BLACK-LED NON-PROFIT DEVELOPER TO RAISE $1.5M FOR HOUSING ACQUISITION/REHABILITATION
Nationwide (BlackNews.com) — Virginia Housing and Community Development Corporation (VHCDC), a certified black-led Community Development Entity (CDE), is seeking equity investors for up to $1.5 million to scale its investment model of acquiring, renovating, leasing, and selling single-family homes in low-income communities.
“We have a model that works for black investors. Whether they’re individuals, families, or minority-owned small businesses, we provide an opportunity for regular income, by acquiring run-down, foreclosed homes and turning those structures into quality, affordable housing for disabled and homeless veterans, ex-offenders, and low- to moderate-income families – those who need it most,” said James R. Taylor, Founder and President of VHCDC.
James R. Taylor, Founder and President of VHCDC.
“We’ve worked hard the past few years to build a pipeline of first-time home buyers and position our organization to acquire and rehabilitate foreclosed properties, which enables us to deliver quality, affordable housing to renters and first-time homebuyers alike,” he said.
“We succeeded in attracting a small number of local investors in the past three years who receive regular dividends of about 4% every six months. Our ROI since July 2017 is 28.52%, which we believe is a decent return. Now is the time to scale our Partnership. There’s plenty of real estate in our communities in need of attention, a significant number of disabled/homeless veterans and ex-offenders desperately in need of affordable housing, and plenty of black professionals who can invest in their backyards. We need to make this happen,” said Mr. Taylor.
VHCDC, through its limited partnership VHCDC Community Investment Partners, LP, will use the funds as follows:
* Build an inventory of affordable housing to secure homeownership & leasing options through targeted investment in distressed communities.
* Continue an investment model that successfully rewards investors and encourages additional and sustained investment in Hampton Roads housing revitalization.
* Create long-term construction contracting and venture capital opportunities for minority-led small businesses.
* Deliver attractive annual returns for black investors.
The community development mission of Virginia Housing and Community Development Corporation is to educate and empower individuals, families, and minority business owners to build wealth, access capital and credit, and achieve homeownership. VHCDC achieves this mission through a steady stream of wealth building initiatives, including homeownership education and assistance; small business financing; and, acquiring and rehabilitating distressed housing in targeted communities. It regularly trains low- to moderate-income individuals and families on the mechanics of purchasing a home, conducts pre-purchase and rental housing counseling, and supports and promotes the creation of investment clubs (general partnerships) that enable individuals, families, and minority business owners to build wealth.
VHCDC Community Investment Partners, L.P. empowers individuals, families, and minority business owners to invest in low- to moderate-income communities while reaping financial and social rewards. Local dollars are pooled to invest in real estate projects that turn once dilapidated structures into high quality, affordable, and attractive residential units.
Long term, the Partnership provides Black investors the opportunity to support community economic development, workforce development, neighborhood revitalization, wealth building, and the sustainability of predominantly black neighborhoods. This means local investments in low-income housing, job creation and retention, financial services as an alternative to predatory payday lenders, micro-lending, childcare, and community economic development. There are even opportunities for investments in the region’s Opportunity Zones!
Neither Virginia Housing and Community Development Corporation or VHCDC Community Investment Partners, LP are Registered Investment Advisors, Brokers/Dealers, Financial Analysts, Financial Banks, Securities Brokers or Financial Planners. This Press Release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services. None of the information provided by VHCDC and/or VHCDC Community Investment Partners, LP is intended as investment advice, an offer or solicitation of an offer to buy or sell or as a recommendation, endorsement or sponsorship of any security, company, organization or fund. Virginia Housing and Community Development Corporation and VHCDC Community Investment Partners, LP are not responsible for any investment decisions made by you.
The minimum investment in VHCDC Community Investment Partners, L.P. is $1,000. Small investors may opt for installment payments of $100 per month to reach the minimum. Go to www.vhcdc.org/InvestNow for complete details. VHCDC is a 501(c)3 tax-exempt Community Development Corporation (CDC) and a U.S. Treasury Certified Community Development Entity (CDE. To support VHCDC directly go to www.vhcdc.org/donate and give a donation of $25 or more. Contributions are tax-deductible to the extent permitted by law.