We have built and completed our proprietary database fed by MLS that analyzes and identifies deals.
The database calculates a max offer price based on our specified buy-box parameters.
It auto-populates and sends contracts which allows us to send out hundreds of offers per week.
The Federal Government has imposed a nationwide foreclosure moratorium for banks across the country due to COVID-19. We believe the lifting of this moratorium will set off a flood of back-logged properties that will reenter the market through the foreclosure process.
In an effort to capitalize on this opportunity, our team has partnered with a seasoned foreclosure lawyer and title officer to help sharpen our due diligence and auction acquisition skills.
GR SFR purchased its first property from foreclosure auction in San Antonio, Texas on June 1st.
We are finalizing loan documents with Woodforest Bank for a 5-7 year $24M loan with a 4.25% fixed rate and no prepayment penalties. We have structured this loan to cover the purchase, construction, and hold period so that we do not have to refinance between short-term and long-term debt. The fixed rate eliminates our exposure to interest rate risk.
