you'd like to share with us? we'd love to hear it. send me an e-mail or go to our website -- strangeinheritance.com >> i'm bob massi. for 32 years, i've been practicing law and living in las vegas. i help people with all sorts of real-estate problems, from trying to save their homes to closing major deals. eight years ago, 6,000 people a month moved here, looking for employment and affordable homes. little did anyone know that we would become ground zero for the american real-estate crisis. now, it's a different story. the american dream is back. we're gonna meet real people who faced the same problems as millions across america, and we'll dive deep into a city on the rebound because las vegas was a microcosm of america, and now vegas is back. [ woman vocalizing ]

i'm coming to you from the world-famous neon museum, right here in downtown las vegas. it's often said that vegas was a microcosm of the entire united states. and when it comes to the real-estate market, nothing crashed harder or bounced back quicker. but rebuilding your dreams is not always easy. now we're going to 23 1/2-year retired air force veteran grady. thank you for your service and thank you for allowing us in your home today. >> sure. >> and your wife, of course. now, let me ask you, when did you buy the home that we're sitting in right now? >> we moved in in early 2006. >> boy, that's when vegas was booming with building, wasn't it? >> it was. it was the single-story community that we wanted. >> at what point did you realize that you were gonna be faced with a problem as it relates to value and what was owed on the home? >> 2006, 2007 were okay -- all house payments made, everything made on both of the loans that

we had. but then 2008 hit, and the bottom just fell out of the housing market. and so, this house that we purchased for almost $370,000 went from a value of that down to $134,000. >> in a short period of time. >> it seemed like it was overnight. 2008 became a year of exodus out of this community. people were walking out of their homes. they were not gonna pay for it. so, when the new neighbors were moving into the house that other people had walked away from because the payments were so high, they were paying a third of what we were paying. >> so, you have a home that you bought for in excess of $350,000... >> yeah. >> ...that now has a value of maybe around $100,000. so, you're $250,000 underwater. >> absolutely. so, we didn't know what to do. >> did you contact the lender directly? >> initially, the customer-service representative said, "well, there's nothing we can do right now." and they would kind of dismiss my phone calls. well, i continued this over and

over and over. >> you continued calling them. >> yes, because i didn't know where else to go. and finally one of the ladies -- bless her heart. she finally told me. "we got programs for people that default on their payments. but people that are current? we will not help you." >> the banks were generally not willing to work with people who were maybe only slightly delinquent on their mortgages. i think the banks focused more on people who were 60 to 90 days past due and beyond. >> military man, always paid their bills, responsible, a generation that was raised if you sign something, you pay it. how did you cope with the decision? >> oh, it was absolutely awful. it was humiliating. i would have to get to the point of not paying my bills to get attention. it just didn't make any sense to me that i would have to go through that. and i had. i had paid my bills. growing up, coming up in the

military, you don't make a whole lot of money, especially on the enlisted side. but we always paid our bills, every single month, every time, overseas, everywhere, combat zones, all that stuff. we always made sure our bills were paid. but this was something that my wife and i had never experienced, that we were actually gonna have to ruin our credit in order to get the bank's attention. >> how did you feel when that first month came, and you made that conscious decision? >> oh, i felt awful, actually awful. i felt like i wasn't living up to an obligation that i agreed to. it was absolutely terrible how i felt, and it got worse. >> sure. >> we defaulted on the payment. we defaulted on another payment. then my wife and i are saying, "well, what are we gonna do next?" >> eventually, they got a notice of foreclosure. but grady learned that nevada had a mediation program meant to get homeowners and banks to sit down together and try to work something out to save the home.

>> prior to the mediation, their attorney asked for information about what we were looking for in the mediation process. so, i outlined some proposals that we would agree to, and basically it's what i was trying to say in the past year. modify the loan, reduce it to a price we can afford. we'll even pay more than the value of the house, but get it down to a reasonable amount. i said, "the other option is we're gonna walk out of the house like most of our neighbors did." we were watching these people, these big-time people, get bailed out and getting all this free money that was passed to them and getting relief. and here, we're just little people. we're just out here trying to live in a house, and we can't even get anybody to talk to us, much less make a deal, as far as modifying a loan or anything else. you simply could not get anyone to have a conversation with you. i spent 23 1/2 years serving this country all over the world, and it was humiliating to think about what we had gone through

