Does Anyone Work with Non-Profits that buy real estate?

Hi Stacy, I had two non-profits and worked closely with two theres in my area. I'm not buying for them now, but why don't you look into it for yourself. You have already seen that there are benfits.

Jerry Puckett

Wholesaler · Irving, Texas

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May 12 '11, 02:03 PM

Hi Stacy,

I very recently started buying for the Fort Worth Hope Center. So far, only SFR's in and around Tarrant County Texas. Where might the properties on your list be?

Bill Gulley

Real Estate Investor · Springfield, Missouri

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May 13 '11, 01:21 AM

Ed, I think Stacy left the building for awhile.

What are you doing in your area as a N/P?

Stacy Dieckman

Real Estate Broker · Indianapolis, Indiana

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May 13 '11, 02:27 AM

Ed,

I'll follow up first of the week with what's available in your area.

Thanks,

Stacy

Stacy Dieckman

Real Estate Broker · Indianapolis, Indiana

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May 13 '11, 02:31 AM

Finance,

I think you give great advice. I am setting up a couple of non-profits, one dealing with housing here locally in Indianapolis. I'd love any feedback about how your not for profits ran and any obstacles I can avoid.

Thanks,

Stacy

Jerry Puckett

Wholesaler · Irving, Texas

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May 19 '11, 02:46 AM

Originally posted by Financexaminer

Ed, I think Stacy left the building for awhile.

What are you doing in your area as a N/P?

It was me that left the building Bill. The Fort Worth Hope Center actively fights hunger and feeds hope. We operate a large food and clothing bank, teach GED classes, have a certification course for forklift and scissor lift, computer classes, and a Dental clinic in the works.

We are looking to begin rehabbing SFR's to both fund the ministry, and put men to work. Our contractors are ministry partners who employ those who have serious challenges to employment.

Down the road, we are going to be looking at a small, 20 unit apartment building in the HEB area to stage families getting back on their feet.

Bill Gulley

Real Estate Investor · Springfield, Missouri

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May 19 '11, 03:27 AM

Sounds great Ed, I like that, Fight Hunger and Feed Hope. Every non-profit has to have in it's mission a slogan that says what direction they are going. Short and sweet statement of the goals. I'd suggest you move along the lines of Habitat Fof Humanity, more or less, requiring sweat equity to get into housing while training for an occupation. Depending on your views, interest is an issue that is a cost of buying, homebuyers could work the interest amount off and allow the non-profit not to charge interest if that is an issue with your ministry. Moving people first into apts is a good idea before earning their way into home ownership. In the apt, you might use Section 8 if you structure it properly. The lease may not have any subsidy for home ownership involved. This allows time to ensure your buyers are ready for the responsibility, there is a learning curve with social implications, I'm sure you are aware of that aspect too. Good luck

Bill Gulley

Real Estate Investor · Springfield, Missouri

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May 19 '11, 03:33 AM

Stacy, there are many ways to organize a non-profit. The very first thing to understand is that any non-profit will be political to some extent. Make sure your mission does not overlap that of another for best results, if it does, it should target a slightly different client base IMO. Tax credits, low interest loans under the Community Reinvestment Act, economic development funds and grants are pretty thin I'm sure, but understand that there is alot of competition for support from all non-profits that are not totally financed through NGOs.

Where are you in your N/P or what's the mission of the organization?

Stacy Dieckman

Real Estate Broker · Indianapolis, Indiana

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May 21 '11, 12:58 AM

Ed,

I have good news for your group if you are going rehab and sell the homes to fund your non-profit. I am going to do a similar thing here in Indiana. Let's talk this week.

Thanks,

Stacy

Stacy Dieckman

Real Estate Broker · Indianapolis, Indiana

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May 21 '11, 01:05 AM

Finance,

If you are willing to talk more about your non-profits, I would like your opinion. I'm in the early stages of refining the mission statement to allow for growth without diluting it too much. I want to make sure the mission is still accomplished even when the current real estate market changes.

I'll keep you posted.

Stacy

Bill Gulley

Real Estate Investor · Springfield, Missouri

5,643 posts
13 awards
100 influence

May 21 '11, 01:47 AM

Originally posted by Stacy Dieckman

Finance,

If you are willing to talk more about your non-profits, I would like your opinion. I'm in the early stages of refining the mission statement to allow for growth without diluting it too much. I want to make sure the mission is still accomplished even when the current real estate market changes.

I'll keep you posted.

Stacy

What is you target mission, who are your clients?

Can you get 3 or 5 peole to put on the Board of Directors where there is mutual trust and who are not related to you?

If you want a salary or any compensation, you need to be the Executive Director, not on the Board.

That's for starters! Do it as a 501C3 Corp.

Steve Sparks

Real Estate Investor · cincinnati, Ohio

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May 22 '11, 11:05 AM

Stacy,
I consult for a N/P that buys property in Cincinnati. If there is any properties in your list that are here let me know.

Thanks!