Topic: [Bitfunder] IPO - HomeRemodeling (Official Investor Forum) (Read 1420 times)
Profit statements can be posted on Home Remodelings site soon, along with a few bank statements. I've been verified by bitfunder. If you would like a picture of me at the office or something that can be done?
Someone has to ask it.
Any proof of the existence and profits of the existing company?
Any proof of the existence and profits of the existing company?
For this reason, is why Home Remodeling is ran through Real Homes Remodeling. Any over budget occurrences will be covered by Real Homes, this will ensure everything runs smoothly.
If you're investing ~$50k per property, why is your profit margin so low? How do you hedge against major problems, i.e. mold, lead paint, septic/water issues? I've done a few re-habs, and costs can easily blow past your estimates, which could prove problematic given your margins.
Are you selling to owner/occupants, or wholesalers?
Are you selling to owner/occupants, or wholesalers?
It's the metro-Detroit area, which include some of the wealthiest neighborhoods in the entire state, and Midwest. Not Detroit City. Never done a house in Detroit city. All home's are in areas with good schools. My profits for myself ranged from 2-5k per home. 10k of profits from every house was used for growth of Real Homes. My goal is to have growth before personal profit.
OMG anywhere but that liberal disaster area. People are running from Detroit not moving in.
IPO will be announced soon. Waiting on a final confirmation. Should be received this week. Profits were after paying myself and were used internally for growth. There's exponential room for growth, and higher profit margins. All homes are priced to sell immediately.
Interesting.
When will IPO be started?
When will IPO be started?
Home Remodeling
Home Remodeling is Owned & Managed by David N. Biafore. Home Remodeling is a real estate venture, created from the already operating real estate remodeling company Real Home's Remodeling.
Home Remodeling will provide a real estate venture separate to the already operating Real Home's Remodeling, where Bitcoin investors can invest BTC in a tangible asset such as real estate. This investment fund, through Real Home's Remodeling will be used to purchase home's in cash offers, remodel them, then list/sell them immediately upon completion.
Median home sale prices in Metro Detroit broke the $100,000 mark in May for the first time in at least four years as suburban real estate continued to regain value lost in last decade’s crash, according to data released mid July. The new figures from Realcomp, a Metro Detroit-based multiple listing service, utilized by Real Home's Remodeling, showed May prices in the four-county region of Wayne, Oakland, Macomb and Livingston jumping 40% year-over-year to a $111,000 median sales price. These levels are 70% higher than May 2011 sales prices, as well as 233% and 345% higher, respectively, from the month’s 2010 and 2009 prices. The driving force behind the sales price recovery — in high gear since the fall — is the still-dwindling supply of desirable houses and condos on the market in southeast Michigan. While there are still plenty of vacant houses in the region, particularly in Detroit where the $11,100 median sales price is cheaper than many used cars, there are fewer move-in-ready suburban homes for middle-income buyers. The number of sales of foreclosed homes was down 30% in the metro area from a year ago. The number of listings we received was a little bit higher this year than last year, and yet the inventory is so much less than it was last year because they’re selling so quickly. The home's we remodel, are in the Metro-Detroit suburbs. Last year Real Home's Remodeling gross income profit's were $120,000 from remolding 13 house's, or a profit of about $10,000 per house.
The profits from the house will be split 70/30, with 70% of profits going directly to shareholders, and 30% back into a initial investment fund. Dividends would be paid within 2 weeks of the initial sale of the house.
Home Remodeling is looking to raise 555 BTC, or $50,000. To accomplish this 100,000 shares will be issued at 0.0055 BTC. A additional 15,000 share's will also be issued, but only to be released as a emergency fund in the event of a extreme fluctuation in the price of bitcoin during the IPO to meet $50,000 USD. Upon the sale of the first 100,000 shares the first home will be purchased for no more than $35,000, or 388 BTC. The remaining $15,000 or 166 BTC, will be used for remodeling.
338-BTC-Purchase Property
166-BTC Remodel Property
Initial Projected Profits- Near 100BTC.
Dividends-
For every house that's sold, 30% of profit's will go back to the Home Remodeling original initial investment fund. Thus the next house to be purchased will have a budget of $53,000 or 588 BTC. This will continue until the Initial Investment fund reaches $100,000, or 110,100 BTC. The profit dividends would then be bumped up to $20,000 with the same principle, 70% back to investors, 30% to Real Homes Remodeling. All USD will be exchanged to bitcoin via mt.gox exchange rate at the time of sale.
Home Remodeling's goal is to buy house's in cash that need work (which are in abundance in the Meto-Detroit area) remodel them, to make them livable, then sell at a low premium to buyers looking for a good deal on a livable house. There is a huge market right now for ready to move-in home's. Most people do not understand the potential of remodeling, nor want to spend the time to make a home livable. Home buyer's want a home that's finished but a the same time, not priced excessively above market value. All home's will be priced to sell immediately, our concept is that by pricing a home at a reasonable profit margin, the house is more likely to sell fast. We also have a good amount of modern furniture for staging. This along with landscaping and fresh paint is where most property rehabs go wrong, ( just because you fixed all the major problems does not mean you can over look the small). Home Remodeling's main goal is to offer Bitcoin Investors a real estate venture with a good ROI, while expanding Real Home's Remodeling growth and expansion. We plan to do a minimum of 12 house's within 12 month's of final sale's of 100,000 shares from the IPO.
