Question 1

Do you still need more investors for this campaign, Kindly contact on this email matts12224@gmail.com

Accepted Answer

Yes, we are still looking for investors. Thank you for your interest!

Question 2

Hello, I was wondering if you could talk a bit more about how you will ensure affordability. Will you be using a tool such as a community land trust to structure the properties? Are you open to talking to investors about some of the details in a call?

Accepted Answer

Hi Thomas, thank you for your interest! We can absolutely talk more about how we plan to ensure affordability. The main tool we are using in the short term is an 30 year, interest free loan from the City of Chicago that we are applying for. The 8 units in the portfolio are being rented for prices in the 50 - 70% AMI and we plan to continue to provide the affordable rents moving forward. We've already identified other potential opportunities to reduce costs to keep rents low and high quality (...

Question 3

Hello, could you go into more detail about the tenant getting into the equity of the property with each payment? Is the portion that is going to the property additional money/payment after the entire rent is paid in full? With the increase of the tenant's portion in the proper...

Accepted Answer

Hi Miguel, thank you for the great question! We see this element as a big opportunity to increase tenants' rights and ownership in the property that they live in. The short answer is that we think the equity for the tenants should be baked into their monthly rent, since each monthly payment we make to the mortgage includes principal (i.e., the equity), and interest (i.e., the cost of the loan). While tenants may not have full ownership of the buildings under this model, they will be earning e...

Question 4

Hi all, great speaking with you. I was interested in hearing how long you expect people to keep equity? Would this potentially be for 30 years sort of thing? Or planning a sale/equity buyback at some point, maybe where tenants take on the portion of equity held by us investors?

Accepted Answer

Thank you for the call! As of now we do not have a timeline other than preserving the affordability of the buildings which is 30 years based on the loan we have. We are interested in the potential to sell the buildings to the current tenants, and in that case all investors would receive distributions from that sale.

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Preserve housing affordability and make the landlord/tenant model obsolete

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