COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST)–New Western, a Dallas-based real estate firm that focuses on off-market properties, has opened its first Ohio office at 4449 Easton Way.
New Western has locations across the country from Texas to Massachusetts. The firm offers an exclusive platform and an extensive investment property inventory designed to help real estate investors acquire fixer-upper properties to flip and sell or flip and lease.
“It’s niche for sure,” said Myrna Gourgy, general manager of the Columbus market for the firm. “New Western helps real estate investors who are working to create passive or active income through real estate investing. We do not work with traditional homebuyers who are purchasing a home to live in. The investors we work with come from a broad range of backgrounds and have varying levels of experience. Some may be brand-new to real estate investing whereas others are experienced house flippers, landlords or both.”
Gourgy said New Western has also worked with hedge funds in other markets.
The firm said it was drawn to Columbus because of its fast growth and hot housing market. Currently, there are more than 481,000 aged properties in the Columbus area that could be ideal to flip, according to New Western. More than 30,000 of those properties are located in opportunity zones – parts of the city that are tax incentivized to develop.
“The reason we selected Columbus is because of the vast opportunity in the real estate market,” Kurt Carlton, the firm’s co-founder and president, said in a news release. “With the population continuing to increase rapidly, there are simply not enough homes available, which makes the number of aging homes within the Columbus market an exceptional opportunity for investors to revitalize.”
The company works with Sherman Bridge Lending for mortgages and with home buyer HomeGo. Together, the brands help homeowners move on from difficult properties while providing opportunities for local real estate investors to invest. Real estate investors can use New Western’s exclusive inventory of available properties that are ideal to either fix and flip or fix and lease.
“We use every tool at our disposal to find opportunities for our investors. We don’t discriminate where a deal comes from,” Gourgy said in an emailed statement. “We are also a resource to real estate agents in the community, helping them get tough listings in the hands of our pool of investors.”
New Western also uses proprietary technology to analyze data related to more than 110 million single-family homes across the country and identify potential opportunities. Through HomeGo the company reaches out to homeowners directly to bring off-market homes to the network of buyers.
“I am very excited to introduce New Western to this market and bring our years of experience as licensed agents and brokers to the local real estate investment community,” Gourgy said. “New Western is arriving at a critical time as the need for our marketplace and a sophisticated, one-stop-shop is paramount.”
The Columbus office officially opened on July 1.
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