Aha, now I know. I'm an Upstart Breakout Small-Multifamily Emerging Manager! My VC backed HeroHomes.com is a type of "Zillow.com/Realtor.com meets Groupon.com on steroids." To get 200+units institutionally investable multifamily scale, we find, educate, pre-pre-qualify, pre-sell-to, and empower COHORTS of our fellow 18+M military vets with the unknown to us fact that we can use our no-money-down (i.e. 100% LTV) VA Loans to build, rehab, or buy, and become owner-occupying landlords in 2-4 family all residential or mixed-use resi income producing properties for both vet and non-vet renters, such that 50+ vets with 50+ quadplexes gets us to the 200+ units. Thus multifamily economies of scale cost reductions and professional management even in semi-scattered sites infill mode. And the elimination of single-family zoning via "missing middle housing" in California and beyond makes all this very timely. For the developer this eliminates the cost, hassle, and delay of seeking later stage LP investment, and instead moves 10th of that investment to the pre-development (co-GP?) level, but with all the same upside as a full LP investment. Thus with reward far exceeding risk, particularly if the rents are guaranteed by housing-development focused for- or non-profits, government, or foundations who presently are using their too little funds for not enough housing. And a needs no permissions, 100% US Govt, new-wine-in-old-bottles, by precedent up to 48-72% annualized spreads offering, 2-4 units FHA, VA, and USDA loans only pure-play, and thus far superior form of GNMA RMBSs closes the virtuous circle of housing finance. I once got Ray Dalio telling me "We'll take all you can give us" regarding these "HeroMaes," but he's since gone sour on US Govt debt. Better the least ugly bride with a trillion dollar dowry, though, since GSE and Agency MBSs will always be at the core of the core of institutional investing, particularly amongst the conservative life insurance, pension funds, and sovereign wealth funds? I welcome talking to potential developers looking to avoid today's version of capitalism, or investors looking to go earlier but for much higher returns. HeroHomes' Mission Statement: "By/for/with locals first to VETrify versus GENTrify the Great American Renewal." Or call it "philanthrocapitalism": "Mother Theresa and Genghis Khan have a business model baby"? reed@herohomes.com 415-342-3634
Aha, now I know. I'm an Upstart Breakout Small-Multifamily Emerging Manager! My VC backed HeroHomes.com is a type of "Zillow.com/Realtor.com meets Groupon.com on steroids." To get 200+units institutionally investable multifamily scale, we find, educate, pre-pre-qualify, pre-sell-to, and empower COHORTS of our fellow 18+M military vets with the unknown to us fact that we can use our no-money-down (i.e. 100% LTV) VA Loans to build, rehab, or buy, and become owner-occupying landlords in 2-4 family all residential or mixed-use resi income producing properties for both vet and non-vet renters, such that 50+ vets with 50+ quadplexes gets us to the 200+ units. Thus multifamily economies of scale cost reductions and professional management even in semi-scattered sites infill mode. And the elimination of single-family zoning via "missing middle housing" in California and beyond makes all this very timely. For the developer this eliminates the cost, hassle, and delay of seeking later stage LP investment, and instead moves 10th of that investment to the pre-development (co-GP?) level, but with all the same upside as a full LP investment. Thus with reward far exceeding risk, particularly if the rents are guaranteed by housing-development focused for- or non-profits, government, or foundations who presently are using their too little funds for not enough housing. And a needs no permissions, 100% US Govt, new-wine-in-old-bottles, by precedent up to 48-72% annualized spreads offering, 2-4 units FHA, VA, and USDA loans only pure-play, and thus far superior form of GNMA RMBSs closes the virtuous circle of housing finance. I once got Ray Dalio telling me "We'll take all you can give us" regarding these "HeroMaes," but he's since gone sour on US Govt debt. Better the least ugly bride with a trillion dollar dowry, though, since GSE and Agency MBSs will always be at the core of the core of institutional investing, particularly amongst the conservative life insurance, pension funds, and sovereign wealth funds? I welcome talking to potential developers looking to avoid today's version of capitalism, or investors looking to go earlier but for much higher returns. HeroHomes' Mission Statement: "By/for/with locals first to VETrify versus GENTrify the Great American Renewal." Or call it "philanthrocapitalism": "Mother Theresa and Genghis Khan have a business model baby"? reed@herohomes.com 415-342-3634