I get a surprising number of questions along the lines of, “What is it, exactly, that you guys DO?”
Why of course, we make sad houses happy again and work toward a better life for everyone…those are our catch phrases. That’s all true. How do we do that? What’s involved in creating all this happiness?
Sure, we talk about what we’re doing a lot here in the old blog, because we’re hoping our experiences help new folks in the business avoid mistakes or learn from our successes.
But we don’t really spell it out, and our introductory posts are from way back in 2015 (yay, we’ve been in business a while!), so let’s talk.
…a lot of work. If you really ARE new, please check out this great introductory post from FortuneBuilders, where we learned a lot. And if, unlike me, you like dictionary definitions, here’s what the Commercial Real Estate Dictionary says:
Redevelopment is the replacement, rehabilitation, or repurposing of existing improvements on an already developed site.
Yep, that’s pretty much the basics. We aren’t builders; we take things that need help and make them safe, up-to-date, and worth living in. We don’t buy old houses and rent them as-is, either. We want that better life for our buyers and renters.
Some of our work is keeping track of money coming in and going out. Lee does a lot of that. We also have to have houses to buy and sell. Carol and Russell specialize in that. And we have to publicize our work. That’s me.
We like that our business provides work for many others, too. That seems like the right thing to do. We give work to or make money for contractors, architects, real estate agents, hardware stores, and more!
You’ll probably notice that we’ve done some other things and are planning to do more. We do have rental holdings and we invest in other redevelopers’ projects.
And Sue Ann and Lee have that crazy notion of funding their office building by making it an event venue with a bed and breakfast across the street. That’s branching out a bit, but does contribute to making people’s lives better, don’t you think? And it fits in with the “repurposing” part of the definition I found.
Look forward in the coming days to learning more about what Carol and Russell have been doing to help sell high-end houses, and a guest post by the redeveloper who has purchased Mattress 8!Hermann says please like and share!