Early Bird Incentive:
Investors who subscribe up to the first $10,000 of this offering will receive a Preferred 15% APR on their investment. All else receives an 11% APR.
Short Term Loan to buy & rehab the property with a 12 month maturity date:
Leverage: The developer real estate agent is pre-approved with a bank loan to cover 100% of the purchase price of the home at $75K. Along with your investment of $60K from this offering, it would represent a Loan-to-After-Repair-Value of 67.5%.
Short Term Loans: The maturity date of the loan is June 1, 2019. This potentially helps limit exposure to market fluctuations.
Experienced Borrower: The developer agent has successfully turned over 14 investment deals since 2012.
Borrower Credit Score: The borrower has a credit score of 660 which puts them in the FICO Band III average credit rating.
The Property: 2939 Compton Rd, Cincinnati, OH 45251
The property needs rehabilitation and is currently undervalued in the market. Our strategy is to acquire this property and rehab it back to its market value with strong margins. We'll then generate cash flow on the property as a vacation rental. It's located in a residential suburb of Cincinnati. The home is a two-story, 2,600 sf, with 5 bedrooms, and 3 full baths. It also has a sauna and basketball court.
Comparable Sales based on 2939 Compton Rd
The recent sales in the neighborhood give us a good idea of what the market value this home will be after we've renovated it.
A Real Estate Team with a Strong Track Record
Nicci Willis & Company is led by Jameen Willis and Nicole Willis. Jameen has valuable insight and experience in the real estate industry. He bought his first investment property in 2002, and has owned and managed property since then. Jameen has been a licensed Realtor, Investor, and Entrepreneur for over 18 years, with hundreds of satisfied clients and successful investments. He is an entrepreneur at heart, with business interests in real estate, public speaking, and writing. He is currently affiliated with RE/MAX, a leading real estate company and one of the most recognizable brands and logos in the world.
He is also the CEO of the parent real estate investment company, Jameen Willis International. JWI specializes in mid century modern, contemporary, and unique properties, while providing opportunities for people to invest in real estate who may not have the time, money, or experience to successfully do it themselves.
Nicole Willis brings different assets to the company, coming from corporate America. Nicole has a B.S. in Marketing and an MBA in Business Administration with a concentration in Entrepreneurship. She has worked in the corporate world for General Electric, Procter and Gamble, and Kraft foods.
Nicci is a highly sought after event logistics manager and coordinator. She also is the founder and owner of Party Sitters LLC, a corporate event childcare company.
Amanda is a licensed Ohio Realtor with 10 years experience in real estate sales and leasing.
Convert the Property to a Vacation Rental to Generate Cashflow
There's an established market for rentals in Cincinnati for single-family homes. Vacation rental properties are the fastest growing segment of today's real estate market. The ever-increasing demand for alternative housing and lodging provides an opportunity to source the lack of supply of available housing. The developer plans to purchase the home, remodel it, and list it as a rental on AirBnB to generate immediate cashflow within 3 months of purchase. If necessary, the developer, a real estate agent, has the option to sell the property at its estimated market value of $200,000, in order to satisfy the debt.
The borrower would like to offer gift rewards to it's earliest investors for their participation in this offering under the following basis:
$1,000 investment - $50 gift card to AirBnB (15 Total)
$5,000 investment - 1 free nights on the property (5 total)
$10,000 investment - 3 free nights on the property (3 total)
You’re investing in the Company, Nicci Willis & Co, LLC, the borrower who will control & operate the property located at 2939 Compton Road, Cincinnati, OH 45251. In other words, your investment is not for ownership in the property itself. You are relying on the manager to effectively execute the business plan, and as a result, investors will not have any influence on the decisions of the management.
Investors will be relying on the borrower to execute the business plan in a way that enables it service the debt payments. The underlying property is unique and does not have a history or significant performance record to determine that the company can fulfill its obligations of servicing the debt. The loan will be used for repairs, and is a situation that does not generally meet the financing criteria for conventional mortgages.
Credit risk is inherent in the mortgage lending industry, and there can be no assurance that the credit worthiness of the borrower will be sufficient to assure the full repayment of the underlying borrower loan.
The acquisition of a property comes with risks to the build-out and timeline of the general contractor, subcontractor, architects, licensing, and other third parties who are contracted to complete the effort. While there is a milestone schedule to complete the project, the schedule is subject to getting financing, completing the build-out and getting the rental fully operational.
The borrower will pursue bank debt financing to supplement the final amount of capital required to complete the project. They will be required to subordinate the loan to the bank. As a result, investors will not have a secured interest in the loan, nor will they be allowed any liens on the property.
The real estate market is subject to forces beyond the control of the company, the availability of financing options, interest rates, neighborhood developments, crime rates, adjacent properties, rental markets, and other general economic conditions. As a result, the company’s performance is subject to these risks that could prevent it from servicing the debt.
The company’s projections are all forward looking, and there is no operating history on this property. While the company certainly believes that the intended use of the property will be sufficient to meet their projections in order to service this loan, there is no guarantee that it will be fully realized.
Please Note: This is not an complete list of the risks, please review the full offering, including the Form C filing with the SEC link below. Further questions can be addressed in the comments tab of this offering page.
Wunderfund is a FINRA/SEC regulated funding portal. Wunderfund supports all types of early stage companies ranging from lifestyle businesses, real estate, and tech companies. Wunderfund believes in small business, strong communities, and supporting minority businesses. Importantly, they want to see the Midwest become an economic engine and become the next Silicon Valley. By making an investment you are not only supporting our startup, but you're supporting this vision. Thank you in advance for your support!
Feel free to leave a question in the COMMENTS tab for general inquiries. Also, check our FAQ and our complete filing as part of our Form C with the SEC.