RealtyeVest has a stake in all real estate investments offered in our marketplace.
RealtyeVest is offering accredited investors the opportunity to invest in a purchase-renovate and sell project in Ewing NJ. Ewing is part of the Trenton-Ewing market and moreover part of the greater New York MSA.
The home is currently unoccupied and off-market. It was in the process of going through the Estate Sale process before the sponsors stepped in and were able to successfully execute a contract with the seller at a considerable discount compared to market.
The home was previously owned by a general contractor who was able to properly maintain the home in good condition. The previous owner also installed many custom wood trim upgrades to the interior of the home. The sponsors plan to update the interior, however the bulk of the budget will be spent on landscaping to greatly enhance curb appeal as the interior is all cosmetic work, i.e. paint, switch plates, lighting and plumbing fixture type upgrades.
The property is under contract for purchase at $195,000, a rehab budget of $28,000 and an After-Repair Value and planned list price of $309,000.
|Loan Amount $216,000||Loan Terms 180 days||Interest Rate 10% - paid quarterly|
The offering materials to be reviewed and considered by investors with respect to this offering include the information described in the website content relating to this offering (as amended and supplemented through and until the closing of the transaction) and the subscription agreement relating to such securities (see the "Documents" tab). We refer to all of this information collectively as the "Property Information Package". Investors should review the Property Information Package in its entirety before investing and should consult with appropriate legal, tax, and investment advisors. Please note that RealtyeVest is not serving as your fiduciary or advisor with respect to this opportunity.
Below are certain risks associated with this investment that should be carefully reviewed prior to any investment in this opportunity:
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. Similarly, the financial forecasts contained herein and in any other offering materials are based on numerous assumptions. Although these assumptions are believed to be reasonable, they are all subject to uncertainty. Non-Transferability of Notes: The transferability of the Company's Notes is restricted both by the subscription agreement for that entity and by U.S. federal and state securities laws. In general, investors will not be able to sell or transfer the Notes. There is also no public market for the Notes and none is expected to be available in the future. Moreover, although there is a defined redemption date for the preferred equity investment in the Fund, an extension option may be exercised and in any event, there can be no assurance that the investment will be liquidated at or promptly after such maturity date (as it may be extended). 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.
Real Estate Market Risk: Investments related to real estate are subject to market valuation risks that may be caused by changing economic and local market conditions such as local real estate market conditions, prevailing interest rates, the rate of unemployment, the level of consumer confidence, the value of the U.S. dollar, energy prices, changes in consumer spending, the number of personal bankruptcies, disruptions in the credit markets and other factors. Such conditions are beyond the control of the Company and of the Fund. Real estate markets are affected by many factors, such as general economic conditions, supply and demand for real estate investments, interest rates, the availability of financing, and other factors, all of which are beyond the control of both the Company and the Fund.
Borrower Credit Risk: The Company’s obligation to make payments on a Note will not be guaranteed for the length of the term corresponding to the borrower’s loan. The Company (and thus investors) will be relying on the borrower for the execution of its business plan in a way that enables the sponsor to repay the principal of the corresponding borrower loan. The borrower may not have a significant record of performance and may be unable to sell or refinance the underlying property in a way that enables the borrower to fulfill its obligations under the corresponding borrower loan. The borrower loan is being made with respect to a property that does not generally meet the financing criteria for conventional mortgages from institutional sources. Credit risk is inherent in the mortgage lending industry, and there can be no assurance that the creditworthiness of the borrower will be sufficient to assure the full repayment of the underlying borrower loan. The Company does not guarantee payment of the Notes or the corresponding borrower loan, and the Notes are not obligations of our borrower.
Ed Cacace III has a diverse background and over 30 years of experience in construction, engineering, and business administration. His education includes a B.S. in Mechanical Engineering from the New Jersey Institute of Technology. He specializes in process design and installation, remedial actions, emergency response, facility start-ups, facility decommissioning, and all phases of residential, commercial, and industrial work.
While going to school, he worked for various construction firms where he participated in building layout and all construction activities. When graduating college, he went to work for the New Jersey Department of Environmental Protection in the Bureau of Construction. Here he managed all aspects of publicly-funded clean-up projects, administered and monitored contracts for compliance with provisions and specifications, and supervised the actual clean-up process. He then worked for CP Chemicals, Inc. where he was Assistant Plant Manager. He oversaw all environmental operations, including permitting, clean-up process and emergency response coordination. He implemented and engineered all new plant processes, including all phases of design and monitored all construction activities. He then formed a partnership with Chris Cacace and combined their experience in the environmental and construction fields to form CAI Builders, LLC.
|Property Address||29 Mountainview Rd Ewing, NJ 08628|
|Property Type||Single Family|
|# of Bedrooms||3|
|# of Bathrooms||3.0|
Ewing, New Jersey is located in the township within the New York Metropolitan Area and in Mercer County.
The numbers for Mercer County really are impressive. The Median age in Mercer County is 38.8 years young. The Median Income is around $72,417 per household, unemployment continues to decline in this area and is down to 3.3% and the Median property value is $283,600.
The housing market within Mercer County has experienced a four percent price growth as well as a four percent increase on sale prices within the last quarter of 2017. Average days on market in this area are 60 days and under, making this an extremely sought after market with high demand and limited supply.
Mercer County is in the Housing Market Area of Princeton University, which is one of the oldest most prestigious universities in the Nation. It generates over 1.58 billion in annual total of economic output and supports over 13,000 jobs totaling over 90 Million in salaries.
Nine companies in the Mercer County region have been named among the 100 Best Places to Work in New Jersey by NJBIZ, a weekly journal covering business in New Jersey.
The companies are Billtrust, Global Planners Inc., Red Nucleus, Rue Insurance and Sparta Systems Inc., Credit Union of New Jersey, UL EduNeering, New Day Underwriting Managers LLC and Novo Nordisk Which was named in the "large companies" category.
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