We are committed to breaking down barriers to entry to real estate investing and with that comes writing many of our own rules. Here are some that we know to be true so far:
Rule #1: Lower the barrier to entry to $1.
Some people think our $1 minimum investment amount is a gimmick because you can’t really make much money off of a one-dollar investment. But to us, it’s no gimmick. Who are we to say that someone without a certain amount of money cannot invest in real estate? The entire point of what we’re doing is to enable anyone, and we mean anyone, to invest in real estate, regardless of their income, age or other conflicts.
Rule #2: Cap the maximum investment amount at $1,500.
In addition to enabling anyone to invest in real estate, we want to enable as many people as possible to invest in our properties. This is why we cap the maximum investment amount at $1,500. Without the maximum, it would be possible for a few people to take down the entire allotment, leaving nothing for everyone else. Investment opportunities for people with large amounts of money already exist and we’re not in the business of helping the rich get richer. If one of our members wants to invest more than $1,500, they can invest in multiple properties.
Rule #3: Extend the rescission period from the required 2 days to 7 days.
We operate under the National Instrument 45-106F. Under this instrument, we are required to offer a 2-day cancellation right (aka allow our members to cancel their agreement to purchase securities). BUT we want to ensure that all of our members are 100% comfortable with their investment so we extend this period to 7 days. After all, one of our core values is win-win or no deal, and we stand by it!
These are just 3 of the rules we’ve written so far. We know that we will write many more (and break many more!) as we continue to listen to our members and build a platform that we are all excited about.