Kenneth Bailey
Mableton, GA (USA)
Role(s):
Founder/Owner/Principal
HEART
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Startup
Location:
Mableton
Industry:
Real Estate
Year Founded:
2008
Number Employees:
1-10 people
Description:
I am seeking to raise $250,000,000 to fund a real estate investment trust named Helping Ensure Atlanta's Recovery Trust. HEART is designed to help jump start the Atlanta area's recession recovery by purchasing most of the foreclosed home currently depressing the real estate market. Those homes will then be renovated and rented out at below market rates, helping to bring income to the city as well as bring people into the area to frequent local businesses. No house will carry a mortgage and HEART does not have any plans to sell the properties once acquired.
Currently I am seeking legal advice about the many tax implications on running a trust in the state of Georgia, however, if you have any questions, please feel free to contact me.