Financial
Company Documents
Offering Memo
1. What is the purpose of this investment offering?
This offering is for equity investment in an 8-unit multifamily complex and a single-family home located at 1010 Randolph Avenue, Pulaski, VA. Investors will provide capital to renovate and improve the property for rental purposes.
2. Who is the sponsor of this project?
The sponsor is Cody Journell through 1010 Randolph Avenue LLC. Cody is an experienced real estate developer with a focus on value-add multifamily properties in the New River Valley and Roanoke Valley areas.
3. What is the target capital raise?
The target capital raise is $100,000, which will be used for acquisition, renovation, and carrying costs of the property.
4. What is the projected return on investment (ROI)?
Investors are projected to achieve an equity increase of approximately 101.49% over a 5-year holding period. Quarterly distributions will be made based on the available cash flow.
5. What are the risks associated with this investment?
As with any real estate investment, there are risks including market fluctuations, potential delays in renovations, and regulatory changes. Additionally, investments made under Regulation Crowdfunding (Reg CF) are inherently risky and should only be made by investors who can afford to lose their entire investment.
6. How long is the investment term?
The investment term is 5 years, with options to sell or refinance in years 5, 7, and 10 based on market conditions.
7. How will the funds raised be used?
The funds will be used for acquisition costs, construction and renovation expenses, financing and carrying costs, and closing costs. A portion is also set aside for contingencies.
8. What is the exit strategy for this investment?
The property will be held for 5 years, with potential sales or refinancing options evaluated at years 5, 7, and 10. Investors will receive capital and profits upon exit.
9. Is this investment open to both accredited and non-accredited investors?
Yes, this offering is available to both accredited and non-accredited investors under Regulation Crowdfunding (Reg CF).
10. How do I invest in this project?
You can invest by signing a subscription agreement through the funding portal and submitting your investment. Funds will be held in escrow until the offering reaches its target and closes.
11. What are the legal and regulatory considerations for this investment?
This offering is conducted under Regulation Crowdfunding (Reg CF) and must comply with SEC regulations. Investors should be aware of potential liquidity constraints and the one-year holding period required for their securities.
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WHEN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING. THIS INCLUDES ANALYZING THE MERITS AND RISKS INVOLVED WITH INVESTING IN THE OFFERING. INVESTMENTS ON POCKET PROPERTIES APP CORP ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK. THIS RISK INCLUDES THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.
Unless otherwise stated, all securities-related activity is conducted by Pocket Properties App Corp, a funding portal registered here with the US Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA). Pocket Properties App Corp is not a registered broker-dealer and all activity involving escrow/holding funds is performed by Enterprise Bank and Trust, an escrow agent registered with the U.S. Security and Exchange Commission. Pocket Properties App Corp is compensated with an up-front fee and a percentage of funds raised in each offering. Fees may vary between offerings and investors should review the Form C linked on each offering page for Pocket Properties App Corp’s specific compensation for each offering.
Regulation Crowdfunding offerings (JOBS Act Title III), which are offered to both accredited and non-accredited investors, are made through Pocket Properties App Corp. Although these offerings are open to the general public, all securities offered on Pocket Properties App Corp have not been recommended or approved by any federal or state securities commission or regulatory authority. Pocket Properties App Corp does not provide any investment advice and does not provide any legal or tax advice with respect to any securities. All securities listed on The Platform are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. Pocket Properties App Corp does not verify the adequacy, accuracy, or completeness of any information provided by the issuer. Neither Pocket Properties App Corp, nor any of its officers, directors, agents and employees makes any warranty, expressed or implied, of any kind whatsoever related to the adequacy, accuracy, or completeness of any information on this website or the use of information on this website.
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