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Underserved real estate entrepreneurs can apply for mentorship, training and funding through the program.
LOS ANGELES – (BUSINESS WIRE) – PeerStreet, an investment platform that drives wealth creation through real estate, has announced that applications for its ENUF mentorship program are now open. The ENUF project was launched in February 2021 and is now accepting qualified applicants to apply for seed capital and mentorship under the program.
ENUF is a program designed for real estate entrepreneurs from disadvantaged backgrounds who are committed to improving their communities and closing the wealth gap using the power of real estate. Ideal candidates have the talent, drive and commitment to invest in real estate, but face barriers to mentorship and capital. The program created by PeerStreet includes a fundraising component carried out in partnership with the Tides Foundation, a philanthropic partner and non-profit accelerator dedicated to building a world of shared prosperity and social justice.
Entrepreneurs who have identified a property can apply to ENUF for seed capital in the form of a capital investment and will benefit from mentoring and training from industry experts who are passionate about helping businesses. others to create wealth. Founding mentors include Ashley Flucas, GP of Flucas Ventures; Cheta Ozougwu, investor at Tidal Loans; Ndukwe Kalu, Managing Member and COO at Tidal Loans; Jason Lewis, CEO and Founder of Aryming Capital LP; and others.
Ten entrepreneurs will be selected as the first cohort for this program and applications will open on April 1, 2021 and will be accepted on an ongoing basis. For entrepreneurs selected to advance in the application process, interviews will take place in June and July, and successful applicants will be announced in August.
“We’ve all heard the saying ‘give a man a fish and he will eat for a day. Teach a man to fish and you will feed him his whole life. Instead of fishing, we focus on real estate, ”said Brew Johnson, CEO of PeerStreet. “We want new entrepreneurs to learn the whole life cycle of investing: finding deals, analyzing numbers, choosing mixes, getting financing, working with entrepreneurs, etc. We hope they can take on real estate projects and replicate success, thereby creating a cycle of wealth creation for small businesses, job creation and land ownership in the communities in which they live and work.
“The best corporate social programs create lasting change, and the PeerStreet ENUF program is structured to do it,” said Edward Wang, director of corporate social impact at the Tides Foundation. “Ensuring that program participants receive the skills and guidance they need to be successful independently is far more valuable than just providing funding. We are delighted to see the graduates of this program represent a diverse group of entrepreneurs who are making a difference in the US housing market.