Property23 specializes in providing affordable investment opportunities for is customers, making the most of low-cost foreclosed houses that would otherwise sit vacant and unsold. There are millions of foreclosed houses on the market, and Property23 invests in high-quality properties, refurbishes them, and helps customers make informed purchases.
There are many self-help tools and seminars that teach people to purchase foreclosed properties, but most still find it to be a formidable task when faced with having to find the properties, repair them to working condition, and then resell or rent out their investments. Property23 founder Sean Whalen saw the need to provide an easier path for potential home buyers in this section of the market and came up with a plan to buy properties in bulk for their customers.
“While we were evaluating investment opportunities, we also found a ‘sweet spot’ where there is a higher return on investment, using the property as a cash flowing rental property,” said Whalen. “The average price for a fully refurbished home from Property23 is about $42,000, and typically rents for $550-$650 per month. This makes an attractive investment for a first-time investor, or even someone with a high net worth.”
The investments have been well worth it, and Property23 is now approaching its 4,000th investment property in only three years of operation.
Proptery23 is an investment firm that purchases and sells affordable foreclosure properties. With recent economic trends forcing millions into foreclosure, the reselling of abandoned and seized properties has become a lucrative business. Whalen is just one of many who have managed to create cash flow for his company and home buyers looking for low-cost deals.