Linda Taddonio
Brockport, NY (USA)
Role(s):
Founder/Owner/Principal
Future in Focus, Inc.
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Startup
Location:
Brockport
Industry:
Real Estate
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
Future In Focus, Inc. was created to facilitate purchasing, renovating and reselling of REO/Bank Foreclosure and other distressed properties.I am a Licensed Real Estate professional and have access to properties being sold at 50 to 70% of their after repair Market Value. This enables me to make a profit in two ways. 1)Purchase, renovate and resell (otherwise known as a "Flip") or 2) Wholesale the property before renovations to another investor who would like to "Flip" the property.
An example: I have recently acquired a single family home in Clarkson, NY for 82,000. The property's 2010 accessed tax value is 147,000! That was a brand new accessment performed in 2010 while the house was in foreclosure. I will put about 10,000 into renovation of this home and an additional 10,000 in acquisition, financing, and carry costs. With a very fair sale price of 135,000, I will make 28-35 thousand, depending on Realtor Commissions on the sale. I funded this 1st deal with my own money and am anxious to do another. On the purchase alone I aquired over 65,000 in Equity! The best part about this is I feel like I am helping the community. I have hired two general contractors who needed work and am bringing a home into marketable condition for the public to purchase. Without Future In Focus stepping in, this home would not have been mortgagable due to the condition it fell into by being one of the millions of empty foreclosures in the U.S. There are many,many of these properties that are unable to be purchased by anyone who is looking at traditional bank financing. I am bringing homes back to the marketplace for potential homeowners. I do need additional financing, my contractor will be finished with this home in two weeks and I will be ready to aquire the next property.