Dallas, Texas (PressExposure) January 13, 2010 -- Who says business is slow? Not so for Dallas-based York Street Properties. It just closed on a three bedroom âstarter-homeâ in Dallas last week. And with acquisition costs are at an all-time low, itâs not difficult to get in on the profit -taking. The company specializes in helping the small investor to profit from real estate and is run by a third-generation real estate investor â Lance Puig.
âWe are seeing record deals on the buy side,â says Lance Puig, CEO.
Certainly, the lenders processing times are slow. True, there are no more NINJA loans, ARMS, sub-prime, no doc and all the rest of the assorted smoke-and-mirror loan products. But, there are banks that have to get loans placed and are looking to close on solid âvanillaâ deals. The wheels move slowly in this environment, but they do move. And when a bank is underwriting an investor with a 789 credit score who brings 20% in equity to the table, loans do get closed.
Some people are asking why banks are letting property go for pennies on the dollar while others are willing to finance those same purchases. Simple: Banks are not in the business of owning property; they are in the business of renting money. Banks need to transfer their asset risk to borrowers. That is whatâs essentially going on all over the US (one bank forecloses on its collateralâ¦while another bank finances the same collateral with another borrower). And the ones profiting are the small investor.
There are many would be investors on the sidelines that are getting sweaty palms at the very thought of jumping in with all that bad news going around. But York Street Properties has been taking profit and cash-flow from property for three generations. York Street takes the aggregate strengths of each investor on a case-by-case basis and provides a customized, turn-key solution. Some investors are looking for monthly cash flow, while others are aiming for that one time pop.
âBanks are slow, to say the least, but they are still funding the individual on the purchase of rental and other investment property.â - CEO, Lance Puig
York Street Properties is operate by Lance Puig, a third generation real estate investor based in Dallas, Texas. York Street helps the small investors to profit from real estate, while taking out all the guess work.
Visit http://www.yorkstreetproperties.com to review our free portfolio analysis tool.