The Renter Wealth Creation Fund innovatively provides renters the wealth building opportunities traditionally limited to homeowners.
Our fund's aim: turn rent into wealth for renters.

Are you an Investor?


Are you a Developer?

Partnering with us, investors can help change a system that leaves renters behind and perpetuates the wealth gap.

The challenge: Homeownership is regarded as the traditional path to personal wealth. But as mortgage rates rise and home prices soar, homeownership is out of reach for too many. Left behind are nearly half of all households without a home-based wealth creation opportunity.i Consider if you’re a renter:

  • Every dollar of rent goes to someone else.
  • You build no equity in your home. 
  • In theory, renting saves money by lowering housing costs. In reality, there are too few affordable rental options to meet demand, and skyrocketing rents are a leading cause of financial instability.

It’s no wonder that the average renter has 40x less wealth than a homeowner.ii The current system keeps sapping the individual’s wealth-building potential – depriving entire communities of upward mobility and perpetuating a racial wealth gap across generations. When over half of Black and Latino households are renters, it’s clear the system isn’t working for everyone.iii

The Renter Wealth Creation Fund is a direct response to what renters have told us they want: more cash in hand today, and the opportunity to build wealth and achieve upward mobility over the long term.
Lori Chatman, President, Capital Division, Enterprise Community Partners, Inc.
Lori Chatman headshot

The Renter Wealth Creation Fund: a practical – resident-informed – solution where renters and investors alike can benefit.

The Renter Wealth Creation Fund changes the system by applying a commonsense solution. Designed to benefit renter and investor alike, the fund rebalances the dynamic by changing how profits are distributed. Investors seek to receive a fixed percentage of returns, and renters seek to receive immediate, ongoing and longer-term benefits:

A family posing for a picture on a porch
  1. Cash Back: Every month, renters will get cash back when they pay their rent on time. Whether to grow their savings, pay down debts or gain financial flexibility, these immediate savings will be distributed through Stake,* a mobile app that allows the seamless transfer and use of these reimbursements. We believe that renters should be rewarded for contributing to a thriving community.
  2. Resident Services: Properties in which the fund invests – identified through our national network of partners – will feature services tailored to residents. Focused on promoting upward mobility and community building, these ongoing resident services will be available to everyone who lives at the property.
  3. Shared Appreciation: Long-term residents (current and former) have a chance of sharing in the appreciation of the property. Like homeowners cashing out from a sale, renters may receive a share of profits when the property is sold or refinanced. Like home equity, shared appreciation has the chance of delivering transformational income to renters without the same risk of financial loss.

Directly informed by resident input, our approach is designed to help renters gain new inroads toward upward mobility and closing the wealth gap.

*  Stake will market the rewards program to residents and administer any cash back rewards earned by providing digital access to residents.  The terms of the rewards program will vary for each property and will be determined by the property owners and Enterprise.

How the Renter Wealth Creation Fund Works*
  1. The Renter Wealth Creation Fund raises capital from philanthropic and private investors and invests this capital in properties across the country to:
    1. keep rents affordable
    2. provide resident services
  2. If the property thrives and appreciates, a portion of profits (cash flow) would then be distributed to the fund, and the remaining portion would be left with the property to fund a cash back rewards program for residents (distributions are not guaranteed and can be modified):
    1. Investors seek a risk-adjusted-financial return combined with a social impact of supporting upward mobility.
    2. Residents may receive monthly cash back via Stake as well as access to resident services.
  3. If residents receive cash back, residents can use the excess cash in their pockets to bring greater spending power and tax revenue to the community. As the saying goes, a rising tide lifts all boats.
  4. If the property thrives and appreciates, long-term profits are possible if and when the property is sold or refinanced.
    1. Investors seek to receive a targeted financial return of 4%.
    2. Long-term residents are expected to receive 80% of the financial upside thereafter as an additional cash-back reward.

Investors earn for keeping rents affordable, lowering utility costs and greening the community. Residents – the lifeblood of the community – earn from making their community flourish.

*There is no guarantee that the Fund will achieve its objectives. 

A woman sitting on a couch


Support the Renter Wealth Creation Fund and help create new wealth building opportunities for renters.

Socially motivated investors can disrupt a system that disadvantages renters, help close the wealth gap, and benefit from investing in new wealth-building opportunities for renters.

Impact Environment Social Governance
Creates new wealth-building opportunities while keeping rents affordable. Benchmarked utility savings can catalyze energy-efficient retrofits and reduce greenhouse gas emissions. Housing affordability and stability converge with wealth creation opportunities. Our approach is directly informed by resident input.

Stable Performance 

Affordable housing offers a unique investment alternative to other real estate investments as there is a consistent high demand for rental homes due to a chronic shortage of affordable rental homes in the country.

Every property the fund invests in meets Enterprise’s stringent due-diligence criteria and credit standards. By investing in stabilized affordable and workforce homes, the fund mitigates common real estate risks that emerge during construction or lease-up periods, such as supply chain disruptions, labor shortages or new marketing costs.


