Learn about the process of acquiring a property using Foundation.
Acquiring a property with your friends or community can be broken down into 5 stages:
Stage 1 - Create A Search Party & Draft Investment Proposal: At this stage it is all about working with your friends and community to figure out what property you would like to buy, what it will be used for, how you will finance it etc.
Stage 2 - Publish Investment Proposal: At this stage you publish your investment proposal and allow others to begin reviewing it and deciding whether they would like to invest.
Stage 3 - Committing Funds Stage: At this stage your friends and community can begin to commit funds.
Stage 4 - Collecting Funds: Once an investment proposal has 80% funds committed, then we will actually begin collecting funds. Investors will be asked to deposit 20% of their commitment immediately and then the other 80% a week before the property closing date.
Stage 5 - Acquisition Process: Once an investment proposal has 80% of funds committed, we will begin the acquisition process. That starts setting up a legal entity, making an offer to the seller, setting up a bank account, applying for a mortgage (if applicable), etc.