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About Our Fresh Start Homes Program
In conjunction with Equity Properties Asset Management, The Chang Group and Precision Realty Services has instituted its Fresh Start Homes program.
Fresh Start Homes has been formed by the request of many of our institutional clients. These clients were looking for a one stop company that could offer a full range of asset management services to institutional clients wishing to outsource the stabilization, asset management/improvement, and sale of their REO assets.
On the residential side of our company, our program is unique, because we have a large numbers of investors that are able to purchase an asset relatively quickly. We give that investor a qualified tenant who will lease the home for up to 18 months. We give the tenant a portion of their rent towards an eventual purchase, and we participate in PRBC’s FICO Plus© score which enhances our tenants credit score. At the end of the lease, the tenant purchases the home at the same payment as their rent.
We have several lenders that have chosen to partner with us and take a longer view on their REO assets just like our investors. Never lived in single family homes in Lehigh Acres for example are being purchased by investors for as little as $50-60,000 dollars. Those same investors are selling the home 12-18 months later for $110,000 or more in the fresh start program. With our institutional clients, everyone participates in that increase. In many cases, we are able to increase our clients net by as much as 50%.
On the commercial side of our practice, we have principles in our company who have over 100 years of commercial real estate experience combined. Our principles were active in commercial real estate during the RTC years and know too well the challenges that will be faced by our clients in the coming three years. Again, we have a significant number of investors that can acquire your assets quickly, or can participate in the stabilization, turnaround/lease-up process. With all of our commercial assets that we manage, we prepare a 1, 3, and 5 year plan to sell your asset at the highest price given expected market conditions. The difference between us and other companies is that we own commercial real estate as well. We think like owners/buyers, not like Realtors.
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