Investment Opportunity

[Lamont Carter]

Hi My name is Lamont Carter, I'm sure the questions in which I may pose are common and may seem a bit redundant, but I would sincerely appreciate the feedback and guidance. Thus far I have consumed several ideas of how one can embark on the real estate journey of buying multi-unit homes and rehabbing them as rental properties. I have explored creating a non-profit to assist with tax abatements and consumption of grants but found that I would have to convene a board of directors composed of 3 members and not stand to gain personal profits. I'm currently exploring the option of crowdfunding, community development grants, VA and FHA- 203K , section 108 Loans to fund my enterprise.As you can see this millennial is in grave need of some wisdom and direction. My sole intent is to procure investment properties in Low-income, increased crime activity areas, and neighborhoods enduring poverty primarily in Newark & Jersey City. This is where I can create units available to; section 8, senior citizens & disabled individuals. I'm sure you get the picture!!!! One might say this kid is crazy and in for a rude awakening, I would say it's a challenging opportunity that if cautiously and diligently embarked upon can be successful and financially rewarding. I would really appreciate some guidance as to how I can obtain funding or put minimal down to start the investment but have the opportunity to begin a 2nd project within 6 months if possible? What are my financial options and how do I pursue it i.e. crowdfunding, grants, investors, traditional financial institution( I understand this process), GAP funding or community housing development dept? Also is it wise to purchase a severely dilapidated multi-family home at below market value but stipulate extensive repair cost, if so what is the threshold to not exceede for construction and purchase price? I hope my questions are clear and concise, though I sound audacious I'm determined to leverage this project to help others find affordable and reasonable housing while also making a profit. Any advice or completely transparent remarks, questions or comments are welcomed and appreciated. Thanks.