Years after the worst housing crisis, Baltimore is still trying to pick up the pieces. The effects of the crisis still continue to be felt in Baltimore and beyond.
In a bid to rescue the real estate sector, bank-arbitrated sales were released in the form of foreclosures. The sales of the home dropped by 7% in 2016 compared with the previous year. After the crisis, the State of Maryland changed the regulations in the real estate sector. The changes that were done made the industry consumer friendly.
The city experienced progress in the housing sector which translated to an increase in sales. The median house sale price in Baltimore and the surrounding counties has increased by 6% between April 2015 and May 2016, according to a data from Google.
The modifications in the real estate sector had an impact on all the real estate investors like Todd Lubar.
About Todd Lubar
Todd joined the real estate industry in 1995. His fascination for the industry led him to launch his real estate Company. It soon became apparent to him that real estate and finance were his forte. When it came to his career, Todd Lubar combined his desire to help people and love for real estate and finance.
His career in business began when he joined the Crestar Mortgage Corporation. In his About.Me page, he posted while working for the Company, Todd gained knowledge on mortgage banking which proved to be a valuable experience in his career. He managed to develop a relationship with both financial and real estate experts.
1999 turned out to be an outstanding year for Todd as that was when he acquired an equity position at the Legacy Financial Group. The position gave the opportunity to build and expand his lending business. He gave loans to clients both from outside and through the Mortgage Bank.
During this period, his real estate business had taken a backseat, but in 2002, he decided to take it to the next level. That was when he established the Legendary Properties Company. The Company was focused on residential properties. Through the Company, Todd was able to buy, rehabilitate, and selling different properties ranging from single to family-units.
In 2003, he opened Charter Funding which was a subsidiary of the First Magnus Financial Company. He later formed Legendary Financial Company. The Company was designed to offer loans to both individuals and companies.
During 2007 and 2008 financial crisis, Todd changed his focused and was involved in other types of business including commercial demolition.
Additional Reference: https://www.crunchbase.com/person/todd-lubar#/entity