For transparency, all future home's about to be purchased, will have the actual estate listing posted on Home Remodeling's forum, followed by posting the contract of the sale. Additionally an expense report will be disclosed on the forum, with all project improvements listed in detail with estimated cost's. A bank statement of monies being transferred will also be provided with the purchase of each home. Picture's will also be posted of (before and after) during remodeling. There will also be a forum on Bitcointalk to get input from investors.
When buying a home with a cash offer, typically it is possible to acquire a home for up to a 25% discount of the asking value. It's also accessible to close on a home unduly accelerated when a cash offer is accepted.
Growth and expansion is one of our main goal's in providing the Home Remodeling asset to investor's, to support this endeavor, Home Remodeling will use a two tier system.
Growth and Expansion-
Tier 1. 2nd Home Expansion. - Issue 100,000 share's above IPO price, and above current share price, during a time of strong demand for growth, and after input from investors has been considered. Shares will be used for the purchase of a 2nd home, to be remodeled during a progressing project. All details of the 2nd Project will be provided to investors prior to any shares being issued. This home will be bought and remodeled when all initial 100,000 shares have sold. A minimum of 15% percent of the investment to be used for remodeling. Dividends will be issued at the 70/30 principle. (70% to share holders, 30% to Real Homes Remodeling Initial Investment Project 2 Fund) .This will continue until the Investment Project 2 Fund reaches $100,000, or 110,100 BTC. The profit dividends would then be bumped up to a average of $20,000 with the same principle, 70% back to investors, 30% to Real Homes Remodeling Investment Fund. Fund will operate under the same guideline's as original investment. Investment fund will be held to continually purchase a 2nd project Home.
Tier 2. 3rd Home Expansion. - Issue additional 100,000 share's above sell price of Tier 1, only after all shares of Tier 1 have sold. To be issued during strong demand for growth, and after input from investors has been considered. Shares will be used to purchase a 3rd home, to be remodeled independently of open Projects 1, and 2. All details of the 3rd Project will be provided to investors prior to any shares being issued. This home will be bought and remodeled when all 100,000 shares have sold. A minimum of 15% percent of the investment to be used for remodeling. Dividends will be issued at the 70/30 principle. (70% to share holders, 30% to Home Remodeling Investment Project 3 Fund) .This will continue until the Investment fund reaches $100,000, or 110,100 BTC. The profit dividends would then be bumped up to $20,000 with the same principle, 70% back to investors, 30% to Real Homes Remodeling. Fund will operate under the same guideline's as original investment. Project 3 Investment funds will be held to continually purchase a 3rd project Home.
Dissolution of asset
In the event of un-seen circumstances, the issuer may elect to dissolve the company with the following method.
Shares may be bought back from shareholders at market price (110% of 7 day median market value)
Investor Website - http://biafor8.wix.com/homeremodeling
Home Remodeling is Owned & Managed by David N. Biafore. Home Remodeling is a real estate venture, created from the already operating real estate remodeling company Real Home's Remodeling.
Home Remodeling will provide a real estate venture separate to the already operating Real Home's Remodeling, where Bitcoin investors can invest BTC in a tangible asset such as real estate. This investment fund, through Real Home's Remodeling will be used to purchase home's in cash offers, remodel them, then list/sell them immediately upon completion.
Median home sale prices in Metro Detroit broke the $100,000 mark in May for the first time in at least four years as suburban real estate continued to regain value lost in last decade’s crash, according to data released mid July. The new figures from Realcomp, a Metro Detroit-based multiple listing service, utilized by Real Home's Remodeling, showed May prices in the four-county region of Wayne, Oakland, Macomb and Livingston jumping 40% year-over-year to a $111,000 median sales price. These levels are 70% higher than May 2011 sales prices, as well as 233% and 345% higher, respectively, from the month’s 2010 and 2009 prices. The driving force behind the sales price recovery — in high gear since the fall — is the still-dwindling supply of desirable houses and condos on the market in southeast Michigan. While there are still plenty of vacant houses in the region, particularly in Detroit where the $11,100 median sales price is cheaper than many used cars, there are fewer move-in-ready suburban homes for middle-income buyers. The number of sales of foreclosed homes was down 30% in the metro area from a year ago. The number of listings we received was a little bit higher this year than last year, and yet the inventory is so much less than it was last year because they’re selling so quickly. The home's we remodel, are in the Metro-Detroit suburbs. Last year Real Home's Remodeling gross income profit's were $120,000 from remolding 13 house's, or a profit of about $10,000 per house.
