Woodward Asset Capital Reinvigorates Communities with New Approach

When ""Woodward Asset Capital"":http://www.woodwardassetcapital.com, a Michigan-based company focusing on real estate acquisition and sales, found it difficult to buy distressed homes in bulk, the company's founders came up with a new plan. Ronald Jasgur, Rodney Carey, and Gerald Kazakov decided to buy the worst houses in the best neighborhoods and get them ""back on track.""
[IMAGE] ""The most dated, the ugliest, the houses where kitchens and plumbing have been ripped out and where ceilings have collapsed - those are the houses we buy and rebuild to set a neighborhood standard,"" said Jasgur, president of Woodward Asset Capital. ""We are boosting local market values.""

Woodward Asset Capital is inviting other investors into their business model to expand the work and increase community impact since these ventures are cash-only purchases of houses that don't qualify for financing.

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""In addition to portfolios of properties acquired directly from banks, we make offers on individual properties every day that fit our model,"" Jasgur said. ""More investors mean we can purchase, rehab, and sell more houses and get more people living in quality homes. The best opportunities are the crappiest houses in the best neighborhoods, the ones that an owner-occupant typically would not consider today.""

Jasgur explained that the company consistently sells each property within their expected timeframe and price range.

""[Woodward Asset Capital will] over-improve and make houses marketable, keeping neighborhoods intact,"" said Bruce Eck, building inspection supervisor for West Bloomfield Township, Michigan. ""They strive to build houses that are to code and meet all local ordinances, which is a win for the new owner and a win for the township.""

Wolfgang Von Mueller, president of the Whispering Meadows Association in White Lake, Michigan, said Woodward Asset Capital's rebuilding efforts saved his community.

""These guys took a property that was fast becoming a nuisance and turned it into a beautiful home with residents living in it,"" he said. ""The average sale a few years ago was over $400,000; we dropped to the low $200,000s. Thanks to their property, we are back to the $300,000's.""