In an effort to help investors overcome the barriers to successfully investing in bank-owned homes in the[IMAGE]
Chicago area, ""Mack Companies"":http://www.mackcompanies.net/, a home redeveloper headquartered in Tinley Park, Illinois, recently introduced the Real Estate Cash-flow and Appreciation Program (RECAP).
According to Mack Companies, RECAP represents the lowest cost, highest return on investment, and easiest approach for small investors to profit from high-quality, positive cash-flow real estate. The company said this new program puts an expert at the small investor's side - a ""wingman"" with more than a decade of specific experience in buying, redeveloping, and leasing bank-owned properties.
""If you don't know what you are doing, one disastrous investment can wipe out your life savings and your[COLUMN_BREAK]
enthusiasm for real estate,"" explained Jim McClelland, president of Mack Companies. ""RECAP is a much better approach. Rather than buying chancy foreclosures at auction, we are giving investors the unprecedented opportunity to purchase tenanted, professionally-managed, and completely redeveloped homes at excellent prices that will help build their net wealth to achieve financial independence.""
Through RECAP, investors can purchase homes from Mack's inventory of properties located in stable, appreciating areas throughout Chicago's south and west suburbs. Mack Companies said these homes are in ""pristine"" condition and are guaranteed to be structurally sound, including roofs, walls and siding, foundation, plumbing systems, electrical, HVAC, and appliances. For a small monthly fee, Mack Companies professionally manages investors' RECAP properties and rigorously screens prospective tenants.
Along with long-term appreciation, this program provides investors with predictable monthly income. According to Mack Companies, investors receive a monthly rental check that will cover mortgage, management, and taxes and insurance fees, plus $200 to $300 per home in positive cash flow.
Because the properties are in excellent condition, demand by renters for RECAP homes is very high, Mack Companies explained. The company said average tenant tenure is five years, and the new tenant waiting list now stands at more than four months.