The following morning, I promptly reached out to multiple real estate agencies and ultimately selected one with favourable terms and a solid reputation.
"I have a few specific needs. Beverly Centre, South Coast Plaza, Hollywood and Highland Centre, and Montana Street are essential!"
Kyle continued to point at the map while addressing the middle-aged African American man in front of him.
The chosen locations are all prominent areas known for their high foot traffic in the Los Angeles region.
"Rest assured, our expertise will surely meet your expectations," the middle-aged man assured with seriousness.
Kyle acknowledged this and replied, "Alright, this is the major I want. Can you arrange for me to see it soon?"
"Three days!"
The man gestured confidently.
After the agent left, Kyle sat in the house alone, contemplating, "Once I have secured a few stores, I will head to Pixar Animation to visit Steve Jobs."
Just when he was going toward his shop, he met his neighbour John Smith.
"Hey Kyle, how are you? I haven't seen you for ages. Where have you been?"
As soon as he opened his mouth he started rambling questions toward Kyle. John is one of Kyle's few friends, he is also a neighbour of Kyle. Both parties have a good Relationship and Kyle also considers John as his good friend."
"Nothing John, just business, I have started to manage my shop," Kyle replied
"Oh, so that's it. I thought you went on a trip or something and left me alone. ok Kyle, bye and all the best."John replied
"Bye, John"
Then Kyle went to his shop, humming an unknown tune.
....
Three days later.
With the help of the real estate agent, Kyle explored numerous commercial streets in Los Angeles, particularly those close to popular movie theatres, such as the areas surrounding Hollywood Cinema Theatre, Universal Studios, and Disney Studios.
During the following week, Kyle focused on movie-related chain stores.
Ultimately, seven locations were chosen, all of which were prime spots.
He acquired the storefronts of three of the stores and opted to lease the other four.
"This is outrageous! I spent nearly $2 million on the three stores. After factoring in the rental costs for the four stores, my initial $2.62 million is now reduced to less than $100,000."
Kyle felt a deep sense of loss!
The amount of money spent was far beyond his expectations. The prices for shops, especially in busy areas, were extremely high.
"I had to secure three shops and then approached the bank for a loan before heading to Pixar Animation Studios."
Despite the high costs, Kyle believes it will pay off. Once "Toy Story" is released, he anticipates that he will recoup and even multiply his investment.
...
Kyle had no option but to approach the bank for a mortgage loan.
I genuinely don't have any funds!
There was under $100,000 remaining in the account. Not to mention negotiations with Pixar Animation; even the renovation expenses for the seven movie-themed stores would likely run into the hundreds of thousands of dollars.
Being familiar with the area, this time Kyle opted for the Los Angeles branch of Wells Fargo Bank once again.
"Mr. Page, it's great to see you back!"
Smith Miller, the senior manager and head of the loan department in the branch, was directly accountable for attending to Kyle.
The service was surprisingly excellent.
With coffee and snacks provided, and a warm, enthusiastic tone, how could the service be anything but good? For Wells Fargo at this point, a client with millions of dollars stands out as a significant customer.
"To get straight to the point, I'm seeking a loan of at least $3 million this time!" Kyle was direct.
$3 million?
When those words were spoken, Smith Miller was taken aback!
This sum may not be substantial for Citibank, but it is considerable for Smith, who manages loans at the branch.
It could even be classified as enormous.
In the year 2020, Wells Fargo would undoubtedly be a giant.
With deposits exceeding $1.8 trillion, its market value surpassing $200 billion, and branches located throughout North America and many places globally, it was a massive entity. However, Wells Fargo's current market value is merely $480 million, making it a small player within the American banking sector.
"Indeed, that's $3 million."
After Kyle concluded his remarks, he stressed, "If that's the case, we won't be able to collaborate this time."
"Alright... Mr. Page, please permit me to make a phone call. Considering the significant amount, I trust you can understand." Smith Miller clenched his teeth.
"Sure, I'll await your positive news."
Kyle was in no rush. He took a sip of his coffee and nibbled on some snacks, feeling quite pleased about being valued in the millions. With Smith leaving, Kyle's mind began to wander.
"It's unfortunate that I'm out of funds at the moment. If only I could invest in Wells Fargo, it would surely yield great returns."
Kyle was unable to contain his excitement. The $480 million market value of Wells Fargo would eventually soar to over $200 billion, marking a growth of more than 400 times, which was astounding.
In simpler terms, a $1 million investment today would turn into over $400 million by 2020!
What a quick way to amass wealth!
"Damn, traversing time is fantastic. There's opportunity everywhere!"
Five days later.
Kyle made another visit to the Wells Fargo branch in Los Angeles.
With the presence of a lawyer, the loan agreement was signed with great happiness.
The agreement encompassed a total of US$2.4 million, which included US$2 million in mortgage loans for seven stores and US$400,000 in personal credit loans; the duration was set at three years, and the interest rate was reduced by 3 percentage points from the previous loan, now at 9%, meaning Zhuke was obligated to pay the bank US$216,000 annually, totalling US$648,000 over three years.
Black!
So dark!
"I'm going to purchase a bank in the future and have my bank lend me money!"
No One Can Make Money From Me Again.
In reality, Kyle was taking things for granted, or he lacked legal knowledge.
He was completely unaware that his bank couldn't lend money to the companies registered under his name, and that related transactions were prohibited.
Putting complaints aside, I still have to admire Wells Fargo's boldness. It's no wonder it grew so large later.
This is because Kyle does not grasp financial concepts. If he did, he would likely be even more impressed. You see, during the global subprime mortgage crisis of 2008, investment banks like Citigroup, Bank of America, and Goldman Sachs faced significant losses, amounting to hundreds of billions of dollars, while Wells Fargo managed to thrive amidst the turmoil.
....
In the period that followed, Kyle reached out to a decoration firm, specifically one that had relatively affordable rates.
After spending $200,000 on the renovations, he started organising the refurbishment process. The typical renovation expense for each of the seven locations was under $30,000. It should be noted that Kyle had a background in the entertainment sector in his previous life, and he was quite obsessed with maximising cost efficiency.
The decoration of the shop cannot be described as exceptionally simple, but it is certainly very standard.