Thomas Pearlman of Pearlman Premier Properties

Chris Best (0:05)

This is another episode of Best Practices. I just finished up interviewing Tom Pearls of Wisdom Pearlman and Holy Smokes. It was so, so good. I probably forgot to ask him a few things, but I got most all of them out. And he is just a legend in Ferndale. And, you know, Ferndale has basically kind of grown up around what he has started back in the 80s. It just he's been a big part of the evolution of Ferndale. And I guess the Rust Belt and every other business in the downtown has him to thank. Super, super great guy, as you will hear.

And just enjoy yourself, because this was really somebody I've been trying to get for a long time. I don't know what made him finally agree to interview me. I think it was the last city council meeting where I spoke on behalf of one of his other tenants. And he finally agreed, but I won him over in the end. So I'm glad he did it. And without any further ado, enjoy the show. Tom Pearlman.

Welcome.

Tom Pearlman (1:15)

Thank you for having me.

Chris Best (1:16)

Thank you for being here and taking the time out of your busy day. I've been trying to get you to talk to me for a while now, and I really appreciate you finally, finally agreeing to it. What made you kind of come around and want to talk to me?

Tom Pearlman (1:31)

I'm just, you know, I'm a talker, so I'm good to go. Yeah.

Chris Best (1:37)

Well, I can't stop thinking about our conversation that we had at Honeydirt, that you were so gracious to share with me. And I was inspired. I was inspired before we had that conversation, just knowing what little I know about you. And then you started telling me some of the back story about the bars that you started and the law firm that you worked with. And I know that's just the tip of the iceberg with your story. So why don't you? Well, before I get in, you tell me your story. I want to introduce some people may or may not know if they don't live around Ferndale.

Tom owns buildings in Ferndale. And nine-mile and then some on Livernois.

I'm guessing what, like probably 20 properties.

Tom Pearlman (2:28)

We have 20, about 25 buildings, but I own many more that I've bought and sold over the years. Okay, yes, that's true.

Chris Best (2:38)

So people may know of you just reputationally. And Tom, for me, having 15 years of being a business owner in Ferndale, Tom has a tremendous reputation as a landlord. I know a lot of the tenants that have rented from him, and nobody has ever spoken poorly of him. And that is an amazing thing as a landlord. And it just speaks volumes about how you run your business. You are yourself a business owner in Ferndale, which probably helps.

Overall, you've been in Ferndale doing this for about 30 some years, you said?

Tom Pearlman (3:20)

Well, yeah, I opened my office in Ferndale in 1981 Wow.

Chris Best (3:27)

So take us back to the beginning of how you got this whole thing.

Tom Pearlman (3:32)

Well, I started, I was work, graduated law school of Wayne State, was working at a law firm, and for some crazy reason decided to open my own office.

And my best friend who's still my best friend, we were talking and his brother had an office in Ferndale. And I talked to his brother and they had space, so I subletted an office in the building I'm still in, to this day, for $50 a month.

Chris Best (4:13)

Now you didn't own it then.

Tom Pearlman (4:15)

Oh no, no, I had no money, no clients, no money.

Chris Best (4:20)

What was your area of law?

Tom Pearlman (4:22)

I was just starting, anything I could do. So my first client was another good friend of mine. Her mother had me do her will.

And I then would go to all the local courts to get court appointments. And the judge in Ferndale, his name was Voss, Judge Voss back in that day. And he kind of took me under his wing and gave me a lot of court appointments. And I would do mediations for small claims and things, you know, they would pay $150.

Chris Best (4:56)

How old were you at this time?

Tom Pearlman (4:58)

I was 24

Chris Best (5:00)

Wow.

Tom Pearlman (5:02)

So I was sharing an office. So the main people in the office, it was in the building, was all dentist offices, mostly dentist offices, old dentist offices and dental labs. And I had one of the rooms where the chair was, it's a tiny room. And my uncle bought me a desk for $100.