A Visionary in Property Management and
Tony Balasuriya’s relentless work ethic, characterized by holding down multiple full-time positions, has been at the core of his success story. From an early age, he demonstrated an unwavering commitment to hard work and persistence in pursuit of his goals.
Off to a Fast Start
Tony’s journey began in his parents’ property management company, Metro Serendib, Inc., located in Los Angeles. While studying business administration and finance, he took on the role of an on-site manager for a senior apartment building and became his father’s rental agent. Eager to learn various trades, he attended classes at Home Depot during his free time, gaining expertise in plumbing, electrical work, and more. Tony’s thirst for knowledge and hands-on approach led him to obtain his California realtor’s license at the age of 21, marking the beginning of his successful flipping career.
CEO for One of California’s Largest Property Owners
In 1993, Tony assumed the position of Director of Property Management and, within a year, became the CEO of one of California’s largest property owners. Under his leadership, the company’s portfolio grew exponentially, with approximately 15,000 units directly managed and an additional 33,000 units under asset management. Tony also expanded the construction crew to handle the substantial workload efficiently. His dedication and ingenuity played a crucial role in developing personalized Windows-based accounting and construction software for property management.
Learning the Nitty-Gritty of HUD Housing
Eager to expand his knowledge in Section 8 and Section 202 housing, Tony joined G&K Management in 1997, even with a significant pay cut. His expertise in handling stressed inventory and HUD properties proved invaluable when he took over his family’s acquisition and management of HUD properties.
National and International Expansion
In 1999, Tony assumed control of his father’s company, rebranded it as Terra Bella Investments, and expanded its operations globally. The company undertook large-scale projects across the United States, including land subdivision development, condominium construction, and hotel projects. Tony’s astute business sense led him to establish a working office in China, significantly reducing construction costs by sourcing materials directly from Chinese manufacturers.
Return to a Rising So Cal Market
During the instability of the 2007-2008 US housing market, Tony wisely invested in Melbourne, Australia, capitalizing on its high growth potential. His strategic decision-making and keen market insights led to profitable ventures in the Australian market. In 2010, he relaunched Metro Serendib, Inc., as Terra Bella Investments and returned to the Southern California market in 2012 when it was poised for growth. Since then, Terra Bella companies have been actively involved in fix-and-flip projects and multi-family property acquisitions.
Sights Set on a Huge Housing Need
With a visionary outlook, Tony recognized the need for affordable housing solutions in Melbourne, Australia, which faces severe housing shortages. He aims to introduce innovative multi-family concepts prioritizing sustainability. Tony’s dedication to creating a better future and maximizing returns has earned him recognition as an industry visionary. His passion for addressing the housing crisis and providing affordable living spaces reflects his commitment to positively impact the world and leave a lasting legacy for future generations, including his own family.