There are multiple exit strategies when purchasing properties under this REO Program. For additional information contact one of our representative.

Seller Financing:

The Community Home Ownership Program was founded to give hard working families an opportunity for the American Dream. Under this program approved candidates pay the mortgage, taxes, insurance and maintenance, which is equivalent to market rent. After 10 years they own the home free and clear. Members can enlist properties into this at which point you would become the bank by providing seller financing to a qualified purchaser using a Land Contract. The property supplier will prepare the loan package for you and provide loan servicing. The advantages include no landlord headaches, you can sell the note, passive income and for a lot of our clients the most important aspect is giving back to the community.

Rent it out:

When selecting areas the property supplier focuses on strong rental markets to insure an adequate number of tenants and reduce vacancy losses. One of the exit strategies for recuperation of capital and profit is to rent out your newly acquired unit. If renting out the unit there may be additional updates needed to lease your property such as appliances, air conditioning, paint, flooring or other items depending on how much you are looking to charge in rents. The advantage of renting the unit as apposed to using Seller Financing through the Community Home Ownership Program is you continue to own the property so you have all rights to equity and appreciation. The disadvantage is you are a landlord which includes the risk of attrition, vacancy, repairs and finding adequate property management. Regardless of your choice by being an member we will ascesis you throughout the life you own the property.

Fix and Flip:

Once you purchase the property it is yours to do with as you see fit. The supplier does not recommend the Fix and Flip approach in todays market because of the limited buyer pool due to the credit crisis. However comps in these areas can run between 45k – 130k which can mean a huge profit if sold closer to market value. You may want to put an additional investment into upgrading the property depending on the sales price you are looking to accomplish. The supplier has contractors on site to assist if you choose this route.