“Le Rêve” “The Dream.”
The Hubert Humphrey Story
In French, “Le Rêve” means “The Dream.” For one Atlanta-based entrepreneur who spared no cost in building his stateside chateau, Le Rêve translated into a nightmarish real estate loss.
One of the biggest and most expensive properties in all of Georgia real estate, Le Rêve took three years to build and nearly $50 million in construction costs. What makes the tale of this pricey property most startling are the dollars it ultimately fetched: A “mere” $11.5 million, according to WSBTV.com in Atlanta. That’s a whopping 75-percent drop from Le Rêve’s original list price of $45 million.
Le Rêve was the creation Hubert Humphrey and his wife, Norma. Their wealth was the result of a quintessential American rags-to-riches story, stemming from Humphrey’s beginnings as a railroad brakeman and conductor who could barely support his family of four to his later entrepreneurial successes. He sold insurance for A.L. Williams, where he earned record sales, then launched his own company, Humphrey Worldwide Network, before selling it to Primerica, which is now part of CitiGroup. He then formed World Marketing Alliance, followed by the World Leadership Group, a marketing, financial services and mortgage company based in Atlanta.
“The Hubert Humphrey Story”
In 2005, with the real estate bubble frothing, Humphrey began building Le Rêve, a Versailles-like compound on 72 acres that wound up almost as large as the White House. The palatial digs contain so many windows that it literally took two boatloads to import them from Europe.
Ultimately, explains listing agent Troy Stowe, Le Rêve was built without a budget.
“No expense was spared. It was built with the best of the best. Best craftsmen. The best material. It’s a masterpiece,” Stowe said.
But no-expenses-spared approach may have cost the Humphreys their house, Stowe said:
”You’re in this project and suddenly things get out of control and I think when they finished, they had created ‘the big dragon.’ ”
According to the Real Estalker, the home was listed shortly after it was completed for $45 million. Then the bank took possession of the property, hiring Stowe as the agent, and the list price dropped to $28 million, then $16 million before the new owners offered the sale price of $11.5 million.
Even with low mortgage rates, it would require a pretty steep monthly payment to float Le Reve, a home that has 82 rooms — 7 bedrooms and a whopping 14.5 bathrooms on a 72-acre plot. The house has more entertainment options than most luxury resort hotels, including an arcade, model train room, golf simulator, massage room, exercise facility, bowling alley and a remarkable home theater designed to mimic the Fox Theatre in downtown Atlanta. The theater has a faux theater front, concession stand and room for 27 viewers.
And that does not even account for what what sits outside the gated property, since Le Rêve comes equipped with its own campgrounds, an 18-hole golf course, private playground, sports courts, and stables.
Stowe said one of the hardest things about selling Le Rêve wasn’t the price but the upkeep.
” The Hubert Humphrey Story“
Purchasing the home is the easy part. It’s the maintenance that’s tough. A lot of people could have afforded that house, but when the past homeowners were living there with full staff, with upkeep and taxes, it was running a million a year. You stay there for 10 years and that’s $10 million.”
That kind of tab is about three times more than the $241,500 median sale price of homes in the Cumming real estate market.
The Hubert Humphrey Story
DO YOU THINK YOU CAN MAKE IT IN NETWORK MARKETING?
TIME TO TAKE ACTION!
Note: Before I get started let me say Humbert Humphrey has absolutely no affiliation with Empower Network.
Hey Guys … You got Charles Green here, I’m the guy to the right of Humbert Humphrey and the other guy on the left side of him is a dear friend and business partner of mine Carlos Lauro.
I will never forget that day back in 2006 in Las Vegas at one of our National Convention with a Network Marketing Company we was agents in called the World Leadership Group (WLG) headed by Hubert Humphrey CEO. WLG was a financial service company that originated Mortgage loans and sold Real Estate.
This was the day my vision was stretch so far on the possibility’s on the things you can accomplish in life.
Hubert was one of the first Leaders in this industry that built a team that grow into the millions when he was out in the field going back more than 25 years ago, Imagine that, and the crazy thing is everyone needed to go through the process of getting a life insurance license.
What a Crusade that was back than.
People follow leaders.
Something very smiler is happening right now as of the date of this post and the company is called the Empower Network headed by David Sharp and David Wood.
Here’s why I say this, Since Oct 31 2011 over 180,000 members join Empower Network in just 23 months and more the 70 Million dollars was paid out to it’s affiliate’s.
Empower Network was built for the people with it’s 100% commission plan.
I truly believe these guys are on that same type of crusade for the people moving with extreme momentum in the same direction hitting over a Million affiliates in the very near future like Hubert did many years ago.
All I can say is if your not in, GET IN Now. You don’t want to be one of those people saying I wish I could have gotten in back than like some many people said about Hubert Crusade with AL Williams many years ago.
In the 21 Centry Empower Network will Dominate the industry.
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