HOUSING FOR IMMIGRANTS

 

 

We are the Pioneers on this field; since 2002 and after 10 years of working with immigrant communities we decided to put together a group of people from different backgrounds and disciplines, in order to develop a functional business model which would pursue several objectives as comprehensively described below.

 

Objectives

1
Financial regularization: the intention was to construct an instrument that will allow and encourage immigrants to use the Financial System to send their remittances back home.
2
The first and foremost obstacle for immigrants to be creditworthy was their lack of interest and incentive to Save money "without a tangible purpose". Creating and maintaining the culture of Savings was a quintessential condition for the model to work.
3
Making the Banks, Governments, Home Developers, Realtors and many others understand the potential of their expatriates in terms of power purchasing but mostly in terms of their "sine qua non" reasons to be immigrants in the first place: being able to climb the social ladder. And what best to serve that purpose than the accumulation of patrimony, "vis-a-vis", buying a property (house, apartment, land...).

 

All the roads took us to Rome .. finally and after a big struggle, a pilot program was put in place in the Fall of 2004: BIG Success! We proved many things which brought down a number of myths, legends and prejudices:

 

1
Immigrants have a good purchasing power even though they mostly are not used to have Savings.
2
Immigrants do not prefer to buy low cost housing, instead they go for something in the middle of the spectrum.
3
They buy houses and / or properties for Three main reasons: Family left behind housing, Retirement and Investment.

 

These were the numbers:

 

Twenty four (24) companies between Realtors, Home Developers and Banks attended a promotional event held at The Metropolitan Pavilion in Manhattan.
Aroun Two Thousand families registered ahead of tim eto attend; they provided biographical information, Housing preferences, Income details and Contact information of their families in their home country.
One thousand nine hundred and twenty three (1.923) heads of family showed up.
Seven hundred and fifty three properties were effectively sold during the event, that is 35% conversion.

 

How? Well, common sense. We know the souls and minds of immigrants, We knew then and of course know now what drives them, their motivations to have left everything behind to become strangers in a foreign country.. We speak the language of their souls no matter what language they speak. We have worked with 9 different countries from Latin America and Asia.

 

So, if your purpose is to sell housing to Immigrants in the North East of the United States, are serious about it, meaning understanding the costs associated to it and need people that can guarantee you results, go ahead, give us a call!