2/28/17

I want to begin by sharing my understanding of what I mean by a distressed property. It can be any building or property that has been foreclosed on, or a short sale, or vacant, or in a trust, or an estate sale, or just plain run down or owner must sell, or any combination of each; you get the point. For me a distressed property has two important elements. First, the combination of the sale price, cost of rebuild and the resale market, and second, it’s significance. So, to begin with and most important is the “return on investment” commonly referred to as ROI; will it have return value after completion? In other words, will it make money if I sell it when done? This could be in the form of immediate resale, or increased value for financing, or increased cash flow, or for future updated value. The second element for me is more personal, the property’s significance. Does the property have historical value and, or is it architecturally interesting, or is it located in a changing area and, or is it in a neglected neighborhood seeking change and, or does it qualify for housing grants, or is it just different? Why significance? It’s my passion that drives me to bring back life to the old; holding true to the principle of reclaiming, repurposing and rebuilding by facing the challenge and restoration of the art form in it, “form follows function” while having fun.