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Residential
Pintar Residential Fund
Multiple Locations
Completed Equity
100% funded
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Pintar Residential Fund
Multiple Locations
All Investments > Pintar Residential Fund
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Overview
Pintar Residential Fund
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Details
For more information, view the Sponsor's Investment Memorandum.
Estimated First Distribution 9/2016
Estimated Hold Period 2.5 years
Investment Type Equity
Investment Structure Limited Partnership Fund
PICR Fund III Inception Date July 1, 2015
Principals Jeff Pintar - CEO John Kralik - President
Current Markets Southern CA, Greater Las Vegas, and GA
Investment Strategies "Buy and Hold" "Fix and Flip"
Sponsor Documents
The offering documents above have been prepared and are being delivered by the Sponsor of this investment opportunity, and not by RM Securities, LLC. RM Securities, LLC and its associated persons did not assist in preparing, do not explicitly or implicitly adopt or endorse, and are not otherwise responsible for, the Sponsors offering documents posted below or any content therein.
Deal Highlights
Investment Highlights
Experienced Sponsor who has invested over $1 billion in over 6,000 single family homes.
Sponsor has merged its two previous existing funds into this fund, providing the opportunity for immediate cash flow to RM investors.
Economies of scale allow Sponsor to purchase and renovate assets at competitive or below market costs.
Experienced Sponsor who has invested over $1 billion in over 6,000 single family homes.
Sponsor has merged its two previous existing funds into this fund, providing the opportunity for immediate cash flow to RM investors.
Economies of scale allow Sponsor to purchase and renovate assets at competitive or below market costs.
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Management
For more information, view the Sponsor's Investment Memorandum.
Pintar Investment Company

Pintar Investment Company ("PIC"), based in San Juan Capistrano, California, is a fully integrated residential real estate firm. PIC has expertise in real estate investment management, acquisition, disposition, development and redevelopment of both residential and commercial projects throughout the United States. Since its inception, PIC has invested over $1 billion in single family residential homes.

PIC's executive team has over 50 years of combined real estate development and investment experience and has produced more than $10 billion of real estate transactional volume since 1993.

Sponsor Track Record

Founded in 2009, Pintar Investment Company is an experienced private real estate investment company which has acquired over 6,000 single family residential homes at a total cost of over $1 billion.

Website
Management Team
Management
Jeff Pintar - CEO - Partner

Prior to founding Pintar, Jeff was the National Retail Partner and member of the Investment Committee at Panattoni Development Company Inc. During Jeff's tenure at Panattoni, the company developed and delivered over 40 million square feet of new commercial projects valued in excess of $5 billion.

Jeff began his real estate career with CB Richard Ellis and became one of the nation's leading revenue producers for the firm receiving Circle of Excellence awards in 1996 - 2003.  In 1999 Jeff moved to Australia where he sat on the Asia Pacific Senior Leadership Board which oversaw the regions 20 offices and Retail Business Line.

Management
John Kralik - President - Partner

John is responsible for all operational aspects of the organization, acquisitions, disposition, and management of funds.  Before joining Pintar in 2009, John was president and owner of JT Investment Properties in Los Angeles, specializing in the acquisition and disposition of trustee sale single family residences throughout Southern California.

Prior to joining J.T. Investment Properties, John was a Vice President at DC Commercial in Century City for five years, specializing in the acquisition and sale of retail and office properties in Los Angeles County.

Property
For more information, view the Sponsor's Investment Memorandum.

A brief summary of the Fund's approximate portfolio allocations as of March 9, 2016 is as follows:

Current Portfolio Description
 
Market
% of Total
Portfolio Value
% of Value /
# of SFRHs 
(Buy and Hold)
% of Value /
# of SFRHs 
(Fix and Flip)
Average
Purchase Price
Greater Southern CA
(excluding SD)
49% 34% / 105 15% / 15 $270,000
Las Vegas area 23% 19% / 68 4% / 10 $195,000
San Diego area 27% 0% / 0 27% / 43 $416,000
Georgia 1% 1% / 9 0% / 0 $79,000
Totals 100% 57% / 182 43% / 68 $265,700
Comparables
For more information, view the Sponsor's Investment Memorandum.

Not applicable for SFRHs across multiple markets.

