Our REO team offers owners of distressed properties a full service, customized real estate solution that will help generate cash flow and improve the return on investment.
Northeast Property Group has played a key management role within the institutional real estate industry solving the problems associated with our client’s real estate loans and owned properties.
Our experienced Real Estate professionals perform initial due diligence, manage the takeover process and provide long term management planning. Northeast Property Group offers the important skills necessary to operate properties successfully, resulting in the maximizing of real estate values.
For over twenty years, Northeast Property Group has played an elemental role in the repositioning of many real estate assets. We have repeatedly been selected by courts in Connecticut to act as Property Receiver on large multi-family, commercial and industrial buildings. These experiences have fine-tuned the management oversight skills necessary to excel in this difficult field.
As a full service real estate company, the skills of our property managers and brokers work together to reshape an asset when it becomes REO. We excel at repositioning the asset by implementing our real estate marketing and management skills, creating value and expediting the eventual disposition of the property through our brokerage arm.
Owners of single units, multifamily residences and commercial property alike receive strategic management planning customized to their unique needs. Our time-tested systems and protocols allow for rapid implementation as we know time is of the essence when dealing with distressed properties.
We believe a key component to bringing stability to the housing market lies in ensuring foreclosed properties are occupied, thus mitigating losses for homeowners, investors and associations.
Our objectives for REO properties and properties that are in need of a receiver are simple:
- Maintain and enhance the asset’s value by implementing sound management practices
- Mitigate damages
- Remove hazards
- Bring to market in shortest possible time
- Prepare drive by inspection
- Provide maximum potential return
- Rejuvenate and improve appearance
- Reduce lending institutions losses
We achieve this success by utilizing our 32 years of experience in the field of property management and real estate brokerage. Northeast Property Group can achieve success for institutions by
- Improve the assets NOI
- Providing timely inspections & reports
- Maintaining marketability