I'm trying to gauge interest in a crowdfunded flip program. One of the biggest barriers for most starting investors is the initial cash deposits needed. This program would require your time and votes. It is not a REIT or some kind of fund you sit on and gain interest, it would be an active partnership among contributors.
Rules:
1.) Sign a legal agreement for entry
2.) Contribute in increments of $5k to the pool - you would receive "read access" to the pooled account
3.) Provide 1-3 home deals for flipping in a consistent template/format (provided by the program)
4.) Vote on major decisions based on the number increments contributed in #2 above
5.) Receive fair share of any profit based on the number of increments contributed in #2 above
Benefits:
1.) Shared risk
2.) Minimal investment to entry
Cons:
1.) Shared reward
2.) All other financial risks associated with a flip to include total loss of investment
Let me know if you would be interested in something like this. I'm not asking for your email address or any personal information. I only am trying to gain an understanding on whether or not enough people would be interested to make it happen.
Thanks!
