The Proactive Realty Income Fund: Providing Secure Homes for Low-Income Families
*CHICAGO, IL / ACCESSWIRE / January 17, 2022 /* As home prices and rental rates rise and foreclosures increase across the United States, more and more people are struggling to keep a roof over their heads. The causes are undoubtedly complex, including COVID and the hit on the economy, salaries that are not keeping pace with the cost of homes, and gentrification. The lack of affordable housing is affecting low-income neighborhoods, whose residents are experiencing increasing food instability, the inability to save for retirement, and transportation and healthcare issues. One town that has been affected is Orangeburg, South Carolina, where the poverty rate is 31.32% and home ownership is low. To help more residents of Orangeburg to have lives of stability and dignified housing, The Proactive Realty Income Fund, LLC, led by its Founder and Managing Partner, Dr. Van Williams, stepped in with a solution: the company would build and manage a manufactured housing community funded by impact-investors.
*Orangeburg, South Carolina: A Snapshot of a Larger Problem Across America*
The Proactive Realty Income Fund states that Orangeburg was the right place for them to bring their housing program. "The average household income for families and individuals was about half the nationwide average," the company says. "With a 2019 unemployment rate of 133.33%, it was not easy for residents to afford good housing, whether they bought it or rented it."
The average educational attainment of residents, Dr. Williams continues, was a high school diploma. "It has been shown that those with a university degree enjoy higher salaries, so this helped to explain why Orangeburg residents had such low incomes, contributing to their inability to pay for dignified homes."
The company adds that over 73% of the community were minorities, whose earnings are typically lower. "With residents stuck in the crossfire of low incomes and rising home and rental prices, we believed that we could help them to solve this through our program."
*How The Proactive Realty Income Fund Helped Orangeburg Residents Move Into Good Homes*
The Proactive Realty Income Fund first worked with residents to hear their needs and visions for their families, then decided to create a manufactured housing community that would be funded by the company's impact-investors. "We chose manufactured housing because we knew that it would provide an immediate return rate of at least 12% for our investors," the company explains. "That was important because no housing project can be managed realistically if investors do not see consistent returns."
Once the project was funded, The Proactive Realty Income Fund created the manufactured homes, whose residents rent-to-own at 6% and put down a down payment of $3,500-$8,500. To improve the surrounding neighborhoods, roads were fixed, cameras were installed all throughout the park, and street signs and streetlights were added.
The result of their efforts, the company states, was a 98% home ownership rate for single mothers and other families. Crime is down, and one resident has returned to college. "We believe this is what happens when you no longer have to worry about where you will live. People can focus on improving other aspects of their lives and experience stability."
*The Proactive Realty Income Fund: Its Background*
The Proactive Realty Income Fund is led by Dr. Williams, who used his experience in buying, selling, and repositioning over $30 million in commercial and residential real estate to start the company. Dr. Williams works with his team to positively impact the human, financial, and social environment of communities by renovating and managing class B and C buildings and by building manufactured housing for financially distressed families.
In 2021, the company provided its investors with a 12-16% ROI as it helped single mothers, domestic violence victims, homeless persons, veterans, and other less-privileged people attain dignified housing. It says this was possible because it works to carefully select properties and realistically manage them with the support of the community. The company also aims to be transparent by using a third party, Impact Fund Administrator, and employing a strong fiduciary standard.
*The Future of the Housing Crisis for Low-Income Neighborhoods in America*
Orangeburg is, of course, only one city, but perhaps it and The Proactive Realty Income Fund can be a model for how to help other people who are seeking affordable housing. As the company works in Memphis, Tennessee, to open a sixty-room, single room occupancy property, it is a reminder that there are more people in the United States who do not enjoy the security of good housing, a problem that is unlikely to change unless more attention is paid to it.
For more information on The Proactive Realty Income Fund, please visit its website or contact:
Dr. Van Williams, CPEP
Vanw@Proactivefunds.com
1-800-626-2089
*SOURCE: *The Proactive Realty Income Fund
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