Our Crowdfunding Network Is Growing Part 61

This week we officially signed the agreements for Inner 10 Capital's founder's LLC.  We also signed Inner 10 Capital's LLC documents and set up the bank account.  We're officially splitting the company out from Inner 10 Development and bringing in 2 new partners.  Once we get things more formalized we'll be bringing in other new partners as well, many of which have been helping us with the business for over 6 months now.

We secured a new lease for space on 5th Street in Austin and we moved offices today.  We should be getting new signage, etc. soon.

Our 2nd crowdfunded deal on our new site hit a roadblock this week.  We discovered the property is in a floodplain during our diligence period so I amended the contract with a contingency allowing for the project to pass through Watershed before our earnest money goes hard.  We'll likely get clarity on this next week sometime, but it could stall this raise a bit.  The technology should be ready by next week for generation next.  Some of our developers have been sick which has stalled progress.  

We are working with a local set of partners on bringing some apartment complexes to the market to raise money for on reposition projects.  This group has been operating for over 15 years and has a successful track record of delivering good returns for investors.  We'll be reviewing their offering documents soon.  The Daphne deal we were hoping would be our first third party deal didn't make sense to do after reviewing it more because the developer has chewed up profits holding it with hard money.  I hope we can do one with them in the future.