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.
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 10 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 9 years ago
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