In 1989, the housing market in Southern California collapsed, and thousands of properties went into foreclosure. Two years later, we formed Dirty Work Construction Company, and spent eight years rebuilding over 5,000 foreclosed single-family houses, condominiums and apartment units in San Diego County for Fannie Mae, Freddie Mac, Home Savings, American Savings and Bank of America.
This work led to the reinvestment of our construction profits, as we started purchasing distressed residential and commercial properties. From 1994 until the 2004, we purchased, rebuilt and sold over $45 million worth of real estate in San Diego County. Founded in 1999, Rebuilding America, Inc™. became the main vehicle for our real estate investment activities.
In 2004, Rebuilding America, Inc.™, relocated from San Diego County, California to beautiful Pensacola, Florida. In partnership with our investors within the first year at our new location we expanded our portfolio of single and multi-family residential property and commercial office buildings to over 100 units valued at over $13 million. Today we have over 150 properties valued at over $26 million with new purchases taking place daily.
Americans today face a very serious housing shortage. New homes are becoming more and more expensive as land prices increase, materials and labor costs soar. Cities and states introduce and raise their impact fees and code requirements, and property tax and insurance rise. Rebuilding older housing stock provides affordable housing. With over 70% of the present housing inventory in America being over 30 years old, recycling older housing has become much more cost effective than building new homes.
Having seen this need for quality, affordable housing, and knowing how to provide it, Rebuilding America, Inc., has helped to form a new industry in the bulk purchase, renovation and holding for investment of previously under-maintained properties. Not only have we been able to create cash flow and positive equity for our company and our investor partners, but we have been able to affect other, more visible results.
It is interesting to watch the economic cycle that
begins with our choice to invest in properties within a very specific
area. With the improvements that we make to our properties acting as
the catalyst, the area begins a metamorphosis into a more beautiful,
well-kept neighborhood. We at Rebuilding America, Inc. are proud of the
positive social and economic impact we have in our community.
–INTERESTED IN INVESTMENT OPPORTUNITIES?
