Tuesday, April 23, 2024

Kelly Stumphauzer, Co-Founder of The Prosper Fund Shares News About New Real Estate Fund for  Cleveland, Named the #2 Best Market in the USA

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As Zillow has just announced Cleveland, Ohio, as the #2 best market in the USA, interested investors are encouraged to seek out The Prosper Fund and their long-established expertise in Cleveland for securing off-market deals, their deep industry relationships and forward roadmap. 

The Prosper Fund, co-founded by Kelly Stumphauzer and Jordan Ruben, is a newly opened real estate investment fund focused on the Greater Metropolitan Cleveland area, currently seeing a massive influx of tech and med-tech investments. 

Stumphauzer and Ruben have announced their new fund to leverage both their time-tested experience in identifying and acquiring properties in this hot market and the upsurge in thel ocal market. Investors who are interested in real estate opportunities are encouraged to contact them directly. 

Cleveland is making real estate waves for its stable and swiftly growing young professional population, attracted by the technology and medical-technology sectors, as well as for its uniquely affordable housing options. 

The Prosper Fund is offering this timely investment opportunity for a highly curated portfolio in both single-family and multi-family properties, strategically located near what is known as the booming “health-tech corridor”. 

Both Stumphauzer and Ruben will deploy their decade-long, in-depth knowledge of the local real estate market and its participants (officials, builders, suppliers, etc.) to provide investors participation in properties with the greatest upside potential. The co-founders are both seasoned professionals who work within the realm of property identification, acquisition, financing, construction, leasing, sales, management and financial dynamics. Together, they work to ensure that The Prosper Fund offers optimal strategies and potential to interested investors hoping to benefit from the growing Cleveland markets.

“Now is the time,” emphasized Stumphauzer, because Cleveland is beginning to attract more attention from new investors, Zillow recently naming it the #2 best place to invest in real estate in the United States. 

“Outside money is just waking up to the outsized opportunity in Cleveland, although they will take years to learn this city the way we do, literally building-by-building. Our goal is to continue delivering consistent returns to our investors, targeting a double digit IRR,” shares Stumphauzer. 

“As of right now, the fund’s projected acquisition schedule includes deploying $25 million of equity and $25 million of debt, with a focus on assets that can generate cash returns and provide opportunities for development turnaround or rehab. We have successfully managed a portfolio of over 1,000 properties in various stages of renovation and stabilization, with an estimated 92% occupancy rate in more than 985 units. So we are confident both in our block-by-block knowledge of this city, as well as our ability to continue to identify and acquire the best possible properties. ”

With the Prosper Fund now open to investors, Stumphauzer and Ruben can be contacted so that new investors can learn detailed insights into the Cleveland real estate market, the enormous growth potential in the health-tech corridor, and specifically, the list of benefits of investing with The Prosper Fund. 

“At Prosper, we believe that success in entrepreneurship is the art of recognizing opportunities, taking calculated risks, and continually adapting to the dynamic business landscape,” says Stumphauzer. “It’s about having a vision and the determination to turn that vision into tangible reality, even in the face of challenges. And true success,” she continued, “is not merely measured by financial gains, but by the positive impact we create in the lives of our investors, partners, and the communities we serve. The Prosper team and I are committed to continue optimizing the stability and growth of the Cleveland markets, improving properties and helping to create a city attractive to new professionals and long-time locals alike.”

To learn more about The Prosper Fund and Co-Founders Kelly Stumphauzer and Jordan Ruben, check out their website, or contact:

Kelly Stumpauzer & Jordan Ruben, The Prosper Fund

invest@theprosperfund.com

(216) 677-4245

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