Altisource Portfolio Solutions has raised the curtain on Residential Investor One, a new cooperative aimed at providing savings and services for real estate investors.
The firm said the new cooperative plans to attract a range of members, including individual residential real estate “fix and flippers” and institutional investors with large home portfolios, according to an April 13 news release. The cooperative presents members with the opportunity to receive assistant as they navigate purchasing, renovating, managing and selling their investment properties, Altisource said.
“The residential rental and resale investment market historically has been fragmented, lacking the buying power to reduce the costs for the products and services needed to buy, manage, improve and sell properties,” said David Wisen, Altisource’s senior vice president of cooperatives and origination services, in the release.
“Members will benefit from working with our preferred vendors including Altisource with its end-to-end real estate and renovation services.”
In addition to discounted products and services, members of the new cooperative will also have access to capital for renovation and portfolio expansion and outsourced property management services. The cooperative will also serve as a platform to build relationships and share knowledge with other industry participants.
Residential Investor One also represents an opportunity for Altisource to utilize its experience with its other subsidiary mortgage banking cooperatives, Lenders One and Wholesale One, Wisen added.
Luxembourg-based Altisource was spun off of Ocwen Financial Corp. in 2009. Ocwen, which still represents a major source of Altisource’s revenue, reported Tuesday significant preliminary losses for fiscal year 2014.