I am investing in multi-family units for low-income families to rent affordable housing in decent neighborhoods with strong educational systems. I'm looking to raise $500,000,000 for 1000 units in Charlotte, NC.
TELISM Property Management LLC (TPM), located in Charlotte, North Carolina, is a startup business established in December 2022. The company was created by Isaac S Miller to offer affordable housing options to vulnerable populations in the area. The owner is committed to helping people reach their dream of home ownership despite their challenging life circumstances.
Many potential clients are seeking an affordable housing option. Some of them may find it difficult to obtain housing let alone responsibly meet their mortgage obligation. TPM will assist these individuals to rent or purchase affordable housing. The local market includes both homeowners who are motivated to sell their homes and those who desire to rent or purchase housing. The company will purchase, rehabilitate, and maintain properties to generate working capital.
The company’s target market includes help low-income individuals, single mothers, and others who need a suitable housing option but struggle to qualify with traditional financing and purchase options. Most clients will be low-income community members. Clients may have steady employment but have not been able to save for a down payment. These individuals need a helping hand to get started on the path to home ownership.
TPM is owned and operated by Isaac S Miller. He is also a 20-year U.S. Army veteran with experience in logistical operations. Currently Isaac is responsible for the day-to-day operations of the business, and he plans to hire employees to support growth. He is passionate about this work and will ensure employees are provided with training so they can provide excellent client service. The team looks forward to providing for these individuals in their time of need. The company will work hard to build a strong reputation for providing quality housing and a high level of respectful and compassionate service. The company will develop solid relationships with clients and will take pride in helping clients achieve independence.
The strategy for growing a long-term real estate company will require an initial outside investment of $5,000,000. The funding will provide the necessary capital to purchase properties and perform necessary rehabilitation to sell or rent. These funds will allow the company to employ personnel, initiate marketing, purchase and renovate properties, purchase equipment and supplies, and maintain a cash reserve for families unable or in need of financial support to rent properties.
The funding will allow the company to grow, while increasing the number of affordable housing options in the area. Adequate funding will allow the business to provide clients with exceptional care and service. By providing as much assistance as possible to help potential renters into updated, newly renovated rental properties and excellent customer service, TPM will help rebuild communities and grow a profitable business.
This business plan provides additional information about the company and outlines the sales, marketing, and growth plans. The owner is confident he can implement this business plan. As shown in the highlights chart below, the company will steadily increase sales and profits over the next three years and beyond. The company expects sales to increase by at least 12 percent in the first year and then 20 percent each year over the next five years. The company anticipates generating revenue from short and long-term rentals and any property sales.
TPM offers services to help individuals and families who are in financial duress. The company will provide financial relief by purchasing and rehabilitating the property before offering it for rent to low-income families seeking affordable housing. The company will assist vulnerable populations, unable to afford a home of their own, to improve their living conditions by providing a quality home with suitable living spaces.
The new company is based in Charlotte, North Carolina. The veteran, minority-owned business has a goal to become a leader in affordable housing for low-income populations. The company aims to ensure that every individual deserves to have quality options where they can live and reach their full potential. The company will provide help to create a pathway to success with no discrimination.
TPM will strive to help the building industry grow by advancing quality work and improving neighborhood value with an end goal to provide excellent housing opportunities to low-income and vulnerable populations. The company is dedicated to improving the community and will direct all business activities to that end goal. In time, the company plans to expand services across the region and throughout the country.
TPM will provide real estate services and housing solutions for communities and populations in need of assistance. The company will acquire, rehab, and sell houses, and manage rental properties. Properties will also be offered to individuals and families in financial need. The company will provide safe, clean, and well-maintained homes in communities around the city.
The company will specialize in providing quality and affordable housing to first-time home buyers and low-income individuals who are seeking a change in their living circumstances. These individuals often lack the resources or support to fulfill their housing needs and TPM will step in to assist clients to find the right home at the right price. Many people have homes they can no longer afford to maintain, or they may have other financial difficulties and need help with housing. TPM will focus on assisting clients along the pathway to homeownership or property rental. The homes will help revitalize neighborhoods and help instill pride in the community.
TPM will operate in the real estate industry. A constant issue with the housing market is ensuring affordable housing options. This continues in today’s economy as housing costs have increased much faster than wages and demand has outpaced availability. As household expenses continue to rise, saving enough money for a down payment can seem more out of reach than ever.
Although, shelter is a basic need, many individuals do not have the ability to find suitable and affordable housing. Customers have different needs and housing options vary significantly depending on price and location. Government and civic organizations have tried to improve this situation by offering tax credits and other funding resources for affordable housing, but despite these efforts, demand continues to outpace availability.
TPM will provide affordable housing options in Charlotte, North Carolina, with a goal to expand throughout the region. Charlotte has a population of more than 875,000 residents. The area boasts strong growth in employment opportunities to support the housing market. Many areas in the community are being revitalized to improve the standard of living. The company will specifically target home buyers/renters who need assistance and home sellers who may be in a difficult situation due to variable interest rates, high mortgage balance, or homes that require maintenance and repairs they cannot afford.
Nearly 47% of the households in Charlotte are rented. Unfortunately, many of these rentals are less than 950 square feet at very expensive rate of $1,200-$1,400 for a 1-bedroom apartment. More and more people are moving to the Charlotte area and this housing market is leaving many families unable to either rent/lease these spaces, leaving many families in poor condition rentals.
