Bank Loans for Small Businesses
Question
How do I acquire an apartment complex with virtually no money?
There's no urgency here as I am still in college, but I have an idea for a non-profit organization to provide affordable housing to the working poor. It doesn't take a genius to figure out that such an organization would require no small sum of money to run. I'm thinking that running a related for-profit business would be the best way to go, switching it to a non-profit once I've amassed enough money to cover expenses for eighteen months to three years. It seems to me that the best way to provide low cost housing is with apartments; what kind of experience should I gain before buying an apartment complex, and what does it take to convince a bank to loan enough money to buy one? Also, since my college education is pretty much free (thanks dad) what would be the most useful college courses to achieve my above stated goal?
2 months ago - 2 answers
Best Answer
Chosen by Asker
if your idea has merit, it might be possible to get a grant for a non profit organization but you would have to get that first and you will need to get forms 1023 or 1026 from IRS to see if your organization would qualify
by tro
2 months ago
Asker's Rating: 
Other Answers
Go to a local low income apartment complex.. They paid my sister $6 a month to live there.. And some of the others got paid up to $75.00 a month to live there. I know some of them ain't the best places to live. But it's a roof over your head. And some really ain't too bad. I think almost everyone of us have lived in one a some point in our life. Unless you were born with a silver spoon in your mouth. Then you don't know what it's like to struggle....
by Landon- 2 months ago