Turning Challenges Into Opportunities
Resilient Phoenix Homes is modeled after the success Waypoint Homes provided for its investors beginning in 2008. Resilient Phoenix Homes has adapted Waypoint’s below market value, single family home acquisition model to match the dynamics of the 2022 and beyond, post Covid, economic era. Moreover, Resilient Phoenix Homes has been prepared in advance to scale faster and on a national level from the start.
By way of analogy, Waypoint Homes began acquiring single family homes just East of San Francisco shortly after the 2008 economic crisis began. It went on by 2015 to have acquired over 15,000 homes and have over $3 billion in real estate assets under management, eventually operating after its acquisition as part of a public REIT.
A (CNBC) article on December 2, 2021, compared the post 2008 recession and the current Covid related societal challenges that present an economic opportunity for our investors. It can be viewed here. In summary, they reported that numerous borrowers have ended up too far behind to catch up on or restructure their mortgages, yet have positive equity in their homes, and will still need a place to live if they loose their homes.
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Resilient Phoenix Homes is prepared to capitalize on this opportunity on behalf of its investors … while also helping out homeowners with win-win solutions … and scale nationally.
Our rapid scalability comes from several key factors, including:- We have been training teams of people enabled with specialized phone dialing systems and customized phone scripts to contact potential sellers.
- We have partnered with Mynd Property Management, a national leader in systemized, technology enabled, single family residence property management, which is able to manage our properties throughout numerous markets nationally.
- We are led by senior executive leadership that has extensive experience with all of the psychological, structural, operational and, legal dynamics of negotiating off-market purchases from potential sellers who did not plan to sell their homes.
- We are dealing with sellers with equity rather than having to secure bank approval (as had been the case in the 2008 era short-sale situations).
- Therefore, while there may be fewer homes forced into foreclosure now than in 2008, we can buy from a geographically broad area and complete transactions to purchase high-quality properties quickly and decisively.
