Michael Labak
Algonquin, IL (USA)
Role(s):
Founder/Owner/Principal
RESCU Acquisitions
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Startup
Location:
Algonquin
Industry:
Real Estate
Year Founded:
2008
Number Employees:
1-10 people
Description:
RESCU Acquisitions, LLC, was created to specifically acquire,develop and operate deeply “discounted” income producing real estate given the favorable market conditions in the real estate space for this type of investment. Discounted real estate includes, but is not limited to, preforeclosures (short sales), post foreclosures (bank owned REOs), HUDs/ auctions, and greatly discounted or negotiated “retail” deals marketed on the MLS and other realtor websites. This real estate ranges from residential to commercial multifamily to mixed use properties to strip malls/ neighborhood centers.
RESCU'S sister LLC companies have been functioning and operating and generating cashflow for 5 YEARS!
The current equity of RESCU Acquisitions allows for additional securitization of private capital and has the net operating income (cashflow) to make increased investor debt payments. Three simple acquisitions made during the past year generated $100k in NOI and $400k of current day equity based upon approximately $115k in investment. The returns speak for themselves.
In its most simplest form, the Company intends to "rescue" the property, it's bank, or owners/ tenants.
Through multiple lead sources & relationships in the overall foreclosure space, RESCU Acquisitions targets prime properties in prime markets and submarkets that have significant "real time" equity based on comparables that are being offered at high capitalization rates relative to the area. Current and proforma cashflows are calculated to achieve the Company's desired metrics & profitability, which are more than suitable to conventional banks for financing.
The company targets foreclosures & other deeply discounted real estate in Il cities & neighborhoods that have strong rental & income demographics, along with numerous sales comparisons, located within a 40 mi radius of the corporate HQ. From Chicago thru Schaumburg to Rockford, all major N-W-NW cities/ suburbs and their in-between submarkets are considered.
Competitive advantages include, but are not limited to: realtor and commercial bank relationships that allow me the "inside" track to discounted deals & provide financing, targeting the mid tier level of properties ($500k-$2M) that are too expensive for mom and pops and too small for hedge funds. Mike's passion for profitable, income producing real estate, acquired at deep discounts, is his tenacious advantage.