San Antonio House Restoration – Doing It Again!

by | May 2, 2016 | Crowdfunding |

Working with our established partner, Pumpkin Holdings, SA Restoration buys older homes in San Antonio’s inner-city neighborhoods, repairs and upgrades them and sells the homes to new buyers. Our homes usually sell for less than $150,000, making them perfect starter homes for young couples, working families, and retirees on a budget. The homes we purchase and remodel have often been abandoned for a period of time, or operated by absentee landlords, and the refurbished, occupied homes help rebuild and strengthen neighborhoods.

SA Restoration is a small, local startup that does our work with relatively small sums of money, making it an ideal entry-level real-estate investment for new investors, and investors who like to see their money at work in their communities.

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SA Restoration used MassVenture capital to pay for the costs of repairing and upgrading a small 1920s era bungalow on Palmetto Street in the historic Denver Heights neighborhood.. This included major repairs like new roofing and wiring, insulation, and some plumbing, as well as cosmetic improvements such as new flooring, sheetrock, and interior and exterior paint. The house had been vacant for an undetermined amount of time when we acquired it.

420 Essex before ext front

SA Restoration provided a 12-percent return to its investors on the Palmetto home. Because we were working with a house already owned by our partner when we closed, we were able to return principal and interest unusually quickly. We do anticipate a longer timeframe on our second MassVenture home, because it is a more ambitious project and we are offering a 12-percent annualized return this round. The home on Essex was abandoned and Code Enforcement had flagged it for demolition. In addition to repairing the foundation, adding new electrical and plumbing, and an all-new interior, we are adding a bedroom and bath and interior laundry room to make a generous and comfortable 3-2, plus adding a back deck and other amenities to take advantage of the significant increase in sale prices in this area over the past two years.

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There is no ready market for the sale of the securities acquired from this offering and it may be difficult or impossible for an investor to sell or otherwise dispose of this investment. An investor may be required to hold and bear the financial risks of this investment indefinitely; The securities have not been registered under federal or state securities laws and, therefore, cannot be resold unless the securities are registered or qualify for an exemption from registration under federal and state law; In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved; and No federal or state securities commission or regulatory authority has confirmed the accuracy or determined the adequacy of the Disclosure Statement or any other information on this Internet website.

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