NEPALTA highlights INVESTMENT by individuals who RENOVATE older homes to deal with dilapidation in NEPA. The strong arming of government can and will never correct blight like the private ownership of an investor. Governments need to facilitate private investment rather than discouraging it via ill advised ordinances.
From Investors Network: NEPA
investorsnetworknepa@gmail.com(570) 798 7051
FOR IMMEDIATE RELEASE
June 15, 2014
Northeasrtern PA is a great place to live, but suffers from a lot of outdated, abandoned, and under-maintained housing stock. National TV shows feature “flippers” (investors) making money and helping communities – but are there enough such people in NEPA to impact our community?
Steve Franco and Rafael Norat of Good People Good Homes wondered that, and decided to find out. Good People Good Homes has been a landlord/investment company in the area since 2008, and have saved/renovated/flipped approximately 20 properties in that time. “It's rewarding, both financially and personally,” said Steve, “to renovate delapidated real estate. But it can often feel like a solo activity, working in a region with no community of investors.”
Since working with Rafael, an investor from New Jersey, Steve became aware that other regions had one or more groups aimed at investors/flippers/rehabbers. A longtime member of the Wyoming Valley Real Estate Investment Association, Steve has learned a lot from that group about being a landlord, and operating a real estate business in the Wyoming Valley. But since its focus is mostly on rentals and management, there isn't a lot of discussion about the buy/sell/fix cycle or available deals.
So, Steve and Rafael decided to get a meeting together of area investors, and create a regional community where people could share ideas, experiences, and of course deals!
“We really had - even have – no idea what this will become.” Rafael said. “In fact, we expected such a small turnout at the event that we planned it for the living room of our flip-in-progress.” Steve said “then we realized over a dozen people had called, and we moved it quickly down the street to Collarusso's restaurant in Avocafor more room.” On Thursday, June 12 more than 15 people met at Colarusso's for the inaugural meeting of Investors Network: NEPA (IN: NEPA).
The group that came was quite varied – from a timeshare resales professional to realtors, contractors, investors, landlords and even a few “newbies”. After talking and learning about each other for a couple hours, the group decided to set a formal schedule for their monthly meetings - second Wednesday of every month.
“At this meeting, there was no plan, no agenda.” Steve told us “ but at future meetings, we will ope by having everyone introduce themselves and their business, then a short informational/educaitonal presentation, and finally a time for members to network.” “Networking and making connecitons is the most important part” Rafael said.
The group currently has an e-mail address (
investorsnetworknepa@gmail.com) (website coming soon) and phone number (570) 798 7051, and is building an online community/social network and other tools and resources to help members work and network more efficiently.
For more information or to join the group, feel free to e-mail, call, or come to the July 9th meeting (7pm, Grotto Pizza Wilkes-Barre at the Wyoming Valley Mall).
Special thanks to: Bob Petro, Manager, Grotto Pizza Harvey's Lake and Beau Cote of IMP Web Works for developing our online presence.
THIS WEEK ONLY (till June 20) call Steve at 802 563 3101
