Questions

Would this be a good place to get funding for a tiny home community development?

I'm looking to develop a tiny home community consisting of 4 tiny homes. I own the two lots and could use them as collateral. I also have amazing credit without any debt. I would rent the homes. I've done a test ad to feel out my market and it seems like it will be a huge success! I would prefer to maintain ownership of this community.

2answers

I actually just came across this article from Real Estate Crowdfunding Platform Patch of Land about how tiny homes are going to be very innovative and popular: https://patchofland.com/blog/growing-communities/2015/01/28/innovation-online-residential-real-estate-investing-patch-of-land/. In terms of the funding, Patch of Land focused on the debt side of the equation and usually focuses on fix / flips. You might be better off trying to raise equity for this type of construction through real estate crowdfunding avenues. Have you looking into those avenues for your funding?


Answered 5 years ago

I am doing something very similar right now with shipping containers. Personally, I don't think you should try to raise start-up funding for a business like this. If your credit is great, a small bank loan is all you need. People do this all the time and you're at an advantage because tiny homes are so cheap! If you don't want to take a loan, start looking locally and network with a developer in your area. They may have the Capitol and could be interested in a project like this (that's what we did).


Answered 4 years ago

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