Hopeful Housing, LLC | Application Preview
Hopeful Housing, LLC is seeking government grants to expand affordable housing options by adding 6-10 units to an existing multi-family property. The business has gained considerable support through local Veteran Programs, SSDI, and Probation Departments, which helps connect with individuals in need, such as homeless individuals, veterans, and ex-felons seeking a fresh start.
The property, acquired in June 2015, is a renovated Craftsman-style multi-family home on a 1/3 acre lot, with the potential to build up to 15-17 units. Currently, the property has four units available with laundry facilities. The owner saw potential in an area initially overlooked by others, resulting in a significant increase in property value.
Located near essential community services like public transportation, grocery stores, and employment opportunities, the location enhances residents' chances for success. Hopeful Housing faces competition from the Pierce County Housing Authority, but differentiates itself by offering more supportive services and flexible move-in arrangements, without burdensome background or credit checks.
The competitive edge lies in the owner's personal involvement with residents, including assistance with furnishings, transportation, and financial management. Move-in costs are kept low, typically only requiring the first month's rent, allowing individuals to transition into stable housing while developing essential life skills. This hands-on approach fosters a supportive environment aimed at helping residents achieve their goals.
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General Information
Business Registration Number: 604228175
Location: MONTESANO, WA, United States
Length of Operation: 5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
To create more affordable housing needs (6-10 Units) on my current Multi-family 3 property.
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Business Plan
Tremendous support of my housing units is provided through a large network by word of mouth amongst the Veteran Programs, SSDI and Probation Officers within the local Community Probation and Parole Departments have always provided an ample amount of people waiting for an availability. I have consistently rented to an unwanted population (i.e. homeless, vets, ex-felons in need of an opportunity for a new start, etc..) There is a vast need for the opportunity to provide more affordable and accessible housing needs through the building of additional units or one main bldg. structure. I purchased this property in June of 2015 – It is a renovated Multi-family 3 zoned, Craftsman type home. I am on approximately 1/3 acre and can build up to 80ft with a total of approximately 15-17 units allowed. Currently, there are 4 Units available with laundry facilities available but would like to provide more. The Realtor continuously discouraged me from the area and it has turned out to be a "diamond in the rough" opportunity. Well, I bought low - due to others lack of interest and now the property has nearly tripled in value! The proximity of many valuable community services available (which increase the ability for success) for those serious about being given an opportunity played a huge part. Hugely important is the location! It is walking distance to train station, bus hub, grocery, convenience stores, work force opportunities, etc.
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Self Identified Competition
My entire city block is Pierce County Housing Authority. I am approached regularly by their purchasing agents, but I have no desire to sell. They would be the closest to what I do, but don't offer anywhere near what I do or willing to provide the opportunity I do for these individuals with regards to move ins costs, background and credit checks, etc. My personal involvement with each resident. I provide what I am able in furnishings, transportation and personal care. Move in costs are made manageable for them (usually, with first month rent only) Also, I do a very limited to no background/credit check as those items have been huge barriers to living arrangements for these individuals. There are many challenges and they must learn how to plan. A sober living is required, they must pay rent on time. Budgeting and learning money management tools is of the essence. I have talks often and advice provided. I am always available to help them meet their goals.
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Contact Applicant
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