Is anyone familiar with this compamy (EQUITYBUILD, INC.)?
This is what they say they do and how the do it. I would like to get into apartment complex ownership, but I have never done this before, I have only done SFH. They basically say they handle everything from locating the property and tenants, to rehab, property management and finance. See below for what they claim to do.
How We Work
When it comes to investing in income-generating properties, you really have only two choices:
- You can do it all yourself, or
- You can let EquityBuild take all of the hassles out of finding you a high quality cash-flow investment property.
When you decide to work with us, service is what you expect and service is exactly what we deliver.
On average, we save our clients over 50-100 hours of research time per deal.
This means you do not need to…
- Arrange for your own financing and waste time being turned down by your bank
- Spend countless hours researching which markets make the most investment sense
- Spend even more hours locating a property in rentable condition with cash-flow positive assurance
- Hassle with getting renovation bids
- Find reputable contractors
- Visit the site and assure the work gets done on time and on budget
- Invest in marketing the property
- Waste your time meeting with prospective tenants at your property
- Because as you know, a vacant property is costing you big money
Here’s How We Work Hard To Assure You Get The Perfect Property
Investment Opportunity: 5-Phase Plan For A Perfect Rental Income Property:
Buy Foreclosures and Undervalued Properties
Phase 1
EquityBuild’s experts identify and buy foreclosures and undervalued properties in good neighborhoods. With our decades of experience identifying and rehabilitating “fixer-uppers,” we can quickly calculate exactly how much it will cost to perform the renovations necessary to bring a potential rental income property up to suitable condition. Our experts can identify whether or not it is profitable to buy a foreclosure and turn it into a successful rental income property, greatly reducing the risk.
Luxury Renovations at Wholesale Prices
Phase 2
Next, our team of skilled craftspeople jumps into action. After the work is completed, EquityBuild’s inspectors will also be responsible for maintaining the property in the years to come. Because of this, our inspections are more thorough and our standards more rigorous than the competition. Within weeks, we take neighborhood embarrassments and bring them up to and beyond community standards. EquityBuild transforms rundown eyesores into attractive homes and apartment buildings. EquityBuild never masks problems with temporary or cosmetic repairs. Our investors benefit because we eliminate or minimize future repair and maintenance expenses by doing the job right the first time. This creates a dependable, appealing rental income property.
Finance Real Estate
Phase 3
When the EquityBuild transformation is completed, we have still committed a substantially smaller investment than what the property is worth on the market. This is the secret to our portfolio program. We can sell these homes at a deep discount to our investors and, as a result, we can finance real estate in a way that more than covers the entire cost of buying and rehabilitating properties. Clients can normally expect only loan closing fees of 7% to 10%.
Traditionally when banks finance real estate, they will lend between 75-80% of a property’s assessed value; this is why home buyers usually need to come up with approximately 20% of the value of their property themselves. When EquityBuild finances real estate, you don’t pay the market or assessed value, you buy these rental income properties well below what others would pay. This means that your mortgage loans more than cover the entire cost of purchase and rehabilitation. The minute you buy foreclosures and undervalued properties with EquityBuild, you already have 30-40% vested equity in your property. This, however, is only the beginning of our turn-key service.
Finding the Very Best Tenants
Phase 4
EquityBuild tenants go through two rigorous pre-qualification processes. The first is performed by the Housing Authority itself; the second is done by the EquityBuild Property Management Team. Housing agency personnel go to tremendous lengths to enroll only the most responsible working families into the rental income property program, families who truly want to succeed. Administrators of this HUD program spend the time and resources to thoroughly check the character of their recipients. From these applicants, the EquityBuild Property Management Team chooses tenants after a second level of qualification and interviews. The recipient families they choose are superb tenants. The EquityBuild Property Management Team members know that protecting the value of the rental income properties is what makes this investment opportunity work.
Property Management
Phase 5
Because your rents are paid directly by the Housing Authority, we do not engage in one of the primary functions of most property management firms: collecting delinquent rents. In return for the assistance voucher recipients receive, they are required to take responsibility for the rental income property they live in. Administrators insist that tenants care for their homes and monitor compliance. Though violations are comparatively rare, those who do not live up to the terms of the program risk having their participation revoked.
In turn, the EquityBuild Property Management Team works proactively with our tenants to solve problems before they become serious or costly. Our property management specialists inspect homes on a monthly basis, build positive relations with the renters and encourage our tenants to report issues with their homes so we can fix them before they become serious. Our team is available 24 hours a day; this allows us to work to prevent problems such as mold or infestations that might reduce the value of your rental income property. We keep your investment, and our tenants’ homes, in perfect condition.