Emran Chowdhury
Royal Oak, MI (USA)
Role(s):
Founder/Owner/Principal
Property Pawners, LLC
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Startup
Location:
Ypsilanti
Industry:
Real Estate
Year Founded:
2016
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Sole Proprietorship
Description:
My company's goal is to create a portfolio of income properties across the united states, starting in Michigan. At the moment, I intend to acquire my first multifamily income property that will cash flow $75 000 + annually after expenses and mortgage payments. I need to raise $950 000 to cover the down payment and closing costs. Investors will receive a 2% preferred return plus share a 70% equity stake in cash flows after asset management fees based on their contribution percentage. This equates to a 12-15% average annual return. After I have my list of committed investors, I will put the property under contract and create an LLC for the property with my attorney's assistance. The investors will be included as members of the business or creditors to the business. The minimum investment is $100,000. Accredited investors must have an annual income of $200,000 annually or $300,000 annually (with a spouse) or have a net worth of $1,000,0000.