Stuart Damon spent 31 years playing Dr. Alan Quartermaine on the TV soap opera “General Hospital.” Now he has a new role as a luxury-home real estate agent. Damon formed The Damon Group earlier this year with his son, Christopher. It proved to be a good fit: The father-and-son team covers two age groups, and Damon’s well-known soap-opera character attracts interest from potential clients.
Buying a home is an emotional decision, Damon says. So he tapped his emotions rather than his financial acumen when he paid off his mortgage loan early, he says, which left behind a tax deduction and the leverage of equity. Because working on a soap opera typically isn’t a secure gig, Damon says he wanted to ensure that there would be a roof over his family’s heads.
Damon has bought, restored and sold homes for the past 40 years. He claims to be a careful investor, accepting that the payoff won’t be great.
Unsurprisingly, Damon has 50 percent of his investment portfolio in residential real estate, 25 percent in stocks and bonds (40 percent domestic and 10 percent foreign), and 25 percent in cash.