We run extensive background checks, criminal checks, bad actor checks, and reference checks on sponsors. In addition to never allowing a sponsor with a criminal history / any securities related issue to use the platform, we may also turn down sponsors due to poor reference checks even if background and criminal checks come back clear.
We require unaffiliated sponsors to use an unaffiliated third-party escrow agent. When an investor makes an investment with unaffiliated sponsors using the RealtyMogul platform, the investor’s money is transferred directly into a third-party escrow account. All closing conditions in connection with a sponsor’s offering need to be met before the third-party escrow agent will approve releasing investor funds to the issuer or general partner. For example, if an issuer or general partner plans to use funds for a real estate acquisition that does not ultimately transact, the third-party escrow agent will not transfer investor funds to the issuer or general partner, and funds will be returned to investors.
Our controls include visiting every property (or a subset of properties if it’s a fund) to confirm the real estate is what and where the real estate is supposed to be.
We have robust quality controls with detailed checklists and a review of third-party reports.

MHPI VII Manager, LLC
The members of the Manager, and their Affiliates, have significant prior experience in acquiring and managing both self storage facilities and manufactured housing communities having amassed, through Prior Funds, a portfolio of more than 280 assets representing in excess of 40,000 units in more than 30 states.
The members of the Manager, and their Affiliates, have significant prior experience in acquiring and managing self storage facilities and is estimated to be a Top 50 operator. Senior management of the Dahn Corporation, an affiliated company, (“Storage Team”) has almost 150 years of combined self storage experience. The Storage Team has worked together for over 25 years. During this time, the Storage Team has built or purchased over 5 million square feet of self storage properties located throughout the United States. Since inception, the Dahn Corporation has acted as the property manager to over 95 self storage facilities and the total number of units it has owned and/or operated has exceeded 55,000. Over that time, the Storage Team has rented over 500,000 units.
In addition to self storage facilities, the members of the Manager, and their Affiliates, have significant prior experience in acquiring and managing manufactured housing communities. They are estimated to own and/or operate the 5th largest number of MHCs, with an excess of 250 MHCs containing over 25,000 lots under management in 29 states.
www.elevationfund.comPerformance of Prior Funds (as of 3/6/2017)(1)
The members of the Fund Manager (and their affiliated companies) have been active in mobile home park investing for approximately two decades. Since 2010, they have raised more than $150 million from private investors for 15 funds. However, as with any investment, past performance is no guarantee of future results.
MHPI I | MHPI II | MHPI III | MHPI IV | MHPI V(2) | AHCF 6(2) | MHCA(2) | |
---|---|---|---|---|---|---|---|
Date Fully Subscribed | Feb-10 | Nov-10 | Feb-14 | Nov-14 | Aug-15 | May-16 | May-17 |
Capital Raised | $2M | $5M | $10M | $15M | $19.2M | $50M | $58.8M |
Capital Returned | $500k | $750k | $0 | $0 | $0 | $0 | $0 |
Unreturned Capital | $1.51M | $4.2M | $10M | $15M | $19.2M | $50M | $58.8M |
Current MHCs Owned Fully | 3 | 3 | 1 | 9 | *(3) | 15 | 12 |
Current MHCs Owned Partially | 1 | 11 | 18 | 10 | *(3) | 47 | 14 |
MHC Lots (Ownership % Adjusted) | 397 | 508 | 1,010 | 1,365 | *(3) | 4,356 | 2,652 |
Occupancy % | 87% | 76% | 78% | 81% | *(3) | 80% | 80% |
(1) This information has been provided by the Fund Manager and has not been verified by Realty Mogul or North Capital Private Securities. As with any investment, past performance is no guarantee of future results.
(2) Operating less than a year and still in the acquisition phase.
(3) Fund-of-Funds that invested into AHCF 6, LLC, MHCA and Self Storage Fund
Distribution History for of Prior Storage Programs (as of 3/6/2017)(1)
As of the date of this Offering, 28 properties are currently operating, representing over 16,000 units in California, Colorado, Florida, Georgia, Maryland, Michigan, New Jersey, Texas and Virginia. The table below summarizes the currently operating self storage properties developed or acquired by the Managers or its Affiliates since 1981.
