The cooperative lets fix-and-flip investors to institutional investors access discounts on products and services needed to purchase, renovate, manage and sell residential investment properties, according to Altisource.
“The residential rental and resale investment market historically has been fragmented, lacking the buying power to reduce the costs for the products and services needed to buy, manage, improve and sell properties,” David Wisen, senior vice president cooperatives and origination services for Altisource. “We have applied the expertise in obtaining best in class services that we developed with our mortgage banking cooperatives, Lenders One and Wholesale One, and applied that to the residential home investor market.”
Members of Residential Investor One will have access to a broad range of services including:
- Access to capital to help investors renovate properties and expand portfolios
- Discounted rehabilitation, maintenance and ancillary products and services (e.g., flooring, paint, appliances, office supplies, technology, shipping)
- Outsourced property management services
- Reduced transaction costs to buy and resell homes
- A community peer group to build relationships and share best practices
“Residential Investor One is providing investors the bargaining power and access to resources that were not previously available on a single platform,” Tom O’Sullivan, Chief Executive Officer of Residential Investor One, said. “Together, this community can share best practices and optimize their investments. We look forward to helping our members grow their portfolios and increase their profits.”
Altisource Portfolio Solutions, the owner of online real estate auction platform Hubzu and for-sale-by-owner search site Owners.com, has launched Residential Investor One, a new cooperative designed to deliver “savings and efficiencies” to a range of real estate investors.