Building Up The Old Neighborhood Hometown Pride-Investors have been working to renovate old neighborhoods.
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Revitalizing Old Neighborhoods: The Role of Passionate Investors
Summary
Transforming old neighborhoods by purchasing and renovating homes has become a thriving career for private investors, providing significant benefits to cities in need of revitalization.---
If you've noticed dramatic improvements in previously neglected parts of town, you're not alone. Investing in the renewal of communities has become big business, benefiting towns nationwide.
The rapid purchase and renovation of residential properties have become a popular career path, injecting much-needed energy into cities requiring a facelift. For example, Red Brick Investment Properties, LLC, a HomeVestors of America franchise in Gary, Indiana, excels in this industry, renovating homes from top to bottom in just 10 to 12 days. Their efforts have earned them a partnership with Gary's Community Development Department, offering first-time homebuyers attractive discounts.
But when is a home too old to be saved? In Macon, Georgia, the answer is never. Charles Rutland, a dedicated real estate investor, fought to keep his childhood neighborhood, Pleasant Hill, on the National Historic Register. His HomeVestors franchise, PRG Realty LLC, committed $1 million to restore homes in the area.
Instead of demolishing the historically significant shotgun houses, Rutland saw potential and an eager audience ready to invest in and preserve this piece of history. Pleasant Hill, one of the first places in Georgia where African-Americans could own real estate, now has a promising future.
This positive outlook is shared by thousands of homeowners across America enjoying affordable, attractive starter homes thanks to investors who are committed to enhancing existing neighborhoods. HomeVestors, with over 250 franchisees in 33 states, plans to purchase more than 8,000 homes in 2006. What was once considered unattractive real estate is now filled with potential for investors and future homeowners alike.
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