At our press conference last may we announced that we were looking to create a bank hub that could be used to link up REO’s/Lenders with donation properties to Not For Profit organizations looking for office space, food pantries or even living space for the people they help.
Over the course of the past year we have been back and forth with lenders and a few of the local not for profit organizations in the area. Many reached out to us thinking they would be getting a free house. Which to be fair is the impression we gave with the vague nature of our announcement.
We decided since many of the people coming to us were unprepared to take on a vacant property that we would switch gears to mentoring these non profits through the process, despite not really knowing how or what that process really is.
It was during this time we discovered that LawNY was doing a very similar program to what we were trying to develop and that there were platforms through which REO’s donate homes. We looked into many, many possibilities and eventually came around to the realization that with every home in a differing state of transition as well as each not for profit being at varying stages of readiness we were unprepared to navigate such a huge project adequately.
We are now referring non profits to LawNY to go through their intake process to see if they need legal assistance and help forming their 501c3. So far we are working with two not for profits, one of which is looking at donation homes from one of our lenders. For more info email us!
Our first Not for Profit that was ready to go with funds, a contractor and a national organization’s backing was Brightstar Community Inc. Brightstar Community’s mission is to help women survivors of trafficking, prostitution, and addiction find healing, hope, and freedom. They do this by providing safe and supportive housing, the opportunity for economic independence, and a strong community of advocates and partners. So far we have checked into two vacant houses and are hoping to find their perfect fit this month! Its exciting to not only be able to put a vacant into the hands of a great organization but also know that the community will benefit, as well as the individuals who live in the home. For more info check out their video!
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