Marty Stallone, the executive vice president of land development with MDG — the company’s preferred acronym for Metropolitan Development Group — can claim nearly two decades of experience as an expert in finance, analytics, risk management, and land development. The Ivy League-educated Stallone has overseen countless aspects contributing to MDG’s lengthy run of success beginning, which followed previous professional roles in the finance industry with Hamilton Consulting as well as Meridian Capital Markets.
As the executive vice president of land development, Stallone has emphasized a versatile approach to property development that nonetheless delivers a quality level most often solely associated with specialty providers. Guided by previous experience with non-profit and government entities as well as with corporate businesses, Stallone’s company is known for its unique ability to take on development projects that include high- and low-density single-family residential properties; commercial office buildings; industry property tracts; and multi-family market apartments, along with a host of other services designed to yield consistently exceptional results for MDG and its clients.
Stallone, a graduate of Cornell University and a longtime resident of Eastern Pennsylvania, has earned a sterling reputation among clients, colleagues, and competitors for his unique financial and analytical skills and his impressive expertise in addressing the many complexities that often accompany a land development project. It is the product of his uncommon expertise in these critical areas that Stallone is often sought after to serve as a featured speaker at conferences and seminars, including conferences as well as professional seminars hosted by entities that include, for example, the Government Finance Officer’s Association.
In what city/state was your first house located and approximately what year did you buy it?
It was nearly 30 years ago that I purchased my home in the Reading, Pennsylvania area.
What was your living situation prior to buying your first house? Where/with whom/etc?
I rented a room in a home owned by a friend from Cornell, but once I decided to leave the position I held at the time, the location was no longer convenient, especially due to the lengthy commute.
What motivated you to purchase your first house?
I was motivated by the need to live in closer proximity to the MDG offices and the expectation that the company would succeed in a manner that would not necessitate any future moves.
How did you go about getting the money together to buy it?
I was working in a fairly lucrative position and had very few expenses while renting a room from a close friend, so I had enough savings to comfortably afford a home I could grow into over time.
When you purchased, were you thinking of it as an investment or as a place to start a family. Please elaborate.
Although I didn’t have any specific plans regarding either, I considered the suitability of the home in terms of both in order to maintain a sense of flexibility in the future. That approach proved to be more than sound, and my wife and I were able to raise a wonderful family while living there.
What are 3 things you liked most about the house?
- Even though the home was built some time ago, the previous owner had taken care of the home to such a degree that I didn’t have to invest anything in repairing or remodeling the home.
- The building materials were of an exceptional quality and the home was clearly built to last.
- The overall aesthetic of the home was almost entirely in keeping with my own personal preferences.
- Was there anything you didn’t like about it?
I was concerned about the location and the potential difficulties posed by adverse winter weather conditions, but that concern was largely unfounded. I am grateful that I never had to endure anything resembling trouble in this regard.
Did you make any improvements or major renovations to the house?
It was not until a decade after I moved in that I felt the need to make any renovations, and even then it was only a minor addition to the rear of the home.
Please share 1-2 of your fondest/funniest memories from living there.
The property is located in a densely wooded area, and I was so busy after just accepting a role with a new company that I was rarely home during the daylight hours. After about five or six months, several of my neighbors dropped by over the course of a single weekend to introduce themselves and offer a few words of welcome, and it was apparent they were under the impression that I had only recently moved in. That experience helped me realize the need to be more aware of my work-life balance.
Do you still live there or did you sell it or renting it?
We considered selling it a few years ago, but we decided to hold onto the home and rent it out instead.
What advice would you give other first time home buyers?
Don’t buy a home unless it suits your specific needs and fits comfortably within your budget.