Raymond Russo

Personal Finance, Retirement, Investing
“Raymond Russo, Owner of Virtuoso Capital Management, provides financial planning strategies that use existing laws and product designs, and a deep understanding of client needs and objectives to orchestrate successful planning of personal & bus. economies”

Virtuoso Capital Management

Job Title:

Owner, CEO


Ray Russo has been a successful wealth advisor for 30 years. Ray is a licensed agent for securities, life, health, and disability. He is also a licensed Investment Advisor Representative and former Real Estate Broker. In his tenure as an advisor, he was responsible for training and development of over 3,500 agents, preparing them for a career in financial services. First and foremost, Ray feels most at home in his role as a consultant/trainer/teacher. He is the CEO of Virtuoso Capital Management, a Registered Investment Advisor (RIA).

Ray is a solutions oriented financial planner and Fox Business News Online contributor who is one of the few in the industry that has not only financial services experience, but business and real estate experience as well. Ray has been an entrepreneur since he was 22 which give him a unique perspective when dealing with clients, especially those that are self-employed. His primary purpose when working with individuals, couples or businesses, is to be certain they understand all that is involved in the planning process, and how to use their assets (both tangible and non-tangible) to support their ultimate goals.

At the end of the day, that results in plans that are more thoughtful, comprehensive and in true alignment with carefully thought out objectives. Generally, Ray is always attempting to look for inefficiencies in each unique situation, be they tax, expense, income, investment or insurance inefficiencies, always with an eye toward protecting assets from an increasingly intrusive government and litigious society.

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    Financial Planning, Real Estate
What is the best way to buy a new property while converting a home to a rental?
100% of people found this answer helpful

Great question and an interesting study. I took this question because I am in a similar situation, and I have a strong background in real estate and lending. At first blush, without really know everything going on in your economy, taking equity from your rental to get cash out does a couple of things:

  1. It reduces your taxable cash flow on the rental and increases the deductions.
  2. It insulates you from a down turn in the economy because you will have taken most of your equity out already. When the mortgage meltdown happened in 2008, those with high mortgages were in a better negotiating position than those with lots of equity. I was one of them, and I mitigated my mortgage from $385,000 to about $160,000 through a series of modifications. There is no way to know for sure if banks will be that friendly ever again, but at the same time, they never want a bad debt on their books. My point is, getting the most of your money out via a refinance is better than watching your home depreciate the way it did in 2008, and I expect it to happen again soon, either this year or next, and it will be far worse than it was in 2008.
  3. Here is where it gets interesting. I would not recommend buying another home at this time. Why not rent for awhile, get familiar with the local real estate market, and see if you like your new city before purchasing? In this way, if I am right, you will be able to get a much better price on the home. I recommend reading a book by James Rickards called The Road to Ruin. It explains in great detail why the worst economic downturn in history is about to take place. Whether or not you believe that, it helps to be informed. I found it to be eye opening and very credible. The thing you want to make sure of is that the money you got from a refinance is placed somewhere safe. Hint, not the banks and not the stock market, no matter what the Trump affect is suggesting.

I hope that helps!



March 2017
    Financial Planning, Social Security, Peri-Retirement
Should my husband draw Social Security now at age 66 1/2?
100% of people found this answer helpful
May 2017
    Social Security, Choosing an Advisor
Why would a fee-based investment advisor need my Social Security number?
100% of people found this answer helpful
May 2017
    Annuities, Asset Allocation, Bonds / Fixed Income
Should I replace my fixed income with an annuity in my portfolio?
100% of people found this answer helpful
January 2017
    Financial Planning, Investing
Is my 457 deferred compensation rollover invested appropriatly?
100% of people found this answer helpful
March 2017