But you need to have the right kind of retirement account, to be prepared ahead of time, and to be aware of the potential taxes you may incur on the profits. So let’s cover each of those topics, one at a time.
Stony had an interest in real estate since his first acquisition of a beachfront vacation condo on Siesta Key in Sarasota, Florida in 1974.
Stony started his career with NASA in the Apollo space program working on the Instrument Unit of the Saturn V rocket. Later, he was with Florida Power and Light Company managing Telecommunications and winning Network World’s national User Excellence Award. Stony was the catalyst in forming
FPL FiberNet, a fiber optic telecommunications transmission company, he started a radio tower leasing business for FPL and he wrote the business plan which was used to migrate the country’s first broadcast TV transmissions from satellites to fiber optics networks.
During his career in technology, Stony invested in income-producing vacation condos, land, and single family homes in Florida and North Carolina. He was also involved in major commercial real estate development, including office complexes up to 600,000 square feet, warehouses, transportation centers and service centers.
He is currently a full-time commercial real estate investor and real estate professional, with investments in over 1,000 units of multifamily properties in Florida and Texas. Stony also holds the CCIM designation as a commercial real estate professional.
Stony holds a Bachelor of Electrical Engineering degree from Georgia Tech, an MBA from the University of Miami and has completed post-graduate studies at MIT as well as numerous professional business courses. Stony is married to Anne Grealy and they have a son, Graham.