and all the -- why can't you just pick up the phone and talk to somebody? >> work it out. >> when we were in the mediation, they asked me to start, and i told them basically the story that i've just said, talking about here. and the first thing the bank representative said -- "well, we don't want another house on the market, and we want to try to arrange something. she said, "what i can do is i can take $100,000 off the loan, put it at the end of a 40-year mortgage. it does not draw interest or anything like that. it just sits there. but then we can finance what's left of the loan and get your payments down." >> it's called a forbearance. so, did you reach a deal? >> we did. on that particular day, we reached a deal. >> how much was the second mortgage at that time? >> it was about $74,000, right in the neighborhood. >> interest-only payments. >> that's correct. the second proposal was that they would write off $54,000. >> and you thought that came from heaven. >> i did.

i thought it fell from the sky. they said they'd write off $54,000, and our payments would be reduced to $69.36 from over $600. initially, we had the two loans where our house payment was almost $2,500. and by the time all that was done -- the mediation, the second mortgage, to negotiate all that stuff was done -- it went down to about $850. if the banks would have cooperated with us from the very beginning, we would have never missed a payment, they would have continued to have gotten their money, and we would have gotten what we got in the end, anyway, which is a reasonable payment. and that's all we wanted. >> if only one side talks, there's no way there's a winner. >> no. not at all, not at all. but we're still here. as i said, we haven't missed any payments whatsoever in five years. we enjoy our little single-story home. >> good for you. you're a great american, grady. >> hey, thank you very much. >> thank you for your service and thank you for your time today. >> thank you very much, bob.

>> yes, sir. thank you. a few years back, lenders had no way of being consistent. grady got lucky, got a good lender, got a good representative, and was successful. not many properties have drive-through tunnel of love and a pink cadillac, but i'm going to show you one that has both. plus, an owner with a heart of gold. [ woman vocalizing ] it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.

you won't see these folks they have businesses to run.

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♪ >> thanks for staying with us. i'm bob massi, the property man. and i want to show you a very unique property. it started basically as just a small box and has grown into the home of more than 800,000 weddings, including those of frank sinatra, bruce willis, and michael jordan. here we are at the little white chapel in las vegas. forty-seven years ago, charolette richards lived in a 600-square-foot apartment with a little chapel. that's what she started this business in, and now literally is a city block in las vegas.

the property, the business is worth millions of dollars, and celebrities from all over the world come here. [ camera shutter clicks ] >> and kiss. kiss, kiss, kiss, kiss, kiss. >> this is the wedding center, where we have wedding gowns, tuxedos, suits, elvis costumes, and all kinds of wonderful things for those people that like to dress up. some people buy them, some people rent them, and some people give them to me because they don't want to take them home. i've done so many weddings during the past few years free because... >> to help people. >> ...i can help people. >> yeah. >> and i've never had anybody that was military pay for the use of this chapel or this grounds. >> thank you for that. that's wonderful. >> no, i love the military people. oh, i'm so glad you're here. i'm honored to have you here. >> thank you very much, ma'am. >> ♪ i won't care at all as long as i have you ♪

>> you may kiss your beautiful bride. i want to comp their wedding -- everything. >> you don't have to do that, ma'am. >> i want to do it for you. i want to do it for you because of what you stand for. >> here you are. >> that's a good thing. >> alive and well. >> yes, sir. >> how many weddings have you done here at the little white chapel? >> oh, my goodness, hundreds. i don't know. i did eight yesterday. elvis is just synonymous with vegas. you'll have some people that are really big fans and just love him, man. it's amazing. he always thought people would forget him, and here we are, all these years later, and someone like myself is making a living doing weddings. [ "bridal chorus" plays ] >> behind me is a drive-through, where you pay to get married, sit in your car, and drive right out onto the old las vegas strip towards downtown as a married couple. >> seventeen years ago, i said, "i want a drive-up-wedding window." so, i told my son, "cut this

wall down and put a window there." he said, "why do you want to do that, mom?" and i said, "so that people could get married." he said, "you mean they could pay first before they get married?" i said, "no, they're gonna get married at the drive-up." he said, "i won't do that. i'm not gonna build you one because i don't think that's right, that people get married in a drive-up." >> sure. >> you know what? it's become the most popular thing there is. and they drive up to the window, and they stop. the minister comes out and says, "do you want to get married?" and they say, "yes." "well, you've come to the right place." some come on motorcycles, all different ways. >> so, if they come up to the drive-through wedding window, how long does it take for them to get married? >> fifteen minutes. people just love this pink cadillac, which i have two of. they love to get married in there. >> oh, so people actually get married in there. >> they get married right here in the backseat. if they have little children, we let the little kids stay up in the front so mommy and daddy can get married back here. >> las vegas, of course, was

