Topic: RentalStarter - A Midwest Real Estate Investment Company - page 35. (Read 120494 times)
Branny, Will the shares be tradable after the IPO?
nice going, please keep as updated 
I think we won a property auction today. It requires seller confirmation but the agent is acting like everything will go through.
SFD
2-3br 1.5ba
Built around 1900
2 stories
Good neighborhood (Better than any other property we have)
~1250 square feet
$27.5k purchase price
<$10k rehab cost
$700/mo rental income
$80k-$100k FMV after rehab.
$65/mo insurance cost
$75/mo rehab escrow
$85/mo in taxes
$475/mo free cashflow
15.2% net cashflow after rehab costs.
SFD
2-3br 1.5ba
Built around 1900
2 stories
Good neighborhood (Better than any other property we have)
~1250 square feet
$27.5k purchase price
<$10k rehab cost
$700/mo rental income
$80k-$100k FMV after rehab.
$65/mo insurance cost
$75/mo rehab escrow
$85/mo in taxes
$475/mo free cashflow
15.2% net cashflow after rehab costs.
Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.
How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.
You are probably right but nothing is certain in BTC world. I don't think it's a good idea to speculate with the price as it's not the business of this company. When I mentioned fiat-based shares what i meant is that the BTC value of a share at the IPO could self-adjust to a certain value in $. Of course, once the stock starts trading this is impossible, but this way if the business plan requires 1 million $, this amount will be available after the IPO independently of bitcoin's valuation.
It would be nice to auto-cashout but HL doesn't have that option. As it stands now I have to run everything through HL to get approved for disbursements so there's a pretty significant lag on our end from the time a guy buys a share to the time that BTC is sitting in our wallet to liquidate to USD.
Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.
How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.
You are probably right but nothing is certain in BTC world. I don't think it's a good idea to speculate with the price as it's not the business of this company. When I mentioned fiat-based shares what i meant is that the BTC value of a share at the IPO could self-adjust to a certain value in $. Of course, once the stock starts trading this is impossible, but this way if the business plan requires 1 million $, this amount will be available after the IPO independently of bitcoin's valuation.
Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.
How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.
As it stands now we took a 'draw' from HL of 70btc in order to hold till we found a property. We cashed out 10 of those at an average of about $680 per btc. It was my feeling, along with shareholders I've talked to that it would be wisest to wait till price recovery.
The outstanding issue could be as to how long price recovery takes. We have 2 weeks to fund the new property. CB price is around $560 right now which would put the remaining 60btc at $560 that would be another $33600 in fiat we can cash out from what we have in-wallet (Plus ~$26,000 or so we already have in fiat) which puts us at - Nearly $60,000.
We will likely have to take a 2nd 'draw' on our HL wallet, but it won't have to be for a significant amount.
E Mill street also looks good , we will be placing a bid on it shortly.
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Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Bitcoin price is in a temporary slump due to the MtGox fiasco, I would advise holding onto the bitcoins and waiting for the price to go back up before selling.
How would you emit shares on havelock in fiat? Havelock does not hold fiat, they hold bitcoins. And if a business is truly fiat based, then the market price for the shares should follow the changes in the fiat price, there is no auto-adjusting necessary.
Given the high volatility of the BTC price I would advise not taking any risks and converting funds to fiat as they come in. After all this is a fiat business where Bitcoin is merely the investment vehicle.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
Which by the way, makes me think of a nice feature to have on Havelock: the possibility of emitting shares in fiat and auto-adjusting share price in BTC.
good updates men
According to the listing agent we have preliminary acceptance on our offer at the multi-family property.
Asking price - $74,900
Our offer price - $67,000
Discount off asking - 10.5%
Current income - $1050/mo
Income at full occupancy - $1400/mo
Simple cash-on-cash return 25%
Monthly expenses -
$115/mo Taxes
$75/mo Insurance
$200/mo repair escrow
$25/mo Trash service (Landlord paid)
Effective net monthly income - $985 | 17.6%APY
This assumes no rehab. We may opt to put some work into the small house which would be no more than say <$3,000.
The best part is that we are locked into pro-rated rents, so when the property closes there will be an additional disbursement of funds to investors. March div payment at current estimate would be more than double what it was for February.
Asking price - $74,900
Our offer price - $67,000
Discount off asking - 10.5%
Current income - $1050/mo
Income at full occupancy - $1400/mo
Simple cash-on-cash return 25%
Monthly expenses -
$115/mo Taxes
$75/mo Insurance
$200/mo repair escrow
$25/mo Trash service (Landlord paid)
Effective net monthly income - $985 | 17.6%APY
This assumes no rehab. We may opt to put some work into the small house which would be no more than say <$3,000.
