We’ve all heard the stories about how people make money by purchasing houses in bad condition and then rehabilitate them to turn a profit. Many of these houses are purchased at wholesale prices by investors who are ready to pay cash for them. Sometimes the houses are even facing foreclosure because their owners are unable to pay the mortgage on them. That is why the properties were neglected for so long in the first place.
This opens huge opportunities for cash paying investors to come in and scoop up properties for low prices. Kris Gomez and his real estate investment firm, KMD Property Solutions, have achieved over a million-dollar net worth by perfecting this real estate investment strategy. However, Gomez and his company are not the only ones benefiting from their investments. The neighborhoods of these properties are also benefiting as well.
Just think about what makes a neighborhood considered good versus bad. Usually, it has to do with the market value of the properties in the neighborhood. If there are several foreclosed homes which need fixing in one particular neighborhood, then it will affect the value of virtually every property nearby. If these homes continue to be left in poor condition, then it won’t attract a lot of buyers on the traditional real estate market.
In order for the values of the homes in a neighborhood to be turned around, they need to be turned into desirable homes again. Real estate investors like Gomez are the ones who make that possible. He makes his living purchasing homes in need of rehabilitation. After he fixes them up and flips them for a profit to a traditional real estate buyer, it automatically increases the value of the neighboring homes. The people who own those homes are obviously very happy about this because it means they have a greater potential to resell their homes for a greater profit too.
KMD Property Solutions doesn’t just focus on a few cities in the country. Gomez has spread his investments to a nationwide level from coast to coast. As a result, entire cities are starting to see a growing population of homeowners because of Gomez’s ventures into rehabilitating real estate properties. Whenever a city has a growing population, it means more jobs are created.
Now, Gomez is trying to pay it forward by teaching other people how to do the same thing that he’s doing. On July 26th through the 27th, he’s holding the “Accelerator” event in Hollywood, California where he’ll teach novice investors how to get started in the real estate investment industry. The basic concept of his strategy is to purchase wholesale properties, fix them up if necessary, and then resell them for a profit. This, in turn, stimulates the local economy of the city and makes life better for the thousands of people who live there.
The more investors that rehabilitate and resell homes around the country, the more value these neighborhoods will become. Although Gomez may be creating competition for himself in the marketplace, he knows there are plenty of investment opportunities for everybody. So, he’s not too worried about it if he’s helping cities and communities throughout the country stay prosperous.