| Number Investors | 254 |
| Raise Close Date | May 05, 2020 |
| Last Updated | May 26, 2021 |
| Current Amount Raised | $203,333USD |
| Total Raise | $203,333 USD |
| Soft Cap | $10,000 USD |
| Raise Status | Open since Closed |
| Minimum Investment | $203,333 USD |
| Accepted Investors | Tba |
| Security Type | Dividend |
| Exemptions | Reg S and Reg D |
| Instrument | Equity and Dividends |
| Price Per (RealT) | $55.2 USD |
| Token Issuance Platform | RealT |
| Token Protocol | ERC-20 |
| Token Issuance Info | RealT |
| Payment Options |
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Token Rights
Each token grants the token holder the right to rent payments made by the tenant in the form of DAI (stablecoin)
Three of Schaefer’s four apartments are Section 8, and the fourth has a long-time tenant that pays more often than not. When the tenant is unable to pay rent, the property management company hires him to take care of maintenance work on the quadruplex, like cutting the grass, taking care of the common areas for two weeks or a full month, and fixing any fixable items to the other tenants’ satisfaction. This has been an advantageous compromise that has resulted in a stable arrangement for years. The property manager then credits the tenant’s account with the money earned and applies it toward his rental payment, which is then sent to the landlord. This is fine in a small multi-family like a quadruplex. So far, even if this has created some irregularities, rent has always been paid by month’s end.
Property Highlights
Expected Yield: 12.78%
Rent per Token: $6.49 / year
Token Price: $50.83
Total Tokens: 4,000
Property Type: Multi Family
Neighborhood: Joy - Schaefer
Square Feet: 3,230
Rented?: Fully Rented
Financials
Gross Rent / year: $36,720.00
Gross Rent / month: $3,060.00
Monthly Costs: $895.28
Net Rent / month: $2,164.72
Net Rent / year: $25,976.64
Total Investment: $203,333.33
Expected Yield: 12.78%
