Hudson Properties LLC | Application Preview
Hudson Properties LLC is seeking government grants to fund the purchase of rental properties, focusing on long-term rentals in proximity to Purdue University. The funding will facilitate either full property acquisitions or significant down payments on multiple properties to revitalize and expand their business.
The company's strategy involves acquiring one to two homes each year, emphasizing stability and proper management by remaining local to the properties. They have shifted away from short-term rentals due to their unpredictable nature and past challenges experienced from 2017 to 2020, which included operational volatility and increased costs. Previously, they maintained profitability and successfully sold a property with a $50,000 profit in March 2020.
Hudson Properties aims to cater to families, professors, and graduate students rather than the typical student market dominated by larger competitors. Their extensive experience in the credit industry, spanning over 20 years, positions them to effectively identify suitable tenants for their rental homes, further enhancing their competitive advantage in the local rental market.
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General Information
Business Registration Number: 201709191214821
Location: West Lafayette, IN, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
This funding would allow us to either outright purchase a property or be a substantial down payment on multiple properties to resume our business and grow it again.
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Business Plan
We plan to acquire properties for long-term rental. We live near and are looking for properties near Purdue University so we can stay close and properly mange the homes. We learned from pre-pandemic times that short term rental is too volatile, so this time we would focus on long-term rental homes. We plan to purchase one to two homes per year to grow slowly and steadily. First and foremost, we are looking for properties that are local so they can be properly maintained and managed. Secondly, we learned our lesson from 2017 to 2020 with short term renters and how tumultuous that can be, not to mention expensive. Through that, we were able to stay profitable and sell our property in March of 2020 with a $50,000 profit. Lastly, I have been in the credit industry for over 2 decades and understand how to find the right renter for the right property.
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Self Identified Competition
Being next to Purdue University, we see a lot of big competitors that rent to mainly students. We are looking to tent to families, professors, or grad students that want a quiet place to call home. As mentioned above, we are looking to acquire properties that will match with families, professors, or grad students that want to live near Purdue, but not at or on Purdue’s campus.
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Contact Applicant
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