Is the Great Randino cashing out?
1) Brilliant Light Power is located ("headquartered") at 493 Old Trenton Rd, Cranbury, NJ (reference: BLP website**). This property is sometimes listed as being in neighboring East Windsor rather than Cranbury.
2) Also headquartered at the same address is "Blacklight Real Estate" with contact Randell Mills which has estimated revenue of $925,288 (reference: Buzzfile, search companies located at 493 Old Trenton Rd, Cranbury, NJ**).
3) While the exact source of that estimated revenue is unknown, Blacklight Real Estate has owned a single property listed in NJ tax records as "493 Edinburg Rd, East Windsor, NJ" since 1998. Despite the different apparent address, this is actually the same property where BLP is located (reference: njparcels website). The estimated value of this property in NJ Tax Records is $5.2M (reference: NJ tax records**, compare below).
4) This suggests that Randy is the owner of the property where Brilliant Light Power is located and pays himself ~$925,000 in rent yearly in addition to whatever salary he is paying himself as Chairman of the Board, President, and CEO Director. This type of arrangement is typically legal but would be a substantial portion of the investment income raised by Brilliant Light Power.
5) The property where Brilliant Light Power is located is currently for sale from owner/user for $5,000,000 (see listing for 493 Old Trenton Rd, East Windsor, NJ on loopnet** which also has some fun photos). This would give Randy a cool $3,000,000 profit over his $2,000,000 1998 purchase price.
Nice gig to make $900,000+ in addition to your salary every year from energy investors. I wonder if they're ok with how their money is being used?
I am also curious though whether selling the property means he is finally cashing out for good and retiring.
** I am a new user, so can't post urls yet.