ground zero in the real-estate crisis in america several years ago, and it's coming back. but during that period of time, this amazing property still sustained itself. the little white chapel is a great example of an american success story. >> the business was growing and growing, and i lived here 24 hours a day, 7 days a week. i never left here. this, in fact, used to be my living room. >> by the way, is this the first chapel of this whole structure? >> yes, this is, uh-huh. this right here is. >> and you lived literally behind this chapel? >> i lived right here, behind this wall. the chapel was there. >> so, this is where you lived, where the altar literally is. >> yeah. >> and the chapel was over there. and then you switched it up, obviously. >> and then, my sons are contractors, so they tore all this down, and we made it bigger because there were so many movie stars coming in here, and we were getting so many big weddings. people say, "how come you're so successful?" it's because i love people. i want to be honest and faithful to them as well as them be to

me. from then on, it just took off. >> now, when you bought the property, how many square feet was this building at the time? not too big? >> 600 feet, maybe, something like that. >> so, over the years, and you expanded. >> i just kept buying up the property as it came available and then tore all the things down, which was all doctors' offices and stuff like that. i don't know if you remember that. >> this is old las vegas. you built this business your own as a young woman... >> yes. >> ...and built this up. you should be pretty proud of yourself. >> well, i'm not proud of myself, but i'm thankful that i've been given the ability to do what i have done. and not only that, i've worked very hard, and i enjoy every moment of it. >> you're a married man now, soldier. [ laughter ] >> up next, there's a thing called a 1031 exchange. it's a complicated concept of how you save taxes over a period

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♪ >> welcome back. i'm bob massi, the property man. you know, nothing is more complicated than buying and selling real estate or buying and selling a business. we all think we know so much, but let me tell you something. when you have to deal with the good, old tax code and the irs, you better know the law. there's a thing called a 1031 exchange. it's a complicated concept of how you save taxes over a period of time, but let me tell you something. you better have the right expert to explain it. i talked to rex reese, a prominent attorney who understands and will break down the 1031 exchange. rex, most americans, they sell their home, and they're gonna go

buy another home. but what are the tax implications of just selling a primary residence for the average american? >> well, your principal residence is a capital asset, and the normal tax rules apply. if you've held the property for more than a year, then you get long-term capital-gain rate, which is 20% or less, which is of course a nice savings from ordinary rates, which could be as much as 40%. so, there is an advantage to home ownership. years past, you could do what's referred to as a 1031 exchange transaction with your principal residence. however, about 15 years ago, congress decided that was too complicated, and so rather than forcing people to jump through all the hoops to do a 1031 exchange, they just give them a credit, principal-residence exclusion. >> let's take a home, $500,000. and they sell it for $800,000. primary residence -- how does

that exclusion work? >> so, there's $300,000 of potential gain there, which would be subject to capital-gains rates. under the principal-residence exclusion, an individual's entitled to exclude $250,000. so, the end result is, there's only tax, capital-gains tax, on the $50,000 that's not covered by the principal-residence exclusion. now, with respect to a home that's been acquired a married couple, they're entitled to a $500,000 principal-residence exclusion. double your money. so, in your example, where the couple bought the house for $500,000 and sold it for $800,000, they would have all $300,000 excluded, pay no tax on it. >> what about if the properties you're buying or selling are not your principal residence? that is where you need to be prepared and do it right, usually by doing what is called a 1031 exchange. >> you sell your old property, and you buy a new property.

