Name: Edward Shapiro
Title: Principal
Company: Infinity Capital LLC
Location: 295 Turnpike St., Canton, MA 02021
Birthplace and year: Lynn, MA - 1946
Family: Wife Joanne; sons Jason and Keith
College: University of New Hampshire - BA Economics; Babson College - MBA Finance
First Job in Finance or Allied Field: Touche Ross - staff accountant
First job in finance or allied field: Started Shapiro Financial Services in 1997
What do you do now and what are you planning for the future? We continue to match clients with sources of debt financing; we will shortly offer a project for investing in real estate tax liens on a national scale.
Hobbies: Walk, lift weights and play golf
Favorite book: "Mansions on the Hill"
Favorite movie: "The Great Escape"
Person you admire most (outside of family): Malcom Brown (CEO at Bank for Savings - Malden)
Key to success: Persistence
If you had to choose another vocation what would it be? Golf Pro
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property