"We figured out a way to create a win-win situation for hardworking American families who wanted to own a home and for investors to make excellent returns.”
Teaneck, NJ (PRWEB) July 13, 2010
As stocks remain volatile and real estate values decline, the struggling US economy needs innovative solutions for investors and homeowners alike. In response, First Fidelity Homes, LLC, has introduced a turnkey real estate investment program that helps solve America’s foreclosure crisis and makes profitable foreclosure investing accessible to everyone.
Farouk Sheikh, CEO of First Fidelity, wanted to design a solution for investors who were eager to invest in foreclosures, but lacked the knowledge, time, and resources. At the same time, there were homeowners who needed affordable lending options. “We figured out a way to create a win-win situation for hardworking American families who wanted to own a home and for investors to make excellent returns in foreclosure investments,” explains Sheikh.
First Fidelity buys properties in bulk directly from banks and government institutions at a very low cost. These savings are then passed on to homeowners nationwide who purchase these homes under an installment agreement. The real value for the homeowner comes in the fact that their monthly payments are structured to be significantly less than market rent in the area so it becomes cheaper for them to own than to rent.
As homeowners, not tenants, they assume the cost of property taxes, insurance, utilities and all maintenance. These cash flowing properties are then offered to investors at a further discount yielding a targeted return of 16% annually. The investment strategy is based on cash returns secured by real estate and the investor’s role is similar to that of a bank and involves no landlording and no maintenance. According to Sheikh, “The win-win situation for the homeowner and the investor is what makes this a realistic and financially viable situation for all stakeholders involved.”
For more details on First Fidelity’s investment program, visit http://www.firstfidelityhomes.com/ProgramOverview.
About First Fidelity Homes
First Fidelity Homes is a socially responsible real estate firm headquartered in New Jersey that offers cash flowing foreclosures at a discount to investors. The firm has been involved in over 250 bank owned real estate transactions.
# # #