Ed Kaminsky Your real estate investment is one of your most valued assets. Ed Kaminsky and the Kaminsky Real Estate […]

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Ed Kaminsky Your real estate investment is one of your most valued assets. Ed Kaminsky and the Kaminsky Real Estate Group are prepared to pro-actively guide you through today’s complex real estate market.

• PRESIDENT/FOUNDER OF KAMINSKY REAL ESTATE GROUP the leading team at Strand Hill Properties, Christie’s International Real Estate based in Manhattan Beach, CA, with an annual sales volume of over $218 million (2017).
• PRESIDENT/FOUNDER OF SPORTSTAR RELOCATION assisting professional athletes nationwide with their relocation and real estate needs
• PRESIDENT/CO-FOUNDER PREMIERE ESTATES AUCTION COMPANY represents luxury property owners, developers, trusts, and financial institutions across the United States with professional auction services and sales
• PRESIDENT OF CONSERVE DEVELOPMENT a design & development firm that reconstructions & revitalizes residential properties throughout the South Bay and surrounding Los Angeles areas.

 

Episode Highlights Here:

 

Ed

understand what that is, understand the consequences of selling it and the consequences of keeping it and then make those determinations.

 

Brett

But what is the number one secret to do when your home price or your, you know, home property values are quadrupled in value, and a possibly downward shifting market?

 

Ed

You know, I think you’ll always have to look at long term planning. That’s the first thing. It’s not what you have to do right now to protect yourself in this downturn that might happen like Oh, my God, I better sell immediately. But where do you want to be five years from now? 10 years from now, 20 years from now, understand what that is, understand the consequences of selling it and the consequences of keeping it and then make those determinations if you’re going to be, you know, delivered an onslaught of millions of dollars, instantly. What are your tax consequences? And are you prepared to deal with those? If you held the asset where you’re carrying costs? And are you comfortable with dealing with the maintenance and the carrying costs that it has? So you’ve got to answer those questions. It’s different for everybody. But I think it’s just digging down into those answers.

 

Brett

So number one is long term planning, understanding the big picture of the asset, the long term consequences of holding on to it, the long term consequences short term consequences of selling with tax consequences. I think that’s a good point, you may have carrying costs, right? Because some of these larger properties with rising costs and rising inflation and rising labor costs, it can be really expensive, right? So you want to make sure that you’re building a solid long term plan. Is that a fair summary?

 

Ed

Yeah, absolutely. I think we forget about some of the ongoing maintenance that happens like you’re gonna have to replace the roof every 15 years and plumbing and electrical and things like that. So those are costs you have property tax, you have a lot of differences the bigger the estate, the more expense, right? You have landscape costs, water costs, etc. That can be cumbersome depending on how big the asset is.

 

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About Ed Kaminsky

What to Do When Your Home Quadruples in Value In a Possibly Downward Shifting Market with Ed Kaminsky

Ed Kaminsky is an expert in the Real Estate industry. He has been named one of the Top 100 of America’s Top Performing Real Estate agents by The Wall Street Journal, and was awarded Best Marketing Campaign for a property in 2013, by Leaders in Luxury. Ed has been licensed and practicing Real Estate in the South Bay and greater Los Angeles communities since 1987. Ed and his dynamic team have been featured on ESPN, FOX, NBC, ABC, BRAVO!, HGTV and THE FINE LIVING CHANNEL. The team has been seen on The Today Show, HotList, Cold Pizza, Real Estate Confidential, Good Buy, Bad Buy and The Sports Business Journal. Ed has been found regularly in The LA Times, The Daily Breeze, The Beach Reporter, The Orange County Register, The LA Business Journal, The Boston Globe, REALTOR magazine & Top Agent Magazine. Ed Kaminsky is the President and owner of ItzSold, Inc., a Real Estate marketing group based in Manhattan Beach, CA, with an annual sales volume of over $180 million. He is the President/CEO of SportStar Relocation, assisting professional athletes nationwide with their relocation and Real Estate needs. He owns and operates Premiere Estates Auction Company, which represents luxury property owners, developers, trusts, and financial institutions across the United States with professional auction services and sales. Finally, Ed is the President of Conserve Development, Inc., a design & development firm that reconstructions & revitalizes residential properties throughout the South Bay and surrounding Los Angeles areas. Ed Kaminsky has served as an expert panelist for the South Bay Board of Realtors, and the Mike Ferry Organization; the leading nationwide Real Estate training group in all of America. He’s also on the board of directors for The Friendship Foundation in the South Bay, a non-profit dedicated to making a dramatic difference in the lives of children and young adults with special needs and their families, through one-to-one peer mentoring & social-recreational programs. Ed is a member of both the Manhattan Beach & Hermosa Beach Chamber of Commerce, and remains an active member of his community. Ed Kaminsky was born in Ohio and resides in Manhattan Beach with his wife Cindy and two dogs (Jake and Nala). He has lived in Manhattan Beach for 17 years, and says he’s never leaving! Ed enjoys staying active, cooking great food, going to concerts & spending time with his 2 daughters and grandson Hunter!

 

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