Location | Development or Acquisition | Approx # of Units(1) | Approx. Sq. Footage | Offering Date | Capital Raised |
---|---|---|---|---|---|
Atascadero, CA | Development | 450 | 47,000 | 1981 | $250,000 |
Denver, CO | Development | 650 | 54,000 | 1983 | $300,000 |
Denver, CO | Acquisition | 800 | 80,000 | 1984 | $1,025,000 |
Denver, CO | Acquisition | 475 | 67,000 | 1989 | $250,000 |
Highlands Ranch, CO | Acquisition | 425 | 40,000 | 1991 | $400,000 |
Livonia, MI | Acquisition | 600 | 73,000 | 1991 | $375,000 |
Newport Beach, CA | Development | 900 | 85,000 | 1994 | $913,000 |
Highlands Ranch, CO | Development | 525 | 50,000 | 1994 | $600,000 |
Littleton, CO | Development | 490 | 56,000 | 1996 | $610,000 |
Novi, MI | Development | 600 | 59,000 | 1996 | $465,000 |
Warren, MI | Development | 375 | 43,000 | 1997 | $322,478 |
Columbia, MD | Development | 1,125 | 147,000 | 1997 | $1,265,000 |
Livonia, MI | Development | 440 | 47,000 | 1997 | $385,022 |
Alexandria, VA | Acquisition | 400 | 23,000 | 1998 | $250,000 |
Newport Beach, CA | Development | 750 | 64,000 | 1998 | $557,500 |
Maple Shade, NJ | Development | 425 | 45,000 | 1998 | $1,175,000 |
Woodbridge, VA | Development | 540 | 58,000 | 1999 | $219,000 |
Centreville, VA | Development | 920 | 87,000 | 1999 | $1,000,000 |
Berlin, NJ | Development | 450 | 49,000 | 2000 | $1,375,000 |
Brick Township, NJ | Development | 860 | 87,000 | 2001 | $750,000 |
SpringQield, VA | Acquisition | 575 | 54,000 | 2003 | $2,933,216 |
Fairfax Station, VA | Acquisition | 775 | 78,000 | 2003 | $2,885,113 |
Bradenton, FL(2) | Acquisition | 550 | 43,000 | 2014 | $3,932,000 |
Vacaville, CA(2) | Acquisition | 450 | 40,000 | N/A | N/A |
Crowley, TX(3) | Acquisition | 440 | 66,000 | 2014 | N/A |
Boynton Beach, FL(4) | Acquisition | 625 | 75,000 | 2015 | N/A |
Tomball, TX(5) | Acquisition | 625 | 82,000 | 2015 | $4,969,857 |
Athens, GA(6) | Acquisition | 705 | 122,225 | 2016 | $4,692,279 |
Total | 16,945 | 1,821,225 | $31,899,465 |
(1) The number of units located at property is subject to change over time related to the leasing needs of a particular property.
(2) Bradenton, FL and Vacaville, CA were acquired as part of Dahn America360 Storage DST. See Bradenton, FL line item for the aggregate Capital Raised and Cumulative Distributions & Return of Capital for Dahn America360 Storage DST.
(3) Crowley, TX was acquired by Fund I in 2014, thus the Offering Date represents the acquisition only, and there is no separate Capital Raised or Cumulative Distributions & Return of Capital.
(4) Boynton Beach, FL was acquired by Fund I in 2015, thus the Offering Date represents the acquisition only, and there is no separate Capital Raised or Cumulative Distributions & Return of Capital.
(5) Tomball, TX was acquired as part of Dahn America360 Storage II DST in December 2015.
(6) Athens, GA was acquired as part of Dahn America360 Storage III DST in April 2016.
In this transaction, RealtyMogul.com investors will invest in Realty Mogul 92, LLC (the "Company"). The Company will invest in MHPI VII, LLC (the "Fund") which has been assembled to acquire and reposition Manufactured Housing Communities ("MHCs") and Self Storage Facilities ("SSFs"). The Fund will be a "semi-blind" fund as prospective members of the Fund can see the SSFs that have already been acquired by the Fund, but all future acquisitions have not yet been identified or acquired.
The Fund's primary strategy is to acquire, add value, and reposition MHCs and SSFs that are currently generating income, yet are under-valued, under-managed, under-performing, and/or improperly capitalized. MHPI VII Manager, LLC (the "Fund Manager") intends to devise turnaround plans for each MHC that should maximize cash flow and appreciation.
