Hampton University graduates Calvin L. Butts Jr. and Carrington M. Carter are looking to make a change in the real estate, travel and hospitality industries. Butts Jr. and Carter have formed East Chop Capital to pool “the resources of many, to accomplish much more than individuals can on their own.” Through their work as real estate developers, they have helped minority investors enter the $170 billion vacation rental market.
“Our firm was created to help accredited investors build wealth and gain exposure to private investments that they may not have access to,” Butts Jr. said.
“East Chop Capital’s first fund exposes our investors to the travel and hospitality industry via luxury vacation rental homes, by owning and operating homes in places like Martha’s Vineyard, Hilton Head, Gatlinburg, Orlando, and several other markets that we will expand to in 2021.”
Over time, East Chop Capital has had success in their venture, but breaking into the industry has proved to be as difficult as one would imagine. Not to mention, Butts Jr. and Carter have noted just how difficult it is for other marginalized groups to do the same.
“It should have been easier to raise $4 million considering we have a 6+ year proven track record, strong network, we’re investing in a thriving industry with significant tailwinds behind us," Butts Jr. and Carter said.
As the company heads into the new year, they are looking to blaze a trail for others that are following behind them. Their goal this year is simple.
“Building wealth for our investors, educating them on new private investment opportunities, disrupting the traditional private equity model, and having the,” Butts Jr. and Carter said.
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