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In 1977, when I was 19, my mom died and I used my $30,000 inheritance to purchase my first house in Montauk, NY which I converted into an 8 bedroom bed & breakfast to generate income for my college tuition as well as pay the mortgage. By purchasing and selling distressed real estate (i.e. Foreclosures, REOs, and Short Sales) as well as implementing Internal Revenue Code Section 1031 Exchanges to legally avoid¹ paying Capital Gains Tax and Federal Depreciation Recapture Tax at time of sale, I was able to achieve great real estate wealth at an early age.
In today's troubled economic climate, I specialize in helping clients purchase undervalued real estate that is Foreclosed (i.e. REO), Short Sale or Distressed due to the owner's personal financial situation. In addition, I help clients who are in |
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financial distress and possibly confronting foreclosure by educating them about Short Sales, refinancing as well as other options that may stabilize their monetary situation.
Helping clients achieve their visions, success and a secure financial future are the primary reasons why I became a real estate professional. Since, the forthcoming years may bestow uncertainty and volatility, I provide a foundation of stability, sound advice and logical solutions. |
