blu dot property group
real estate investment opportunity overview
goal:
To compile a specific group of potential investors to help us acquire properties in and around Franklin in order to pursue the welfare of the city.
who we are:
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Grant
My family and I moved to Franklin five years ago because we fell in love with the city, with its people, and with the development and growth that we saw happening here. Our first desire to bless the city was to plant a healthy church that would teach God's word, proclaim the gospel, and be a blessing to the city. However, we wanted our ministry to be more than what was happening in and through our church. We wanted to be engrained and intertwined with the people and to serve them in multiple ways. God answered our prayers and desires by providing an opportunity for me to use my medical training at the hospital in town, where I continue to develop relationships and serve through my part-time work in the healthcare field. We now also see an opportunity to seek the welfare of our city by providing quality, affordable housing that is managed with integrity and care.
A passage of scripture that has resonated with me through this process is from the book of Jeremiah, where God is speaking to his people who have been exiled to Babylon:
It is written in Jeremiah 29:4–7 (ESV): 4 “Thus says the LORD of hosts, the God of Israel, to all the exiles whom I have sent into exile from Jerusalem to Babylon: 5 Build houses and live in them; plant gardens and eat their produce...6b... multiply there, and do not decrease. 7 But seek the welfare of the city where I have sent you into exile, and pray to the LORD on its behalf, for in its welfare you will find your welfare." This is a beautiful picture of planting deep roots in the city, and this endeavor is going to be our next step into engaging the city and seeking its welfare.
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Kevin
After graduating from UIndy, I quickly found myself in the world of Entrepreneurship and have "lived" there ever since. Over the past 11 years as I've bought and sold multiple companies, my passions have continued to grow more heavily toward ministry, where I joined Grant in the plant of Franklin City Church. I still have my original company from 2008, in which I primarily consult in the areas of Strategy and Marketing. As the call of ministry has grown, I've made it a goal to keep the shepherding of people my #1 focus because it satisfies me more than anything else. Upon joining the church staff in a part-time role, I had some available time and started thinking about pursuing real estate. After researching and seeking wise counsel from trusted sources, nothing specific presented itself as a good entry into the industry until eventually talking with Grant about his desire to pursue real estate investing through a lens of missions. It deeply excited me and was the perfect type of approach to the real estate world that suddenly had a worthwhile value to me. It was evident that Grant and my hearts were stirred separately in the same way with a heavy emphasis on the welfare of the city. Around that time, as I was studying through the book of Esther, one minor part really jumped out to me for the first time: a small piece at the end about Mordecai and the legacy he left. One of the things pointed out about him is that he purposefully sought the welfare of the people, seemingly looking out for their best interests, and that was emphasized as being a significant part of who he was and how he was viewed among the people.
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where we go from here:
As we prayerfully considered how to move forward, we believed that God was leading us to pursue real estate in a very specific way. And while real estate is a fairly new venture for us, we are thankful for the experience we have that will translate well in this arena. We have spent years serving people through business, healthcare, and ministry outlets, so managing people and projects, stewarding finances, starting something new, serving people, and collaborating with multiple people on a common goal isn't anything new at all. God has also provided trusted networks of people around us that we can learn from and lean on heavily as we go.
We officially started a real estate company - blu dot property group - and Kevin has recently obtained his Real Estate Broker License, which has helped us gain knowledge of the industry and will give us access to better properties and better investment opportunities. Franklin is a growing community with a need for more quality and affordable housing options, and we're excited to play a part in that with your help.
The ultimate win-win-win scenario:
We envision providing opportunities for tenants to have quality, affordable housing, contractors to have more work, and our investors to have an opportunity to see their wealth grow greater than it would in other places.
On the ground level, this will be an opportunity for us to continue to establish relationships with others in the community and spread the light of Christ in yet another sphere of influence.
We officially started a real estate company - blu dot property group - and Kevin has recently obtained his Real Estate Broker License, which has helped us gain knowledge of the industry and will give us access to better properties and better investment opportunities. Franklin is a growing community with a need for more quality and affordable housing options, and we're excited to play a part in that with your help.
