Isadore H. May, Esq., is a New Jersey attorney with an office in Ventnor, New Jersey, whose primary area of practice is real estate and commercial law.
His law degree was conferred to him in 1985 by Antioch School of Law, and after being admitted to the Bar, Isadore worked with a law firm in Northfield, New Jersey, where his primary responsibilities were in family law, personal injury, and real estate.
During his late twenties, Isadore saw an ad for the auction of condominium property in the Atlantic City area. His successful bid to purchase the property was the start of his now long and successful career in real estate investment.
When he is able to, Isadore loves to travel the world. His extensive travel means he has seen much of the world and its different cultures, having visited every continent at least once. His most recent trip, to Cuba, helped deliver much needed medication and humanitarian aid to the Cuban people.
How did you get started in this business and what inspired you to?
After that first successful purchase and sale, I was hooked on real estate. I started small, going to tax sales and making small investments, and realized the great potential for return on investment. This investment grew, and I eventually opened my own practice, devoted largely to the purchase, service, and management of a growing real estate portfolio.
How do you make money?
When I purchase a tax sale certificate, if and when the property owner pays the taxes owed, and a redemption issued, I receive payment in the form of accrued interest.
From the time you created a real estate portfolio, how long did it take for you to become profitable?
This form of real estate investment realizes a quick return on a relatively small investment. Attending tax sales and purchasing a tax sale certificate is a straightforward investment that begins earning interest from the date of the sale.
When you were starting out, was there ever a time you doubted this would work? If so, how did you handle it?
I never doubted my success. When I first started, there were very few people aware of this type of investment, so there was not much competition. I focused on attending as many tax sales as I could, with the goal of purchasing the best available certificates for my portfolio.
What is the toughest decision you have had to make in the last few months?
I obtained a property as a result of a tax lien foreclosure, and soon after doing so, the previous owner contacted me in order to explain why he had failed to pay his property taxes. A work-related injury prevented him from working, and was dealing with workman’s compensation. Unfortunately, he was given some poor advice, and it cost him his home. I offered to sell the property back to him for what I paid for it when his workmen’s compensation claim was settled. Foregoing a profit from resale was a somewhat difficult decision to make, but the reward for me was the knowledge he and his family would remain in their home.
What do you think it is that makes you successful?
I love what I do, it’s that simple. There are always challenges when you are running a business, regardless of what type of business that is, but if you love what you do, and don’t dread going to work, it doesn’t seem like work.
What has been the most satisfying moment in business?
Interest rates and percentages are not intrinsically satisfying, and they certainly don’t appeal to one’s altruism, but I enjoy the business nonetheless. I find the process and the outcome satisfying.
What does the future hold for your business, and what are you most excited about?
A slower pace lies ahead. I plan to divest some of my properties, to work less, and to enjoy life and family more.
What business books have inspired you?
I usually read books on history or historical figures. I really enjoyed Bill O’Reilly’s books on General Patton and President Ronald Reagan.
What is a recent purchase that you have made to help with your business?
I recently purchased new computer software that makes managing my portfolio much simpler, which means I have more time for other things.