(Before It's News)
1888PressRelease – Minsk shall provide financing to low income and poor credit families with typically less than $3,000 investment to own a fixer-up home.
Los Angeles – Balfour MacGregor Limited, a private investment company based in Aberdeen, Scotland, announced that they formed a US based low income real estate investment company called “Minsk Finance”.
Executives at Minsk advised there are several types of properties the US Company plans to invest in, including houses, condos, apartments, commercial property and warehouses. However, they will primarily be focus on investing in seriously distressed single and multi-family properties.
“Minsk`s goal is to make home ownership more affordable than ever before,” remarked Chase Fonteno, President / CEO “without using any government programs, and still being a very profitable company. The key is making use of the vast number of abandon or tax delinquent properties that local city government’s sell at tax sales each year and putting them into the hands of individuals that can do the work themselves and otherwise cannot qualify to buy a home”.
Minsk Finance`s goal is to provide owner financing that is:
- Mortgage payments that are less per month than normal rent of similar property
- Financing terms that are less than the normal 25-30 years US mortgage, typically from 18 to 20 years.
- Down payment & Closing costs that are a fraction of the average $20,000+ needed by most homeowners to purchase a home.
Minsk Finance generally takes care of major repairs like roof, electrical and plumbing installations, but they leave smaller repairs like interior / exterior paint, broken glass, tile and other work like these to the new home buyer. The homebuyer is required to do these repairs prior to moving in – so they become more closely connected to the home and to break the ‘renter / landlord responsibility’ mental mindset, so they can truly become responsible homeowners.
“Once the renter / landlord responsibility mindset is broken – new homeowners that have never owned a home before, begin to make the connection between family and the home they own.” stated John Kendrex – Sales Manager of Minsk Finance.
Minsk Finance plans to roll out their investment program initially in cities of 400,000+ populations in the southern and mid-west states, starting with 5 cities and growing a few cities a year.
Minsk Finance is a private investment company based in the United States and owned by Balfour MacGregor Ltd., a company based in the UK. Minsk Finance invests in residential and multi-family real estate in Texas, New Mexico, Arizona, Indiana, Buffalo/NY, Pittsburg/PA, Atlanta/GA and a few other markets. They assist low income families in buying their own home, typically for less per month than they were paying for rent, through an owner financed program.
The statements made in this press release that are not historical fact, may be “forward-looking” statements which are based on current expectations that include a number of risks and uncertainties. This release is not made for the purpose of promoting any investment. Forward-looking statements in this news release, if any, are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and are not meant for any solicitation.