Another Side of Bob Hope

Savvy Real Estate Investor

The world will remember Bob Hope for the pure enjoyment he gave us during his long years in the entertainment industry, for his love of golf and the work he did to promote that sport, and for his dedication to lifting the spirits of our US armed forces. But did you know he was a very successful real estate investor?

Bob began buying California real estate early in his career, focusing on land purchases. He was even known as "Mr. Real Estate," because he owned so much land. Funds from oil well investments that performed well made it possible to add even more land tracts to his portfolio. His buddy, Bing Crosby, used oil investments to purchase California real estate, too. Smart guys--we all know what those properties are selling for today!

Hope gave some tracts of land to conservancy groups, but most land disposed of was sold. He was an aggressive owner who was prepared to fight for his rights and property values when a local community tried to acquire a portion of his land through condemnation proceedings.

Bob and Dolores Hope bought their Toluca Lake, California, home in 1940. The family also owns a 25,000 square foot home in Palm Springs.