a venture can begin making money. The best traits for an entrepreneur, therefore, are persistence, consistency, and ability to follow up with every contact and lead.
From his interview with IdeaMensch, Adam Milstein does advice young entrepreneurs to seriously follow up with their contacts. This is something he personally does with his tens of thousands of contacts using the software Constant Contact. Additionally, he says self-drive and diligence do pay off. However, he advises against setting specific goals at the start-up level of business because it is limiting. Milstein says he has never had a bad job and that is because he enjoys working.
In his own words, he says “Don’t listen to criticism, and don’t let other people tell you you’re being used and abused.”
Finally, he advocates for a concerted initiative to understand issues as opposed to relying on others’ take on matters. He believes in understanding a problem, contemplating the issue, and offering solutions.