I put this together to address some questions, comments and concerns that have been raised. I dont pretend to be an expert in putting organizations together, but I am great at putting deals together that make money. I will be calling on my network to help make this a reality. Anyone who knows me that it always starts with an idea and next thing it is a reality. I urge you to ask any questions that you feel need to be asked on this thread so that it may be included in the framework of the organization. I ask if at any point you are no longer interested in being a part of this, you remove yourself from the group. 1. When do we start? I have already started. In the next two weeks I will be getting all the logistical stuff (forming entity, getting Joint Venture agreement, figuring out how things will work) together. 2. Can I have more than 1%? No. The whole purpose is that we all are equal in this and we all contribute equally. If someone were to contribute more financially, they would not be able to necessarily be able to contribute more time,energy or effort. 3. Will we have a general meeting to begin? I will hold an initial investor meeting on 1/18/15 where we can all meet, address questions,concerns and receive general information. 4. When is money due? Money will be due one week after general meeting. That will give time to ask questions, think about if it is for you and so on. 5. (Courtesy of Jess Jessmuzic Harrell ) Does the plan for this group involve creating group bylaws? There will be bylaws, rules, regulations and an advisory board put in place. I have no intention of taking investment and becoming a dictator with no system of checks and balances. The rules will also manage expectations and let members know what the do’s and dont’s are. 6. (Courtesy of Dee Rainer) At what point are you closing the group in order to have a formal meeting? The group will be closed once we reach 100 members. I am member number 00. You all will will be assigned a 2 digit number (01-99) once you officially become a member of group by signing and depositing initial investment. 7. Will we have meetings? Most of information will be distributed via the web but we will meet monthly to discuss business, network and engage in the communal part of this group. Aside from investing, part of the goal is to patronize each other. That will be reinforced by these meetings. 8. What will be first investment? I have already started looking at Mixed Use buildings. The plan is to acquire the mixed use building and rent it out as Project 1 and to develop a business in the commercial space as another Project. 9. What is exit strategy? This is a long term play with goal of amassing large number of properties and businesses. A portion of profits will be allocated towards recouping initial investment while the rest will be invested back into business. 10. Can I invite other people in? I urge you to invite likeminded people that can be a benefit to the organization to be involved. If we only work from my network, we are limiting the growth potential. 11. Can I partner up with someone else to make up the unit? I made the initial investment fairly affordable so that there would not be a need for people to “pool’ within the pool. Every unit (1%) will be assigned to one individual.
Posted on: Sun, 04 Jan 2015 18:31:09 +0000
Trending Topics
Recently Viewed Topics
© 2015