More than 31,000 properties nationwide had a foreclosure filing in January 2023, a 36% increase from the same time last year, continuing a two-year-long trend of increased filings. Nearly 4,000 properties were repossessed through completed real estate owned (REO) foreclosures.
The steady stream of REO properties is providing both headaches and opportunities for financial companies, lenders, and investors. Whether you are looking to turn a quick profit, move properties off your books, or return them to rent-ready status, you will likely need to do some real estate rehab to get them ready.
When you have multiple properties in multiple locations, you need a fast, efficient, and affordable way to improve property conditions at scale.
That is exactly what Charter Construction Group does. Working as national residential general contractors, Charter Construction can handle everything associated with your REO rehab process to transform distressed properties into income-producing assets — at scale.
REO Rehab Specialists
Charter Construction specializes in real estate owned rehabs, understanding what it takes to get properties up to your standards quickly. Charter Construction has local contacts nationwide to handle any sized rehab project, including:
- Home repairs
- Remodeling and renovation
- Trash and debris disposal
- Remediation for fire, water, mold, asbestos, or pest infestation
- Hazardous materials removal
- Pre-market cleaning
No matter where the REO is located, Charter Construction will manage the resources and ensure your REOs meet local standards and regulations. With strong partnerships with local suppliers in most markets, you get access to high-quality work at affordable prices to get the work done on time and under budget.
Comprehensive Checklists and Customizable Plans
When you work with residential general contractors that operate nationally, you get consistency in how you approach the real estate rehab process.
Charter Construction will collaborate with you to develop a checklist for REO properties to align with your goals. This checklist can be applied to every REO project, although it can also be customized for unique needs. After a walkthrough, Charter Construction crews can tell you exactly what needs to be done to get properties market-ready according to local standards and make additional recommendations to further increase value.
Charter Construction Understands REOs
The experts at Charter Construction understand the REO market. Professional, licensed, and bonded crews work efficiently so you can sell or rent properties more quickly. With deep experience in the real estate rehab industry, Charter Construction makes sure every property meets local codes and regulations without forcing you to spend more money than is necessary.
At the same time, Charter Construction can complete renovations that improve property value to command higher rents or sales prices. Whether you need major renovations or minor repairs, maintenance, and cleaning, you can trust the REO rehab experts at Charter Construction.
It may be a cliché, but time is money. The longer your property sits vacant, the more likely it is to deteriorate and cost you money to maintain. The faster you can return REOs to show-ready condition, the sooner you can turn an expense into a profit.
Need a fresh coat of paint, major kitchen or bathroom remodels, home additions, or roof replacements? Charter Construction is ready to get the job done.
Real Estate Rehab Experts
When you need real estate rehab at scale, choose Charter Construction as your residential general contractor. Join the growing list of organizations that have trusted Charter Construction with their REOs, including:
- Fannie Mae
- Bank of America
- Farmers Insurance
- Wells Fargo
- Goldman Sachs
- REO and REIT investment groups
- Private investors
Having to work with multiple residential general contractors in different locations and worrying about whether they understand your goals and can get the work done fast can be a challenge. Let us help. Get your real estate owned properties in shape and ready without the hassle of dealing with multiple contractors or subcontractors.
With Charter Construction, you make one call, and we handle the rest. This lets you get back to business and let us worry about getting your properties market-ready.
Looking to get your real estate owned properties in market-ready condition at scale? Call Charter Construction Group today at 866-268-1632 or request a consultation online.