My story
A Personal Mission to Create Change
I’m Jude Ramcharitar, and Hive365 LLC is more than a business—it’s my passion project. Growing up, I saw the struggles many families faced when affordable housing options were out of reach. Inspired by those experiences, I made it my mission to create solutions that truly make a difference. Hive365 LLC started as an idea and grew into a tangible way to address the housing crisis, providing not just homes, but hope. This project isn’t just about properties—it’s about people, and I’m proud to share this journey with you.
The why
The Why
Housing affordability is a growing crisis affecting millions of individuals. Single earners making $25,000–$40,000 annually often struggle to find safe, affordable housing, leaving them financially stressed and unable to save for their futures. Recognizing this challenge, I created Hive365 LLC to provide innovative shared housing solutions. This project not only addresses a critical social issue but also reflects my passion for creating sustainable, impactful solutions to real-world problems.
My Solution
Hive365 LLC bridges the gap in affordable housing by acquiring and preparing residential properties for shared living. Each property features private rooms, shared common areas, and all-inclusive pricing to make living both affordable and comfortable. By partnering with PadSplit.com, tenant screening and placement are seamlessly managed, ensuring the properties are occupied quickly and efficiently. This streamlined process reduces costs and maximizes impact for tenants.
Project Milestones
- Initial Research and Planning: Identified the target demographic and developed the shared housing model.
- Property Acquisition: Secured the first property for the project.
- Renovation and Preparation: Completed necessary updates to create a welcoming shared living space.
- Tenant Onboarding: Successfully onboarded five tenants through PadSplit.com.
- Community Engagement: Educated over 50 individuals about the housing crisis and how shared living can be a solution.
Project Budget
The project was executed with a budget of $180,000, covering property acquisition, renovations, and operational costs. Key expenses included:
- Property Acquisition: $160,000
- Renovations: $15,000
- Tenant Onboarding and Management: $5,000
This transparent approach ensured every dollar contributed to creating a tangible impact.
Team Management
Teamwork was central to this project. My mentor, Dawood Shafique, provided invaluable guidance on real estate acquisitions. My parents supported financially, while I retained full control over operations. PadSplit.com handled tenant screening and placement. Clear communication, regular updates, and role delegation ensured the team operated efficiently, overcoming hurdles like renovation delays and scheduling conflicts.
Lessons Learned
This project taught me the importance of adaptability and contingency planning. Renovation delays highlighted the need for buffer time, and effective communication proved essential in maintaining team alignment. I also learned to balance project management with personal responsibilities, refining my leadership and problem-solving skills. If I could start over, I’d integrate digital tools earlier to streamline operations and improve accountability.
Project Impact
The impact of Hive365 LLC extends far beyond numbers. Five tenants now enjoy affordable, safe housing, and over 20 family members benefit indirectly. Tenant feedback has been overwhelmingly positive, with many expressing relief at being able to save for their goals. This project not only improved lives but also demonstrated how innovative solutions can address pressing social challenges.