you have to do it within the 180 days, generally. you cannot take possession of the cash that you sold the old property for. you have to engage a qualified intermediary. >> explain to our viewers exactly what they are and what they do. >> the treasury does not want you, as the seller of your old property, to have control over the proceeds from the sale. that money has to be used and poured into your replacement property, your new property. so, you must engage a qualified intermediary to hold the proceeds from the sale. both parties must recognize that this is a 1031 transaction. the contracts have to reflect that. that's about the only thing that the q.i. has to do is maintain control of those funds. now, the q.i. cannot be your broker, your attorney, your cpa, no one that you would have actual or constructive control over, because that would then collapse the transaction if you're deemed to have control over the money. >> if you don't designate in

that 180 days that new property, what's the impact? >> you have to close on the second transaction within 180 days of the first transaction. >> but you have then a 45-window period to designate that new property. >> that's correct. >> have you ever seen it in your experience where somebody hasn't designated it in a timely fashion, and, if so, what's the consequences, a tax? >> the regulations under 1031 are pretty complex, but they're designed to be sort of a safe harbor. and if you jump through all these hoops, and you do it timely, you qualify for the safe harbor. there's a land of limbo out there, however. if you have missed some of these deadlines, but you've still never had control over the money, and the properties were like kind, you might be able to make the case that this was in effect a like-kind exchange. you're looking then for the regulators to give you a pass,

basically. there's no guarantee you'll get that. so, it is legislative grace, and you've got to make sure that you qualify because unless you can prove that you have, you're not entitled to the deduction. >> when we come back, we'll review everything we learned today in the massi memo. [ woman vocalizing ] ♪ ah, my poor mouth breather. allergies?

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♪ >> welcome back. i'm bob massi, the property man. and it's time now for the

massi memo. earlier, we talked about 1031 exchanges, which is the process of exchanging one property for another without getting slammed with a big tax bill. the detailed step-by-step is on our website, but what you need to know is many people get caught off guard by the tax implications of real-estate transactions. but there are times when you can avoid that by doing a 1031 exchange. an exchange usually involves swapping one piece of property for another through a middle person. and this third party holds the proceeds from your sale and then uses it to purchase the other property. so, technically, you never really make a profit, and it never touches your hands and can't be taxed. now, this is critical. you must designate some potential new properties that you're looking for to buy within 45 days of selling the old one and then close on one of them within six months. that's it for today. be sure to send me your questions or property stories at propertyman@foxnews.com and check out our website at

foxnews.com/propertyman. i'm bob massi. i'll see you next week. [ woman vocalizing ] >> i'm bob massi. for 34 years, i've been practicing law and living in las vegas, the center of the recent real-estate crisis. lives were destroyed from coast to coast as the economy tanked. now, well, it's a different story. the american dream is back. and nowhere is that more clear than the sunshine state of florida. so we headed from the strip to the beach to showyouhow to live the american dream. i'm gonna meet real people who are facing serious problems, take you behind the gates of properties you have to see to believe and give you the tips that everyone needs to navigate the new landscape. because information is power. and the property man has got you covered. [ woman vocalizing ]

thanks for joining us. i'm bob massi. in just a few minutes, i'm going to show you how crowdfunding is changing the game for people who want to flip and fix properties. but first, the one topic i seem to get the most e-mails about -- time-shares and what you do once you no longer want to use them. >> the majority of time-shares in the u.s. are perpetually deeded, which means for life. but that also means your kids' life. if you're done using it, you can't just stop paying for it. you have to find a legitimate way out of the time-share. >> as many people have found, selling your time-share, it's not easy. and there are a lot of scam artists out there. the better business bureau has listed the time-share resale market as one of the top 10 scams in the country. at magical realty in orlando, time-share resells is all they do. and they've seen every scam in the book. >> if anybody's trying to charge you more than $100 to advertise your time-share,

already it's a huge red flag. there's a lot of companies that they'll ask for $600, $800, $1,000, $2,000 to advertise your time-share. waste of money. >> marketing companies will take your money to list your time-share on their website, where it will sit forever. or worse, some other scammer will see the listing and call you pretending they have a buyer. >> they'll tell you, "i have a buyer for your time-share for $27,000. all you have to do is pay an upfront title fee or an upfront closing cost." >> "send me $1,000 for taxes or appraisals." >> and as soon as you pay them that money, guess what. there never was a buyer. >> send them $1,000 and never hear from them again. >> the bottom line, bob, all of these cases -- if something sounds too good to be true, it usually is. >> always beware of any telemarketer who calls out of the blue saying your property is in a hot area or they have a buyer who's interested. >> if you get cold-called, that's a pretty good indication that it's a scam. the scam artists will just buy

