The Intercoastal Investment Trust was founded as a Baltimore based corporation in October of 1992. Its principal, Philip Howard Collector, had been a real estate broker in the very active California market from 1976-1982 and returned to his hometown of Baltimore to begin buying and selling real estate. The relationship of real estate broker that Mr. Collector experienced in California was not one he favored and preferred to operate as an investor, purchasing and selling properties rather than as an agent or broker representing others. For a number of years Phil owned and operated well over 117 rental units until 1991 when The Intercoastal Investment Trust was formed and Phil divested himself of his rental property to specialize in buying, renovating and selling houses.

The Cash for Houses Concept

The evolution of IITrust comes from one realization: There is a huge gap in the services rendered by local realtors to homeowners whose properties are not in move-in condition. Houses would languish on the market. Agents didn’t make a lot of commission from the sale of these homes so they weren’t motivated to give adequate, responsive, or respectful service to the homeowners of low and moderate income housing that were not in “homeowner condition”.

The Birth of The Intercoastal Investment Trust came out of this realization.

And “We Pay Cash for Houses” in the Baltimore area was born.

Friendly, respectful, responsible commitment to homeowners whose homes were not in perfect condition allowed The Intercoastal Investment Trust to flourish as the #1 buyer of homes for cash in the Baltimore area for many years; a position it still holds today. Currently Intercoastal has three divisions, all stemming from the purchase of homes from sellers who would prefer to have cash now rather than to go through the process of listing their home with a realtor, going through the sometimes long and often fruitless realtor marketing period, only to have settlement not occur.

IITrust never fails to settle and keep it’s agreements with its customers.

Once the homes are purchased by IITrust, a determination is made as to whether the home will be renovated and resold to first time homebuyers or resold in an “as-is” condition to other investors who, in turn, renovate and sell them to homebuyers or renovate them as rental properties for their own investment portfolio.

IIT is a Leader in the Industry

Currently Intercoastal is purchasing homes extensively in Baltimore and the surrounding counties and preparing its business for partnership arrangements with other investors in similar market areas as well as preparing to produce video tapes, manuals and seminars to share its strategies, technologies, and skills for buying real estate as a business as well as on a property-by-property basis. This business will include strategies and technologies for purchase, marketing, renovating and sale, as well as the systems to process hundreds of homes annually by a small firm.

Phil is working on a book to pass on his strategies for developing wealth through the purchase and resale of low and moderate income housing, (now known as the “1st Time Homebuyer” Market).

The Intercoastal Investment Trust is currently located at 1010 Park Avenue, Suite 100 in Baltimore and has a full-time staff of seven people, plus its part time staff, and never-ending series of high level consultants.