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Prosperous Homes
Remote
16606 Frances St Omaha, NE 68130
prosperoushomes.net - Site under construction
https://www.facebook.com/RealProsperousHomes
Keilah Scott
info@prosperoushomes.net
+1 (402) 320-9783
Yes
Keilah Scott: Prosperous Homes: A computer engineer and landlord since 2016. She has participated in real estate transactions as a mentee and jv partner. However, she has done solo investment projects including 3 long term investments and 2 flips. She is an aspiring Real Estate Broker and Tax credit real estate investor. Her dream is to transform urban neighborhoods into urban utopias! Alexis Scott: Advisor Alexis Scott has been a real estate investor since 2008. She continues to invest in and provide housing for many single parent and low income housing families in the North Omaha community. She now serves as COO for Prosperous Homes.. Neeraj Agarwal: Clarity Development and Aldrich Holdings Nebraska. Neeraj Agarwal is a tax credit real estate investor and mentor since 2020 for Keilah. He has participated in many commercial affordable housing projects in the community and continues to be a huge force in making Omaha a better place. Prosperous Homes is currently collaborating with Neeraj and Aldrich Holdings Nebraska on tax credit investing projects like 2501 Center St., and Howard St development projects. https://www.linkedin.com/in/neeraj-agarwal-63497728 Rahul Agarwal: Financial Advisor at Modus Co Working Rahul Agarwal is the president of Midwest Urgent Care and has given his time to assisting in the business structure and financial projections for the project. https://www.linkedin.com/in/rahulagarwal3
Keilah Scott: Owner/CEO -Manage revenue, expenses and external financing to maintain the consistent growth of the business. -Team building and Hiring -Investment Management, Brand Management and Corporate Relations/Development. Alexis Scott: COO -Focus is on the organization's current operations and financial status. carrying out the details of the company's business plan and strategy.
3 Long-term investments (Rentals) 2 Buy and Sell (Flip project) Studied with Investors/Mentors in Tax Credit financing, Senior Living and Historic housing Development. Currently, working with Neeraj Agarwal on several projects such as 2501 Center St Redevelopment as well as 15th and Howard St project. This proposal plays an important role in the beginning of many North Omaha development projects starting in 2023 in partnership with Clarity Development, Aldridge Holdings and many other businesses in the community.
Prosperous Homes Phase I
1065000.0
1000000.0
Combination of capital project and service/program
We are requesting start-up capital. Our goal is to purchase 4 undervalued properties in the North Omaha Qualified Census Tract, remodel and retain them as long-term investments for individuals within the community. Preferably historic structures in the North Omaha area. Properties will be acquired from various sources such as the city’s tear down list and Omaha Land Bank. These four properties will be rehabilitated and used to support the community’s need for housing as well as building wealth within. 50% of the project will be dedicated to affordable housing candidates. Those individuals will have the opportunity to go through our educational program to learn the benefits and importance of owning and maintaining a home. Our mission is to guide our renter through the real estate cycle of not only renting, but owning. Our desire is to stick with them through each stage of the process. From renting to owning and ultimately using the property as equity to fund their first investment properties. This to create generational wealth and financial freedom by empowering and educating them with prosperous investment solutions. This project will be the first of many in an effort to build better families, communities and businesses while keeping local land and houses IN the community. In an effort to build better businesses we are looking to hire within. Each piece of the project will be completed by a member of the North Omaha community. This includes all construction work, licensed contractors, as well as any other work or services needed to complete the project successfully. The timeline for this project will be as follows: All properties will be acquired and restored by the end of 2025. This will allow us about 6-9 months to acquire the properties, leaving us with a year to restore them all. We anticipate another 30 days to place the chosen candidates into their new homes. We will take applications during the restoration process to ensure that we have given the time needed to make the best choice possible. Upon Project success we look to complete our first 60 unit senior living project(2025).
