Eli Fried is our real estate specialist here at Kars4Kids.
Hi, Eli! What do you do here at Kars4Kids?
I’m in charge of the Real Estate Donations Department. I mostly review the properties of potential real estate donations. I need to make sure they can actually benefit us before we accept.
Some properties might actually be a liability because taxes or maintenance costs, and have very little resale value.
I’m also involved with other financial aspects of Kars4Kids, like mortgages and endowments.
Can you describe your background?
Sure! I’ve actually been investing since high school. When my mother saw I was interested in finance, she bought me a copy of “Investing for Dummies.” After reading that, I sold 100 shares of Citibank stock which I had received as a gift and reinvested the money in various securities. That was my start in investing!
I eventually went into real estate investing. I was involved in real estate investments for about 10 years before I came to Kars4Kids. I dealt with buying and selling commercial properties.
I also read a lot. In all, I’d say I’ve read over 100 books on economics, investing, and finance.
Can you tell us about any unusual donations you were offered here?
We were once offered property in Hawaii that was actually destroyed by a volcano! The property was worthless because the volcano is still active, making any practical use of the land impossible.
Another time, someone wanted to donate a bad investment that he bought: an abandoned brake factory! Nothing could be developed on that land because of all the industrial waste.
What do you do for fun?
I like reading. I have a subscription to “The Economist,” which I read scrupulously. I also enjoy learning about science and technology.
In my off-time I like to spend time with my family and find quiet spots for contemplation.
Thank you, Eli!