Richard Wyman

Monarch Beach, CA (USA)
Role(s):
Founder/Owner/Principal

First American Capital Real Estate Services, Inc.

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Location: Monarch Beach
Description: Acquisition of REO Asset Pools FACRES is soon to become an approved GSE Asset Pool Bidder on residential (one to four units) GSE real estate owned (REO) properties. FACRES is raising capital to pursue the acquisition of these pools of properties and provide the necessary funds to rehab the properties to a market ready saleable condition. This program was designed by GSE's to facilitate the stabilization of communities and provide refurbished homes either to be sold or rented. FACRES has developed the tools and employed the expertise to implement this program. FACRES provides an innovative set of proprietary analytic and predictive tools that provides the highest degree of accuracy in qualifying and valuating the acquisition and disposition of REO properties. FACRES has a proprietary web based auction platform, asset management and vendor management software platform that provides the scalability to successfully manage a large number of assets. These analytic tool sets will provide a significant advantage over the competition and a key factor in being awarded the winning bid on REO properties pools. FACRES’ team brings the real estate development and construction management capabilities, as well as disposition disciplines necessary to execute the plan, maintain positive cash-flow, and ensure growth. Market Opportunity • Millions of REO properties are being held by Government Sponsored Entities (GSEs) and banks whose inventory is growing daily. • GSEs are unable to dispose of their REO inventories to qualified buyers in a conventional manner and at a pace to keep up with the daily growth of foreclosures. • Most of the properties being offered need to be rehabbed prior to being suitable for sale. • REO properties are currently being released on a Regional basis. Those who can exercise their models nationally will receive preferred status. Strategic alliances, adequate capital, and efficient management systems will allow us to expand from a Regional to National level. Capital Required We are seeking a capital partner to provide the funding for the acquisition of the GSE's April 2011 pools of single family REO properties , as well as sufficient capital for the refurbishment, supervision, and operating costs necessary to make the properties market ready. The methodology for the implementation of this plan will be outlined upon the receipt of the 4/11/2011 Tape.
Services Provided:
  • Business Consulting