TPM will target financial duress homeowners who are in financial strife and must forego their obligation of homeownership through a quick/short sell; couples who are divorcing and must split their property in a short amount of time to avoid financial debt increasing; and estate closings with no next of kin to be responsible for the property. The company will appeal to the homeowners in need of assistance in relieving them of financial stress and struggles and financially struggling and short-term renters. The business will offer rental properties to provide them with the basic needs of the property, such as electric, water, and security heat/cooling systems.
TPM will operate with the goal to provide affordable housing to potential homeowners while improving local communities. The company will deliver an improved quality of life through affordable long and short-term housing for the residents in the area as it accomplishes this goal to rehabilitate homes. The primary focus will be to market to individuals and families dealing with challenging circumstances. The company will strategically match renters and buyers with the type of home they need while aligning available financial resources with the client’s ownership goals to find the best solution.
TPM is dedicated to clients and will provide exceptional client care and quality homes. The company plans to grow a profitable business while helping clients achieve home ownership. The owner is focused and determine to help as many women as she can. The company hopes to be a positive resource in the community and will work to support the community in various ways. The client base includes first time home buyers, families who are renting, and prospective buyers who may not be able to afford a new home.
Real estate is a large and competitive market. There are many home buyers seeking newly constructed homes, while the older and smaller homes are often overlooked. TPM is different than traditional realtors in that the company has a specific market of vulnerable groups that many other companies ignore or can’t effectively serve. The company has a mission to help revitalize neighborhoods and make them desirable and livable again, while providing safe and affordable housing options to the target market. The company will complete each project on time with attention to detail and quality to ensure the clients have a quality home. As the company completes renovation projects it will strive to find a perfect match with an intended buyer or renter. The company will offer various styles of housing to potential homebuyers and renters.
TPM will be competitive in the market as it provides excellent customer support and desirable finished homes. The owner has the drive, experience, and passion to help others and make this venture a success. The company will differentiate themselves from other realtors and home flippers through quality work and affordable pricing.
There are numerous real estate businesses in the local market. TPM will earn a reputation for going the extra mile to serve clients. As it earns a reputation for quality and service it will be competitive against other real estate companies such as:
· Costello Real Estate Investments. They were established by investors for investors. They primarily sell and rent homes for profit.
· First Investor Realty & Management LLC offers real estate sales and property management. They do not focus on low-income clients.
· Brian Johnson Real Estate is a local real estate company. They focus on sales in specific neighborhoods and do not engage in any property rentals and do not serve vulnerable populations.
· Government Public Housing offers extremely affordable option for housing accommodations. These accommodations are provided specifically for low-income citizens. Approximately 1.2 million U.S. households are living in public housing units. Unfortunately, public housing has a reputation for poor living conditions, limited privacy, and a lack of safety provisions. There is not a structured program to work toward homeownership.
TPM will rely on a well-executed marketing plan to build the startup company and promote growth. The company will utilize advertising activities that can achieve a broad reach with minimum cost. The company will create and maintain a website to list available homes and offer an online rental application. The company will look to create other online advertising including social media accounts, like Facebook and Instagram to create a recognizable and well-known brand in the local community. These pages will be used to share project updates, promote completed properties, and engage with potential clients.
TPM will also print flyers to distribute in hospitals, local colleges and universities, and other businesses throughout the community. The company will also create other promotional materials to bring awareness about the properties and the company and will distribute them at clinics, shelters, and other businesses in the community.
The startup will also rely on personal advertising. Word of mouth advertising will be key to building the brand and working to fill all available properties. The company will build a network of contractors and realtors in the local market to assist with buying, rehabbing, selling, and managing the properties. The marketing budget will provide for a variety of activities to maintain a steady flow of leads for the business and build the customer base.
Securing housing can be a complicated process under the best of circumstances. TPM will service a market of individuals who have complex financial situations and lack the resources to make this dream a reality. The company will strive to treat all clients with dignity and respect through the home buying or renting process. All calls will be answered promptly so potential clients can begin the rental process.
The company owner will work with local real estate agents, wholesalers, and private sellers to acquire properties. Working with these professionals will provide opportunities to grow a diverse pool of options for individuals in need. The company will then complete renovations and rehabilitation projects to improve the standard of living. The property will then be offered to the local market for sale or rent. Sales personnel will offer promotional incentives such as reduced deposits.
All property sales will be transacted on an individual basis. A price will be negotiated between TPM and the potential buyer. Terms of the contract will depend on the property. The company will take care to ensure rates are affordable within the local market. Rental properties will be offered, and renters will be subject to the contract terms. Referral programs will be available to show clients gratitude as they tell their family and friends about TPM services.
TPM will follow a set of milestones to guide growth through this startup phase. These milestones will be essential to keep the company on track as it offers affordable housing solutions in the local market. The company will market their properties and build connections with the target market and the vendors and contractors who will help develop the properties.
The company will secure and rehabilitate multiple properties for this project. The company will hire qualified contractors and office staff to assist with operations. TPM will initiate marketing efforts to reach out to potential clients and build name recognition. This will include creating a website so potential clients can search properties and begin the home buying process. The company’s milestones are outlined in the chart below and each includes a projected budget and timeline.
TPM will maintain a positive cash flow through startup due to the requested funding. Cash flow is expected to increase over the next five years due to the high demand for housing in the Charlotte area. The company is requesting funding to purchase properties and complete renovations so it can offer affordable housing to their target market. Once the properties are up and running, revenues should increase with each new rental property, which will increase cash flow. As additional properties are acquired the business will make the necessary improvements and continue to increase cash flow into the business.