Cory Harrington's Colleagues at House Buyers Direct
Cory Harrington's Contact Details
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San Antonio, Texas, United States
House Buyers Direct
Cory Harrington's Company Details
House Buyers Direct is a residential real estate acquisitions, development, brokerage, and property management company. We acquire distressed properties, reposition and sell these properties to our investment clients, redevelop and/or consult the improvements, sell and/or actively manage our clients real estate holdings.Acquisition Strategy: HBD actively solicits off market distressed real properties. In most cases we seek distressed opportunities where sellers do not possess the funding needed or skills required to improve the physical condition and property management.In this approach, we are uniquely positioned to find opportunities that do not otherwise exist in the public marketplace thereby giving us a distinct advantage of being the first, and in many cases, the only buyer in the market.Sales Strategy: In many cases we purchase and quickly reposition properties for sale to the investment community in the capacity of a wholesale dealer. Unique to HBD, we "stay in the deal" by offering products and services including construction, financing, property management, and sale. This allows us to lower our product and services cost charged to the client, while allowing us integration and scale that yields a higher gross profit to our company. Operating Expenses: HBD self funds operational expenses to include administration, marketing, purchase, carry costs, salaries, technology, legal, and other expenses. Acquisition and Development Expenses: Most redevelopment projects are self funded and do not have partnerships. In these cases we operate as a Family Office. However, since 2006 the Principals have managed multiple partnerships. In these cases, we typically place asset based debt, and partnership equity stack to fund and carry the expense of the project from purchase, construction, marketing, management and sales. Most of our partnerships have resulted in additional partnerships with the same principal investors.