Elevate Money X Boxabl’s “Future of Housing Fund” is now live and open for investment.
The Partnership
Elevate Money and Boxabl have joined forces to launch a revolutionary new real estate investment fund dedicated to the future of housing.
The partnership agreement gives Elevate Money the first right to purchase a minimum 10% of Boxabl's monthly “Casita” housing unit production, which currently has a waitlist of over 150,000.
The Problem
The US is facing a housing affordability crisis that stems from rising costs and a shortfall of supply. Americans now spend over 40% of their income on housing, the most in history.
According to The Urban Land Institute, "Longstanding research holds that the average household should spend no more than 30 percent of its income on total occupancy costs to maintain affordability. Anything above that threshold indicates economic distress."
The Solution
Elevate Money X Boxabl’s “Future of Housing Fund” (FOHF) is a for-purpose real estate investment vehicle that intends to revolutionize the housing industry and make affordable and sustainable housing a reality for everyone.
FOHF intends to develop “Modular Home Communities” using Boxabl’s Casita units. It is expected that our Casita customers will (a) rent the land on which their Casita units sit and either (b) rent or (c) buy the Casita units that they live in.
The Opportunity
While there are no return guarantees on this or any investment, we believe the FOHF’s Modular Home strategy resembles that of traditional Manufactured Homes.
According to Green Street’s “Commercial Property Price Index” (CPPI) published March 6, 2023, Manufactured Home Communities were the best-performing real estate asset class over the last 7 years, more than doubling in value. This asset class boasts the highest forecasted Net Operating Income (NOI) growth rate and yet the lowest forecasted new supply.
Manufactured Home Communities have traditionally targeted exit-level housing users (older people leaving the workforce); our Modular Home Communities will target entry-level housing users (younger people entering the workforce), which may present an even bigger opportunity.
For more on this topic, read our blog: The Case for Modular Home Communities.
The Investment
The Future of Housing Fund is a first-of-its-kind investment vehicle focusing on addressing the acute housing problem by developing Modular Home Communities.
FOHF is now live and open to all investors directly on the Elevate Money website and app.
The minimum investment is $1,000. If you are already an Elevate Money customer, the minimum will be $500. No investor accreditation will be required.
Join the revolution with Elevate Money X Boxabl.
Invest in our Future of Housing Fund.