The ultimate win-win-win scenario:
We envision providing opportunities for tenants to have quality, affordable housing, contractors to have more work, and our investors to have an opportunity to see their wealth grow greater than it would in other places.
On the ground level, this will be an opportunity for us to continue to establish relationships with others in the community and spread the light of Christ in yet another sphere of influence.
the process:
The strategy that best fits what we're passionate about is sometimes called the BRRRR method (Buy, Rehab, Rent, Refinance, and Repeat).
We will first locate a property that meets our detailed criteria, and then we will contact our pool of potential investors to see who wants in on that specific deal. We'll operate on a first-come, first-served basis since most of these will be cash deals and will have some urgency attached with them. This is also why we want to have a pool of potential investors involved from the start. When we send out a potential deal, it will be via email, and depending on the timing, it might not be a good fit for you on that one, but perhaps the next one will fit you better.
We'll buy the property with private, interest-only loans (more on that below).
Next, we will rehab the property to substantially raise its value and rentability.
We will seek out a tenant during rehab, and we will rent it out once it's ready.
After owning the property for 6 months, and if the rehab is done by then, we will do a cash-out refinance from a traditional lender.
We will then pay back the investors in full and repeat with the next property.
We will first locate a property that meets our detailed criteria, and then we will contact our pool of potential investors to see who wants in on that specific deal. We'll operate on a first-come, first-served basis since most of these will be cash deals and will have some urgency attached with them. This is also why we want to have a pool of potential investors involved from the start. When we send out a potential deal, it will be via email, and depending on the timing, it might not be a good fit for you on that one, but perhaps the next one will fit you better.
We'll buy the property with private, interest-only loans (more on that below).
Next, we will rehab the property to substantially raise its value and rentability.
We will seek out a tenant during rehab, and we will rent it out once it's ready.
After owning the property for 6 months, and if the rehab is done by then, we will do a cash-out refinance from a traditional lender.
We will then pay back the investors in full and repeat with the next property.
interest-only loan explanation:
Interest-only loans pay out the interest amount monthly until the maturity date, in which the final interest payment is made plus the original principal.
Our minimum loan duration is 6 months, and the maximum is 24 months (depending on the rehab time and tenant placement). Other notable items:
The first interest payments will be made in the 2nd month after the origination date (paid in arrears).
Each loan will be secured with a Promissory note between lender and us that we will provide via email for you to give an e-signature on.
The minimum loan amount that we'll work with will be $12,000.
A sample loan summary is below:
Our minimum loan duration is 6 months, and the maximum is 24 months (depending on the rehab time and tenant placement). Other notable items:
The first interest payments will be made in the 2nd month after the origination date (paid in arrears).
Each loan will be secured with a Promissory note between lender and us that we will provide via email for you to give an e-signature on.
The minimum loan amount that we'll work with will be $12,000.
A sample loan summary is below:
the risk:
There is a level of risk on any investment. Anytime you invest your money with someone, you want to know that you can trust them with it. All our decisions with your money and our money will be made prayerfully, conservatively, slowly, and only after seeking an abundance of counselors.
We are committed to seeing our investors paid back first before we would see any money from the deal. We are committed to a patient, conservative approach with properties that will ideally have equity at the time of purchase as well as forced equity with the rehab. This makes the investment very low risk and very short-term for our investors. We will also keep very transparent accounting specific to each project and will share that willingly with you at any time on any project you invest with us on.
We are committed to seeing our investors paid back first before we would see any money from the deal. We are committed to a patient, conservative approach with properties that will ideally have equity at the time of purchase as well as forced equity with the rehab. This makes the investment very low risk and very short-term for our investors. We will also keep very transparent accounting specific to each project and will share that willingly with you at any time on any project you invest with us on.
Thanks so much for taking the time to read through this. Please know that you were specifically selected to be a part of this, as we're trying to keep our investor pool fairly small with people we trust and respect.
If you know others who might be interested in this, please pass their info along to us after getting their permission. If we feel that we need a larger pool, we will consider adding them to the list at a later time.
-Grant and Kevin
If you know others who might be interested in this, please pass their info along to us after getting their permission. If we feel that we need a larger pool, we will consider adding them to the list at a later time.
-Grant and Kevin