TruHome FOR SALE: 1627 East Indiana Street, Evansville, Indiana
Renovation in Progress-House will be ready April 5th (2 Beds/1 Bath). Great starter home that only needs for you to move in. First-time homebuyers we want to talk to you! Financing available through Old National/ Land Home Financial. Down Payment Assistance is Available! This home includes:
-New Roof
-New HVAC 95% efficient unit with a 2 Ton AC Unit
-The entire home was re-wired with new electrical and a new Breaker Box
-All new Double Pane Low E
-6-foot privacy pressure treated wooden fence in backyard with a Fire Pit
-Gravel driveway
-New downspouts and soffit
-EcoBee Thermostat
-Ring Doorbell
-Ring Security System
-1 Year Home warranty
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Who We Are:
TruVest collaborates with local communities, homeowners, and cities to develop affordable housing. Investing in communities to drive economic growth, create quality housing and financing options to improve neighborhoods and families quality of life. We strive to make a meaningful impact in every aspect of our collaborations and companies culture and core values
Contact Us: Phone:(833) 878-8378
E-Mail:info@truvest.co
Affordable Housing Project Aims to Revitalize Jacobsville Neighborhood on 44 News
Our affordable housing collaboration officially launched in Evansville, Indiana with Mayor Lloyd Winnecke and Evansville Promise Zone. We are thrilled to have such amazing coverage by 44News on how we are making an impact on families quality of life by owning a TruHome.
The Promise Zone and a company called TruVest are partnering to not only create affordable housing in Evansville but also create homeownership opportunities for the people living there.
Instead of knocking down homes, and building new ones, TruVest is renovating blighted homes in the Jacobsville neighborhood. At the same time, those who need affordable housing will have the opportunity to actually own homes instead of renting them.
This partnership will help provide first-time homeowners with the tools they need to keep their credit up, continue to pay mortgage payments and all the other things that go into owning a home.
TruVest co-founder Peter Bordes says, “We’re going to find a balance between what we renovate, and then what we do helping the land bank taking those empty lots, and then developing new homes on them, but always with the idea that we’re not looking to gentrify neighborhoods, and we’re not looking to make the prices go up. We want to be able to keep them in line with the integrity of the neighborhoods.”
Mackenzee Pagett and her two children will be moving into this first house within the next few weeks. She tells 44News Evansville she’s very excited being a first-time homeowner.
Evansville Promise Zone Partnership Announcement
If you are available please join us on Monday, February 11th at 1:30 pm CST to announce our new affordable housing partnership. The Promise Zone has formed a partnership with TruVest to rehab 25 homes in the Promise Zone in 2019. They are working with local realtors, the Evansville Land Bank and the Promise Zone to locate houses suitable for rehab. People with credit scores of 600 or more will be eligible for mortgages through Old National Bank (other qualifications may apply). If a person does not qualify for a conventional mortgage, TruVest will provide financing based on each individual situation. The press announcement will be at 723 East Oregon Street. Hope to see you there…
What the Heck is Mortgage “Note” Investing? The Start of a Journey
Have you ever heard of people talking about note investing? Probably not! It is not a topic that you are discussing over coffee or at a social event. Would you be surprised to know that note investing has been around since the 1950’s. When I first heard about note investing 4 years ago I had no clue what it was and I was skeptical just like you are. Since note investing is not part of the mainstream investing conversation, people do not believe or understand how they can invest in notes passively. What is a note? Instead of giving you some crazy definition from Investopedia I wanted to share my definition with you: Notes are financial instruments that are used to secure loans against real property. These instruments can be used on just about any type of real estate. Additionally, notes play a critical role in the housing market in the form of land contracts, owner financing, trust deeds. These forms of mortgages “notes”, are utilized for homeowners that do not qualify for financing from traditional brick and mortar banks.
Now we got the boring stuff out of the way let’s start talking turkey! We all remember the last recession and how bad the housing market was hit. Housing prices in some markets dropped 30% in value, and foreclosure rates were in the double-digits. The American Economy was a disaster and there was no relief in sight. Just like you, I do not want to go through another time like that again without being prepared. This is where note investing comes into play for all of us. In 2016, banks/lenders sold $116B worth of non-performing notes (1st trust of deeds on Single Family Residences). This number does not include purchases by hedge funds like Black Stone, Fortress, and GCM Grosvenor to name a few. These hedge funds are buying directly from Freddie and Fannie, and are paying between 20%-40% of the Current Market Value of each property. When I first learned about all this I could not believe it! I did my homework on the offerings, and I wanted to find out how I could buy directly from banks/lenders. This is where I will leave you on this posting and on my next posting we will talk more about the journey and how banks/lenders operate in this space. Let’s work together to bring Wall Street to Main Street!