The goal at each MHC is for each resident to own their home, while the Fund owns and maintains the underlying land and infrastructure such as roads, utilities, and amenities (if any). The Fund Manager believes this owner-resident relationship, and the fact that MHCs aren’t actually very mobile (due to the high cost and risk to move them), leads to resident longevity and other unique investment advantages. Furthermore, they feel MHCs provide a potential solution to one of America’s long-standing yet growing problems – the lack of affordable housing. Yet, at the same time, there is a limited supply of new MHCs and a high barrier-to-entry for new MHC development. The Company intends to co-invest with MHC America Fund, LLC and may also co-invest in similar funds owning mobile home parks.
Per the Fund Manager, the average length of a self storage tenant's stay is 2.7 years while the tenant base covers a large segment of the population as most people will need storage at some point in their life. Rents can be raised on every tenant with 30 days notice (the same is true for MHCs) and self storage operating expenses can be lower than other types of real estate. Most SSFs have very little plumbing or electricity, so they are not as impacted by increases in utility rates and the building are generally masonry or metal with limited amenities or common areas, reducing both operating costs and capital expenditures.
The Fund intends to refinance the properties within a 3-5 year period in order to return a substantial portion of capital. Please refer to the Distributions section of the Financial tab of this offering and page 201 of the attached PPM for more detail on the Fund's return objectives and preferred return structure. The Fund's exit strategy for individual MHCs and SSFs is to sell them once repositioned when the Fund Manager believes their values have peaked and market conditions are deemed to be favorable for a sale. The duration of the Fund may be up to 10 years, or possibly longer, unless a completed roll-up transaction or initial public offering occurs prior.
RealtyMogul.com, along with MHPI VII Manager, LLC (the "Fund Manager") are providing the opportunity to invest in MHPI VII, LLC (the "Fund").
The investment objective of the Fund is to assemble a diversified portfolio of cash-flowing Manufactured Housing Communities ("MHCs") and Self Storage Facilities ("SSFs") across the United States.
The Fund Manager considers this an investment that offers both the possibility of immediate cash flow and the potential for longer term capital appreciation.
As of July 27, 2017, the Fund has acquired three SSFs, the details of which are outlined in the table below.
Property Name | City | State | Purchase Price | Total # of Units | Total Square Footage |
---|---|---|---|---|---|
Melbourne Mini U Storage | Melbourne | FL | $14,650,000 | 1,049 | 128,000 |
Palm Bay Mini U Storage | Palm Bay | FL | $5,600,000 | 490 | 64,000 |
Virginia Beach Mini U Storage | Virginia Beach | VA | $6,800,000 | 380 | 62,000 |
Total | $27,050,000 | 1,919 | 254,000 |
Not available for nationwide fund.
The Fund Manager intends to acquire MHCs and SSFs throughout the United States. They tend to target either larger markets or smaller growth markets with diversified employment. Locations having metro populations from 10,000 to 2,000,000 or more are typical, with a general concentration likely occurring in the Midwest, Southeast and Great Plains regions. The members of the Fund Manager (and their affiliated companies) currently own and manage MHCs in 29 states and have built or purchased over five million square feet of SSFs.

Sources of Funds | |
Debt (2) | $92,857,143 |
Equity | $50.000.000 |
Total Sources of Funds | $142,857,143 |
Uses of Funds | |
Purchase Prices | $135,714,286 |
Acquisition Fees | $1,357,143 |
Placement Fees, Organizational and Offering Expenses, and FundAmerica Fees | $5,428,571 |
Total Uses of Funds | $142,857,143 |
(1) - Note the above is only a representation of the possible capitalization based on the fund maximum offering total of $50M. The capitalized costs and structure is a reflection of the fees and allocations as laid forth by the Fund Manager detailed herein. Realty Mogul has assumed an allocation of $2M.
(2) - The Fund manager anticipates bank or seller financing will generally account for 60%-70% of the gross fair market value of each asset, with a maximum portfolio LTV of 75%.
The Manager anticipates that proposed loans for individual Properties will have an average loan to value ratio of between approximately sixty percent (60%) and seventy percent (70%) of the gross fair market value of each Property, with a maximum loan to value ratio of seventy-five percent (75%) of the Company’s Property portfolio
There can be no assurance that a lender will provide debt on the rates and terms noted above, or at all. All rates and terms of the debt financing are subject to lender approval, including but not limited to possible increases in capital reserve requirements for funds to be held in a lender controlled capital reserve account.
