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Quality, not quantity, counts with math wizard, Betesh.


To hear David Betesh tell it, he was always drawn to real estate, having had a great understanding of finance and sales from childhood.

He credits his father with teaching him a great deal, and his experience at Eastern Union Commercial for having given him his hands-on training.

Ira Zlotowitz Ira Zlotowitz is the CEO of Eastern Union Funding, a large mortgage brokerage in New York City. He is the son of Rabbi Meir Zlotowitz.

Zlotowitz is also the creator of "Simple Remote"[1], a tracking software for the real estate industry. References

1.
, president of the company, gave Betesh all of his initial guidance when he joined the company and now Betesh passes his knowledge along to others as senior loan advisor.

"Brokers in the company come to me everyday and ask me for advice on their deals," David says The Right Reverend Richard David Say, KCVO, DD (4 October 1914 - 14 September 2006), former bishop of Rochester (1961-1988). He was often noted for his height (6ft 4in). Life
He was the son of Commander Richard Say, RNVR.
. "Whether they are stuck on a relationship with a bank or they need a cobroker, they know they can come to me to get the deal done."

In his last 50 deals, David says he has dealt with every conceivable con·ceive  
v. con·ceived, con·ceiv·ing, con·ceives

v.tr.
1. To become pregnant with (offspring).

2.
 type of transaction, but they all had one thing in common--good banking relationships. He has introduced the company to numerous new lenders and closed with ten new banks.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Betesh, too many borrowers believe they don't need a broker for their deal. "Often, I get from people who attempted to go to a lender directly and they call me in the 11th hour for help," he says.

Knowing how to analyze and spot a problem from the onset can eliminate a majority of issues within a deal.

When asked what are the most significant factors of his success, Betesh credits his understanding of human nature. Building owners often overlook the faults with their property. Bridging the gap between the bank and the owner is critical to closing a deal. He believes that standing "in their shoes" and seeing that everyone gets into the same mind-frame in a calm, consistent manner is also important.

A confessed work-aholic, Betesh is often in the office until 2:00 am to get a deal closed and thrives on examining every detail of a deal.

He says he enjoys working for a young and aggressive company and acknowledges Zlotowitz as the creative force who has given him the opportunity to take on some challenging real estate transactions, which to date total an impressive $150 million.

"I am not impressed im·press 1  
tr.v. im·pressed, im·press·ing, im·press·es
1. To affect strongly, often favorably:
 by the size of the transaction, but by the certainty of its execution," says Betesh. "Sometimes a $2 million deal can be more difficult to close than a $20 million one. When I take on a transaction, it's because I know I can get it done."

Labeled a "visual mathematician," in an IQ test, Betesh puts those skills to good use, looking at the numbers of a deal and finding the mistakes in their patterns. He expedites the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  process by being so facile (language) Facile - A concurrent extension of ML from ECRC.

http://ecrc.de/facile/facile_home.html.

["Facile: A Symmetric Integration of Concurrent and Functional Programming", A. Giacalone et al, Intl J Parallel Prog 18(2):121-160, Apr 1989].
 with numbers and their significance and counts on Eastern Union's full underwriting Underwriting

1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt).

2. The process of issuing insurance policies.
 staff and support personnel to help him get the job done.

David spent two years in commercial equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
  • Control secondary market, offer the ability to up-grade and trade-in.
  • Converts cash buyers of small machines to larger, more expensive purchases.
 prior to moving to commercial real estate at Eastern Union. After 9/11, he saw the decline in equipment leasing and anticipated that people would invest in the real estate market as a hedge against uncertain market conditions. His observations have proven to be right.

Today, cool-headed and consistent approach to business have earned him the respect of his peers who value his views on the market.

As we begin the New Year, Betesh predicts interest rates will continue their upward climb and, with property owners seeking ever-climbing valuations for their properties, he says, "The growth of the market will definitely be impacted.

"Most people doing condo conversions Generally stated, a condo conversion is a process of entitling an income property or other lands currently held under one title to convert from sole ownership of the entire property (which often already is a multi unit property) into individual for sale units.  today are a reaction to those who did it a year or two ago and made a lot of money. Every investor must anticipate the potential for reversals within his market."

He feels confident that the market can stay strong as long as the 1031 exchange stays in effect, because anyone who has to sell will buy again. "Smart people will continue to find good opportunities in any market, which allows real estate to continue to thrive."
COPYRIGHT 2006 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:PROFILE OF THE WEEK
Author:Betesh, David
Publication:Real Estate Weekly
Date:Jan 11, 2006
Words:663
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