Bruce Fazio looks at real estate differently than most people. Typically, when they hear “real estate” they think about salespeople (realtors). However, there is another facet of real estate that is sometimes overlooked. Real Estate Development involves maximizing property use like taking a piece of vacant land and building a house on it. It can also be as complex as converting the “use” of the property. An example would be subdividing a property for townhouses or changing a property from residential to commercial.
Bruce Fazio loves the challenge of finding a deal and putting it together. He enjoys the idea of taking an empty piece of land and within months, turning it into a brand new house. He also recognizes some of the challenges that come with real estate development such as financing, permitting, zoning, and finding good subcontractors.
He has gained experience in the business of residential real estate and as a home builder.
Whether it is pouring concrete foundations or installing windows, he has worked in all facets of home construction. He has 2-year degree in electrical engineering which enables him to install electrical systems. He is able to identify more closely and hire the best subcontractors. His first-hand experiences allows him to effectively monitor and evaluate his work. Bruce also has a strong working knowledge of the legal aspects of real estate. He was taught, over 20 years ago how to do title searches by one of the area’s largest title companies, Commonwealth Land Title. Bruce learned the mechanics of tax sales from a previous Director of Tax Claims for Montgomery County.
Bruce Fazio applies this knowledge in conducting “due diligence” on properties and, in particular, in selecting properties on which to bid at tax sales. He has represented himself in many townships and boroughs to successfully obtain variances. He has gotten involved with land development including subdivision of land as well as forming condominium declarations of property ownership. Over the years Bruce has formed long term relationships with many area real estate agents, most local banks, over 10 title companies, many real estate appraisers and has worked with many of the areas leading real estate attorneys.
For more than three decades Bruce Fazio has worked as a real estate developer in the Collegeville, Pennsylvania area. His company Edgewater Residential Homes specializes in renovation projects and new construction. Bruce and his team pride themselves on providing excellent customer service and high-quality craftsmanship. His latest project is Edgewater Capital Partners, a private equity fund which will help Bruce and other investors take advantage of overlooked real estate deals. Finding proper financing is often one of the most difficult challenges of developing a property. Bruce hopes that Edgewater Capital Partners will help eliminate this challenge for his projects. Up to this point in his career, Bruce has only focused on residential real estate; however, with Edgewater Capital Partners he may become involved in commercial real estate as well.
Outside of work, Bruce enjoys spending time with his family and playing tennis.
Since he was 18 years old, Bruce Fazio has played tennis and enjoyed following the sport as a fan. Although Bruce has played the sport for most of his life, over the past five years he has focused on training for national singles and doubles tournaments. As a result of his hard work and skill, Bruce has traveled throughout the country for various competitions.
One of the most attractive aspects of playing tennis is the competition. Bruce Fazio believes that a winning a tennis match depends on mastering the mental game. Bruce has trained all of his life for the sport, and he is confident in his physical ability. Yet, the mental game is still difficult to master. During a match, a player cannot let his mind wander if he intends to win the game. It takes willpower to focus on the game and ignore unrelated thoughts. Bruce finds it helpful to keep his attention on his breathing between sets and think about strategy.
When it comes to professional tennis players, Bruce admires Roger Federer. For over 20 years Federer has been on the pro tour, and he consistently appears at the top of the Association of Tennis Professionals ranking system. Bruce finds Federer’s ability to play at a championship level on a regular basis inspiring.
Tennis is a fantastic form of exercise. When friends that are interested in tennis ask Bruce Fazio for advice, he encourages them to find an accomplished teacher that can help them learn the sport. Taking lessons should be a fun experience—not a struggle. If the lessons aren’t fun, then it’s not likely that the student will focus on the sport for long. Besides the physical benefits of tennis, the game also teaches players some lessons that they can use in their career. Tennis teaches players to think, strategize, and not give up. Bruce has won numerous games by employing creative thinking—the same sort of thinking he applies to his career as a real estate developer.
One day Bruce Fazio hopes to play at Indian Wells, California where the Indian Wells Masters tennis tournament is held each year. If Bruce’s team makes it to the national level, they will be able to travel to Indian Wells to compete in the finals. Every year Bruce enjoys watching the US Open which takes place at the USTA Billie Jean King National Tennis Center in Flushing Meadows in New York City. He thinks the stadium’s courts are some of the best in the world.
Besides tennis Bruce enjoys playing soccer as well. He has played the sport since he was a child. Today he mostly plays local games when he has the opportunity. His favorite position to play is midfielder because it allows players to play both offensively and defensively.