Few more questions and answers for Preferred Investor Status
EAC Community,
A few more additional questions from another Investor.
1.No direct control of sub-account - - If the fund is not currently be placed with any specific deal, will I be available to do ACH withdrawals or write a check on my own? If not, what are the steps?
The subaccount funds are no different than the funds you wire into our mother account when you currently invest with us. It is not a checking account that you can write a check against and make any withdrawals at any ATM even if the funds are not invested in any specific deal. However, if you want your funds returned to you even if it is invested in a deal, we will wire the funds back to you as soon as we have cashed you out. As previously stated in another document to you, this can take 24 hours to 4 weeks depending on where the cash out funds are coming from. Please refer to 3rd Investor Email.
2.Is this subaccount an individual checking account with its own account number?
It is not a checking account for you. It is within a mother account for EAC which is a checking account for EAC. It does have its own account number which we will use to wire funds back and forth between EAC and the Preferred Investor.
3.When the fund is not currently placed with any specific deal, how much interest is earning in this subaccount?
It is our desire that your fund does not sit idle in your subaccount. We will have plenty of deals that will bear 8 to15%+ returns that you can park your money into until a deal that will pay out greater than 20% return is made available to you. The beauty of the new setup is that your money will always be working. However, if there are no deals for you to invest in or if you choose not to invest in any deals presented to you, we have to by law pay you interest according to the IRS Ruling on Applicable Federal Rates which as of December 2014 is 0.34%.* This is truly unattractive return and we would never expect or want you to have your funds sitting idle. You can have the funds wired back to you at any time so that you can invest in others opportunities. We will always cover all wiring costs in any direction when it involves EAC.
You should take advantage of all that we are offering our Preferred Investor by opening a subaccount. Initially, you do not even have to fund it. And you may want to place a small sum and see what deals are brought to you. If you decide to fund a deal, you are more than welcome to wire more funds into the subaccount to fully fund the deal or a portion of the deal you want to fund.
4.Once I decide which deal to fund, is that an internal transfer between EAC and the subaccount? Who is doing the transfer? What fee is associated?
Once you decide on a deal to fund and only with your permission, EAC will then make an internal transfer from your subaccount to our mother account. Because it is an internal transfer, this is instantaneous and with no fee incurred. This is where a subaccount will be of greatest value to us and ultimately to you as an Investor. We can move very quickly which is a strength that is desired by many but possessed by only a few in the world of real estate investing. We will find and fund better and more deals with this kind of power. With such a Community of Investors, deals will actually come find us. We are already seeing that happen to our company.
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