It's Friday

I'm new to blogging - I like writing but have not blogged before. I am working to commit myself to daily updates that will, I hope get more and more interesting as I understand what readers are looking for and the medium becomes familiar to me.

Who am I? I returned to the USA after 19 years living overseas. I'm still adjusting - its been a bit of a culture shock - but in a good way. I made a rash decision to check out some different markets in the US, and ended in Columbus Ohio. After cities such as Moscow, London, Cairo, Tokyo, Singapore etc, Columbus is an experience of its own - not all bad. I'm still adjusting.

As of now I am writing in first person - I'm trying to get out of the business mode that I live and breath every day. I'm sure I'll slip into business lingo from time to time - if so, just give me a heads up and I'll change my language!

Now, what do I do? I run RenuHomes. I created RenuHomes after I left my corporate position. I didn't expect the stock market to tank, to loose 75% of my IRA money, to see the value of my housing holdings dip to 2000 levels, or to commit to a nomadic lifestyle at the time. I only thought of taking my business model created in business school, and implementing it. It's been a wild roller coaster ride since then. About my organization. I work in real estate. I am NOT a real estate agent. I am NOT a house flipper. My organization is am umbrella organization which has 3 components - a consulting arm for investors, a renovation arm (known from now on as 'branding', and a placement service for 'buyer tenants'. Its product creation in an industry which has no defined 'product'. I daily get looks of questioning when I say 'my product'. "What is your product"? "A house?" (brow furrowed - the asker trying to clearly understand 'product' in real estate'). Yes, a 'product'. I am going out on a limb here and will say it's a great product by the way. It has significant returns - up to 15% on a monthly basis, and has a nice little cash annuity at the end of the 'term' after the buyer leasee purchases. Let me give you an example (these are live projects - you can buy them now - my email is posted - but please provide phone number so I can ring and discuss)

Project 1
Buyer tenant has 5000 deposit down
Buyer tenant will pay 850 per month
Buyer tenant can purchase up to 125,000 (meeting appraised value)
Term of project - 12-18 months.
Investor purchases unit for 100,000
Great return on investment and risk is low with this couple.

Project 2
Buyer tenant has 3000 deposit down
Buyer tenant will pay 1250 per month
Buyer tenant can purchase up to 145,000 (meeting appraised value)
Term of project - 12-18 months.
Investor purchases unit for 110,000
Great return on investment and risk is low with this couple.

Project 3
Buyer tenant has 3000 deposit down
Buyer tenant will pay 800 per month
Buyer tenant can purchase up to 110,000 (meeting appraised value)
Term of project - 24-30 months.
Investor purchases unit for 85,000
Great return on investment and risk is low with this couple.

This gives you an idea of the types of return - a calculator will compute the yields. What is my job and what do those projects have to do with me? I locate the 'Investor'. I place the 'Investor' with the Buyer Tenant. I 'Brand' the house the buyer tenant moves into. And my organization manages the process to funding - in tandem with my partner organization. I am creating financial independence for investors - using property as the vehicle. It's easy? Not so! Yesterday I previewed houses. Here's what I encountered:

House 1.
People were still living in the house. Picture smelly clothes all over - bathrooms that had not seen a sponge or cleanser in weeks (months?), carpet stained and dirty, kitchen sink full of rank dirty dishes....well I think the picture is clear on that property.

House 2.
Nice looking house on the outside. A HUD house. I have a key to HUD houses, which works on all houses posted by HUD. I tried to get into the front door - but the key did not work. Tried the back (tramping in the snow by the way - I was well dressed as I was going to an evening function after), key did not work. Called the agent - he know nothing, nor could he say why the key didn't work other then he thought someone else (mystery person) was changing locks and cutting deals. He told me to call the management company. I called. In the process - I fell (icy cold here, ice and snow everywhere). Dropped my iPhone in the snow and thought I lost it due to moisture, but it was saved! Management company confirmed a rogue agent (yes rogue!) was selecting the best HUD houses, changing the locks and trying to cut deals with them. He also confirmed agent is now in jail, and the locks would need to be changed again. He agreed to ring me after the new locks where on.

House 3.
Nice looking house from the outside. An empty house....I think. I retrieved the key from the lockbox and opened the door. It would open only an inch. Blocked from the inside. I pushed, leaned back and kicked, but the door would not budge. I house is impossible to enter. It's owned by a bank - but potential buyers can not get into the house to view it. It seems someone is squatting in the house. I'll not even go into the steps required to be able to view the house. I will try again this weekend, and if you are interested - I'll let you know the results.

Welcome to the world of bank foreclosures, REO's, HUDs and short sales. It's like the wild west, and its growing. But it's a business with its own rewards and I enjoy it.

This is day one. You are always welcome to contact me - but I have to go back to work now, and inform my clients of the results of my house search. More later!