LM REI Capital Group | Application Preview
LM REI Capital Group is seeking government grant funding to support its mission of providing affordable housing to minority families in gentrified areas, specifically in Houston, Texas. The funds will cover marketing costs, real estate purchases, housing maintenance, contractor services, and realtor fees.
The business plan outlines a goal to own over ten duplexes by 2023, which will be rented at affordable prices to minority families. The initial grant will facilitate the acquisition and rehabilitation of a multi-family property, after which the company plans to refinance and use the proceeds to acquire additional properties. Once they have five properties, LM REI also intends to sell two to pay off loans and continue growing their portfolio for rental purposes.
The funding request emphasizes the positive impact of investing in LM REI, as it will help revitalize local communities and support minority families. The company has already completed five successful projects aimed at aiding these families. Additionally, LM REI plans to implement educational programs related to home ownership and financial budgeting for their renters.
LM REI's competitive edge lies in its focused approach to building wealth among minority families in economically challenged neighborhoods, offering financial programs that other competitors like Mayberry Homes and Ameritex Homes do not prioritize. By addressing the challenges of gentrification and promoting property ownership, LM REI aims to stimulate economic growth in the Houston area.
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General Information
Business Registration Number: 32077301771
Location: HOUSTON, TX, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
Funding will used for marketing expenses (website, business cards), purchase of real estate property to build/rent to minority families, maintenance on houses, contractor expenses, realtor fees.
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Business Plan
By 2023, we plan to own 10+ duplexes that we will rent to minority families at and affordable price point. To get there we are asking for your grant to get us started. This will help us acquire our first multi family property which we will rehabilitate, rent, then refinance to purchase additional property. Which we will complete the process. Once we have 5 properties we plan to sell two on the real estate market to liquidate and pay off all loans. With remaining money and revenue we will continue to purchase multi family properties to rent out to minority families. The number 1 reason investors should invest in LM REI Capital Group is due to our mission of providing affordable housing to minority families in gentrification areas. (As we are a minority owned company) Investors will know that their monies will go to an awesome cause that will continue to revitalize Houston, Texas. We have done 5 projects so far that have assisted minority families. We plan to create a program to teach minority families on home ownership by creating a lease-to-own program and financial budgeting program for our renters for a select number of properties.
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Self Identified Competition
1. Experienced builders like Mayberry homes which are building and renting out there properties to minority families. 2. New western - hedge fund purchasing properties to give to investors without a focus on minority families nor minority investors. 3. Ameritex homes - A builder purchasing properties to give to investors without a focus on minority families nor minority investors. We are focused on minority families wealth within improvised neighborhoods/gentrifying neighborhoods/opportunity zones. We have financial programs to assist minority families with property ownership which our competitors are not focusing on. We are able to stimulate the economy and assist with the problem of gentrification within the Houston Texas market.
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Contact Applicant
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