Financials
For more information, view the Sponsor's Investment Memorandum.
Sources & Uses

Below is the Fund's approximate balance sheet as of March 9, 2016:

Assets
Cash and Current Assets   $1.1 million
"Fix and Flip" Non-Current Assets   $25.1 million
"Rent and Hold" Non-Current Assets   $32.9 million
Total Assets   $59.1 million
     
Equity and Liabilities
Existing Realty Mogul 44, LLC Equity   $1.6 million
Existing Sponsor Equity   $8.0 million
Existing Other Limited Partner Equity   $18.1 million
Existing Liabilities   $31.4 million
Total Equity and Liabilities $59.1 million
Debt Assumptions

For "buy and hold" assets, the debt financing terms are as follows:

  • Rate: 3.75%
  • Amortization: None - Full-term interest only
  • Leverage Limit: 50% of appraised value, on a property by property basis
  • Personal Guarantee: Jeff Pintar, CEO of the Fund

For "fix and flip" assets, the debt financing terms are as follows:

  • Rate: 5.50%
  • Amortization: None - Full-term interest only
  • Leverage Limit: 60% of purchase price, on a property by property basis
  • Personal Guarantee: Jeff Pintar, CEO of the Fund
Distributions

Realty Mogul 63, LLC contributions are projected to earn a 6.0% cumulative, annualized preferred return. On a quarterly basis, after investors Realty Mogul 63, LLC and other investors in the fund receive a 6.0% cumulative, annualized preferred return, the general partner of the Fund is paid an asset management fee equivalent to 0.50% of portfolio value, annualized.  Remaining proceeds are anticipated to then be split 70% to Realty Mogul 63, LLC and other investors in the Fund and 30% to the Sponsor. It is also important to note that the manager of Realty Mogul 63, LLC is expected to receive a portion of the general partner of the Fund's split of distributions, and investors in Realty Mogul 63, LLC will be subject to additional fees other than those charged by the Fund.  For a full explanation of fees payable by investors in Realty Mogul 63, LLC, please refer to the Investor Document Package attached to this offering.

The general partner of the Fund is expected to make distributions to Realty Mogul 63, LLC as follows: 

Order of Distributions to Realty Mogul 63, LLC (Operating Income)

  • First, to investors in the Fund (including Realty Mogul 63, LLC), until investors have received a six percent (6.0%) cumulative, preferred annualized return, 
  • ​Second, one hundred percent (100%) to the Sponsor until the Sponsor has received an asset management fee equal to 0.50% of portfolio value, annualized, and
  • Finally, seventy percent (70%) to investors in the Fund and thirty percent (30%) to the general partner of the Fund thereafter.

For investments made prior to the beginning of any given fiscal quarter year, such investments will be due a fixed rate of return of 6.0% per annum, until such time as a new fiscal quarter begins and such contributions are converted to equity contributions, per the Fund's PPM.

Distributions from operating income are projected to occur on a quarterly basis, with the first distribution expected to occur in September of 2016. However, these distributions are at the discretion of the Sponsor, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Fees

Certain fees and compensation will be paid over the life of the transaction.  The following fees and compensation will be paid:

Type of Fee Amount of Fee Received By Paid From Notes
One-Time Fees:
Broker-Dealer Fee 4.0% of Realty Mogul Equity Raise North Capital (1) Fund Available Cash Expense is capitalized in Fund.  RM investors pay a pro rata percentage of fee based off of total equity invested in the Fund.
Recurring Fees:
Acquisition Fee 0.50% of purchase price General Partner of the Fund Fund Available Cash Paid upon acquisition on a property-by-property basis
Financing Fee 0.50% of purchase price General Partner of the Fund Fund Available Cash Paid upon acquisition on a property-by-property basis
Property Management Fee 7.00% of gross rental income Non-affiliated third parties Fund Available Cash Paid Quarterly
Asset Management Fee 0.50% of total value of the Fund, per annum General Partner of the Fund Fund Available Cash Paid quarterly.  Fund value is fixed annually for the calculation of the fee at the end of the second quarter.  Asset management fee is not paid for the quarter until after investors in the fund receive a 6.0% preferred return, annualized.  If there is a quarterly distribution of less than 6.0% annualized, the balance will accrue to investors capital balance and be paid before any profit split in subsequent quarters.
Management and Administrative Fee 2.0% of investment assets in Realty Mogul 44, LLC, per annum RM Manager, LLC Distributable Cash RM Manager, LLC is the Manager of Realty Mogul 44, LLC and a wholly owned subsidiary of Realty Mogul, Co. (2)

Notes:
(1) Certain employees of Realty Mogul, Co. are registered representatives of, and are paid commissions by, North Capital Private Securities Corp., a Delaware corporation ("North Capital"). In addition, North Capital pays a technology provider services fee to Realty Mogul, Co. for licensing and access to certain technology, reporting, communications, branding, entity formation and administrative services performed from time to time by Realty Mogul, Co., and North Capital and Realty Mogul, Co. are parties to a profit sharing arrangement.

