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Business View – October 2022 / Eagle Award Luncheon
Ellis Foster started his real estate journey four years ago when he moved to Mobile from Atlanta. He started out by purchasing an investment property and realized how expensive that venture could be. He researched grant and funding options and found out the property he purchased was on the city of Mobile’s blighted properties list.
“Being on this list allowed it (the property) to qualify for funding to repair the exterior of the home and also additional funding assistance if I agreed to rent it as affordable housing,” he said. This discovery led him to start SoldbyEllisG in 2018. Foster says that through his experience as a Realtor and working with clients who participate in the down payment assistance program offered by the city of Mobile, he realized the lack of quality in affordable housing options made it difficult to find his clients a decent home to purchase.
“This sparked my interest and ignited a passion that fuels my business still today: how I can create not just affordable housing opportunities for our community members, but quality affordable housing opportunities,” he said.
After completing his first investment property, Foster is working closely with the city’s community development department to assist and get involved in any way he can to help create quality affordable housing throughout the city of Mobile. For his clients, Foster says education is the number one service he provides.
“Breaking the limiting belief of our citizens that home ownership is not a possibility for them is our mission,” said Foster. “We do this by partnering with the city of Mobile to teach a down-payment assistance class multiple times a year to educate first-time homebuyers on the home-buying process and homeownership opportunities.”
In addition to helping clients find homes, Foster says the company’s other main focus is to fight blight in Mobile.
“Properties deemed unlivable and hazardous to our community are purchased and rehabbed to breathe life back into the area and create affordable housing opportunities for our neighbors.” Foster actively serves as a mentor in the Big Brothers Big Sisters Program and previously served as a board member of the Dearborn YMCA and an emergent leader with United Way.
Click here to read the Business View – October 2022
Additional information is on the Mobile Area Chamber of Commerce’s website at mobilechamber.com, on Facebook at @MobileChamber, Instagram at @mobile-area-chamber and Twitter at @MobileChamber.