Consulting Service (REO) Heating Up

For Immediate Release
May 20, 2013
Johnson City, Tennessee

T. C. Lewis & Co. is proud to announce that it has been retained by two mid-size banks over the last two weeks to consult on bank-owned real estate (REO) properties covering: West Virginia, Virginia, Tennessee, North Carolina, Georgia, etc. Total estimated value of the combined portfolios are near $52MIL. "It's a great service that we can provide to small and medium-sized banks that don't want to try and develop their own REO department. And some large banks with a special assets division have had an excessive amount of properties and need help," says Cory Lewis (President/CEO). "Nobody wants to feel sorry for banks, and I don't think that these clients want anybody to feel sorry for them. But the fact remains that these banks are sitting on real estate that they now own. There are assets that are sitting right now that need to be put back into the market in a responsible way, and we hope that we can do our part in making that happen," says Lewis.

T. C. Lewis & Co. harnesses the power and knowledge of the divisions of the company to provide an REO Consulting service to financial institutions. Lewis explains, "Banks turn over the problems of a client with a non-performing loan before it goes into foreclosure, and we can work to prevent it. Or, they (banks) can provide us with properties that have gone into foreclosure, and we simply take over." The company uses its unique ability to analyze each property independently for value and strategy to sell, including: To show in-place value for investment properties and help cover expenses for a property by renting/leasing; to package and sell properties to investors; to market the properties in the right outlets to get them sold; to suggest and make repairs as necessary; complete projects as needed; manage leased properties to maximize potential and make as attractive as possible to potential buyers; etc.

This type of consulting service is becoming one of the premier services offered by T. C. Lewis & Co, along with investment management for domestic and international real estate investors looking for opportunities to make short and long-term money in the US real estate market.