a list of time-share owners and just dial all day long. >> in vacation states like florida and nevada, state officials spend a lot of time prosecuting time-share fraud. >> we've passed the time-share accountability resale act. we have put out of business approximately 41 fraudulent businesses. >> you're not saying time-shares are bad. you're just saying beware when you get a time-share. >> bob, we actually worked with the time-share industry to pass this legislation. we brought them in and they were thrilled because we're helping all of our great, legitimate time-shares. >> do not allow someone to pressure you into anything. take your time and investigate any company you're going to work with. >> magical realty or licensed timeshare resale brokers association has a list of approved brokers that can help people sell their time-shares. these are realtors that only specialize in time-shares. >> check with the better business bureau and the state attorney general's office, again, for the state

the company is listed in. >> timeshare specialists is a full time-share company that takes time-shares through liquidation. >> a lot of our options are guaranteed. if we take on your ownership, you won't ever pay another fee. >> the sad reality is that the resale value of a time-share is not going to be anything close to what you paid for it. >> if a person selling a time-share tells you it's a great investment, that's a huge red flag. >> the majority of time-shares resold on the resale market have a resale value of less than 10% of what the developer charges for them. >> sadly, sometimes a time-share is in such low demand that it's nearly worthless. >> unfortunately, there are some that we are unable to sell as well. >> if it's something i might not be able to sell for them, i tell them, "look, have you spoken to friends and family about giving it to them as a gift? have you thought about contacting the developer?" >> try calling the resort or developer to see if they would accept a quit claim

deed to take the property back. >> some developers will actually take it back. all you have to do is, like, pay them the closing costs of like $400 and you're done with it. there are people who say, "can you sell my time-share for me?" their time-share might only sell for $1,000 but they still owe $20,000 on a loan. that's where they might consider googling and contacting cancellation attorneys that all they do is they get people out of the time-share. they get the developer to forgive the debt, and it just goes away. it doesn't affect their credit. those attorneys are a little pricy, but they do work. >> if worst comes to worst, guys, you could always just stop paying. >> i don't recommend doing this, but another option that some people have done is just walked away from their time-shares. >> but, just like with a house, your credit could be damaged. you need to get advice about that before you do it. >> walking away is really hurting the industry because what that causes to happen is the resorts have to go through a foreclosure process. it increases the maintanence fees for the remaining owners at the resort. >> time-shares are great, but it only works for people

who actually use them. >> time-shares get a bad rap in the press, which is unfortunate. but the majority of people who own time-shares are very happy with them. at some point you'll need an end game on how to get rid of it. >> i've got lots more information on unloading time-shares on our website -- foxnews.com/propertyman. and we've got even more tips coming up at the end of the show in the massi memo. but up next -- i've told you about crowdfunding and the impact it's having on real estate. now flippers are using it to buy, fix, and flip properties. we'll meet some next. [ woman vocalizing ] it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured

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daughter: daddy! we don't say words like that! ♪just let your love flow ♪like a mountain stream ♪and let your love grow my dad called them up and asked for "the jennifer garner card" which is such a dad thing to do. after he gave his name the woman from capital one said "mr. garner, are you related to jennifer?" kind of joking with him. and my dad was so proud to tell her, "as a matter of fact, she is my middle daughter". so now dad has the venture card, he's earning his double miles, and he made a friend at the company. can i say it? go ahead! what's in your wallet? nice job dad.

>> welcome back. i'm bob massi, the property man. >> we're gonna remove casing. we're gonna do all new lighting, new tub, new flooring, and new paint. >> doug lyon flips houses. he's buys distressed properties,

fixes them up, sells them for a profit. >> what this was was an open doorway, and it was a lot of wasted space. so what we found is one way to add value is literally by adding bedrooms and bathrooms. >> sayam ibrahim does the same thing, and they're good at it. >> we look for undervalued properties, right? so we're looking for properties selling at a discount, properties in need of repair. >> properties that need somebody to come in, rehab them. not only bring up the value in this property, but we help the property values in the neighborhoods. >> but like most flippers, they had trouble getting loans from banks. >> we don't have steady income, steady paychecks every other week. also, a lot of these properties we're buying require a lot of repairs -- new roof, might need windows -- and traditional banks won't finance those. >> this is a tough business. it's a dollars and cents. you purchase a property for so much. you have realtor costs, closing costs, title companies, insurance, and you have the rehab budget. and you have to still make a profit. >> so they turn to crowdfunding.

