Vision Property Management Services
Asset Management
VPM has an extensive list of bank contacts for REO inventory and cash investors who are consistently buying real estate. As a direct wholesaler for the bank, VPM’s asset management division shops lists of REO properties to qualified cash investors on a daily basis, submits bids to banks from interested cash investors, and brokers the transfer of real property through bulk REO purchases.
Property Inspection and Valuation
Years of purchasing bulk REO packages has allowed VPM to develop a team of property evaluators able to review over 1000 properties per week throughout the United States. Value per property or package is determined from a combination of location, listing or BPO pricing, comparable sales in the area, previous sales of the house, Fair Market Value, County Tax Assessment, appraisals, and condition.
Marketing
Each individual property purchased and/or managed by VPM will undergo a multi-tiered marketing program of proven strategies from online and classified advertisement to direct contact with interested buyers in that property’s area. VPM has an extensive, expanding list of cash investors and individual home buyers, especially in high foreclosure cities throughout the United States.
Home Owner Qualification
Owner financing is key to the success of an investment portfolio. Investors willing to hold a note balance and collect monthly payments on their property can see a significant return on investment. VPM has years of experience qualifying occupants well suited to purchase a house through a Land Contract agreement. Qualification includes a work history check, rental reference from a current landlord, credit and background check, and an internal analysis of income versus expenses and debts.
Note Balance and Real Estate Tax Management
VPM currently manages the real estate portfolios of over 20 investment LLC’s. Management includes oversight of performing note balances, dividing escrowed tax amounts from P&I payments, and scheduling all real estate tax payments due to the city, county, or municipality. This department also disputes tax assessments to lower tax liability, and helps home owners qualify for any available tax exemptions.
Credit Repair and Refinancing
VPM sets a goal to help a home owner refinance their Land Contract agreement within a 3 year period. VPM’s Credit Repair department contacts the credit bureaus on behalf of their owner occupants to dispute erroneous and derogatory credit report items while collecting information from each customer on employment, tax returns, checking/savings accounts, home owners insurance, and utility bill payments. Owner occupants are also coached on individual ways to positively affect their credit over the first 2 or 3 years under contract.
Collection and Repossession
In the cases where an owner-occupant does not abide by the terms of the Land Contract agreement, the time between repossession and resale is critical for the investor. VPM has established contacts with real estate attorneys, bailiffs, and eviction management companies who are fast and economical. VPM also has designed alternative strategies for repossessing homes based on presenting incentives to the occupant to vacate the property before a court hearing becomes necessary.
