Retail Acquisition and Management Program Helps House Low-Income Families
FORT LAUDERDALE, Fla., Dec. 15 (PRNewswire) — HBA Homes LLC, a South Florida-based real estate investment firm is partnering with non-profit agencies to makes dreams of home ownership come true for low & moderate income families in Florida and nationwide just as they did for one West Palm Beach family.
Sean and Tamara Riley praised the program that landed them into a home for the holidays. “We finally have a home of our own where we can raise our family. God bless the good people who offered us this assistance,” said Sean Riley, about HBA’s REO real estate investment program.
HBA Vice President, Steve Tacher explains, “Our Company’s program is unique. We partner with a non-profit who provides our investors with pre-approved end buyers waiting to purchase a home. Investors like this approach because it helps reduce the risk of having to hold onto a property they can’t re-sell. Most investors who flip homes, purchase, fix, then try to find a buyer. We do the opposite. The buyer is already lined up. HBA partners with the investor and purchases the foreclosed home from the bank at a deep discount. Once renovated the home meets or exceeds current market value and is sold to the end buyer whose been waiting to close.”
HBA manages the investment from acquisition to closing and provides investors with a secured first mortgage lien on each property, which accrues at 12% interest, or they receive 50% of the net profit, whichever is greater.
Long time HBA investor, Nelson Leal enjoys the return on his investment, but says, “It’s neighborhoods and cities that benefit from HBA’s program which rebuilds value, increases the tax base, benefiting schools, employing laborers and helping American families obtain home ownership. It’s a win/win for all parties involved.”
The company is engaged in raising money through a private placement memorandum, which Tacher explains “is needed just to keep up with demand.”
“Real estate investment trusts, individuals, American and overseas buying groups, private equity and hedge funds are seeing an above average returns with HBA’s innovative approach,” Tacher added.
For more information, contact Ellen Segal-Tacher ellentacher@gmail.com (954) 709-1164 or ask for her at TransMedia Group 561-750-9800 x210 www.transmediagroup.com.
SOURCE: HBA Homes LLC
