TASCO Tackles Problem Assets

Gary Hirshberg, president of PMW Inc., is taking advantage of the economic downturn to diversify his business. Earlier this year he started Troubled Asset Solutions Co., or TASCO, as a division of PMW to help banks clean up and sell off properties they may have obtained through foreclosure.

PMW is a rental home and apartment management company, so Hirshberg said the transition was a natural fit for him, his employees and subcontractors.

“We actually were fortunate and sold most of our properties before the bust, so we can just turn the old business in to the new trends,” he said.

PMW sold most of its properties before the downturn, he said.

Hirshberg said he will offer turnkey services from clean up and trash removal, to property repair, to protection and patrol of vacant properties.

Heretofore, Hirshberg hasn’t landed a consistent client. He said most banks are selling properties as-is, but he suspects many bankers will realize a higher return if a property is spruced up a bit.

“If it can’t be cleaned, it gets replaced,” Hirshberg said. But, “everything either gets reused or recycled.”