MACK Companies Surpasses 100 Single-Family Home Investment Sales in Past Fiscal Year
CHICAGO, June 21, 2012 /PRNewswire/ -- MACK Companies, the largest owner of single-family investment properties in the Midwest, has announced it completed 102 investment sales between June 1, 2011 and May 31, 2012, the company's fiscal year. This was an increase of 540 percent over the previous year. James McClelland, president and CEO of MACK Companies, and Eric Workman, vice president of sales and marketing for the Tinley Park, Ill.-based firm, made the announcement.
"For more than 15 years, we've been buying foreclosed single-family homes and turning them into rentals because we knew this was one of the best ways to enhance an investment portfolio," said McClelland. "But it's really only in the past year that investors have paid attention to this asset class as they see the news headlines reporting how many foreclosures are on the market."
According to housing data firm CoreLogic, the rise in foreclosures over the past five years has turned more than 3 million homeowners into potential renters, which means the single-family rental sector has the potential to be a $3 trillion market.
Prior to June 1, 2011, 95 percent of MACK Companies' investors were from the Chicago area. Today, out-of-towners purchase 80-85 percent of the firm's investment properties, while Chicago-area investors account for approximately 15 percent of its sales. International investors also find MACK's successful business model hard to resist, as they purchased almost 22 percent of its investment properties in the past fiscal year.
"One of the reasons why investors like MACK is because we serve as the property manager for their investment," said McClelland. "To be a successful real estate investor, property management has to be a priority. Brick and mortar has never made a mistake. Any piece of real estate has to be managed and maintained in order for it to perform. Without great property management you won't have great tenants. And great tenants are the key to a successful real estate investment."
Through MACK's AAA+ Investment Properties program, investors can buy a tenant-occupied, single-family rental home and receive the financial benefits of being an owner without the responsibilities of being a landlord. MACK oversees all maintenance needs for its investors' properties, hand-collects rent and guarantees its investors a positive monthly cash flow for the first two years after an investment purchase.
"Most investors want to enjoy the returns real estate offers, but don't have the expertise to ensure they are successful," said Workman. "Our turnkey investment program makes owning a rental property as easy checking your online statements and direct deposits from MACK."
MACK Companies offers a variety of investment properties, such as this home in Country Club Hills, Ill., which is listed for $135,500. Real estate investors can expect $1,600 in rent per month.
About MACK Companies
MACK Companies currently manages approximately 600 single-family rentals. For more information on MACK Companies and its investment program, visit http://www.MACKcompanies.us.
MEDIA CONTACT: Kim Manning, firstname.lastname@example.org, 312-267-4527
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
SOURCE MACK CompaniesBack to top