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Local investment group works to rehab houses formerly owned by 417 Rentals

(KSPR)
Published: Jul. 31, 2019 at 8:32 PM CDT
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There are new efforts to rehabilitate run down houses in Springfield that were once owned by 417 Rentals.

Local investment firm, Prosperiti Partners, LLC has spent millions to buy dozens of the properties Chris Gatley foreclosed on.

"I'm happy! I am absolutely excited to be living here under this management. I give them five stars. I give Chris Gatley negative one," said Alex Pfeifer.

He has lived in multiple properties owned by 417 Rentals.

"We got our very first sale notice from the attorney when I was diagnosed with cancer. That didn't happen. We go the next one right after surgery on Christmas. For the past year I've been worried about my health I was worried about whether or not I'm going to have a place to safely stay while I recover," he explained.

Prosperiti Partners LLC is working to make sure he has a safe and secure home.

The group paid nearly $5 million dollars for 144 properties with plans for major renovations.

"We knew that we had an extremely large job ahead of us. The houses were not safe and secure for people to live in. I think, for the most part, gotten those taken care of. We have people in better situations than how we found them," said Prosperiti Properties Vice President, Jaime Thomas.

Pfeifer said, "In the first week of this new landlord I had all new plumbing installed into the house."

Investor and Prosperiti Partners LLC President, Titus Williams, is leading the rejuvenation efforts.

"I believe a lot of our tenants are good people and they need help. It takes a lot of willingness to take some bad situations and hopefully do some good things," he said.

Pfeifer explained, "We are still paying the exact same rent as we did with Chris Gatley. I'm getting my money's worth. I'm getting all new renovations. I'm excited."

"It is risky. If you just look at it from the point of what's best for my pocket book, there's other investments that are easier," said Williams.

Thomas explained, "To a lot of them it's still too good to be true that we really do want to help."

"I feel like I finally have a place that I can call home," said Pfeifer.

Prosperiti Properties LLC is working with local non-profits to find low income housing needed to relocate tenants while renovations are done.

The first set of nearly 15 homes will be done next month.

The investment group plans to buy more properties and continue to help rebuild rundown parts of the community.

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