Jack Ervan III’s Post

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Chief Executive Manager at Ervan Management Group

So my city, the city of Chicago have a community development grant program going on. To renovate destressed houses in underserved communities. They are in a dire need for community redevelopment. I believe it’s a win win situation for lenders of any sort. Through the program, not only are investors gaining properties in the city of Chicago at a discounted price but the program giving back 75% of total price of rehab project, long as you can show you have access to 50% of total project cost. Wowwwwww !!! So not only are an investor securing property, benefiting from the equity increase, they also only spending 25% and recouping 75% in reimbursement of said total cost.

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