Neighborhood Ventures is partnering with Small Change, a funding portal that specializes in real estate offerings issued under Reg CF. Neighborhood Ventures is an Arizona based investment platform that provides access to investment under Arizona’s state crowdfunding law. Under the state exemption, issuers may raise up to $5 million (similar to Reg CF).
Neighborhood Ventures is cross-listing its offerings on Small Change to gain access to a nationwide audience that includes non-accredited investors (anyone) who may be interested in generating passive income in debt-based offerings.
Neighborhood Ventures was founded in 2017 by multifamily brokerage veteran John Kobierowski and former Goldman Sachs tech analyst Jamison Manwaring.
According to a statement by Neighborhood Ventures, by listing on Small Change it has been able to raise approximately $2 million to date. The company has recently listed its second offering on Small Change for a 30-unit complex located in Phoenix, Arizona. The Neighborhood Ventures team has begun renovations on the building starting with the exterior of the complex with plans to update the apartments.
Manwaring, Neighborhood Ventures co-founder and CEO, said that demand for multifamily housing is on the rise in Phoenix, and construction in Phoenix is booming. He added they are “thrilled” to offer the investment opportunity to anyone in the United States.
According to the offering page, the Venture on 12th has raised $41,000 under Reg CF reaching 41% of its funding goal on Small Change. It will fund up to $500,000 on the platform. In Arizona under the state exemption, the offering has raised just under $2 million. The annual rate of return is expected to be 12% with a target cash-on-cash return of 6% and a hold period of 3 years. Investors may participate with a $1000 minimum.
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