Working to get the economy moving through real estate investing and home ownership in the Humble,Kingwood, Atascocita and Spring, Texas.
Get to know Charles Gardner-Realtor/Investor
A. Company Information
I have joined ZIP Realty Residential Brokerage as of April, 2011. My association with ZIP will allow me to continue to focus on helping people solve their real estate problems and to be a source of knowledge for first time home buyers and real estate investors.
My company, Humble Homz, LLC (hereafter called the company) are both divisions of Darque, Inc will continue to remain as viable intities. . The company was formed in June, 2005 to invest in properties that may require some rehabbing or may be distressed in other ways. Humble Homz, LLC now has a realtor on board specializing in Short Sales.
B. Company Objective
The company purchases residential real estate targeting properties that can be acquired at 50% to 80% of the current fair market value (FMV) after any repairs. While the main objective is to make a minimum of 20% profit based on the After Repair Value (ARV), we are also aware of our responsibility to the communities we do business in, and our role in the betterment of these communities. Therefore, we always make every effort to provide products that are of good quality and will blend well with the neighborhood. The company's strategy is based solely on making the profit going in and not on speculative appreciation months or years down the road.
Charles Gardner-Realtor/Investor's Blog Posts
C. Market Analysis Summary
The main target areas will be those areas in high demand by first time home buyers, those looking to upgrade into modern renovated homes and investors. Once the target property is acquired, it is renovated (If needed) to match or exceed current market standards.
D. Acquisition Strategy
The company locates properties through a variety of sources including the Multiple Listing Service (MLS), investor websites, and referrals. These properties are typically for sale by owner (FSBO), pre-foreclosures, and bank owned properties (REO's). The condition of these properties can be from badly in need of repair to ones only needing minor cosmetic repairs. Since some of these properties have been neglected, they almost always need landscaping as well as major systems checks. We pass on properties with odd floor plans and those that may require major repairs. The company also works with home owners in short sale situations, negotiating with lenders and purchasing properties.
The most critical factor in the company's success is buying the property at the right price. We determine the FMV after renovation by reviewing comparable sales for the area and by using several formulas.