Although we work with real estate investors to buy, renovate, and improve hundred's of homes in Memphis neighborhoods each year, we realized we weren't doing enough
Memphis, TN (Vocus) June 30, 2008
The Feol-Hinricher Companies in Memphis, Tennessee have partnered with CarbonFund.org to offer real estate investors an easy approach to offsetting impact of owning investment property. The company has worked to calculate the impact Memphis real estate has on the environment. Memphis real estate investors are then offered the first opportunity to participate in the program by purchasing carbon credits which go towards reforestation of the Tensas River National Wildlife Refuge in Louisiana.
The Feol-Hinricher Companies has just launched phase 1 of their Green Memphis Real Estate Investing program. The program will be the first of its kind in Memphis. The company has partnered with CarbonFund.org to create a custom program for its clients buying Memphis real estate. The goal is to offset the impact a tenant has on the environment. The company is already known for buying distressed homes and selling them to real estate investors buying in Memphis for cash flow. The company then works with investors to ensure the homes are rehabilitated, rented, and managed. This provides a significant impact on the local housing market by absorbing inventory left vacant by subprime foreclosures.
"Although we work with real estate investors to buy, renovate, and improve hundred's of homes in Memphis neighborhoods each year, we realized we weren't doing enough", says Robert Feol, Co-Founder of The Feol-Hinricher Companies. "Offsetting the impact a tenant has on the environment is the logical next step". But that is only the first step. The offsets are investing in reforestation in two projects, one of which isn't far away in Lousiana. The reforestation is one piece of restoring the 25 million acre habits in the Mississippi Alluvial Valley. "During the process we learned a lot about the various ways to impact the community", says Ryan Hinricher. "Planting trees is one phase of helping the environment. Understanding that aging trees impact release the carbon they have been absorbing makes us realize that there is a process to contributing to Green projects. There is more to it then just writing a check." The program is optional for investors to participate in but the company will purchase the credits should the investor decide not to. In addition the investor receives a certificate for their participation, stickers, and can deduct the offsets at tax time.
Memphis real estate investing has become its own industry within the Memphis real estate industry with many of the buyers being from more "green friendly" states like California, Oregon, and Washington. Investors are buying Memphis real estate because of the ability to cash flow positive on everything from single family homes to commercial properties. The company is known for being a place to buy wholesale priced Memphis investment property and currently services clients in 34 different states.
Also the company is already working on the next phase of their Green Memphis Real Estate Investing program. They are working with contractors and negotiating the costs of doing full Green renovations on homes. "Programs like this are a natural progression as our industry evolves and buyers become more aware of the positive impact they can provide", says Robert Feol. For more information visit The Feol-Hinricher Companies online at FHCompanies.com