Local Entrepreneurs Making a Meaningful Neighborhood Impact In Today's Real Estate Market

FOR IMMEDIATE RELEASE

Contact:
Julie Olson
Broker/Owner
EXIT Lakes Realty
952-697-5888
jolson@exitrealtymn.com

Local Entrepreneurs Making a Meaningful Neighborhood Impact In Today's Real Estate Market

Minnetonka, Minnesota (Grassroots Newswire) February 9, 2010 -- Marpe Holdings, LLC founders Peter Harrington, a Minneapolis Developer licensed with EXIT Lakes Realty and Mark Pasvogel a young contractor are building long term neighborhoods.

Unlike many investors cashing in on distressed properties, they purchase properties to professionally manage them long term with no intention of selling the properties.

What sets Marpe Holdings; LLC apart is a simple solution for affordable housing and developing true neighborhoods.

Peter & Mark contact Realtors and Banks to find foreclosed and distressed properties.

Selecting properties with solid foundations suitable for renovation

• They bring the Façade of the building to its original architecture (including opening the formerly enclosed porches to the tradition friendly front porch.
• They remove all chain link fences
• Installation of lawn irrigation systems, professionally landscaping and ongoing maintenance the lawn and sidewalks – a task usually left to a tenant.

“We know the condition of every property, Mr. Harrington states, because of the crews weekly maintenance. We also have strict rental regulations, after initial screening, and the tenants are provided with the Pride of Ownership Marpe Handbook.”

Rental rates remain in line with Section 8 requirements, even though currently less than 20% of our tenants participate in that program.

Marpe has pledged not to go above that rental maximum amount

All tenants sign a 12 month lease and are instructed that if the rent is paid by the 5^th of every month the rent will be frozen for 3 years as a bonus for being a responsible tenant

Their mission is to bring community and pride back to the neighborhood.

Philanthropists love this concept, for 2 reasons, there is no federal financing for this type of construction and each house puts 30 local construction people to work.

“When completed to our standards a brass Marpe plaque is proudly displayed in a prominent location on the exterior of the building.” Marpe has completed 14 properties since fall of 2008.

For more information about EXIT Lakes Realty, please call 952-697-5888. EXIT Lakes Realty is located at 10201 Wayzata Blvd # 100, Minnetonka, MN 55305.

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