Carl 'Tom' Hallen, CFA is the broker, and you'll be working directly with him. He has an MBA degree from Duke University and a BS in Electrical Engineering from University of Massachusetts.
He worked as a Portfolio Manager/Investment Analyst in the money management industry for about twenty years before getting into the real estate business. He managed a $100 million equity portfolio for Pacific Income Advisers in Santa Monica and a small long/short hedge fund for Ion Partners, LLC. He was also part of a 3-person team that managed a $2 billion portfolio for The Duke Endowment in Charlotte, North Carolina. Prior to going to graduate school he was an electrical engineer in the semiconductor industry. New Hope Realty began in the Los Angeles area in 2012 but now services San Diego North County.
Mr. Hallen decided to get a real estate broker license to learn how to buy at foreclosure auctions. He was on a foreclosure tour in Las Vegas in 2009, and one of the sponsors was trying to flip their properties to people on the tour. This company bought a 2-bedroom, 2-bath condo for $80,000 and sold it four days later for $119,000. They were buying at the county foreclosure auction, and their profits piqued Mr. Hallen's interest in learning how to buy at the courthouse steps.
When you buy at these auctions there are no agents, no inspections, no escrows, no appraisals and no commissions. The buyers have to learn how to research title-related issues and how to value properties, often without getting to see the interior. After doing his own research he purchased three rental properties at the Clark County, Nevada foreclosure auction. Just about all the information needed for research was available online for free, and it made him question whether brokers in listed transactions deserve the high commissions they usually make.
Personally, he has finished four 26-mile marathons since 2006 and admits his finishing times are not impressive! He has volunteered with Meals on Wheels and HOPE (Helping Other People Eat). He is a cancer survivor. Doctors told him in 1996 that he had six months to live. Click HERE
to see him finishing the 2013 LA Marathon.
New Hope Realty, Inc. 1084 N. El Camino Real #B281 Encinitas, CA 92024