All right nice….. how’s everybody doing?
Shane cook my home group I’m out here getting started on project #3 for PhixNPhlip.
We’re starting off with we had a city tag so they got out here and cleared the weeds. This is an acre property so there’s a lot to cover but it’s in Chandler and really close to the 60 and so it’s about as close as you can get in on us 60 with an acre in the Chandler Mesa area and still be you know really close to the us 60 downtown area I’m out here I had project #3 to drop in a salt cure on the property, If you were paying attention we put one of those on our Sells Drive property as well.
It’s a Feng Shui thing that we’re working on and so far seems to be you know working well. Things seems to be aligning well I feel like we are in the flow as things might go.
like I said this is an acre property for project #3 but before we get to project #3 we only have a few more days left to invest in project #2 Earll Drive. We should be submitting the plans to the city here pretty soon on Earll Drive and getting that going on the renovation and back on the market here before the end of the year. Take advantage of a very good residential market right now hopefully that will continue to take hold through the end of the year with low interest rate and low inventories and reasonable. Again Earll Drive we’ve got about three more days to get invested in our crowdfunding project on Earll Drive. You can look up the details here on Facebook or on our website at PhixNPhlip.com.
We had a winner in our sweepstakes at Earll, Louie was our winner so Jamie is working with Louie to get that put together.
Sorry to everybody else who entered in was not a winner but don’t worry we will hopefully be having another one of those on project #3 is the magic number today project number three is coming up soon. There are only three more days to invest in Earll so if you are one of those folks who’ve been watching us and wanting to get involved now’s the time on Earll. You’ve got three more days before we close that one up and then
move on to project #3 probably later this month early next month.
If you’re an Arizona resident, you qualify to invest anywhere from 1K to 10K dollars.
In Earll Drive crowdfunding project it’s an equity crowdfunding project, so what does that mean? Well it means you don’t own an interest in a deed instrument, you own an interest in that property actually an interest in a particular security instrument that that security securitized document. You know I butchered all that so let’s go back on that. So you have an investor in the crowdfunding project which is a state registered security generally set up by the sponsor and portioned on the property. You have an interest in the property in project to that particular interest will get you a 6% preferred return before anybody else is paid out of profit. You will be considered one of the expense of the project if the project makes any money at all you’ll get a 6% preferred return to the investor. Then the sponsor that an Earll that would be Better Neighborhoods and myself and we take out the 45K. I’ll see you on this one I don’t know check the details we take out our sponsor profit I think on this one again I don’t remember sure I got three or four going on so check the sponsor profit. First thing comes out is the preferred interest to the investors then the sponsor participation and then we split it 60/40. Beyond that so that’s where you get your equity bump and preferably end up in a 10 to 18 percent annualized return on your investment. All the actual details of that in much better form are on the website and trickled here on Facebook. Check those out so then project number 3 I’m walking around now and I’m not going to show you very much yet because we’re really not supposed to be promoting it and you can’t really raise any funds for it. But I told you before it’s in Chandler the famous p8b if you buy foreclosed or distressed properties even look at properties in the summertime. Here in Arizona you’ve probably heard that drive me crazy.
Well we’re gonna take this property and make it into a actual 4-bedroom 2 bath.
I think or but no affair bedroom three bath instead of a pieced together while this is currently they went undercover and they did a garage conversion to a master bath that is horrible and so that’s the undone it wasn’t permitted probably. Not ever see anything it’s dark in here but actually some… listen oh yeah oh yeah that’s in the master bath still oh gotta love it gotta love it so like I said number three should be coming down we’ll shoot pretty soon and then update on sells Drive investment #1. We’re cruising along on that happening in MLS. If you know some way maybe interested in the Arcadia light area with a four bedroom two in three bath. Four-bedroom three-bath one car garage I think it’s coming in around 2300 square feet you also double check the MLS listing.
That one’s at 3433 East Sells Drive I believe if things are going well we will be having the framing up this week.
I haven’t been out there yet but the framing should be going up this week and the truss guys should have been out there. So those should be under construction and headed out to the property here pretty soon. So like I said we’re all struck Earll Drive Earll has got three more days left in the investment phase. If you want to get invested in Earll, go check out the website PhixNPhlip.com. Find the Earll project click on the invest now button. Go to the third party escrow system and get started on your investment and if you’re looking for project number three it’s still coming a little ways down the road and then project number one is well underway. I don’t really have a project for until right now. Have a couple of options but nothing that we’ve identified for a project number four. So at this time you want to get in project number two or number three and we’re not sure when
number four will or you know when it’ll come along. So take a look at the projects let us know if you have any questions. Send us some messages look out for the next sweepstakes. Congratulations to Louie I don’t think I forgot anything today they fun did we’ll check in with you again take it easy Shane Cook My Home Group PhixNPhlip.com.
If you’re ready to invest simply go to: PhixNPhlip.com, choose your project, select the INVEST NOW button and we will connect you with our third part escrow service.
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