(2) Fees may be deferred to reduce impact to investor distributions.

The above presentation is based upon information supplied by the Sponsor or others.  Realty Mogul, Co., RM Manager, LLC, and Realty Mogul 44, LLC, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein.  The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.

Sources & Uses

Below is the Fund's approximate balance sheet as of March 9, 2016:

Assets
Cash and Current Assets   $1.1 million
"Fix and Flip" Non-Current Assets   $25.1 million
"Rent and Hold" Non-Current Assets   $32.9 million
Total Assets   $59.1 million
     
Equity and Liabilities
Existing Realty Mogul 44, LLC Equity   $1.6 million
Existing Sponsor Equity   $8.0 million
Existing Other Limited Partner Equity   $18.1 million
Existing Liabilities   $31.4 million
Total Equity and Liabilities $59.1 million
Debt Assumptions

For "buy and hold" assets, the debt financing terms are as follows:

  • Rate: 3.75%
  • Amortization: None - Full-term interest only
  • Leverage Limit: 50% of appraised value, on a property by property basis
  • Personal Guarantee: Jeff Pintar, CEO of the Fund

For "fix and flip" assets, the debt financing terms are as follows:

  • Rate: 5.50%
  • Amortization: None - Full-term interest only
  • Leverage Limit: 60% of purchase price, on a property by property basis
  • Personal Guarantee: Jeff Pintar, CEO of the Fund
Distributions

Realty Mogul 63, LLC contributions are projected to earn a 6.0% cumulative, annualized preferred return. On a quarterly basis, after investors Realty Mogul 63, LLC and other investors in the fund receive a 6.0% cumulative, annualized preferred return, the general partner of the Fund is paid an asset management fee equivalent to 0.50% of portfolio value, annualized.  Remaining proceeds are anticipated to then be split 70% to Realty Mogul 63, LLC and other investors in the Fund and 30% to the Sponsor. It is also important to note that the manager of Realty Mogul 63, LLC is expected to receive a portion of the general partner of the Fund's split of distributions, and investors in Realty Mogul 63, LLC will be subject to additional fees other than those charged by the Fund.  For a full explanation of fees payable by investors in Realty Mogul 63, LLC, please refer to the Investor Document Package attached to this offering.

The general partner of the Fund is expected to make distributions to Realty Mogul 63, LLC as follows: 

Order of Distributions to Realty Mogul 63, LLC (Operating Income)

  • First, to investors in the Fund (including Realty Mogul 63, LLC), until investors have received a six percent (6.0%) cumulative, preferred annualized return, 
  • ​Second, one hundred percent (100%) to the Sponsor until the Sponsor has received an asset management fee equal to 0.50% of portfolio value, annualized, and
  • Finally, seventy percent (70%) to investors in the Fund and thirty percent (30%) to the general partner of the Fund thereafter.

For investments made prior to the beginning of any given fiscal quarter year, such investments will be due a fixed rate of return of 6.0% per annum, until such time as a new fiscal quarter begins and such contributions are converted to equity contributions, per the Fund's PPM.

Distributions from operating income are projected to occur on a quarterly basis, with the first distribution expected to occur in September of 2016. However, these distributions are at the discretion of the Sponsor, who may decide to delay distributions for any reason, including maintenance or capital reserves.

Fees

Certain fees and compensation will be paid over the life of the transaction.  The following fees and compensation will be paid:

Type of Fee Amount of Fee Received By Paid From Notes
One-Time Fees:
Broker-Dealer Fee 4.0% of Realty Mogul Equity Raise North Capital (1) Fund Available Cash Expense is capitalized in Fund.  RM investors pay a pro rata percentage of fee based off of total equity invested in the Fund.
Recurring Fees:
Acquisition Fee 0.50% of purchase price General Partner of the Fund Fund Available Cash Paid upon acquisition on a property-by-property basis
Financing Fee 0.50% of purchase price General Partner of the Fund Fund Available Cash Paid upon acquisition on a property-by-property basis
Property Management Fee 7.00% of gross rental income Non-affiliated third parties Fund Available Cash Paid Quarterly
Asset Management Fee 0.50% of total value of the Fund, per annum General Partner of the Fund Fund Available Cash Paid quarterly.  Fund value is fixed annually for the calculation of the fee at the end of the second quarter.  Asset management fee is not paid for the quarter until after investors in the fund receive a 6.0% preferred return, annualized.  If there is a quarterly distribution of less than 6.0% annualized, the balance will accrue to investors capital balance and be paid before any profit split in subsequent quarters.
Management and Administrative Fee 2.0% of investment assets in Realty Mogul 44, LLC, per annum RM Manager, LLC Distributable Cash RM Manager, LLC is the Manager of Realty Mogul 44, LLC and a wholly owned subsidiary of Realty Mogul, Co. (2)

