Distressed Properties Expert
Metropolitan Realty Group
March 2003 - present
Marv’s Real Estate Story, Rich Dad-Poor Dad
In the late 1960’s and early 1970’s, Marv’s family owned a Real Estate Brokerage firm in the South Sound Region, Western Washington. For those that were around at that time might remember the billboard sign that asked, “would the last one leaving Seattle please turn out the lights? (*)” The economy at this time was actually very similar to today’s economy, at least the housing sector. Seattle is much more diversified in the jobs market now, but housing is very similar to then.
At that time, HUD owned most of the distressed properties, so if you were buying Foreclosures, you were buying them through HUD. Marv’s dad was doing just that; buying these homes, fixing them up and “turning” (flipping) some and holding others. His Father purchased many rentals and other investment properties this way and eventually retired on the income from his real estate holdings.
Upon graduating, Marv began his career as an independent contractor. The inspiration for this came from those early days as dad’s helper on these weekend HUD fixer-uppers. Parallel to the contracting career, Marv was also evaluating and purchasing distressed homes as investment vehicles (again, dad’s influence). Some of these properties won big and a couple not so big, but all of those experiences had value. Most of the “risk-level” was reduced through Marv’s construction experiences and prior teachings by dad. But without the construction knowledge, it would have been difficult to make an informed evaluation of the investment properties for sure.
It wasn’t much after Marv’s transition to Licensed Real Estate Agent did he realize that it would be a benefit to his client if he also held a Mortgage License.
You see, a mortgage salesman has to make his money on the higher interest rates while Marv makes his living, paid by the seller of course, as a Real Estate Consultant/Advisor. Searching and seeking out the best buy for his clients is his passion. When asked, Marv says “The reward my clients receive from this dual-advisor role is that I don’t make my living off of interest rates, my living comes from finding the perfect home for my clients. Because I am state licensed as an advisor for both, I can help my clients avoid the pitfalls of these bad loans and high interest rates. Ethical behavior has kept and will continue to keep my clients out of trouble.”
One example of this is a couple who were referred by another client, met with Marv in 2007 for an initial consultation. Marv was able to determine quickly that the priced home they were looking for was not within their means. They refused to believe the actual number they qualified for and soon found another agent/loan officer “team” that told them “yes, we can do it”. Fast forward to 2009 and this couple is informed that they “should get an attorney” by their new FBI neighbor after they revealed to him that they received bogus “advice” from this fraudulent real estate ring that had just been arrest. Additionally, none of the 24+ payments had even made it to the lender, but instead, to this ring. This is an obvious extreme case, but right now is a good time to find an qualified and ethical lender (****).
Location is not everything. . .
“So many agents will say, Location, Location, but really there is so much more to it. My clients rely on my years of experience in construction, contract law and real estate knowledge. You can’t really expect agents who have not had these experiences to be in a position to help the clients mitigate their risk. I take a lot of pride in my ability to consult with my clients at a high level based upon my 33 years of personal/business experiences,” Marv says. “The protection of my clients and their family’s future is priority one to me”
Today, Marv is The Premier distressed properties expert based on his years as a contractor, real estate investor, Agent, Lender, Property Manager and business owner. So if it is a goal of yours to mitigate your risk by buying at a discount, Marv is the one to help you achieve the status of Homeowner or Investor.