Maggie Nickerson

Lewes, DE (USA)
Role(s):
Active Funding Request

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Founder/Owner/Principal

Affordable Homes for Humanity, Assoc

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Location: Lewes
Industry: Real Estate
Year Founded: 2012
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: "C" Corporation
Description: Mission Statement: To improve distressed communities and the lives of local people by revitalizing the housing industry one neighborhood at a time. Affordable Homes for Humanity is a registered corporation in the state of Delaware, and pending their non-profit application. Recently founded by Maggie and Tom Nickerson, the company plans to leverage funding through private investors, community organizations, government grants and general fundraising. AHFH expects to begin offering its services in 2012. Services: Following the acquisition of foreclosed homes, AHFH will rehabilitate these properties in collaboration with community Sub-Contractors, Suppliers, Banks and Government Agencies thereby generating additional jobs while helping the overall economy. Upon the rehabilitation of these homes, AHFH will be able to offer affordable real estate services through Financial Partners to their diverse clients. AHFH will therefore create affordable homes in communities across the United States and improve distressed communities and the lives of local people by revitalizing the housing industry one neighborhood at a time. Market: The real estate industry has suffered many setbacks in recent years, with over 3.4 million families undergoing foreclosure. This creates a unique market in which investors can seize a creative opportunity. Rather than allowing those foreclosed homes to either fall into or remain in the hands of the banking institution, AHFH can create a synergy that aligns potential sellers and buyers with a distressed properties. Finances: Start-up expenses and funding required are projected to be approximately $1.2 Million. This includes acquisition expenses and the remaining amount in cash needed to support operations until revenues reach an acceptable level. Most of the company's liabilities will come from external private investors, community organizations, government grants and general fundraising. The company expects to reach profitability in its first year and does not anticipate any serious cash flow problems. We conservatively believe that during the first three years, an average profitability of roughly $59,700 per month will be adequate. We also expect that with a minimum of one sale per month during the initial year, the break-even point will be guaranteed by the second quarter of operations. In the wake of the recent findings that homeowners undergoing foreclosure endure stress-related illnesses which take a toll on mental and physical health, AHFH is not only providing a more viable economic channel for the flailing real estate industry and distressed communities throughout the nation, but also offering a healthier outlet for both buyers and sellers alike. My company, Affordable Homes for Humanity Assoc, needs investors to support the future purchases of distressed homes and their rehabilitation. We are looking for $500k in small business funding in order to grow our real estate company. Affordable Homes for Humanity, Assoc is located in Lewes, DE. We have focused on strategic partnering throughout the housing industry such as government agencies, other non- profit organizations, Realtors, Financial institutions and community involvement this will also give us the competitive edge needed to meet our goals and separate us from our competition. We have available at your request a full business and Marketing plan. We're mainly interested in these types of funding: Equity Funding (VC, Angel, PE) Alternative/Creative FinanceOperational/Growth Funding - Short term lending with monthly draws (construction) The funds will primarily be used for the following: - Purchasing and renovating distressed properties, Operating/Growth Capital (Payroll, Sales & Marketing, etc) Please let me know if you have any further questions or need detailed information regarding the funds we are seeking. Respectfully, Maggie Nickerson,Founder, CEO www.affordablehomesforhumanity.org maggie@affordablehomesforhumanity.org 866-631-5451