we've talked before in this program about real-estate crowdfunding websites, where investors, they pool their money together to fund projects. >> we raise capital from the crowd. we raise capital from thousands of unrelated investors. and we can do it online. >> we allow investors to come online and buy shares of real-estate properties. and it's as simple as buying stocks or bonds on the internet. >> we have capital like a bank, but we don't operate like a bank. >> the crowdfunding explosion had a major impact on flippers, whose lack of a steady, consistent income makes them not very good candidates for traditional loans. >> they might be doing two, three, maybe even 10 projects a year. but they want to level up. they want to take their business to the next level. but they can't get funding or they're getting charged really high rates on the other side. >> on the investor side, for most projects, you still have to be "accredited." what that means -- you have to have a lot of money. >> accredited investors who have a net worth over

$1 million or an annual income above $250,000. >> but for borrowers, anyone can participate. >> you don't have to be the person with $1 million in the bank to borrow from us. >> it gets the little guy in the game now to be able to invest in projects like this. we can come in, take a distressed property, fix it up, put somebody else in this home that will be here for the next 30, 40, 50 years, raise their family and kids. >> i'm really proud, actually, of the fact that we're lending to a lot of people doing amazing work in local communities and creating jobs and just really making a huge difference in their area. and hopefully with our help, they can get to the point where their next project is gonna be a retail center or some large, multi-family. we really get excited when our borrowers succeed. >> anyone can fill out a quick application, have their project vetted, and request funding.

>> we've built technology to allow them to do their entire application process online. they can get a term sheet or a letter of intent directly from us on the internet without ever talking to someone. we're gonna make sure that we have an appraisal. we're gonna go and make sure we have a physical inspection of the property so that we know what we're lending against. and the technology allows us to auto-trigger those vendors around the country and really speed up the process. >> what the sites do is they evaluate both the borrower and the project to ensure the investors won't lose any money. >> we go through a very stringent process to make sure myself, as the developer on the deal, that we are solid. >> these platforms like ours, we're very careful about who we lend money to. we do a lot of background checks. one of the things about technology and the data is that we have access to it and we use it. so we're making a full 360-degree determination of whether that borrower can get it done, whether they're fraudulent or not.

>> we'll present them with the deal. they go and they get a broker to give them an estimate of what the value's gonna be with the property being repaired based on my rehab plan. >> we always ask for skin in the game. so that's a risk mitigant for our investors. so we always make sure that they have at least 20% down. >> the crowdfunding site realty mogul lists many fix-and-flip projects available for investors to fund. potential investors can review the project online before deciding to put their money behind it. the technology has completely transformed how these guys do business. and it seems to be having a major impact. >> what crowdfunding has allowed us to do is literally do deals that we would have never had an opportunity to look at. >> sayam is a repeat borrower at realtymogul.com. and when he first came to us, he had done a handful of fix-and-flips. but he was cash-constrained. he couldn't invest in any more properties. and he couldn't expand his own business because he just didn't have enough money. so we lent to him on the first project. and we were watching

his progress every single month. and after we'd done our first transaction, we got really comfortable that he was a professional. he could balance doing multiple transactions at once. >> the investors that invest in crowdfunding platforms, they get paid on a monthly basis, all right? then they get their principal back when the property's sold or refinanced. >> if it's my job to raise capital, it's no longer their job to raise capital. they don't have to worry about it anymore, and they can really focus on what they love to do, what they're really good at doing, finding the properties and fixing them up. >> not only that, but the money we're putting into these homes is all spent locally. so we're actually impacting the local economy, vendors, trades, workers, as you can see. we're paying a lot of people's bills while we're raising the values. >> it's really impressive to see what happens to homes and the pride of home ownership when these flippers go in and work their magic. >> still to come when "the property man" continues -- i'll take you on a trip to italy without

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>> welcome back. i'm bob massi. i'm going to take you inside another truly unique property located within the isleworth luxury community. if you're talking about luxury real estate in central florida, well, chances are you're talking to mark hayes. mark hayes is the president of isleworth and stockworth realty. ♪ you know, each one you go through, they all have their unique features. >> this is what we call an iconic residence in isleworth. what you're gonna have here is a

tuscan estate with materials from all over the world. when you stand in front of this home, you can obviously see the amazing detail that went into the stonework, the faux painting, the windows, the lines, the roof, the landscaping. >> it is reminiscent of an old italian villa and sits on the banks of hourglass lake. >> this floor was brought in from the vatican. >> i'm gonna around that, buddy. >> actually, also, before we go in there, look up at the ceilings. >> yeah. >> how many foyers do you see that in at? >> yeah. it's just -- again, the detail all around the pillars. beautiful cross over here. when you first enter the home, you are really struck by the central living space. the great room reflects a truly elegant yet functional space for the entire family. and you can't help but find yourself staring at the ceilings. hand-painted and sandblasted cypress planks and beams are anchored by iron ties

