All Forum Posts by: Account Closed

@Taylor L. - Thank you for that. We've been working on setting things up with existing investors folk. We'll certainly continue down that path.

@Greg Dickerson - Certainly. I've done as much as I could solo but have now formed a team. The project we're working on has a growing demand and believe we have a solid team, project(s) and presentation. Thank you for your feedback.

Good morning BiggerPockets! Happy Friday eve.

It's been a minute since I've posted anything here. Once again, I'm turning to your sage advice.

I was wondering if anyone out there has any experience in crowdfunding capital raising for multifamily developments. I've been working on my project for some time now and we're about to launch our campaign. We're really close to nailing down a property and have a couple of lenders who are ready to back us as soon as we can get our initial capital raise under our belt.

What has been your experience? What's the best way to get all out massive action from the crowd? (We do have a marketing firm handling all the social media and several members of our team have deep connections in the financial world).

Making this campaign a success is the primary focus on our agenda right now.

Thank you all for your tips and stories.

Certainly @Rachel H. The best way to stay up to date with what we're doing is subscribe to our newsletter. Stay tuned as we're about to launch our CF campaign. Could be a good way to invest in the tiny home movement, without shouldering the work yourself. We're already doing it!

@Heidi McCoy - Good morning Heidi! We are moving right along! We have several jurisdictions ready to work with me and my team here at Life Size: Tiny Communities. We "primed" a handful of cities/counties on what we're attempting to do and have made an offer on a property. We've been in process now of launching our crowdfund campaign and looking for people to help fill that and potentially some additional Limited Partners.

Personally, I've been working on this project for a while now as I refuse to take any shortcuts. I'd be curious to know where you stand on everything. Let's chat.

@Rick Pozos - You're completely correct. The two primary differences are the quality of construction and the architecture. They connect to utility in similar manners and can be tied down to a foundation in a similar fashion. However, from a regulatory standpoint, tiny houses are kind of a bastardized hybrid and retain their mobility, vs. a mobile home which is typically only mobile once. The methodology of how we'd install the infrastructure is the same as an RV or mobile home park. Which is why it boggles my mind why we have such a hard time getting this done.

Buying an existing mobile home park is certainly on the radar. However, not many of them are being sold. Plus, it would take a long time to phase out the old mobile homes and bring in tiny houses, at least not without evicting the people already living there. I do not want to displace people just so I can build a tiny house community.

Where I'm at right now is just needing the money to pull everything together. I have cities/counties ready to work with me. One of which has even said "Please develop this in our jurisdiction!" I'm in process of putting together a private placement offering in order to raise a portion of what we need so we can get something under contract.

@Joe Stubbe - There have been some tiny houses communities that have popped over over the country. None of which, to my knowledge, are moving in a scalable direction like I plan on doing. Most of them follow the trailer park model (where they're crammed into a small area. Similar, yes. Exactly like what I'm trying to do, no.

Good morning BiggerPockets folk!

I was hoping to spur some [more] conversation about syndication on tiny house community development. I've been working on this project for some time now, getting things in order as far as jurisdictions on board with the concept (tiny houses on wheels) and moving toward normalization of these structures as single family dwelling units. During this pandemic, I've completed some considerable renovations of my company's internal processes. We have a functional pro forma, a brand new website (lifesizetc.com), formed an executive management team and starting to get signed letters of intent to participate in the first community. 

Where I'm struggling is getting the capital. Even if I could raise enough to just purchase the land, I believe I have other options already in place to help cover the the actual development costs.

Honestly, NOW is truly a perfect time to get something like this rolling. People are and will be continuing to look for ways to recession proof their lives and I believe I have a solution to get people in tiny houses and build equity.

I'm just at a total loss on where and how to find the money we need to pull everything together. I'd welcome suggestion.

With humble gratitude,

Joe

@Colby Fryar - Totally get the interest. Which is why I've been working to get this done. The latest turn of events will drive even MORE people to tiny houses. The biggest issue is the ignorance of cities/counties in what tiny houses are and what they are not. My aim is to create a turn-key system that any city or county will be calling to have one(or three) built in their town. The concept isn't "new". But it's new enough that causes hesitation.

I've done significant work on local jurisdictions and, in fact, my SVP of Govt Affairs was the first official I approached. When she didn't get re-elected, I contracted her and now in negotiations in bringing her on the team. I'm so close to pulling everything together, I can taste it! It just comes down to having an investor(s) with a few million bucks who sees the potential here.

The tiny homes industry is expected to grow! We totally need to raise the capital to get the pilot community going! I'm open to suggestion on who to talk to and where to look?!

https://www.businesswire.com/news/home/20200611005548/en/Tiny-Homes-Market-2020-2024-Product-Innovation-Leading?fbclid=IwAR2CUgi92Y4Hgr4s27bjag09LyLQ_YL-9vig_DRJMnWWe6oQ6fcntriilp8

@Bethany Virago - I totally get it! Can't wait for my tiny house to be finished and I can actually start living in it! I have to find a place to put it so I can live in it until I get a community established.

My house:

https://photos.app.goo.gl/Cxc8...