Prestigious Housing is a residential real estate investment trust that develops and owns homes in the form of apartment complexes, town homes, condominiums, row houses, and luxury residential communities. Most of the Prestigious Housing developments are located in prime locations throughout the United States. In addition, the majority of Prestigious housing homes are built with ultra-modern interior finishes, impeccable architectural styling, and luxurious amenities. The company was started in 1997 by millionaire real estate developers, Richard Legg and Peter Manduca.
What exactly does this giant property holding company do? The firm buys up foreclosed properties from banks and other lenders. Once these properties are purchased, they put them up for sale in the public marketplace. Prospective buyers purchase these properties through Prestigious Housing. They can then lease the units to residents.
How do you get involved with Prestigious Housing? The company provides complete assistance to the buyer of the property. These include helping the buyer to find his or her dream home and helping to negotiate the purchase agreement. In addition, the residential management team handles all aspects of the closing proceedings, such as staging the property and conducting background checks. They even provide homeowners’ legal assistance, including help locating their home loan.
Who should consider investing in Prestigious Housing? Legg and Manduca have spent the last three decades building up Prestigious Housing into one of the largest real estate investment companies in the world. Moreover, the two men are extremely familiar with the real estate market, having sold and bought multiple residential properties in the past.
Where can you invest? Prestigious Housing has one of the most successful reputations among residential real estate firms. Many prominent economists and commentators predict a prestigious housing will continue to expand into new markets. The company has also developed several niche communities. For example, the community of Crestpark in Dunwoody, Florida is a perfect fit for those who like the historic appeal of older residential communities.
What types of properties are available? Prestigious housing has a wide range of offerings, from luxury high-end communities to master planned developments. Many of Prestigious housing’s offerings feature award winning architecture and amenities. In addition, the company is well known for developing and preserving historic neighborhoods.
Will investing in Prestigious Housing present a challenge? Although most of Prestigious Housing’s communities feature award winning architecture, the company is well known for developing communities that preserve the historic character of the community. Additionally, many Prestigious housing communities are located in desirable locations. This ensures that prospective buyers can find a home in an area that meets their criteria.
What is the opportunity cost? The opportunity cost for an investment in residential real estate is the difference between what a buyer could pay in order to rent an apartment or buy a house. Prestigious Housing has developed communities that fit almost any budget and offer great value. It is also important to remember that unlike commercial investments, residential real estate does not need to be repaired every few years. With a prestigious housing, potential buyers can expect to live in a community for the long term.
What about investment credits? Many people view residential investment as an opportunity without investment credits. However, these credits can be a great help in assisting with down payments. In addition, they may provide a tax write-off in some cases. Some communities offer cash incentives as well. It is a good idea to research these options before making an investment.
How are the rates of return? Some residential communities offer extremely competitive rates of return. Others are more moderate when it comes to investment returns. The best way to determine how Prestige housing will fit into your investment portfolio is to research the various programs offered. No two investments are exactly alike, so it is important to get as much information as possible.
Is there enough room to build on the property? With today’s economy it is very common for developers to want to take as many units as possible. Many Prestige housing communities offer investment programs that allow you to purchase a certain number of units and then build upon them.
How are the maintenance and upkeep costs compared to other types of housing? Even though many community developers offer excellent investment programs, there are still maintenance costs associated with the property. Not all investors will be able to afford high maintenance costs but those who can should certainly look into the different communities. They may find that they have enough money saved up to be able to make large repairs and renovations on the properties. Investing in such communities that have excellent investment opportunities and excellent upkeep is the best way to make sure your investment pays off.