I began my real estate career in Arizona working for Empire West Corporation- a Tucson based developer of large apartment complexes. My enthusiasm, drive and capabilities soon caught the attention of the Company.s owners who personally mentored me for a period of nearly four years. During this time my responsibilities grew rapidly, and I soon became a project manager for several successive 300-500-unit complexes. My responsibilities included managing contractors, quality control, leasing and maintenance. The owners offered at their expense to send me back to college for formal training in the economics of real estate so that I could advance to upper management levels in their business, ultimately dealing with banks, investors and syndications. Of course the understanding was that I would come back to their company continuing as an employee. This was very generous offer but I ultimately decided to strike out on my own getting my real estate license. By doing this, I could represent real estate to Buyers or Sellers, and structure the transaction as the situation required. High-level investment analysis I accomplished by taking the appropriate CCIM investment classes. I judged this pathway would fast track me toward my true goal that of becoming my own boss. Being in charge was necessary, since I would later perceive in late 1985 a rapidly changing real estate market full of developing opportunities that others failed to see early on.
The 1986 Tax Reform Act adversely and severely affected real estate investments and in no small way was responsible for the failure of the savings and loan industry in this country. Suddenly many of the tax benefits of owning real estate disappeared, capitalization rates changed, values fell, and a real estate recession began in earnest. It culminated by the government formation of the Resolution Trust Corporation (RTC) whose purpose was to dispose of the real estate litter coming out of the savings and loan industry. Residential and commercial properties were foreclosed by the thousands. Phoenix was especially hard hit with prices declining dramatically. At this time much of Phoenix.s growth was fueled by home building and many of the occupants of these new homes were occupied by construction workers, real estate agents, mortgage originators and others. We were thus hit by the double-whammy of foreclosures and high unemployment.
I recognized at this time that as construction workers were leaving Phoenix, other people were replacing them. People from all states, especially from California, began a migration into Phoenix to take advantage of low priced housing and expanding job markets in non-construction related fields. While others were lamenting the real estate disaster, I thought of the opportunity this created. In the years 1989-1991, you could buy single-family homes that suddenly made investment sense. The plan I developed was that of buying homes and renting them to the people displaced by foreclosure and those moving to the area who wanted to rent awhile before buying. Owning these homes was so popular with investors that it catapulted me into the ranks of the top 30 producers in Phoenix within 18 months. My investors came from California, the Midwest, Canada, and as far away as Australia. The market was most attractive to experienced investors who could see through the negative chatter of most local real estate agents, media doomsayers, and knew themselves how to figure a deal. Many of my investors, however, began their investment careers with me. They were the adventurous ones-seeking opportunity and yet needing a mentor to steer them into good transactions. My real estate experience and background in financial analysis helped many of the new and small investors lay the foundations for their wealth building plans. Most are still with me and have been so for the last 10 to 20 years.
Right now, I strongly believe Phoenix is building another superior investment opportunity. Similar to the opportunity of the past, but sufficiently different that it must be adjusted to current unfolding new demographics and financing plans. If you have capital to invest please contact me by e-mail or phone and we will discover if we have an "investment fit."
• Awarded as top 1% Realtor based on total units sold, top 5% in total commissions and multi-million dollar
producer several consecutive years.
• Represented hundreds of investors from all parts of the United States and Canada, seeking investment property in
Arizona. (Single family, multi-family, land and office buildings).
• Owned and operated a property management company with over 250 properties.
• Rehabilitated well over a hundred single family homes, many small multi-family units (including a 22 unit and an
88 unit complex).
• Understand and have worked the process of subdividing land.
• Represented bulk purchases from various lending institution.
• Worked with many 1031 exchange transactions.
• Negotiated directly with financial institutions (short sales, forbearances, and note restructure).
The above history has been presented to demonstrate that I have a long practical history of working with and for investors. It is my hope that you find within this history, some aspect that you as an investor find valuable.