Properties to be acquired by the end of first quarter 2023. We are currently vetting licensed contractors and local construction companies within the North Omaha area. We will have each contractor submit their bids for the project and choose from the top three. Each property will take about 6 months to complete from start to finish. During this 6 month period we will be collecting applications from rental candidates. We anticipate that the project will be completed by the end of the fourth quarter 2025 so that we can have our renters in their new homes by first quarter 2026.
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Fundamental Change (i.e., a proposal that will continue to elevate North or South Omaha's presence and perception within the region, significantly improving the lives of area residents through physical development) Long-Lasting Economic Growth (i.e., a proposal that will foster gainful employment opportunities and financial investment in the area, leading to the creation of generational wealth and widespread economic vitality in North and South Omaha) Transformational (i.e., a proposal that will help energize, recharge, or spur significant and favorable advancements in North or South Omaha's function or appearance)
Policy (i.e., develop or improve context-sensitive education, finance, health, training, zoning, etc.) Quality of Life (i.e., create or enhance natural spaces, mixed uses, parks, safety, etc.) Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)
Sustainable Community: By creating homeowners in the community we will foster great communities, great families and even better education opportunities. Quality of Life: Prosperous Homes plans to meet the Quality of Life need by providing cleaner and more resourceful communities in the North Omaha QCT areas. In turn creating safer communities. Policy: Financial Literacy is at the top of our list when it comes to the educational offerings for these tenants through our program.
Transformational: This proposal is one that will not only energize and recharge the community but it will also create jobs and community relationships for generations to come. This will be done by collaborating with North Omaha small businesses. Including but not limited to collaborating 2 or 3 North Omaha female owned businesses. In an effort to keep the funds in the North Omaha area and create unity. Fundamental Change: This proposal will improve the lives of area residents by creating prosperous investment opportunities to all in an effort to close the wealth gap. Long-Lasting Economic Growth: Prosperous Homes will create long lasting economic growth by working with small businesses and entrepreneurs specifically in the North Omaha area. This will be accomplished by creating prosperous investment opportunities to all in an effort to close the wealth gap. And, Yes! Nurturing and supporting what already exists with funding and technical assistance; networking related to entrepreneurs and community groups (opportunities)
Among many other things, by meeting the housing needs in the community, Prosperous Homes will also address work toward "Rehabilitation, renovation, maintenance, or other costs to secure vacant or abandoned properties in disproportionately impacted communities; " (c) Acquiring and securing legal title of vacant or abandoned properties in disproportionately impacted communities;
We are looking to collaborate with minority businesses in the QCTs. However, we are still in the planning stages and actively meeting with prospects and getting these numbers.
Still to be determined.
Still to be determined.
Still to be determined.
This will be done by collaborating with North Omaha small businesses. Including but not limited to collaborating 2 or 3 North Omaha female owned businesses. In an effort to keep the funds in the North Omaha area and create unity.
This will be accomplished by creating prosperous investment opportunities to all in an effort to close the wealth gap.
Nurturing and supporting what already exists with funding and technical assistance; networking related to entrepreneurs and community groups (opportunities).
This proposal will build trust within and in turn allow unity and comfort in each other.
Our goal is to continue providing our services in the North Omaha QCTs and to transition into Senior Living developments.
Yes
We are currently looking into partnerships with several local businesses to accomplish this project.
0
No
Currently looking to acquire prospective properties in the QCT area.
Within one or more QCTs
We are looking to spend all funds on acquisition and restoration costs of each property not to exceed 250,000 per unit. Currently working on financial sheets to reflect.
100% of the funds will go into acquisitions, labor and placement costs.
Yes
No other funds will be needed to sustain these properties beyond those expressed under the lb1024 grant guidelines and processes.
no
This proposal is scalable. However, it will not require any additional funds for sustainability.
We will continue to make investments in the North Omaha area and use these projects to prepare for future senior living projects as mentioned to start in early 2025.
Prosperous Homes will continue our financial obligations by funding the business start up costs needed to continue normal business. We will be liable for investing time and any additional funds needed to make this project a success. To date we have invested roughly $60,000 in funds towards real estate education, training, certification and labor costs associated towards marketing, contractors and consultants.
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Proposal Budget/Sources and Uses