for a truly original look. it's amazing. >> every room the attention to detail. the columns. >> the large fireplace mantel and flanking columns are hand-carved of mexican limestone marble. to get to the master suite, you have to pass through an ornately designed iron gate. this is a different entrance to a master bedroom, isn't it? >> you don't normally see mid-century iron gates. >> that's really good. ♪ >> wow. >> and just look at the hand-painted wall. look at the attention to detail. >> you know, it's interesting because when you see these kinds of homes -- and there's not many like them, by the way... >> no. >> ...you can't even imagine the amount of time it took to get the perfect home that they were looking for. we take it for granted because we're seeing it after the fact. >> right, right. >> but the thought that went into it.

>> well, this family looked for the perfect plot of land -- you know, where it faced with the sun and with the water. >> this magnificent home has five bedrooms, six bathrooms, and more than 9,800 square feet. >> these coffers are inspired from a chateau in versailles. just... >> and look at the tapestry on the wall. >> again, just very european-inspired, old world. >> what really blows you away is that every detail on this property is handcrafted and inspired by something from around the world. >> how often do you see seasonal closets? spring, summer, winter and fall. it's just, you know -- hand-painted closets. again, look at the stonework. >> yeah. >> just very thoughtful. ♪ >> the home comes with a detached guest house that is nicer than most people's homes, a half basketball court,

and 20-foot-deep lap pool with a diving board. so let's take a walk outside from this room here. >> oh, bob, you're in for a treat. this house has a lot of outdoor living space. as you can see, very spacious. the outdoor patio goes all the way across. >> a lot of boating out here? >> boating, yes. but i will tell you this particular lake is filled with prime bass. >> out back, on the banks of the hourglass lake, well, you're gonna find an english garden, pool and a sitting area. >> just look at the landscape, ♪ and again, all european-inspired. >> what a beautiful, beautiful setting. up next, the massi memo, with more information on unloading time-shares that you can't afford to miss. [ woman vocalizing ]

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the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease and lower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. so now that you know all that, what do you think? that it's time to think about jardiance. ask your doctor about jardiance. and get to the heart of what matters.

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some research on the person and company you're gonna contact. beware of time-share-listing services. these companies will charge you money to list your time-share for sale on their website. then what happens? nothing. it sits there and your money goes away. or worse, other companies will see the listing and call you pretending they have a buyer who wants it right away. you just have to pay some fees up front. run away right now. so how do you do it the right way? only deal with a licensed real-estate broker. you can check the website arello.com -- that is arello.com -- to see if they hold a valid real-estate license. check the better business bureau for their state and the state the time-share is located in. you might even want to check with the attorney general's office for that state as well. now, you could go to licensedtimeshareresalebrokers .org to find which brokers specialize in these listings, because time-share really is a specialty.

but again, don't pay anything up front for a time-share, just like you wouldn't when you're selling your home. i have to tell you this, folks. you will probably not like hearing what your time-share is worth on the resale market, because time-shares can be great if you're gonna use them. but they are not an investment. some have a decent amount of value and some don't. an honest broker will let you know the truth. if your time-share has little value, you can try contacting the developer or the resort. tell them that you no longer can afford the payments and you want to transfer the property back to them. and sometimes they'll go for this, and most of the time, they probably won't. but it never hurts to try. here's a sad story -- dependent upon your time-share, you may have to spend some money to literally get rid of it. just be sure you're spending it wisely and not getting ripped off. that's it for today. there's much more info on our website at foxnews.com/propertyman. and be sure to send me your

questions or property stories at propertyman@foxnews.com. i'm bob massi. i'll see you next week. [ woman vocalizing ] thanks for being with us. good night from new york. >> announcer: from fox business headquarters in new york city "wall street week." maria: welcome to "wall street week" the program that analyze the week that was and position you for the week ahead. coming up my interview with u.s. treasury secretary steven mnuchin on tax reform. but first gerri willis standing by with news from wall street. gerri: investors feeling the heat after a short but busy news week. hurricane irma barreling through the caribbean claiming at least 23 lives and