Source: STM.co
| Number Investors | 254 |
| Raise Close Date | May 05, 2020 |
| Last Updated | April 23, 2024 |
| Current Amount Raised | $203,333USD |
| Total Raise | $208,000 USD |
| Soft Cap | $10,000 USD |
| Raise Status | Closed |
| Minimum Investment | $52 USD |
| Accepted Investors | International Non-US |
| Exemptions | RegS |
| Instrument | Equity |
| Token Issuance Info | No lock up period due to RegS |
| Price Per (RealT) | $69.53 USD |
| Token Issuance Platform | RealT |
| Secondary Marketplace | Levinswap |
| Blockchains Available On | Gnosis Chain |
| Security Type | Equity |
| Asset Class | Real Estate |
| Payment Options | USD |
Token Rights
Each token grants the token holder the right to rent payments made by the tenant in the form of USDC or XDAI (stablecoin). Expected Income: 12.94%.
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 Type: Multi Family
Full Address: 8342 Schaefer Hwy, Detroit, MI 48228
Country: USA
Source: RealT
Neighborhood: Joy - Schaefer
Construction Year: 1955
Total Units: 4 Units
Rental Type: Long-term
Rented: Fully Rented
Rent Subsidy: No
