Q: WHAT IS THE MINIMUM INVESTMENT?
Q: WHO CAN INVEST?
A: Our goal is to make this opportunity as accessible as possible while satisfying the SEC- and the State- regulators. There are geographic and financial qualifications.
First, the geographic: Individuals and entities that reside in CA, OR, WA, or DC can invest in the Fair-Haired Dumbbell. Soon, we will also accept investment from MA and VA, pending a final certificate from those respective state regulators.
Now, the financial qualifications. Individuals must have:
- A minimum household annual gross income of $70,000 and a minimum household net worth of $70,000 (exclusive of automobile, home and home furnishings),
- OR -
- A minimum household net worth of $250,000 (exclusive of automobile, home and home furnishings).
Q: WHY ARE THERE THOSE FINANCIAL QUALIFICATIONS IN PLACE?
A: These qualifications were put in place by state regulators for your protection as an investor. The parameter is arbitrary, but the intent behind it is based on this concept that as unaccredited investors, the SEC and States want to mitigate the percentage of your total income and net worth you plug into this investment opportunity. Their assumption is that unaccredited investors are less experienced with investing and may not fully comprehend the inherent risk associated with it.
Q: I INVESTED! WHEN DO I START EARNING A RETURN ON MY INVESTMENT?
A: You'll start earning a return on your investment when we pull the funds from the escrow account.
Q: The Term of the Investment is 3-5 years. WHY ISN't the term more concrete, like "3 years" or "5 years"?
A: The term is flexible to account for unknowns in the development process. The event that will allow us to close out your investment is likely a refinance of the property or the introduction of a new class of investors, and it behooves us to maintain leeway in deciding when to execute that.
Q: CAn i invest using my ira?
A: Technically, yes. However, it is up to the potential investor to consult with their retirement fund custodian to authorize the investment. Companies like Equity Institutional and TD Ameritrade allow alternative investments to be made with retirement funds. Alternatively, investors can set up a self-directed IRA so they can make this decision themselves. Some examples of these self-directed IRAs are Kingdom, Pensco, Millennium, and IRA Trust Services.
Q: WHAT IS THE STATUS OF THE FAIR-HAIRED DUMBBELL?
A: We will break ground on the Fair-Haired Dumbbell in May 2016. It will take a little less than a year to build. We are 44% preleased with several more tenants in negotiation. In other words, this is happening! And fast.
Q: WHAT KIND OF TENANTS DO YOU HAVE SO FAR?
A: Our office tenants are 5-15 person creative companies that work in fields like architecture, branding, and user experience. Our retail tenants are folks with a history with Guerrilla Development.
Q: Will the building really look like that?
A: The Fair-Haired Dumbbell is as crazy as it looks, and as cool as it sounds. The exterior will have handpainted, original artwork-on-stucco. With the help of the Regional Arts and Culture Council (RACC), Guerrilla is in the process of commissioning the artist who will execute the work. The five finalists are well-known and hail from all over the world. We'll be providing regular updates, so stay tuned!
THE INVESTOR PORTAL
Q: WHy do i have to give my contact information when i look at the deal?
A: Truth be told, its a way for us to know a little more about who is interested in this deal. This effort is an ambitious experiment and we're learning as much as we can about the public's appetite for crowdinvesting for real estate. When you sign up, you also create a profile in our investor portal. Every part of this deal lives there - from exploring it on the deal page to the nuts-and-bolts of investing to the way you receive notifications and distributions from us. We promise never to use your private information for any other reason than communicating with you about this investment and future investment opportunities at Guerrilla Development. If you ever change your mind and want out, no problem. Let us know and we'd be happy to remove you.