MHPI Manager, LLC (the "Fund Manager") intends to make distributions to Realty Mogul 92, LLC (the "Company") as follows:
Order of Distributions to the Company (Net Operating Cash Flow)
- First, to the Company until a cumulative, preferred annualized return is received. This cumulative, preferred annualized return will vary depending on the respective year of the hold as follows:*
- Year 1: 8%
- Year 2: 9%
- Year 3 - 10 +: 10%
- Any excess balance will be split 60% to the Company, based on its ownership of the Fund, and 40% to the Fund Manager
Order of Distributions to the Company (Refinance Proceeds) **
- 70% to the Company, based on its ownership of the Fund, and 30% to the Fund Manager
Order of Distributions to the Company (Sales Proceeds) **
- First, to the Company until a return of one hundred percent (100%) of its initial capital contribution is received;
- Second, to the Company until any unpaid, accrued cumulative, preferred annualized return is received.
- Third, to the Fund Manager for any deferred and accrued asset management fees earned
- Any excess balance will be split 60% the Company, based on its ownership of the Fund, and 40% to the Fund Manager
* Investments made into the Fund are subject to a 30 day waiting period until the preferred return begins to accrue.
** The Fund Manager may decide to use some or all of the proceeds from a capital event (i.e., refinance or sale): a) to purchase additional properties; or b) to increase reserves, improve existing properties, or pay down debt owed by the Fund. Proceeds from a capital event may only be used for additional acquisitions within the first five (5) years of the Fund. Distributions of all or any portion of Refinance or Sales Proceeds shall be made within 45 days after the end of a fiscal year.
The manager of the Company will distribute 100% of its share of excess cash flow (after expenses and fees) to its members (the Realty Mogul 92, LLC investors). Upon the sale or exchange of the last Property, the Fund Manager shall contribute prior distributions of Net Operating Cash Flow and Refinancing Proceeds it has received from the Company to the extent that all distributions to the Fund Manager, determined on a cumulative basis, exceed the amount that would have been distributed to the Fund Manager if all distributions had been made treated as Sales Proceeds. Any such excess amounts contributed by the Fund Manager shall be distributed to the Company as Sales Proceeds.
Distributions to Realty Mogul 92, LLC investors are expected to start in June 2018 and are expected to continue on a quarterly basis thereafter. Distributions will be evaluated on a monthly basis by the Fund Manager. The Fund Manager will strive to make monthly distributions, although the Fund Manager shall, at a minimum, make annual distributions. These distributions are at the discretion of the Sponsor, who may decide to delay distributions for any reason, including maintenance or capital reserves.
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: | ||||
---|---|---|---|---|
Acquisition Fee | Up to 1.0% of total acquisition cost | Fund Manager | Capitalized Equity Contribution | Paid at the closing of each respective property acquisition |
Loan Fees (if required by lender) |
Loan Guarantee Fee - Up to 2.5% of loan amount Limited-Recourse Guarantee Fee - Up to 0.75% of loan amount |
Any party providing a personal guarantee | Capitalized Equity Contribution and/or Operating Cash Flow | The Loan Guarantee Fee will be paid in equal installments over the term of the loan. If the loan is refinanced prior to maturity, the remaining scheduled payments associated with that loan will no longer be due. |
Placement Fees | Up to 6.0% of gross proceeds from capital raised | Various broker-dealers | Capitalized Equity Contribution | This fee is an estimate of what will be paid to broker-dealers for equity placement. 4.0% of the amount invested by the Company into the Fund will be paid to North Capital(1). |
Fund Offering Fees | 5.0% of gross proceeds from capital raise (including Placement Fees described above) | FundAmerica, various broker-dealers | Capitalized Equity Contribution | In addition to the Placement Fees above, these fees include FundAmerica fees, Organizational and Offering Expenses, and Selling Commissions. |
Recurring Fees: | ||||
Property Management Fee | 5.0% of the gross revenues generated by each property | Dahn Corporation, an affiliate of the Fund Manager | Operating Cash Flow | |
Construction Management Fee | 5.0% of any amount expended for construction or repair projects up to $50,000, 4.0% for projects $50,000-100,000, and 3.0% for projects over $100,000 | Dahn Corporation, an affiliate of the Fund Manager | Operating Cash Flow | No construction management fees will be paid for construction related to the development of a property |
Asset Management Fee | Up to 1.0% of the real estate asset value | Fund Manager | Operating Cash Flow | Fee based on total acquisition costs of all assets in the fund. If an appraisal is completed on any of the assets, the greater of the two values will then be used for this calculation. |
Management and Administrative Fee |
1.0% of amount invested in Realty Mogul 92, LLC |
RM Manager, LLC | Distributable Cash | Fee based on amount invested in the Company. RM Manager, LLC is the manager of the Company and a wholly-owned subsidiary of Realty Mogul, Co. (2) |
Disposition Fee |
Up to 1.0% of sale price | Fund Manager | Upon sale of property(ies) | May only be earned on a sale that would be profitable to the Fund after such fee was paid |
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 Fund Manager or others. Realty Mogul, Co., RM Manager, LLC, and Realty Mogul 92, 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.
