2. Yes….we are!
This is a service plan offered to banks to help
them manage their recently increased portfolio
of foreclosures. The services are bundled as an:
evaluate, repair, and sell service. Even though
the service is marketed to the banks, it is
designed to essentially aid homeowners in
purchasing affordable turn key homes.
But we are different…
3. This is a pilot
program that was
created out of
necessity by a group
of realtors and
contractors that saw
the need to resolve
the foreclosure crisis.
4. •Accurately assessing the banks portfolio of current real estate holdings
•Determine what properties will positively/and or negatively affect the
bank and eliminate the properties that are not logistically worth holding
oTrading properties with other banks
oSelling properties at short sale prices to eliminate further
losses
•Remaining properties will be carefully inspected and evaluated on how
to frugally renovate and prepare them as “turn key” properties
•Renovations that occur will be done by licensed contractors on a unique
pay scale which will effectively lower the initial cost to the banks(
therefore more properties will qualify)
•While the properties are being renovated, first time buyers will be
simultaneously located so the property can be immediately occupied
after the renovations are complete, reducing the number of vacant
homes
•Unique loan program is set up so the bank has a “security deposit” if the
buyer defaults on the loan. If the buyer stays current on the payments,
the money is theirs after 5 years.
•After the successful closing of the property, contractors will be paid as
well as our company.
5. This pilot program will
accomplish many different
objectives. It will decrease
the number of foreclosures. It
will effectively provide work
for independent contractors.
It will be a low cost initial
investment to the bank. It
will take houses out of the
investment portfolio and back
into home ownership, which
is where a property belongs.
Once this program establishes
a reputation for its success, it
can be a model for other
financial institutions around
the country.
6. Mission Statement
Our goal is to reduce the
number of foreclosure
properties that are plaguing our
communities. We will provide
lending institutions with the
means to reduce the size of
their foreclosure property
portfolio. We do not claim to
eliminate all of the foreclosures
in the future, but we will create
a manageable number that the
lending institution can
successfully manage without
outside interferences. We will
strive to do this at minimal cost
to the community, lending
institution and most of all, the
new homeowner.
7. Our Vision
Home ownership has always been a
vital part of the American dream.
Due to the boom and bust in
housing speculation, the public’s
perception of a home has changed.
They are now perceived as a risky
investment. Our goal of a company
is to not even view a house as an
investment, but to view the
property as a home. We want a
home to be considered a safe
haven where a person can come
home and relax with their family
after a hard day of work, have a
family dinner and settle in for a
relaxing evening in “their” home.
8. Homes are being “returned”
to banks in record numbers,
the banking industry has been
forced into a new business of
managing real estate.
9. Another problem that the
banks are facing is the
property is empty, which
means it is a more likely
candidate to fall into disrepair.
Unlike other items, such as
cars or electronics, a home
actually will increase in value
when it is used.
10. RE Assess
RE Evaluate
RE Pair
RE Furbish
RE Build
RE Sell
RE Cognize long, tough, road, ahead
11. first target market is obviously the banks or
financial institutions
competent, ethical contractors
The buyer is another market that will be
targeted
the homes are carefully chosen
12. Sadly, there is a huge need for our service.
The bank does not need to hire three salaried
employees that expect benefits and three weeks
of paid vacation
Our goal is to perform so efficiently that we
outlast the final stage of decline in the market
lifecycle.
13. Once we gain even one account, the success of
our team will promote itself.
We want to be copied and emulated by other
management teams.
This program was created to jumpstart the
economy for the realtors, the builders, the
contractors, the banks, and everyone else that
has been affected by the housing bubble.
14. Bottom line, how does everyone get paid?
Instead of concentrating on how people are
paid, let’s briefly look at all of the people that
are not getting paid when a home is vacant and
in foreclosure.
15. The city- no taxes, no garbage pickup
Banks- no mortgage means less income
Utilities-usually the utilities are shut off
Smaller guys
Hardware Store
Cable Company
Chemlawn…ok…who cares????
And so on… and so on… and so on…
16.
17. This is the most groundbreaking aspect of the
program.
This will encourage banks to once again lend
money
“funded replacement reserves”
18. Strengths Weaknesses
Creative solution(money) Convincing all parties to co-operate
can be difficult
Trading properties(creative again) Many homes still unaccounted for
New Loan System Do people have extra money for
escrow?????
19. Opportunities Threats
Reach out and help many businesses No job in 3-4 years for our company
and members of the community GOOD!!!
Help out the lending institution There better be enough money to pay
everyone in the end. The bank is the
last organization that will be paid in
this endeavor and if they have to
accept a short sale, than they must
accept a short sale
20. We want this market to change. We can, if we
work together. We can effectively put this
country back together. We must remember
that a house is not a commodity on Wall St.,
but it is a home, on our streets, in our
communities, affecting our lives
So let’s work together to
Reclaim, Restore and Rebuild …
for Real!
