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» VISIT US ONLINE @ DSNEWS.COM 51 ew would argue that one of the most important pieces to solving the housing market recovery puzzle is finding a solution to community blight. Whether it is through real estate investors or field services companies, the old adage "there are no two ways to skin a cat" rings true, as the missions of both facets are critically important to market health. at is why this month, one investor and one field services professional weigh in on why creating a responsive and reciprocal relationship of respect is imperative. ACCORDING TO CAROL GUY As a real estate investor who purchases distressed assets, I find it interesting that we are labeled as "those who hurt the market" instead of "helping those in need." Market conditions are continually changing throughout our country, in the good areas and in the less desired, but there remains one important factor that has never changed in the hearts of the American people, and that is the dream of owning a home. is is where investors step in; we partner with the banks to make a deal that they can live with and market the assets, using our network of contacts, to find a homeowner. As investors, we have no control over the inventory that a lender may have, what they decide to sell off, or the price of the assets, but we do know that investors are lining up to take advantage of these assets at a discounted price. Why? Lenders are spending too much money keeping these assets alive in their inventory by paying taxes, paying realtor fees, upkeep and maintenance, and litigation. We are talking about distressed assets that the bank will not put any more money into to fix up. We are talking about assets that may be falling down and need to be demolished. Real estate investors are a lifeline for the banks who will take the asset and run with it, rehab it, sell it and/or rent it. Many homes that I have seen offered from lenders have not been trashed out, taxes have not been paid, and the home is in need of repair—maybe as little as $10,000 or as much as $50,000 to be made tenantable—with violations that need to be addressed. So is it feasible for a lender to hold these assets and lose money? e answer is no. ere are local investors who are looking for these deals to take advantage of because they have the cash to do it. It could take two to four months to take a property and perform rehab, but I will say that we have received phone calls from prospective buyers wanting to purchase a property before rehab. Perhaps it was a property that belonged to a family member or a property they lost to foreclosure because they had experienced financial difficulties. Real estate investors welcome these people, as lenders have strict policies on making loans that these individuals cannot meet. ere is more flexibility with the investor-owned asset, thus allowing homeownership to be made possible through real estate investors. e point is to revitalize communities, discourage crime, and make a difference in these neighborhoods, which is the common goal for everyone in the industry. We have found that having a personalized relationship is advantageous for both the lender and Blue Spruce, as it creates trust and honesty in our transactions and in moving forward with future purchasing opportunities. I believe that we will be a continued presence in the months to come as lenders release their shadow inventory to the investor community. ACCORDING TO BRYAN LYSIKOWSKI Field services is about more than just rebuilding homes—it's about bringing life back to a community that is in desperate need of a helping hand. Distressed property is not a new phenomenon to hit the U.S., and there are many reasons why areas of a town become overrun with abandoned properties that are in dire need of attention. Whether it's Rust Belt communities that have experienced an outflow of population or Sun Belt communities that have been victimized by the housing bubble, distressed and abandoned properties can spring up in cities in all corners of the country. Cleveland, Ohio, is a city that ZVN has worked in extensively and helped bring back to life. Several communities in Texas, Arizona, and Nevada have also been among those in need of assistance in recent years. As a field services company, ZVN prides itself on raising morale and returning a sense of pride that may have been lost due to months, if not years, of neglect. Field services is in many ways a lifeline for neighborhoods that are nearly out of breath. But with focused attention from field services companies like ZVN, areas that have been hit hard have a second chance to return to the prosperity they once knew—and once again be a place where people want to live and do business. e exact impact of field services can thus be difficult to quantify, as the benefits of bringing life back to a community can be enjoyed for decades. Neighboring towns and cities can also benefit from a revitalized community, and even those who reside far away can take pride in knowing their country is being returned to its rightful state. Field services is also a great service to banks that may be invested in areas of great blight. Unwilling, and perhaps unable, to pour money into a property that is just sitting idle, banks can benefit from the services provided by a company like ZVN. rough their renovations, ZVN can help banks sell properties they own that had previously been more of a liability than an asset. While private investors do similar work to ZVN, they're usually not able to conduct business on the same scale as a company that specializes in the process of salvaging properties. Field services companies can renovate a home much quicker than an average investor, and in doing so they help create jobs for the construction industry along the way. rough their strong foundation of leadership, experience, and expertise, field services companies can ensure that their renovation projects meet the necessary guidelines and are delivered with integrity and superior execution. From community revitalization, to creating new business, and even to job creation, field services is a field that aids millions of Americans and whose benefits are boundless. NDUSTRY INSIGHT POINT- COUNTE RPOINT

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