Profiting From Distressed Homes

SITTING in the office of his 20,000-square-foot mansion on seven and a half acres here, Harsimran Singh Sabharwal, a real estate investor, recently shared his rags-to-riches tale: how, in 1973, he came to the United States from India with $8 in his pocket and now has a house whose kitchen dwarfs the home where he grew up, in a family of eight.

The secrets to his success? Faith, a positive outlook and buying distressed properties.

An engineer with a doctorate in business economics, Mr. Sabharwal started buying abandoned homes in East New York, Brooklyn, in 1983, rehabilitating them and “moving people from shelters to houses.”

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