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Our special series the business of real estate continues with a look of an Illinois company that -- an entire talent around.
Opera it was hit hard by the housing crisis -- Jeff Flock is in.
Confidence -- bill ever look no way it could've been going to the dogs we have had a right to the break but it's a great story Jeff.
Not bitten yet here.
The company's -- Engineering is a manufacturing company that makes switches for motor roll for John dear.
And the company said you know what we're getting all these foreclosures in our town.
Boarded up homes.
We wanna do something help so they started buying a home here or there.
Trying to help out just to help out one block at a time.
Jurors Trotsky how many homes if you bought today.
Did you ever have an idea you're gonna do this when you start you know it started out small we -- one or June maybe get the neighborhood up and go on but then it is snowballed and we -- all more and more -- foreclosures.
-- time so let's keep the ball -- will -- this town one house at a time Tom Rose or your boss the president of the company and Alfred got the aerial shot of the of the company -- just interesting to me this is bound by the -- 118 what -- we -- street real del real 118 Del Rio.
They just sold this house after completely gutting -- -- show yet.
The -- -- the the company looks like he employ about 500 people but it's not a real estate company.
You're manufacturing company we are we -- manufacture -- switches and grips and -- we communications.
Amazing and if you take a look at some of the before and after pictures.
There -- -- here and -- Rossi you're tasked with not only find the foreclosed homes.
But selling them and to the community and you've had tremendous.
Yes we -- especially the last fortified.
And the thing is you're not trying to make a profit on this I know it's nice to get a real estate commission but he you're actually just trying to do to help.
The folks that live here yes.
As far as auto -- concerned there -- breakeven.
Just -- -- breaking news yeah that that's amazing.
Take a look this brand new kitchen you got the stainless steel appliances.
You do these things first -- first very first first.
Last we we had extra insulation along along the walls.
All brand new roof so -- thing.
Hardwood floors ceramic tiles number in a -- doors driveways we do to landscaping we do at all.
250 plus units.
How much money to -- invested.
We have over ten million dollars invested in metal -- we have about another six million to one of the neighbors yes NN morning side which is a -- -- home.
Section over there we have about six million dollars.
And we also have four million dollars in seller finance investments -- -- city.
He will actually -- because people sometimes can't get a bank loan it got bad credit.
They will go ahead and seller finance -- they've got money put aside so they can do that which which definitely opens you up to more people.
Plus a 101000 dollars off to any.
Of military service so it's great story just great to tell a story it.
Really is remarkable how has grown so much.
Like guardian -- Sally really just talk a little -- thank you bring that to his left off the last.
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