August 26th, 2009 - DALLAS, Texas - In the light of the current financial crisis, pressure is growing on finance institutions with investments in real estate and homeowners are finding it more difficult to meet mortgage payments; however, not everyone has suffered under the current financial woes. While investors are running around scared on Wall Street, on Main street a real estate financial firm has stood strong, if not actually benefited in the face of the crisis. York Street Properties Inc. has consistently been helping people purchase and hold cash flow real estate. As their strategy largely depends on taking advantage of undervalued real estate, this small but aggressively expanding company has solidified its grab on the distressed property market. As more and more homes have been returned to lenders, York Streets process scoops up this burden and turns it into profit for itself and an extremely attractive one for its clients. Nor has the performance been just a result of this years crisis, this third generation real estate company run by Lance Puig has a history in both commercial and residential investing.
York Street Properties does not have a speculative strategy, but rather is based on systematically looking for distressed properties. As the market has turned south and many companies are currently experiencing hardship, York Streets model has not only been unaffected, but has actually strengthened its bottom line. Here is how their patent pending process works:
Lets take a couple (we will call them the "Smiths"). They are in their early 40shave two young children and both work. They have good credit (scores above 700) and about $30K in savings or an IRA. Mr. Smith has friends who have made money in real estate in the past.but he really doesnt understand how it works and doesnt have the time to drive around all day looking at run down properties. So he calls York Street Properties and they perform an evaluation. They determine that Mr. Smith has the credit score and job history to qualify for three cash flow rentals. York Street Properties then goes to work to present a loan package to several banks. Mr. Smith contracts with York for three homes which have recently been fully remodeled and are rented. Two banks like the deals (both the properties and Mr. Smiths financial profile) and they are off to the closing table. When its all said and doneMr. Smith has purchased three fully remodeled cash flowing properties that put profit in his pocket month after month and all the property management is handled by York.
"Real estate is not an artits a science" Says Lance Puig. His company has mastered the science of identifying property that will yield a healthy long term cash flow for its clients. And what about values you ask? Mr. Puig has an answer for that one as well: "In an environment of moving valuesthe only thing you can quantify with certainty is cash flow." Apparently, if the property has monthly cash flowand the owner is not under pressure to sellthere is really no issue with value at all. The property investors who are having a difficult time selling are ones who dont have tenants that otherwise would take on the burden of loan interest, taxes, insurance and of courseprofit. Its a "wait out the storm" approach to real estate investing. Its one that has been working for the prudent investor for decades.
Contact Information: www.yorkstreetproperties.com Lance Puig is a frequent guest on radio talk shows around the country and can be contacted for an article or interview at the following email address: info@yorkstreetproperties.com or at 800-886-6090
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