By: Lydia Adams, Marketing Specialist, Visio Financial Services
Visio borrowers invest in real estate for all kinds of reasons—financial security, entrepreneurship, wealth for retirement—but along the way they are also building up their communities as they build their businesses.
Greg Parker, successful real estate business owner, uses Visio to flip multiple properties at once and is at the center of a hub of fixing and flipping in his hometown of Philadelphia in the neighborhood he grew up in, Brewery Town. His main motivation is lifting up that community.
“I’m serious about building up the city,” Parker said. “There are 200,000 abandoned properties here. It’s so easy for me to teach others. If you can educate even just 20 people, then the neighborhood is strong.”
Although Parker is fairly new to Visio, he has been investing in residential real estate for more than 10 years. A typical flip takes 6-8 weeks and is purchased at around $20K, and sold for around $150K.
“I made my fortune with flips. It takes me 6-8 weeks tops,” he said. “We have a great system.”
Visio borrower, Kenya Welch has been slowly building her portfolio of homes that are rented out with a slightly different motivation, to help out single moms in her community.
“It transformed into not only something fun that I could make money doing, but it was also something I felt good about,” Welch said “All of my tenants are moms. I’m a single mom and I know what it’s like. I’m able to help women like myself. Doing this allows me to give back. They’re winning, I’m winning, and I have the opportunity to do something rewarding.”
A grant writer by profession, Welch is used to being an entrepreneur, and real estate investment fits well with her personal and professional goals. She uses Visio to continue to invest part time as she builds her business.
“Visio allows me to do this at my own pace and to make forward steps," she said. "I’ve been able to put down the 35%, and I can do this one property at a time."
Long-time Visio borrower, Deborah Reul has used Visio loans on nearly all of her properties and enjoys the opportunity to take dilapidated properties and turn them into beautiful homes.
“My love is flipping. I take great pride in putting out a product no one else can do here” Reul said. “With Visio, it’s easy. All you need is an appraisal and 35% down. I can get in, rehab and get the homes sold in a few months.”
She has several houses she’s flipped in Vicksburg, Miss. and has used Visio for every one of them. Her future plans include more flips, and more loans as she continues to build her business.
“I’ve been with Visio from the beginning, and in the future I’ll still be flipping,” she said. “People get to know my quality, and I go over and above.”