Prosperity Flipper

What is a "Propper Home"?

 

Propper Homes are rehabbed row houses that include as many features as they can support with the market-rate rents that are charged.

 

In any urban neighborhood, market-rate rents rise or fall in proportion to the rents charged in the most luxurious neighborhoods.

 

Market-rate rents are about $500 per month for a single room in an illegal rooming house in communities like Strawberry Mansion.

 

That is enough building income to support a $135,000 building and still return a fair profit to the building owner.

 

Propper Homes will be built up to the level of comfort and safety that market-rates will support. That includes features like

 

Family-Style Floor Plans |  Upgraded Fixtures, Appliances and Surfaces
& An Option For One Of The Tenant To Own The Property After Five Years

 

Propper Homes will deliver to residents what they already pay for.
That's called "Fair Trade".
Liberty BellEvery Propper Home features "fair" rents, but each rehab gets there by a different path.

 

"Green Lyning" is the option-to-own feature that many Propper Homes offer. It requires taking many unusual, but financially sound, steps to reach the goals of first home buyers or landlords.

 

"Green Lyning" is a five year long process in which one tenant in a shared housing living arrangement is building, or rebuilding his or her credit, while simultaneously building equity in their future home. By the time the option is exercised, the buyer will have about 10% equity, more than enough for a new home down payment.

 

Whether they become a landlord, renting out room(s) in their home, or transform their purchase into a single family home is between them and their mortgage holder.

 

Are you a General Contractor
who would be interested in having Propper contracts referred to you?

 

 

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