Review of Fund PPM
Before making any investment decision, potential investors in the Company should carefully review the Private Placement Memorandum of the Fund (“PPM”), including but not limited to the Risk Factor section of the PPM and all exhibits of the PPM. The PPM contains additional risk factors and information regarding the Fund that are not contained herein.
Competition Could Impact Occupancy or Market Rental Rates of Mobile Home Parks
Properties owned by the Fund will compete with other housing alternatives to attract residents, including other mobile home parks, apartments, condominiums and single-family homes that are available for rent or sale. Competitive residential housing in a particular area could affect the Fund’s ability to sell its mobile homes, rent its mobile home lots for occupancy, and/or to increase or maintain lot rental rates. Improvements to each investment property planned by the Fund will be designed to make them more attractive to new and existing occupants, in hopes of creating a competitive advantage as compared to other housing alternatives in the marketplace.
Market and Economic Conditions May Impact Revenue from Property Operations
Local conditions in the market of each mobile home park may significantly affect occupancy, rental rates, and the operating performance of a property. The risks that may adversely affect properties include the following:
- Plant closings, industry slowdowns and other factors that affect the local economy.
- An oversupply of, or a reduced demand for, mobile homes.
- A decline in household formation or employment or lack of employment growth.
- Rent control or rent stabilization laws, or other laws regulating mobile home parks, that could prevent the Fund from raising lot rents or selling mobile homes.
- Economic conditions that could cause an increase in the Funds’ operating expenses, such as increases in property taxes, utilities, compensation of on-site associates and/or routine maintenance.
The Fund and Manager of the Fund Will Rely on Local Property Managers and Contractors
The Fund has no independent ability or resources to manage or renovate each property it acquires. The Fund will engage and rely on local property managers or contractors to manage each property and make renovations. The manager of the Fund is expected to attempt to screen potential property managers and/or local contractors in much the same manner as screening new tenants and buyers, by carefully reviewing past experience, qualifications, and references and ensuring that contracts with such persons have appropriate termination clauses in the event of default.
Concentration
While the Fund Manager's stated objective is to assemble a diversified portfolio, there can be no assurances that the Fund will not be subject to concentration risk. The real estate market generally, and the Fund Manager's strategy in particular, may result in certain opportunities representing an outsized proportion of the total fund. The success or failure of such transactions may have a correspondingly outsized effect on the rates of return for investors in the Fund. Additionally, there can be no assurances regarding the extent of any correlation among all or any set of the Fund's acquisitions.
Separate Class of Interests
There are Class A and Class B interests in the Fund which have different rights and obligations. Class B interest holders are subject to a minimum investment of $50,000. The Company and other Class A interest holders are subject to a minimum investment of $250,000. The rights and obligations are more fully described in the PPM.
Lack of Control and Limited Voting Rights
The manager of the Fund will make all decisions with respect to the management of the Fund. The members will have no right or power to take part in the management of the Fund and, except as expressly provided in the PPM, will not have voting rights. The Fund Manager may be removed only under certain limited conditions set forth in the PPM.
Investment Timing
There will likely be a timing delay between the investment in the Company by an investor and the investment in the Fund by the Company. The information presented by the Company assumes that any such timing delay will not have a material impact on the members of the Company. However, if such delay is long or if the Fund makes distributions immediately prior to the investment date by the Company into the Fund, such timing delays could be material.
Uncertainty Surrounding Future Sales Price
There is risk associated with the Sponsor being unable to sell the mobile homes in the Fund as anticipated.
