Our Second Crowdfunded Deal Should Go Live Tomorrow - 20% Targeted Return For Accredited Investors

[Bryan Hancock]

I wanted to share some brief details (see the iFunding site below for full details) about our second crowdfunded deal with BP this evening.  Our plan is to have the deal go live tomorrow if we can get the video edited properly and amend a few things on the deal page.  Once the video is edited/cut properly I'll share it on BP as well.

Here is a picture of a sample rendering for the project:

We're tearing down a single family house in the heart of 78704 in Austin, TX and replacing it with a pair of condos that will be sold to retail buyers.  We went through a lot of effort to amend the CC&Rs to have the ability to pull this project off.

Below are the high-level details of the deal.  The nitty-gritty items will be contained on the project page on iFunding when the deal goes live.  This will include a detailed pro forma, diligence documents, a video giving an overview of the project, FAQs, comps, photos, team members/track record, the capacity to ask questions, a webinar, etc.  

• Land Price == $300k
• All Other Development and Project Costs (Engineering, Architecture, Demolition, Sticks/Bricks, Interest Carry, Capital Formation Costs, Etc....The Full List Will Be In The iFunding Pro Forma) == $500k
• Targeted Sales == $1.047M (Using Conservative Comps)
• Estimated Selling Costs (Including Taxes) == $74,825
• Projected Profit == $172,125 (Using Conservative Comps....iFunding pro forma will show range of comps)

Investors will receive a preferred return of 10% and 50% of the profits after a make-up return to Inner 10 Development.  The analysis is spelled out in detail in the pro forma available on iFunding.  The net-net for you the investor will be a 20.1% annualized return.

We are selling 72 shares to accredited investors at $5k/share for a target raise of $365k.  I expect for the shares to subscribe quickly so please let me know if you're interested so I can connect you with the proper folks at iFunding.  

Please email me at the address in my signature if you're interested in investing.  

[Don Konipol]

@Bryan Hancock This is a great example of a very realistic offering in terms of the return offered the passive investors.  Here an experienced player associated with an organization with a proven successful track record is offering a preferred return situation with a minimum of 50% of the profits for an investment equal to less than 50% of project cost.

Makes those offers of 10 - 15 % ownership for 100% of the money by unsophisticated 'investors' look pretty ridiculous.