Notes:
(1) Certain employees of Realty Mogul, Co. are registered representatives of, and are paid commissions by, North Capital Private Securities Corp., a Delaware corporation ("North Capital"). In addition, North Capital pays a technology provider services fee to Realty Mogul, Co. for licensing and access to certain technology, reporting, communications, branding, entity formation and administrative services performed from time to time by Realty Mogul, Co., and North Capital and Realty Mogul, Co. are parties to a profit sharing arrangement.

(2) Fees may be deferred to reduce impact to investor distributions.

The above presentation is based upon information supplied by the Sponsor or others.  Realty Mogul, Co., RM Manager, LLC, and Realty Mogul 44, LLC, along with their respective affiliates, officers, directors or representatives (the "RM Parties") hereby advise you that none of them has independently confirmed or verified any of the information contained herein.  The RM Parties further make no representations as to the accuracy or completeness of any such information and undertake no obligation now or in the future to update or correct this presentation or any information contained herein.

Disclosures
RM Securities, LLC and its Affiliates Compensation

RM Securities, LLC, its registered representatives, affiliates, associated persons, and personnel of its affiliates who may also be associated with it, including our associated persons and personnel of our affiliates who are also be associated with RM Securities, LLC (it (“RM Securities,” “we,” “our,” or “us”) will receive fees, expense reimbursements, and other compensation (“Fees”) from the issuer of this investment offering, its sponsor, or an affiliate thereof (“Sponsor”), or otherwise in connection with Sponsor’s offering. The Fees paid to us are in addition to other fees you will pay to Sponsor or in connection with Sponsor’s investment offering. You will pay Fees to Sponsor, either directly or indirectly as an investor in the Sponsor’s offering. Sponsor will use the Fees you pay, as well as funds you invest in the relevant offering, to compensate us. The Fees paid to us will directly or indirectly be borne by you as the investor (typically, but not always, in the form of an expense of the Sponsor’s offering in which you invest) because such Fees will reduce the proceeds available for distribution to you and reduce the amount you earn over time.

For more information on the Fees paid to us, or any other Fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

No Approval, Opinion or Representation, or Warranty by RM Securities, LLC

Sponsor has provided, approved, and is solely responsible in all aspects for the information on this webpage (“Page”), including Sponsor’s offering documentation, which may include without limitation the Private Placement Memorandum, Operating or Limited Partnership Agreement, Subscription Agreement, the Project Summary and all exhibits and other documents attached thereto or referenced therein (collectively, the “Investment Documents”). The Investment Documents linked on this page have been prepared and posted by Sponsor, and not by RM Securities. We did not assist in preparing, do not adopt or endorse, and we are not otherwise responsible for, the Sponsor’s Investment Documents. We make no representations or warranties as to the accuracy of information on this Page or in the Sponsor’s Investment Documents and we accept no liability therefor. No part of the information on this Page or in the Sponsor’s Investment Documents is intended to be binding on us.

Sponsor’s Information Qualified by Investment Documents

The information on this Page is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s Investment Documents. The information on this Page is not complete and subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.

Risk of Investment

This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.

No Reliance on Forward-Looking Statements; Sponsor Assumptions

Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Neither RM Securities nor Sponsor are obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.

Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.

No Reliance on Past Performance

Any description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.

Sponsor’s Use of Debt

A substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.

Sponsor’s Offering is Not Registered

Sponsor’s securities offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act (“Private Placement”). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.

No Investment Advice

Nothing on this Page should be regarded as investment advice (either with respect to a particular security or regarding an overall investment strategy), a recommendation, an offer to sell, or a solicitation of or an offer to buy any security. Advice from a securities professional is strongly advised to understand and assess the risks associated with real estate or private placement investments. For additional information on RM Securities’ involvement in this offering, please carefully review the Sponsor’s Investment Documents, and RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

1031 Exchange Risk

Internal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. RM Securities and its affiliates make no representation or warranty of any kind with respect to the tax consequences of your investment or that the IRS will not challenge any such treatment. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.

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