Updated: Nov 12, 2021
What is it?
This program is for anyone who wants to lend on a short-term real estate project at 12% APR, but has less than $50,000. Because it is always challenging to place smaller amounts on short-term real state projects that typically require hundreds of thousands of dollars, the goal of this program is to help anyone make money regardless of how much money you have. Making money in real estate has historically been only for the rich. We aim to change that.
The best way for us to meet this goal is to "crowd-fund" or combine all “less than 50k” funds into one really good project. Each person will still get their own signed Promissory Note guaranteeing 12% ARP. But we record a mortgage lien against the property on behalf of all. This would provide more security and a stronger lien position.
Crowd-finding is nothing new. Our business has been successfully crowd-funding on real estate projects with family and friends for years. It is amazing what people can do when they come together on a single cause.
How does it work?
The Less-than 50k program works the same as our conventional private lending where each person lends a certain amount of funds on a particular project and each person gets their own notarized Promissory Note guarantee of 12% APR for the duration of the project. Th only thing that changes is, instead of each person getting an individual mortgage lien recorded against the property, we record one lien against the property on behalf of all participants. By recording one large mortgage lien against the property, the group can get a much stronger and safer lien position.
There is no six month minimum or bank transfer reimbursement under the "Less-than 50k" program.
Currently Team Alpha ("Less-than 50k" is funding the 84-707 Kiana Pl APT 108A project. Click HERE to view this property.
The deadline for signing up is November 5th so please sign-up early.
How do I sign up for the Less-than 50k program?
Click HERE to sign up as a private lender.