The mandate of Amelot Properties is to acquire undervalued real estate in strategic locations and to complete eco-friendly market renovations that significantly increase the resale value of the properties. These newly upgraded residences are planned to be environmentally responsible and resource-efficient and therefore very attractive for buyers.
Fred Guarnieri was appointed President and Chief Executive Officer of Amelot Holdings, Inc. in June 2009. Mr. Guarnieri brings a wealth of executive experience, vision and relationships to Amelot Holdings and a dynamic and focused leadership style.His experience includes the management of a large real estate agency where he handled hundreds of transactions, ranging from single family homes to apartment buildings and commercial properties. He also has expertise in customs brokerage and shipping, finance and International business.Mr. Guarnieri is 62, and has lived in the Norfolk, Va. area since the mid 1960's,
In mid 2010, it was decided that Amelot Holdings, Inc take advantage of the depressed real estate market nationwide. After months of research, including but not limited to the study of demographics in several areas of the United States along with extensive comparative market analysis, it was determined that we move forward with our plan, and in December 2010 formed a subsidiary, Amelot Properties, LLC.
We then narrowed down our search to those zip codes having experienced the greatest decline in property values and having the largest inventories of properties sitting vacant for extended periods of time, thus having lenders more willing to negotiate quick cash settlements.After visiting several locations, a final decision was made, a realtor was chosen to assist on the purchasing side only, an experienced crew assembled, some of their most recent work viewed, and three properties purchased immediately.The supervisor in the beginning start up phase is capable of managing two crews, each crew being able to renovate three properties per month. He will inspect all properties before purchase and submit budgets to me for approval on each. He will purchase materials for each site, and deliver them on site as needed In addition he will market the properties, and follow the sales through settlement, saving thousands of dollars in commissions.Within the next two months, we hope to have in place a second crew. We have interviewed someone that is eager to join us, and has worked with our supervisor before.It is my understanding he has the same capabilities, and he too could handle two crews down the road.Right now, our focus is on building our inventory to ensure our current crew does not sit idle, and before hiring our next one.By buying properties at pennies on the dollar, discounted materials (closeouts, bulk purchases etc), and in- house marketing, we can offer properties for sale way under current market price, and in most cases the mortgages will be considerably less than comparable rents.
2612 Granby StreetNorfolk, Virginia 23517tel: (646)926-3568
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