Multiplying Acres With Every Byte
Multiplying Acres With Every Byte
Joint Venture
Become a part of Austin’s future
ACRE-BYTES JOINT VENTURE
“COMING TOGETHER IS A BEGINNING, STAYING TOGETHER IS PROGRESS, AND WORKING TOGETHER IS SUCCESS” - HENRY FORD
| PARTNER REQUIREMENTS | SUBSCRIBER REQUIREMENTS |
|---|---|
| ❏ ANNUAL INCOME OF $500K+/YEAR | ❏ SUBSCRIBER UNDERSTANDS THE RISK ASSOCIATED WITH INVESTMENT & HAS THE FINANCIAL MEANS TO MEET THE OBLIGATIONS |
| ❏ FINANCES OF > $1M+ | ❏ SUBSCRIBER IS ABLE TO PARTICIPATE IN THE VENTURE FOR 2 TO 3 YEARS AND FULFILL THE OBLIGATIONS |
| ❏ SHARE 3 YEAR FINANCIAL & TAX STATEMENTS WITH BANKS | |
| ❏ DEBT/CREDIT RATIO, CREDIT SCORE | |
| ❏ NO DELINQUENCIES/BANKRUPTCIES | |
| ❏ PERSONAL REPUTATION & REFERENCES IN COMMUNITY |
WE ENCOURAGE OUR SUBSCRIBERS TO BECOME PARTNERS IN FUTURE VENTURES
ACRE-BYTES ROLE IN INITIATING A JOINT VENTURE
❏ IDENTIFY TARGET PARCELS
Conduct market research based on prices and demand. Work with realtors to target parcels
❏ FINANCING
Identify the right banking partner for the deal and start the process
❏ CONTRACT & EARNEST MONEY
Sign contract & deposit earnest money
❏ IDENTIFY QUALIFIED PARTNERS Align partners that will help qualify and guaranty the loan
❏ DUE DILIGENCE
Work with engineer to get due diligence on the target parcel
❏ INVESTOR/PARTNER ALLOCATIONS
Identify allocations for partners and investors including pricing model and create a high level joint venture strategy.
❏ ASSIGN CONTRACT
Once Partners are identified and
qualified assign contract to new LLC with a 1% assignment fee
ACRE-BYTES ROLE IN PARTNER LLC
❏ 50% ALLOCATION
ACRE-BYTES will be responsible for getting 50% of the allocated investors and also responsible for 50% of the partner allocation dues
❏ INVESTOR COMMUNICATION
ACRE-BYTES will draft the subscription agreements for investors ACRE-BYTES will help list property for sale
❏ MARKETING SLIDES/DECKS
ACRE-BYTES will help create the
Marketing slides & Venture slides
❏ BANK/LLC/CPA
ACRE-BYTES will lead bank engagement ACRE-BYTES will create LLC’s/Accounts.
ACRE-BYTES will work with CPA
❏ ADDITIONAL INVESTOR ALLOCATION
ACRE-BYTES will help bring additional investors for a fee of $1000/Acre paid at Sale
❏ MANAGEMENT FEE
ACRE-BYTES will be paid 3% of the final
Sales price upon Sale of the property
PARTNER RESPONSIBILITY IN JOINT VENTURE
❏ SUBMIT FINANCIALS
Ensure that all paperwork is submitted to the bank in a timely manner and meeting banking requirements
❏ ENGAGE WITH INVESTORS
Partners are responsible to bring investors to the Joint Venture
❏ PARTICIPATE
It is essential that partners are aligned and show solidarity in all meetings are available
❏ TIMELINES AND MILESTONES
Ensure active participation in putting together the timelines and milestones
SUBSCRIBER RESPONSIBILITY IN JOINT VENTURE
❏ ASK QUESTIONS
Keep partners engaged with questions regards to the venture
❏ DUES
Ensure timely payments without reminders.
❏ SUBSCRIPTION AGREEMENT
Review subscription agreements and get Counsel if required. Understand verbiage and Accept by Signing
❏ QUARTERLY ENGAGEMENTS
Participate in the meetings. Ensure quarterly dues are paid on time
❏ SALE/CLOSING
Provide your vote prior to contract signing
❏ FEEDBACK
Provide feedback on the process