When David Luria was 15 years old, he started working in real estate. By 16, he became an executive assistant at Fred Leeds Asset Group, and by 17, when he graduated a year early from YULA High School, he began working for Leeds full time.
“Stocks were scary and just numbers on a screen. Buying bricks and giving someone a home sounded much more concrete.” – David Luria
Along with managing thousands of apartments as well as commercial real estate properties with big box tenants such as Dollar Tree, CVS and The Home Depot, Luria started his own asset management company, SD Realty, with his friend and fellow YULA graduate Simmy Goldberger, who serves as managing director. Now, the two have experience managing and investing in properties all around the United States. “I invest in real estate because I like tangible things,” Luria, who grew up in Los Angeles, Seattle and New York, said. “Stocks were scary and just numbers on a screen. Buying bricks and giving someone a home sounded much more concrete.”
When the young entrepreneur first started out at Fred Leeds’ company, he was an intern for a month.
“I was shredding papers eight hours a day,” he said. “They gave me more and more tasks. And the more I did, the more they trusted me.”
Every day, Luria wakes up around 5 a.m. and exercises. He goes to work between 7 and 9 a.m., works with Leeds until 5, and then goes home and focuses on SD Realty.
“I like to work,” he said. “I graduated early because I’m not much of a school person.”
Currently, Luria owns multiple single-family homes in Ohio because it’s an easier market to get into than L.A. “It’s the seventh most populated state and the rents are high,” he said. “It’s good for cash flow. In LA, all the taxes and tenant laws have made investments hard to manage.”
Luria enjoys working with and learning from Fred Leeds, whom he calls a father figure and “a great family man. He gives everybody the time of day no matter who they are. He’s always smiling. He’s a hard worker and very sincere.”
Luria has known the Leeds family since he was in the third grade and became best friends with Charlie, Fred’s son. “I have seen David grow up through Yavneh elementary and middle school and YULA High School, excelling at anything he put his mind to,” Fred said. “Through COVID, difficult times with apartment residents, insurance companies and retail, David shined with finding solutions when issues arise. [He is] brilliant and capable.”
Fred’s wife, Dina, echoed her husband’s feelings. “Don’t ever discount or write off youth, as many of them are a diamond in the rough just waiting for the right opportunity to shine and show you their value,” she said. “David was always an incredible kid, but what an extraordinarily responsible and talented young adult, and businessman, he has turned out to be.”
Luria credits his support from the Leeds, as well his mom and stepdad, for his success. He hopes to return the favor to his parents one day. “Fred takes care of his family, and I would love to do the same for mine,” he said.
Ultimately, Luria is going to stick with asset management, which, as a people person, he enjoys. But he also keeps a grounded perspective in mind when things get tough and clings onto his faith. “Assets won’t make or break whether I’m happy or not,” he said. “I try to be relaxed. As cliché as it sounds, I leave it up to God.”
