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 their E.N.U.F. Mentorship program is now open. The E.N.U.F. project was launched in February 2021 and is now accepting qualified applicants to apply for seed capital and mentorship through the program.
E.N.U.F. is a program designed for real estate entrepreneurs from underserved backgrounds who are committed to improving their communities and closing the wealth gap using the power of real estate. Ideal applicants 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 fund component carried out in partnership with the Tides Foundation, a philanthropic partner and nonprofit accelerator dedicated to building a world of shared prosperity and social justice.
Entrepreneurs who have identified a property may apply to E.N.U.F for seed capital in the form of an equity investment and will receive mentorship and training from industry experts that are passionate about helping others create wealth. Founding mentors include Ashley Flucas, GP of Flucas Ventures; Cheta Ozougwu, Investor at Tidal Loans; Ndukwe Kalu, Managing Member and Head of Operations at Tidal Loans; Jason Lewis, Chief Executive Officer and Founder of Aryming Capital LP; and others.
Ten entrepreneurs will be selected as the first cohort for this program and applications opened on April 1, 2021 and will be accepted on a rolling basis. For entrepreneurs selected to move forward in the application process, interviews will take place in June and July, and accepted applicants will be announced in August.
“We’ve all heard the proverb ‘give a man a fish and he will eat for a day. Teach a man how to fish and you feed him for a lifetime.’ Instead of fishing, we’re focused on real estate,” said Brew Johnson, CEO of PeerStreet. “We want new entrepreneurs to learn the entire investment lifecycle: find deals, analyze numbers, pick comps, secure financing, work with contractors, etc. Our hope is that they can take on real estate projects and replicate success, ultimately building a cycle of wealth creation for small businesses, job creation, and property ownership in the communities they live and work in.”
“The best corporate social programs create lasting change, and the PeerStreet E.N.U.F. program is structured to do that,” said Edward Wang, Director of Corporate Social Impact, at the Tides Foundation. “By ensuring that program participants receive the skills and guidance they need to independently achieve success is so much more valuable than just providing funding alone. We’re excited to see graduates of this program be representative of a diverse group of entrepreneurs making a difference in America’s housing market.”
Real estate entrepreneurs who are interested in applying for the Mentorship program can visit www.peerstreet.com/enuf for more information. For any questions, please reach out to us at [email protected].