We are successful in increasing and decreasing markets and believe there is still a big opportunity for local experts to compete with the big guys, but they really need a combination of local expertise, underwriting skills, and lower equity requirements.
Sacramento, CA (PRWEB) March 27, 2013
Aaron Amuchastegui, president and CEO of AMA Construct Inc, a leading real estate consulting group specializing in distressed assets, announced today the start of his national campaign to expand his team with house flipping experts.
Aaron Amuchastegui and his teams have bought and sold more than 350 foreclosed homes with a goal of quick fix-and-flip investments. They have assembled teams in five states, and are looking for more house flipping experts to join their team in nearly all metropolitan areas.
In 2009, Aaron Amuchastegui (CEO of AMA Construct Inc in Sacramento) began purchasing foreclosed homes on the courthouse steps. Following a homebuilder based management and sales strategy, his team started with the hope of buying one or two houses per month in the Sacramento area. Within a few months, the success of the operation quickly gained followers and Aaron was approached by JJ Mueller of Klaraos LLC Incline Village, with the idea that the two could quickly ramp up this operation to reach homebuilder type velocity and volume within a short timeframe.
“When we first discussed it, our family wasn’t sure we wanted to ramp up so big, mostly because the reason we quit our other jobs and started house flipping was because we wanted to work less and focus more on family. Our final decision was to give it a shot, since we thought this business model couldn’t last more than a year anyway, so we better do it while we can.” said Aaron Amuchastegui.
The housing market has changed drastically since 2009 when Aaron Amuchastegui and partner JJ Mueller first joined forces. Large companies, like Blackstone Group LP (BX) (through its company Invitation Homes), American Homes 4 Rent, Waypoint Real Estate Group LLC, Thomas Barrack’s Colony Capital LLC and more have jumped into this market with Institutional sized funding and returns betting on buy and hold rental models based almost solely on the bet that home prices have struck bottom and will increase. This has led to higher acquisition prices in the trustee sales, REO, and short-sale markets. These higher prices are pushing most traditional house flippers out of the market since they are unable to deliver investor returns like they once were.
“Our model has never been about increasing or decreasing sales prices and has instead been based on extremely short hold times. We are successful in increasing and decreasing markets and believe there is still a big opportunity for local experts to compete with the big guys, but they really need a combination of local expertise, underwriting skills, and lower equity requirements. With our equity requirements we are hoping to recruit the best of the best in each market, teach them how to use our proprietary asset management software, and give local flippers the ability to continue their business models in this new competitive environment as part of our team,” says Aaron Amuchastegui.
House flippers should email info(at)amaconstruct(dot)com if they are interested in joining the team.
For more information regarding this new venture please visit:
AMA Construct Inc : http://www.ama-assets.com
Aaron Amuchastegui Construction: http://www.norcalhomerestoration.com
Capri Property Real Estate: http://www.capripropertyrealestate.com