The Renter Wealth Creation Fund is a speculative and illiquid investment that could result in a complete loss of the amount invested.

Fund Management 

With a decade of fund management experience, Enterprise’s Real Estate Equity team manages over $1.5 billion in assets while having preserved and improved more than 16,000 homes. It has strong repeat investor participation and is always identifying new investor partners to work with to further its impact.

Investment Information
Interests in the Renter Wealth Creation Fund are limited to 'accredited investors' (as defined in Regulation D promulgated under the Securities Act of 1933, as amended) and 'qualified purchasers' (as defined under the Investment Company Act of 1940, as amended). The minimum investment amount is $500,000.

Invest with Us
Enterprise Equities, Inc. ("EEI"), an affiliate of Enterprise Community Investment, Inc., will act as the primary placement agent for the Renter Wealth Creation Fund. EEI is a broker-dealer registered with the U.S. Securities and Exchange Commission (“SEC”), a member of the Financial Industry Regulatory Authority (“FINRA”) and a member of the Securities Investor Protection Corporation (“SIPC”). For additional information on EEI, visit FINRA at and to learn more about SIPC, visit

A man holding a piece of paper


Partner with The Renter Wealth Creation Fund and help create new wealth building opportunities for renters.

Nonprofit and for-profit developers can disrupt a system that disadvantages renters by:

  • Preserving critically important affordable homes
  • Implementing programs that create new wealth-building opportunities for residents

See Our Term Sheet

Learn More
Risks: Private Placements and Direct Participation Programs are speculative investments and involve a high degree of risk. These risks include, but are not limited to, lack of liquidity, limited transferability, conflicts of interest, economic and real estate fluctuations based upon a number of factors, which may include changes in interest rates, laws, operating expenses, and tenant turnover. There is no guarantee that any investment in the Renter Wealth Creation Fund (the “Fund”) will be successful or the Fund will achieve its investment objectives, including, among other things, generate profits, issue distributions, obtain tax benefits or result in selling the relevant properties as intended. All investing involves risk, including potential loss of principal. Below are some of the key risks relating to an investment in the Fund. A more detailed discussion of the “risk factors” related to the “Fund” are included in the Private Placement Memorandum.

Investment Objective to Limit Investor Returns. Operating cash and capital proceeds distributions will be limited, to a certain extent, to the amount necessary to achieve initial preferred returns and fund target returns for the Fund’s members, and cash that would otherwise be distributed to the members will be used to create wealth for tenants as part of the Cash Rewards Programs and Capital Proceeds Sharing Programs. As a result, the Fund will receive lower returns than other investments members could make in private funds or other vehicles that do not have tenant wealth creation as a primary objective of such investment’s strategy. Moreover, initial preferred returns and Fund target returns may never be realized by the Fund and paid to investors. In addition, to the extent the managing member seeks investments under the Community Reinvestment Act to meet the social objectives of the Fund, the Fund may receive lower returns.

Subordination of Class B Members. Distributions to Class B Members will be subordinated to distributions to Class A Members. There can be no assurance that the Fund will be able to generate enough distributable cash to achieve the initial preferred returns or the Fund’s target return of Class B Members, and to the extent that Distributable Cash is not available to fully make such distributions to Class B Members, Class B Members may receive lower returns from the Fund than Class A Members.

Illiquidity of Interests. Investors should be aware of the long-term nature of this investment. There is not now and will not be a secondary market for interests in the Fund.

Limitations on Raising Capital. The Fund’s managing member may be restricted in raising capital from potential members of the Fund.

Investor Failure to Fund Capital Commitment. If one or more investors fail to fund their capital commitment obligations when due, the Fund’s ability to complete its investment program or otherwise to continue operations may be substantially impaired. A default by one or more investors who have made capital commitments could limit the Fund’s opportunities for investment diversification and reduce returns to the Fund.

Lack of Operating History. The Fund’s managing member and the Fund are both newly organized entities and accordingly, have no operating history upon which prospective investors can evaluate the Fund’s likely performance. Although the Fund’s management team is composed of professions with experience in acquiring and financing affordable housing projects, there can be no assurance that the performance of those activities will be reflective of the future performance of the Fund.

Reliance on Key Persons of the Fund’s management team. The ability of the Fund’s managing member to manage the Fund’s affairs currently depends on the management team of Enterprise Community Investment, Inc. There can be no assurance that the members of the management team will remain affiliated with Enterprise Community Investment, Inc. throughout the term of the Fund or otherwise be able to continue to carry on their current duties throughout such term. The inability to recruit and hire replacement or additional key personnel as needed could have a material adverse effect on the Fund’s operations.

Investment Policies and Strategies. The Fund may not meet its stated investment strategy and goals, and the Fund’s managing member has the right to vary from its strategy and policies if it determines it is in the best interests of the Fund.

Lack of Control by Investors. Investors will not have an opportunity to evaluate the investments made by the Fund or the terms of any particular investment. Investors should expect to rely solely on the ability of the Fund’s managing member to make appropriate investments for the Fund and to appropriately manage and dispose of the investments.