The best part is that we are locked into pro-rated rents, so when the property closes there will be an additional disbursement of funds to investors. March div payment at current estimate would be more than double what it was for February.
Inspection went well on the duplex + house. We have submitted a bid, APY looks very good IMO.
S Church offer came back at $500 below asking......Not too happy about that. However in the mean time we located another good candidate which we will be bidding on in the near future after I can get some contractor rehabs. It will be in the ~13% APY range, but appreciation will be fantastic.
S Church offer came back at $500 below asking......Not too happy about that. However in the mean time we located another good candidate which we will be bidding on in the near future after I can get some contractor rehabs. It will be in the ~13% APY range, but appreciation will be fantastic.
I bought bitcoins 5 february for 800 dollars and bought rentan starter shares 7 february. Then problems with mtgox began and now bitcoin costs 620 dollars on bitstamp. For what price you intend to cell them? In my opinion now is bad time to cell them, it is worth to wait when mtgox will recover withdrawals and price will return to 800 dollars.
No one pays on Gox pricing.
The only two exchanges that we deal with on purchase/liquidation of coins are Coinbase and Bitstamp.
When we released the IPO on the 7th, CB pricing was in the area of $725 per bitcoin while Gox was in the area of $800/btc.
Since that time, CB pricing has gone down to $600-$700 and Gox pricing from $800 to $200-$300.
We have liquidated a few coins during this time, approximately 8-10btc with a median sales price of about $675usd per bitcoin. It's our goal to hold off, however CB pricing has taken a beating as gox values have been nearly obliterated.
So , we have the option of either waiting out values to see if they go up or down, or we can sell in the near future and recoup value by investment properties.
I bought bitcoins 5 february for 800 dollars and bought rentan starter shares 7 february. Then problems with mtgox began and now bitcoin costs 620 dollars on bitstamp. For what price you intend to cell them? In my opinion now is bad time to cell them, it is worth to wait when mtgox will recover withdrawals and price will return to 800 dollars.
Good to hear. Thanks for the updates.
Another candidate property has been located, cashflow looks good but it's going to tie up more capital than our average property.
We have located another additional candidate for purchase.
3 units total - $1400/mo in income ($1050/mo in current income from two occupied units).
$74,900 Asking price
$65,000-$72,000 offer price
Taxes are <$100/mo
Insurance will be around $100/mo
Repair allowance of $200/mo
Would result in 16% APY as-is at full occupancy. 10.4% APY based on only current occupancy.
Our current financial status is :
$26,800 in USD
~65btc held in company wallet ($40,950usd as of current rate).
111.74btc held inside havelock ($70,396usd as of current rate).
Total fiat reserves of $138,146usd with $42,500 reserved for yesterday's single home offer.
$95,646usd in potential free usable capital.
We have located another additional candidate for purchase.
3 units total - $1400/mo in income ($1050/mo in current income from two occupied units).
$74,900 Asking price
$65,000-$72,000 offer price
Taxes are <$100/mo
Insurance will be around $100/mo
Repair allowance of $200/mo
Would result in 16% APY as-is at full occupancy. 10.4% APY based on only current occupancy.
Our current financial status is :
$26,800 in USD
~65btc held in company wallet ($40,950usd as of current rate).
111.74btc held inside havelock ($70,396usd as of current rate).
Total fiat reserves of $138,146usd with $42,500 reserved for yesterday's single home offer.
$95,646usd in potential free usable capital.
wish i have more time to invest
We have located a candidate for purchase.
Asking price - $42,900
Repair estimate - <$5,000
Rental income - $9,000/yr
County appraisal of $87,270
Estimated after rehab market value - $65,000
APY Range - 13.14%-15.78%
All investors have received further information & photos via havelock.
Asking price - $42,900
Repair estimate - <$5,000
Rental income - $9,000/yr
County appraisal of $87,270
Estimated after rehab market value - $65,000
APY Range - 13.14%-15.78%
All investors have received further information & photos via havelock.
Would you accept non-btc investment? I would be willing throw a big chunk of money your way but not tied to btc prices for a business that operates primarly in flat currency.
PM Sent
Would you accept non-btc investment? I would be willing throw a big chunk of money your way but not tied to btc prices for a business that operates primarly in flat currency.
I dont see how this can be an issue, just convert the money at the exact time you will buy the securitie and convert every dividend in the same fashion.The only thing that I can agree with you is the stock of bitcoins that will remain in the company prior to the acquisitions, but I , personally, dont think bitcoin will suffer absurd volatility from now on, but it is a honest concern.
Would you accept non-btc investment? I would be willing throw a big chunk of money your way but not tied to btc prices for a business that operates primarly in flat currency.
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