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Hitting Pay Dirt In California's Real Estate Rush; REAL ESTATE; Equity fund manager Robert Dixon knows all about home sweet home.(SERIES: THE NEW INVESTOR)(IBD SPECIAL REPORT)

Investor's Business Daily

| May 02, 2005 | COPYRIGHT 2005 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: DONNA HOWELL

Robert Dixon is modest about his good fortune. He says he was in the right place at the right time: San Francisco in the booming late 1990s.

It turned him on to real estate, in what's been a case of rewarding mutual appreciation.

"If my first house hadn't appreciated so dramatically, if that first investment hadn't worked out so well, I probably wouldn't keep hitting that button," said the 34-year-old, who has several property investment experiences under his belt.

Dixon is a husband and father of 3 who manages a private equity fund as his day job. He was just out of business school when he bought his first home in 1998 in San Francisco's Richmond district for $440,000.

"The market was so outrageously good that it seemed like a good idea to buy more," he said.

Dixon thought about investing in just REITs, real estate investment trusts. But he decided he could get a much better return from the hands-on approach.

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