Limited Right to Remove the Managing Member. The power of the Fund’s members to remove the Fund’s managing member is limited.

General Economic and Other Conditions. The Fund will make investments in real estate projects and these investments may be adversely affected from time to time by such matters as changes in general economic, industrial and international conditions, changes in taxes, prices and costs, and other factors of a general nature that are beyond the control of the Fund.

Changes in the Regulatory Environment. The regulatory environment for private funds and other financial entities is evolving. Changes in law or regulations may adversely affect the value of investments held (directly or indirectly) by the Fund, may affect the ability of the Fund to pursue its investment strategies, or may restrict or prevent the Fund’s managing member or asset manager from continuing to perform services for the Fund in the manner currently contemplated.

General Risks Inherent in Real Estate Investments. The Fund will be subject to risks incident to the ownership of real estate, including: changes in general economic or local conditions; changes in tenant preferences that reduce the attractiveness of the Fund’s properties to tenants; fluctuation in occupancy rates, operating expenses and rental schedules; costs associated with the need to periodically repair, renovate and re-lease space; withdrawal of tenants and difficulty replacing tenants; tenant defaults; changes in supply or demand of competing properties in an area; changes in interest rates, zoning and other governmental regulations and availability of permanent mortgage funds that may render the sale of a property difficult or unattractive; increases in maintenance, insurance and other operating costs, including real estate taxes, associated with one or more properties, which may occur as other circumstances such as market factors and competition cause a reduction in revenues from such properties; inflation; changes in tax laws and rates; and imposition or extension of rent controls by governmental authorities.

Lack of Liquidity of Real Estate Investments. The Fund’s real estate investments will generally be highly illiquid compared to other asset classes. Given the nature of real estate investments, the Fund may be unable to realize its investment objectives by sale or other disposition at attractive prices within any given period of time, or may otherwise be unable to complete any exit strategy for its investments. In some cases the Fund may be prohibited by contract from selling investments for a period of time, or there may be contractual rights or obligations that may otherwise significantly affect price and/or liquidity. In addition, it is expected that investments will not be sold until a number of years after they are made. The types of investments held by the Fund may be such that they require a substantial length of time to liquidate.

Due Diligence and Analytic Risks of Real Estate Investments. There is generally limited publicly available information about real properties, and the Fund must therefore rely on due diligence conducted by its managing member and/or its affiliates. Should the Fund’s managing member’s and/or its affiliates’ pre-acquisition evaluation of the physical condition of each new investment fail to detect certain defects or necessary repairs, the total investment cost could be significantly higher than expected. Furthermore, should the managing member’s estimates of the costs of improving, repositioning or redeveloping an acquired property prove too low, or its estimates of the time required to achieve occupancy prove too optimistic, the profitability of the investment may be adversely affected.
Suitability: Direct participation programs are only suitable for investors who meet certain income and net worth criteria, can support the illiquid nature of the program and sustain the total loss of their investment. The Fund described herein is open to “accredited investors” (as defined in Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”) and "qualified purchasers” (as defined under the U.S. Investment Company Act of 1940, as amended) only, through an offering made in reliance on Regulation D, Rule 506(c) of the Securities Act. In purchasing securities through a 506(c) offering, we are obligated to verify any participating investor’s status as an “accredited investor” in accordance with Rule 506(c) of Regulation D.
Forward-Looking Statements: This site may contain forward-looking statements relating to the objectives, opportunities, and the future performance. Forward-looking statements may be identified by the use of such words as: “expects,” “believes,” “anticipates,” “hopes,” “plans,” “may,” “can,” “will,” “estimates,” “should,” “potential,” and other similar terms. The absence of these words does not mean a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, information concerning future strategic objectives, expected financial positions, industry or market conditions guidance, results of operations and cash flows, financing plans, business strategies and expectations, operating plans, liquidity, and success or lack of success of any particular investment strategy. All are subject to various factors that could cause actual results to differ materially from projected results. Such statements are forward-looking in nature and involve a number of known and unknown risks, uncertainties and other factors, and accordingly, actual results may differ materially from those reflected or contemplated in such forward-looking statements. Prospective investors are cautioned not to place undue reliance on any forward-looking statements. None of Enterprise Community Investment, Inc. or any of its affiliates assume any obligation to update any forward-looking statements as a result of new information, subsequent events or any other circumstances. All statements made herein speak only as of the date that they were made.
Disclaimer: The material provided in this website is for information purposes only. It does not constitute an offer to sell, a solicitation of any offer to buy, or a recommendation of any interests in the Fund or any other securities, products or services by Enterprise Community Investment, Inc., its placement agent Enterprise Equities, Inc., or any affiliate. Any such offering of the Fund’s interests will be made only in accordance with the terms and conditions set forth in the Fund’s Private Placement Memorandum, which includes the applicable risk factors, and should be read before investing. Enterprise Community Investment, Inc., Enterprise Equities, Inc. and any affiliate do not represent that the securities, products, or services discussed herein are suitable for any particular investor. Furthermore, nothing in this website is intended to provide tax, legal, or investment advice. Investors should be aware that a total loss of principal may occur.