Sometimes a struggling apartment complex just needs a fresh set of eyes and a new team that wants to make a difference. We are ready to take on the challenge.
Incline Village, NV (PRWEB) March 31, 2016
Aaron Amuchastegui, manager of distressed property acquisition company HomeRock, is announcing a new purchasing campaign that may be of interest to landlords all over the country. The company is currently focusing its efforts on buying distressed apartment buildings and multifamily properties nationwide.
With this current distressed property purchasing campaign, the company is seeking distressed or old apartment complexes with low rents, high operating costs, and low occupancy levels.
Amuchastegui says interested landlords or owners with a distressed apartment complex or multifamily property that they want to sell fast and as-is should contact HomeRock to see if they qualify. “Multifamily properties start out looking great on paper, but older, distressed properties often have monthly repair costs that compete with the price of rent,” Amuchastegui says. “If you own a property that just isn’t delivering the returns you’d hoped for and you want to get rid of the burden without having to fix it up, we may be the answer you’re looking for.”
Aaron Amuchastegui's team at HomeRock purchases distressed properties through a real estate investment fund where they diversify the investment across multiple properties. The goal is to provide steady returns to investors, while also decreasing neighborhood blight and improving living conditions for everyone involved.
In order to achieve this, the team is looking to buy apartments fast at deeply discounted prices. “Since these are investments, we need to acquire these apartment complexes at dramatic discounts in order to take on the challenge,” Amuchastegui explains. "We are trying to buy apartments at a large discount, enabling the existing investors or landlords to walk away and ensuring that we have the ability to make the capital improvements necessary to bring everything to a superior position.”
Once a distressed apartment building is acquired, HomeRock’s goal is to completely rehabilitate the apartments and transform them into high-end rental properties. They plan to partner with local agencies to provide a percentage of affordable housing (some section 8 or other government partnership programs), along with full market rental units.
“Good, low priced rental housing is hard to find,” Amuchastegui says. “We hope to dramatically improve the living conditions, without dramatically increasing rents. Sometimes a struggling apartment complex just needs a fresh set of eyes and a new team that wants to make a difference. We are ready to take on the challenge.”
Owners who are interested in selling their distressed property or apartment complex in as little as seven days can contact Aaron Amuchastegui at aaron(at)homerock(dot)com or visit http://www.homerock.com or http://www.ama-assets.com for more information.
HomeRock, located in Incline Village, NV with service sites in Sacramento and Texas, began work with distressed real estate assets in 2009. After the housing market crashed, business practices shifted to the attainment of vacant, foreclosed properties and their rehabilitation into marketable homes. HomeRock's success has driven its growth over the past four years towards a national scope with a more diverse market. HomeRock not only raises the value of a neighborhood, provides new homeowners with a quality product, rejuvenates the housing market and promotes the nation's economic growth, it also delivers consistent, rock-solid returns to its investors. For more information, visit http://www.homerock.com.
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