CashflowandEquity.com is the website of Cornerstone Investment Group, a company that has gained recognition for its specialty–offering turn-key properties to real estate investors. Simply put, this investment company promises to ease the “headaches of being a landlord.” No simple task, but the company says it can do this by providing properties that are “renovated,rented and with available property management.”
Vertically Integrated Lending Arm
To make turn-key type investments virtual no-brainers, Cornerstone offers a financing arm for properties bought through its website. The “Preferred Lender Program” -the company promises, will take any potential sting out of qualifying, which anyone who has ever purchased any property can tell you can be a consumer nightmare. But, Cornerstone says it offers fast closings and low down payments. This doesn’t mean, of course, that just anyone can benefit from the lending program:
**The potential buyer MUST have a minimum credit score of 620
**Must be 18+ years of age
**And, have a buyer debt-to-income ration not exceeding 50%
Focus on Foreign, In addition to Domestic Investors
So far, so good. These folks seem to have given much thought and have apparently covered all possible angles. For example, this is the first company I have seen that also caters to the foreign investor looking to buy property in the U.S….it does this through it website http://www.usacashflowproperties.com
Strategically Locates Properties in Affordable Western New York State
Of course, Cornerstone has a strategy: to locate properties in Western New York State. I personally believe this is a good plan since properties in this part of the country are extremely affordable at this time. But, even white clouds can have a darker lining. There is plenty of evidence that the area is not exactly on the upspring. The City of Rochester’s own estimate is that nearly 66% of the structures in the city are rental properties. And, over in ever snow-bound Buffalo, nearly 59% of the city’s structures are rental. The obvious down side to this is there is also plenty of evidence that areas with a greater concentration of home ownership,for example,tend to have residents sharing a far more attractive socio-economic profile. And, while The Economist just published a story concluding that Rustbelt cities such as Buffalo have a real chance to stage a dramatic comeback, it cautions at the same time that this is not likely to occur overnight. In part, this is due to the economies of Buffalo and Rochester which are not ,what one might call,booming. And, there has been talk and unfulfilled promises before by civic leaders that both cities would have a major turnaround. So, only time will tell.
But, one doesn’t need time to tell that all this translates into cheap properties, yes, but also properties not likely to see much appreciation in the short term.While the properties offered by Cornerstone all come complete with built in equity, investors should be made aware that it is of vital importance to closely examine and consider cash-flow.
Established Property Management
As for its much advertised property management, Cornerstone has established relationships with various companies making it possible to offer management services at 10% of collected rents. Just some of these services from management include:
- Rent Collection
- Dealing with various Rental Public Assistance Agencies (i.e., Section8 )
- Tenant Issues
- Repairs and Maintenance
- Tenant Placement
- Lawn and snow removal services (when needed)
- Monthly statements with Expense records
You should be as comfortable with your property manager as you are with the management company you have hired. With that in mind, we’ve assembled a few important points to consider and have gathered them here
Large Availability of Properties for Rehabbers and Landlords
This company works not only with landlords but also with other types of investors. And, since it can secure properties at wholesale prices, it can sell these properties directly to rehabbers–and, still turn a small profit. So, if you happen to be a rehabber with a yen for Western New York State, all you need to do is fill out a form and you are now in the loop to learn about upcoming deals.
Finally, the properties themselves. As of today, Cornerstone has 177 properties listed on its site. After browsing for just a minute or so, you can see there are many potential opportunities for investors large and not so large.
So, if you are in the market to pick up some affordable, cash-flow properties, I’d certainly take a serious look at Cornerstone Investment Group via its website, cashflowandequity.com. It is a company that seems to have its act together, offering deals that should make it easier for newbie and hand’s off investors alike.
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