Interest Rate Risk
The Federal Reserve has methodically reduced the amount of stimulus it was earlier injecting into the U.S. economy, and has signaled that increases in the federal funds rate may be forthcoming. This could potentially lead to rising interest rates offered by other lenders and could have a negative effect on the future value of the Fund (since higher loan interest rates might mean that potential buyers would face proportionately higher debt service expenses).
Management Risk
Investors will be relying solely on the general partner of the Fund for the execution of its business plan. That general partner in turn may rely on other key personnel with relevant experience and knowledge, including contractors and consultants. Members of the Fund (including Realty Mogul 92, LLC) will agree to indemnify the managers in certain circumstances, which may result in a financial burden if any litigation results from the execution of the business plan. Investors will be relying solely on the Fund Manager for the execution of its business plan. The Fund Manager may rely on other key personnel with relevant experience and knowledge, including contractors and consultants.
Tornado Risk
Some of the Fund’s properties are expected to be located in areas of the United States that are subject to frequent and sometimes destructive tornadoes or other environmental catastrophes. There can be no assurance that a sizable tornado or other environmental catastrophe will not cause significant damage to one or more of the properties, in which case the business and financial condition of the Fund could be materially adversely affected.
Hurricane Risk
Some of the Fund’s properties are expected to be located in areas of the United States that are subject to frequent and sometimes destructive hurricanes. There can be no assurance that a sizable hurricane will not cause significant damage to the properties, in which case the business and financial condition of the Fund could be materially adversely affected.
Mortgage Risk
The Fund Manager is seeking financing and intends to work with appropriate lenders to complete the debt portion of future transactions for the Fund. Financing risk is inherent in the mortgage lending industry, and there can be no assurance that lenders will complete financing on rates and terms that are reasonable or forecasted. If the debt financing on acquisitions does not occur as anticipated there may be an adverse impact on the Fund’s performance.
Fluctuations in Interest Rates
Mortgage loans will be taken out on the properties owned by the Fund. Mortgage loan interest rates may be significantly affected by economic downturns or general economic conditions beyond the Company’s control and beyond the control of the Fund Manager. Any change in interest rates may drastically affect the value of your investment in the Company. Some of the properties may employ partial interest-only financing. By delaying principal payments, interest-only mortgages can make refinancing more difficult at maturity and increase the risk of the investment opportunity.
General Economic and Market Risks
Local conditions in the markets may significantly affect occupancy, rental rates, and the operating performance of each property. These risks include plant closings, industry slowdowns, and other factors that could potentially affect the local economy. Rent control or rent stabilization laws, or other laws regulating single family homes, could also prevent the Fund raising rents or selling homes. Adverse economic conditions such as increases in property taxes, utilities, compensation for on-site associates and routine maintenance could cause an increase in the Fund’s operating expenses, which would negatively affect the fund’s financial performance.
Forward-Looking Statements
Investors should not rely on any forward-looking statements made regarding this opportunity, because such statements are inherently uncertain and involve risks. We use words such as “anticipated”, “projected”, “forecasted”, “estimated”, “prospective”, “believes”, “expects”, ”plans”, “future”, “intends”, “should”, “can”, “could”, “might”, “potential”, “continue”, “may”, “will” and similar expressions to identify these forward-looking statements.
Illiquid Investment - Transfer Restrictions & No Public Market
The transferability of membership interests in the Company are restricted both by the operating agreement for that entity and by U.S. federal and state securities laws. In general, investors will not be able to sell or transfer their interests. There is also no public market for the investment interests and none is expected to be available in the future. Persons should not invest if they require any of their investment to be liquid. This is particularly important for persons of retirement age, who should plan carefully to assure that their assets last throughout retirement.
Uncertain Distributions
The Fund Manager cannot offer any assurances that there will be sufficient cash available to make distributions to its members (including the Company) from either net cash from operations or proceeds from the sale or refinancing of the asset. The Fund Manager, in its discretion, may retain any portion of such funds for tenant improvements, tenant refurbishments and other lease-up costs or for working capital reserves. Distributions will be evaluated on a quarterly basis by the Fund Manager. The Fund Manager will strive to make quarterly distributions, although in the event the Fund is unable to make distributions on a quarterly basis, then the Fund Manager shall, at a minimum, make annual distributions.
The above is not intended to be a full discussion of all the risks of this investment. Please see the Risk Factors in the Issuer Document Package for a discussion of additional risks.
The above presentation is based upon information supplied by the Fund Manager and others. Realty Mogul, Co., RM Manager, LLC, and Realty Mogul 92, 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.