We have written before on how you can find previously undiscovered deals at smaller firms, and how their buyer incentive programs can get you a good home on your terms. But, did you know that there are a few select real estate investors who rebuild the economy of an area at the same time? While the country is waiting for the economy to rebound on a larger scale, these investors are taking matters into their own hands and helping the economy along, one community at a time, one home at a time.
Step One: Purchase Unused Properties
By purchasing properties that have been abandoned or left empty for too long, these real estate investors rebuild the economy of a small town by removing potential eyesores that could essentially bring down the property values of an area. The purchase also takes these properties off the delinquent tax rolls, providing needed tax revenue for the township in which these properties lie.
Step Two: Renovation
After the homes are purchased, each one is evaluated for renovation. These few real estate investors have as part of its business model, the desire to improve the economy as well as the lives of those who would purchase these properties at a later date. Each and every home undergoes a complete renovation, not only bringing them up to code, but also to a complete green status.
Each home is improved and energy efficient systems are put into place for future owners to enjoy. This also helps to improve the future of the towns where these homes reside, by doing their part to improve the ecology of the area, lowering the drain of these homes on the power grid, and reducing their carbon footprint for future generations to come. More importantly, unemployment in the area is eased through the hiring of local, skilled contractors and employees for the duration of the renovations. They always have projects going on, so employment is assured for far longer than the short-term.
Step Three: Giving Those Who Deserve It A Break
Once the homes are ready to be resold, they are offered on the general market, and advertised on the Internet for sale. No one is turned away on the basis of bad credit, never. Everyone deserves to own their own home, and these firms go out of their way to provide that chance to every deserving applicant that they can.
Through their bad credit financing programs, as well as their rent-to-own arrangements, these real estate investors rebuild the economy by giving potential homeowners the chance to finance the home of their dreams when other institutions have turned them down. An Investor will work with them, step-by-step, helping them apply for financing through their own network of direct mortgage lenders. If they do not make the grade, it is not the end of the road. Instead, they are offered a lease-to-own package, allowing them to rebuild their credit, and save up for the down payment at the same time.