Most companies like ours won't tell you how they make money. We think you should know before you ever pick up the phone.
Fennwood Properties is Joe and Anthony. Joe has spent his career in finance and handles the numbers on every deal. Anthony is a career firefighter and handles the properties themselves. Before this, we started a local cleaning and restoration company, grew it, and sold it.
We started Fennwood because we kept running into the same two people. The first owns a property they don't want anymore: a parent's house they inherited, a rental that's become a headache, land that just generates tax bills. The second is looking for exactly that kind of property and can't find it, because it never gets listed. We connect them.
We're not a national franchise and we're not a call center. When you call, you get Joe or Anthony. That's the whole company, and we like it that way.
We buy properties for less than they'd be worth fixed up. That's the trade, and we're upfront about it: you give up some price, and in return you get a fast sale with no fees, no repairs, and no uncertainty. Once we own a property (or have it under contract), one of three things happens:
We pay for the repairs, take the risk, and sell the finished house.
Some properties we hold as rentals and fix up over time.
Sometimes another investor or builder is a better fit for the project, and we sell or assign our contract to them for a fee. Your price doesn't change, and our agreement says this in plain language.
One more thing. If listing with an agent would clearly put more money in your pocket and you have the time for it, we'll tell you that. It costs us a deal once in a while. It's still the right way to do business.
Every closing goes through a licensed New York real estate attorney or title company. Money moves through escrow, never directly between us.
Our offers come in writing with the math behind them. Show the paperwork to your own attorney, accountant, or family before you sign anything. We'd rather you did.
No countdown clocks, no "this offer expires tonight." Take the time you need to decide.
Our purchase agreement is short and readable. If we might assign the contract to another buyer, it says so right up front.