Exceleras, a provider of Web-based automated tools to manage and value real estate owned properties, has announced that DispoSolutions is now a core element of a new services and technology offering for nonprofit community organizations through a partnership with M2 Asset Services LLC.
According to Exceleras, the result is a complete default and asset management solution that will allow nonprofits to manage real estate, giving them the power to acquire, rehabilitate and sell real estate to rebuild their communities.
“For the first time, community-based organizations will have the power and the connections required to heal neighborhoods. If used correctly, the new platform could even make these organizations self-sufficient – but that’s just the beginning,” says Exceleras President and CEO Michael Harris.
“From our perspective, this is a great opportunity for individual real estate investors to participate in the rebuilding of our communities and earn a good return while doing it,” says Donald Maxwell, managing partner at M2 and former director of Fannie Mae’s National Property Disposition Center.
“This new approach accomplishes two things,” he adds. “First, it allows nonprofits to make more money with their services by having scale and access to the funding required to acquire these properties from sellers, like so many cities that currently own them. Secondly, it puts more people who deserve to be homeowners into homes of their own.”
Maxwell says that giving nonprofits control of the assets and then equipping them with a national network for the financing, preservation, rehabilitation and marketing of those assets is a win for all stakeholders.
M2 is currently operating pilots with its new platform in Michigan, Texas and Georgia. Maxwell says the system is working, and the new model may soon be expanded to other communities across the country.