World wide estate investment Group
Russell Tidaback and Jordan (Daughter) Tidaback
Photo taken 30 October 2015
Russell Tidaback is the president and founder of the Real Estate investment firm TIDABACK LLC. TIDABACK LLC is the parent company of World Wide Estate Investment Group (WWEIG) based out of Labelle, FL. WWEIG has several active projects that are in various stages of completion. The business environment surrounding real estate investment properties has been in a state of flux over the past several years. WWEIG has developed a system for profitable real estate investment.
In the past, the basic model for real estate investment has been a three-step process. First, a property is purchased at a favorable price. In real estate investing, profit potential is determined at the time of purchase rather than at the time of sale. Step two involves making cost effective modifications and improvements to the property. Step three involves re-selling the property to a new owner and cashing out of the deal.
Until recently, an investor could move through the three steps quickly and have a limited time when their investment is exposed to risk. However, recent changes in the real estate and mortgage markets have limited the liquidity of these investments. This has resulted in some investors becoming “stuck” in properties that are difficult to sell.
WWEIG believes that real estate investments are a long-term profit driven enterprise. WWEIG has developed a proprietary business model that successfully deals with the current realities of the real estate markets worldwide. The first step of WWEIG’s enhanced process is the use of a Decision Comp Basis (DCB) that significantly improves the property selection process. The real estate investment market is currently a Seller’s market. The DCB enables the examination of a greater number of potential property acquisitions and facilitates the comparison of each property’s profit potential as measured against a set of common standards.
The second step in the WWEIG model involves communicating the profit potential of the investment property to a limited group of private lenders. These private lenders have already shared with WWEIG the parameters under which they each would find a particular investment property attractive. WWEIG has already familiarized each private lender with the nature of the proprietary DCB selection process. Thus, a property that has been selected by the DCB system can be screened by each of the private lenders, and then acquired.
The third step, if needed in the WWEIG process involves using WWEIG’s experienced network of construction experts to quickly and economically make needed improvements to the investment property.
The final step in the WWEIG system or aka exit strategy uses a secure, closed database of investors who have a “buy and hold” strategy for real estate investing. Thus, the investment property is sold to a new owner whose business interests involved owning investment properties.
Because the WWEIG system is a total “front to back” approach, the return on the private lender’s capital is realized quickly. The WWEIG System is poised to open a substantial number of real estate investment opportunities over the next several years regardless of current market cycle.
Decision Comp Basis (DCB)
WWEIG’s proprietary Decision Comp Basis is a unique system that substantially improves the selection process for new investment properties. The tool considers the following inputs to its decision algorithm:
• The type of property, Single Family Rental, Duplex, 8-plex, Apartments
• Property location
• Neighboring properties
• Terms of current financing on the property
• Condition of the property, Yr built, last rehab start/end date
• Cost of property improvements, CAPEX spent
• Property holding costs, such as utilities
• Property holdings costs in the area of property financing
• Economic trends in the communities surrounding the properties
• Community resources such as schools etc.
• Community crime statistics
• Community demographics
• Analysis of recent sales of similar properties in the Community
The DCB analyzes and updates all of these factors for a number of properties. Periodically, the system detects conditions that make a particular property attractive according the analysis parameters WWEIG controls. The DCB outputs the following information for properties that come to the top of the list that has been the input for DCB analysis:
• A summary of the due diligence that has been accumulated
• A suggested acquisition price for the property (MAO - Maximum Allowable Offer)
• A schedule for the injection of capital into the remodeling of the property, if needed
• A suggested exit strategy for the property and return of the private lender’s capital
WWEIG is actively expanding the list of private lenders who have been briefed on the DCB system. WWEIG is building a relationship with these private lenders, which could lead to repetitive opportunities for the lenders to take a small amount of capital, invest it in the WWEIG system and realize a return of the invested capital. The original capital can then be re-invested again in another property. This type of investment opportunity benefits from the concept known as the “swiftness” of money. The return on investment is limited only by the velocity with which the properties are acquired.
Skilled Construction Experts
WWEIG works with a network of skilled construction/rehab specialists. These individuals have a proven track record of being able to implement changes in a property that can be done quickly in a cost effective manner.
Proprietary Buyer Database
WWEIG has accumulated a proprietary database of individuals who are interested in acquiring rental property under favorable terms. The demand for rental properties is growing daily. The individuals contained in this database include some of the following types of people:
• Small business owners
• Certified Public Accountants
• Corporate executives
• Commissioned sales people
• Individuals with self-directed IRAs, or sizeable equity in real estate
• Property management firms
• Individuals looking for a second income
WWEIG maintains information regarding the types of properties that these individuals are seeking. This is an important part of the overall process WWEIG has designed to ensure their rapid optimization of the private lender’s return on capital that has been placed with WWEIG.