The History of FreshStart Living
Prior to the recession there had been many urban regeneration companies which had formed with the MO of transforming underutilised but well located buildings into allegedly affordable accommodation. The issues that these companies faced were partly driven by the market and partly driven by a desire to over design, attempting to somewhat reinvent the wheel.
The market had forced prices so high the world had lost sight of simplistic financial equations which would have helped the world’s economies and those individuals who ultimately paid the price.
One such equation is the ‘three times their salary’ being the limitation of the price an individual should pay for their most costly asset, a home. If this formula was also applied to the price of properties purchased by the buy-to- let brigade it would have, location by location, maintained the cost of rent in keeping with the residents’ earnings, the knock on effects for the economy of this, are self-explanatory.
It could be argued that certain landlords would have attempted to increase rental, but if the formula had been applied in the right locations at the right volume it would have been almost impossible for these landlords to attempt to push the price of rental up as there wouldn’t have been the demand from the tenants.
FSL identified that the world was aligned in the favour of its business model. Like all fiscal models which do not have the foundations of a sensible financial formula they ultimately unravel (the bubble bursts), at which point a gap in the market is created and that is the gap through which FSL entered.
However, even if the norm is rotten to the core, it can still prove very difficult to persuade people that something new actually makes more sense, and over the first 24 months FSL experienced the backlash in spades.
As the new kid on the block it has taken a substantial amount of time, effort and tenacity to establish its place within the market and be accepted as an incredibly simplistic but intrinsically sophisticated alternative to the old school and now somewhat redundant property development companies.
But FSL succeeded and the End of Year Financial Report 2012 is testament to the fact that FSL are doing fantastically well and have helped create massive amounts of wealth for our clients.
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