Russell Arceri has been in the financial services industry since he was right out of college, with 20 years as a district manager in Prudential Financial in Brooklyn. He started originating mortgages in 1995, and only does reverse mortgages. He is the owner of Five Star Reverse Funding. He has closed over 900 loans, and is with the borrower from start to finish. He offers traditional reverse mortgages, jumbo reverse mortgages, and NYC Co-ops.
How did you get involved in the real estate industry?
I got into real estate when I bought my first home at the age of 21, and ended up buying a total of 13 by the age of 40. I had my real estate license in 1978, and always enjoyed the world of real estate, as my dad got me into it early on in life.
What’s the best thing about working in Long Island real estate?
The best thing about Long Island is the beauty of the area, along with the fascinating people I meet. My clients are over 60, some well into their 90s, and I love hearing the stories of what line of work they were in, and the family history of their home.
What’s your favorite area of Long Island?
I love the east end of Long Island, as I am the leading East End reverse mortgage originator. My wife and I love Montauk and go out there at least three to four times a year. Along with the hotels and VRBO we also take our trailer out to Montauk county park along the sound.