Matthew Scott
Hickory, NC (USA)
Role(s):
Founder/Owner/Principal
B&M Properties
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Startup
Location:
Charlotte
Industry:
Real Estate
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
B&M Properties is a startup idea that focuses mainly on the disasterous foreclosure market in the Charlotte, NC area. 1 out 3 properties in the Charlotte area sit vacant, victims on the foreclosure crisis. Lenders and banks are lowering their listing prices everyday on homes that are on average, just 2-3 years old. If purchased at, or just below, listing price, there is the potential for at least 40%-50% positive equity immediately. The overall plan of B&M Properties is to purchase these properties, rehab to rent, rent the property out, and then refinance and cash out one year to a year and half later.