The profits from the house will be split 70/30, with 70% of profits going directly to shareholders, and 30% back into a initial investment fund. Dividends would be paid within 2 weeks of the initial sale of the house.
Home Remodeling is looking to raise 555 BTC, or $50,000. To accomplish this 100,000 shares will be issued at 0.0055 BTC. A additional 15,000 share's will also be issued, but only to be released as a emergency fund in the event of a extreme fluctuation in the price of bitcoin during the IPO to meet $50,000 USD. Upon the sale of the first 100,000 shares the first home will be purchased for no more than $35,000, or 388 BTC. The remaining $15,000 or 166 BTC, will be used for remodeling.
338-BTC-Purchase Property
166-BTC Remodel Property
Initial Projected Profits- Near 100BTC.
Dividends-
For every house that's sold, 30% of profit's will go back to the Home Remodeling original initial investment fund. Thus the next house to be purchased will have a budget of $53,000 or 588 BTC. This will continue until the Initial Investment fund reaches $100,000, or 110,100 BTC. The profit dividends would then be bumped up to $20,000 with the same principle, 70% back to investors, 30% to Real Homes Remodeling. All USD will be exchanged to bitcoin via mt.gox exchange rate at the time of sale.
Home Remodeling's goal is to buy house's in cash that need work (which are in abundance in the Meto-Detroit area) remodel them, to make them livable, then sell at a low premium to buyers looking for a good deal on a livable house. There is a huge market right now for ready to move-in home's. Most people do not understand the potential of remodeling, nor want to spend the time to make a home livable. Home buyer's want a home that's finished but a the same time, not priced excessively above market value. All home's will be priced to sell immediately, our concept is that by pricing a home at a reasonable profit margin, the house is more likely to sell fast. We also have a good amount of modern furniture for staging. This along with landscaping and fresh paint is where most property rehabs go wrong, ( just because you fixed all the major problems does not mean you can over look the small). Home Remodeling's main goal is to offer Bitcoin Investors a real estate venture with a good ROI, while expanding Real Home's Remodeling growth and expansion. We plan to do a minimum of 12 house's within 12 month's of final sale's of 100,000 shares from the IPO.
For transparency, all future home's about to be purchased, will have the actual estate listing posted on Home Remodeling's forum, followed by posting the contract of the sale. Additionally an expense report will be disclosed on the forum, with all project improvements listed in detail with estimated cost's. A bank statement of monies being transferred will also be provided with the purchase of each home. Picture's will also be posted of (before and after) during remodeling. There will also be a forum on Bitcointalk to get input from investors.
When buying a home with a cash offer, typically it is possible to acquire a home for up to a 25% discount of the asking value. It's also accessible to close on a home unduly accelerated when a cash offer is accepted.
Growth and expansion is one of our main goal's in providing the Home Remodeling asset to investor's, to support this endeavor, Home Remodeling will use a two tier system.
Growth and Expansion-
Tier 1. 2nd Home Expansion. - Issue 100,000 share's above IPO price, and above current share price, during a time of strong demand for growth, and after input from investors has been considered. Shares will be used for the purchase of a 2nd home, to be remodeled during a progressing project. All details of the 2nd Project will be provided to investors prior to any shares being issued. This home will be bought and remodeled when all initial 100,000 shares have sold. A minimum of 15% percent of the investment to be used for remodeling. Dividends will be issued at the 70/30 principle. (70% to share holders, 30% to Real Homes Remodeling Initial Investment Project 2 Fund) .This will continue until the Investment Project 2 Fund reaches $100,000, or 110,100 BTC. The profit dividends would then be bumped up to a average of $20,000 with the same principle, 70% back to investors, 30% to Real Homes Remodeling Investment Fund. Fund will operate under the same guideline's as original investment. Investment fund will be held to continually purchase a 2nd project Home.
Tier 2. 3rd Home Expansion. - Issue additional 100,000 share's above sell price of Tier 1, only after all shares of Tier 1 have sold. To be issued during strong demand for growth, and after input from investors has been considered. Shares will be used to purchase a 3rd home, to be remodeled independently of open Projects 1, and 2. All details of the 3rd Project will be provided to investors prior to any shares being issued. This home will be bought and remodeled when all 100,000 shares have sold. A minimum of 15% percent of the investment to be used for remodeling. Dividends will be issued at the 70/30 principle. (70% to share holders, 30% to Home Remodeling Investment Project 3 Fund) .This will continue until the Investment fund reaches $100,000, or 110,100 BTC. The profit dividends would then be bumped up to $20,000 with the same principle, 70% back to investors, 30% to Real Homes Remodeling. Fund will operate under the same guideline's as original investment. Project 3 Investment funds will be held to continually purchase a 3rd project Home.
Dissolution of asset
In the event of un-seen circumstances, the issuer may elect to dissolve the company with the following method.
Shares may be bought back from shareholders at market price (110% of 7 day median market value)
Investor Website - http://biafor8.wix.com/homeremodeling
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