Morganroth Venture LLC | Application Preview
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General Information
Business Registration Number: 805088228
Location: Killeen, TX, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
I intend to use this for building my first starter home (Model T ford inspired) that is simple and functional with a mid-western American aesthetic. 800 sq ft 1 BR 1BA w/loft home on 0.15 parcel. I intend to build this in a lake community that has predominantly working class population.
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Business Plan
Currently I am trying to grow my business my buying vacant lots in safe quiet neighborhoods in Henderson County, Texas. I develop it and then owner finance the lots to potential buyers. Speaking to the buyers, I noticed a real need for small starter home since the cost of manufactured homes are going up and utility hookup is also pricey. I would like to provide the land, the utility hookups, and a sturdy small (800 sq ft) site built 1BR 1BA homes that have lofts and outdoor livable space. so as to provide the lower middle class a chance to afford a home that is designed to improve quality of life. I'm aspiring to provide a supply of simple (Model T inspired) homes to the forgotten people of America. By providing a small site built homes, banks and lenders are more apt to fund those than manufactured homes with favorable terms. I want to provide homes that the customer truly wants and can afford. I want to ensure there is outdoor livable space (porches) and there is ample storage in the small home. So it is unique, family friendly, and functional. Home ownership is going down for the low-lower middle class because 3BR 2BAs are the go-to mode builds. However, for those looking to start their homeowner journey, the inventory is quite low for smaller houses that are not very old and require lots of work. Quite often, the bidding goes over market value for those homes too since they are coveted by new homeowners. I want to build that inventory up in working class communities.
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Self Identified Competition
My competitors are most likely mobile, pre-fabricated/modular, and manufactured home builders. However, they offer just the house. The homes often lack enough storage, and can sometimes feel a bit boxy. Also the prices have also inflated as the models become more luxurious. The lower end models look more like trail park homes. It doesn't reflect the bones of a good long lasting home. I will be building homes on 0.15 acre lots, developing it, then building the 1BR 1BA loft home on it. I intend to do this on vacant land, building an affordable housing community near transportation to and from working class job sites. The goal is to provide starter homes for newly formed families, retirees, veterans, and those simply looking for a home away from urban living. I'm going to start with lake communities first.
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Contact Applicant
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