Bruce Marks Takes Owner Financing To A New Level
People who become wealthy wholesaling real estate are business geniuses. Fortunately, they’re also generous, and willing to share their secrets with others. It seems that real estate entrepreneurship and philanthropy go well hand-in-hand. In fact, I just recently heard an interview on public radio that sparked my interest. Bruce Marks, a business mogul from New York, has started an entire nonprofit giant. His success is based on the idea that generosity can pay enormous dividends.
As an MBA graduate from New York University, Bruce Marks has a competitive advantage in the business world. The time he spent working as a regulator at the Federal Reserve Bank in New York further honed his business skills. He learned about ethical standards of practicing business, and took that knowledge to Boston to work as an activist for the hotel workers’ union there. After that, Marks took a job as the Executive Director at the Union Neighborhood Assistance Corporation (UNAC) in New York. He became so successful attacking predatory lenders in New England banks, he eventually started his own nonprofit organization, the Neighborhood Assistance Corporation of America (NACA).
NACA is working hard to reverse the financial ruin caused by sub-prime lenders. They offer free services such as credit counseling and rehab assistance, and home owners can refinance their high-interest or adjustable-rate loans without paying any fees. They help new home owners secure affordable mortgages without down payments or closing costs. Marks believes that the only way lenders can truly become successful is by allowing their customers to thrive.
Marks always has a campaign going to combat the corrupt lending practices many banks put in place. Currently, he’s attacking banks like Countrywide who offer sub-prime or adjustable-rate loans. His aggressive attacks against greedy lending institutions give him notoriety among many banks, and popularity with others, like Citigroup, who have formed partnerships with NACA to offer affordable lending solutions to their clients.
Real estate investors are so happy with their success, they’re quick to both boast about their deals and share knowledge with others. Bruce Marks’s business follows that model. While he earns money as a financer, he also repairs peoples’ credit and offers them the opportunity to live the American Dream. When everyone benefits, we can all enjoy the REI Lifestyle.
If you want to learn more about real estate investing and “The REI Lifestyle,” please visit Wholesale Real Estate, then visit Michael Kimble’s blog at Wholesale Real Estate blog.
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