RentalStarter - A Midwest Real Estate Investment Company

[Branny]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

[VJain]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

[Branny]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

[jjdub7]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

Hmm what about other sources such as BTCjam?  Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates.  The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.

Edit:  Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.

And as always, just throwing out thoughts, Capt'n.

[Branny]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

Hmm what about other sources such as BTCjam?  Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates.  The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.

Edit:  Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.

And as always, just throwing out thoughts, Capt'n.

I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable.

[thehun]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

Hmm what about other sources such as BTCjam?  Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates.  The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.

Edit:  Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.

And as always, just throwing out thoughts, Capt'n.

I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable.

It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan.

[Branny]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

Hmm what about other sources such as BTCjam?  Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates.  The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.

Edit:  Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.

And as always, just throwing out thoughts, Capt'n.

I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable.

It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan.

What's going to be the best way to get connected to investors who are on btcjam? It only allows for facebook references, I can't do a email dump or linkedin dump for that matter.

[jjdub7]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

Hmm what about other sources such as BTCjam?  Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates.  The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.

Edit:  Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.

And as always, just throwing out thoughts, Capt'n.

I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable.

It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan.

What's going to be the best way to get connected to investors who are on btcjam? It only allows for facebook references, I can't do a email dump or linkedin dump for that matter.

To kick it off, you could send out an announcement to shareholders via Havelock with a request for references/Facebook profiles.  Any who are on BTCjam will probably already have their profiles linked.

[VJain]

I have an active verified account over there. I'll comment a vouch on there. Hopefully that'll help out (once you're set up and ready to go).

Great idea on BTCJam jjdub7

[thehun]

Entering the final stages finally for the SEC registration AND the 3rd party audit/accounting firm.

Spent the last 2hrs balancing our books and everything looks pretty good on my part, there's a few errors to correct but nothing overly major. Hopefully from August on, the accounting firm will be releasing the financial performance information along with our internal data so it all can be reconciled.

Great update Branny! How much of a hit will the project finances take from going through all the legal hoops? Are there recurring costs?

Recurring costs will be in the order of a few thousand dollars per year. One-time cost is <$10,000

It isn't something i WANT us to pay for, but with the SEC filings we stand a great chance of attracting VC.

Hmm what about other sources such as BTCjam?  Borrowers like MAC on there regularly pull in 300+ BTC loans at floor-level interest rates.  The group that runs the site is a relatively friendly bunch too, and after a year and a half using the site, I know the community is always eager for trustworthy borrowers.

Edit:  Plus if you pegged it to the BitstampUSD price, you could hedge against price fluctuation in the bitcoin price, parrying the loan against dividends to provide a two-way cash flow.

And as always, just throwing out thoughts, Capt'n.

I need someone to help me walk through it, if it's possible to tie to USD prices I'd loooove to do it as long as rates are semi-reasonable.

It's quite easy once you go through the whole verification process of BTCJam. They will want to see your Facebook, LinkedIn, ebay, etc accounts to verify your identity and some proof of income, and after all that is done (it will take about a week) I (and probably many other investors) will be glad to throw in a positive reference on the site to further increase your credit rating. One you have an A/A+ rating, it will be relatively easy to access a good loan.

What's going to be the best way to get connected to investors who are on btcjam? It only allows for facebook references, I can't do a email dump or linkedin dump for that matter.

To kick it off, you could send out an announcement to shareholders via Havelock with a request for references/Facebook profiles.  Any who are on BTCjam will probably already have their profiles linked.

Yes that's probably the best way to get started. I didn't realize we needed to be connected on Facebook to leave a reference (directly through BTCJam it's only possible to leave ratings to people with whom you made a transaction); but I guess it's no big deal to get befriended and then request a reference.

[NotLambchop]

So...  An Asian company selling unregistered securities to American persons through an unlicensed Panamanian exchange is filing with the SEC.  While trying to raise some scratch on BTCjam because banks won't deal with it.  A couple of months after issuing a second IPO to raise said scratch.

Where to begin...

[Branny]

So...  An Asian company selling unregistered securities to American persons through an unlicensed Panamanian exchange is filing with the SEC.  While trying to raise some scratch on BTCjam because banks won't deal with it.  A couple of months after issuing a second IPO to raise said scratch.

Where to begin...

Buying real estate is expensive. It's the main problem with any real estate related venture, there's very little anyone will ever buy or can buy in their lifetime that's as expensive as a house, yet every single person has to live somewhere.

With the BTCjam venture, we'll have a 3rd party reviewing our income statements in order to look at loaning out on the properties.

As far as the SEC stuff goes, there are few companies trying to do the right thing, and by filing we're trying to put our best foot forward for our investors and improve the legitamacy of the company.

[jjdub7]

So...  An Asian company selling unregistered securities to American persons through an unlicensed Panamanian exchange is filing with the SEC.  While trying to raise some scratch on BTCjam because banks won't deal with it.  A couple of months after issuing a second IPO to raise said scratch.

Where to begin...

Have you read this?  http://www.sec.gov/rules/proposed/2013/33-9470.pdf

[jjdub7]

I have an active verified account over there. I'll comment a vouch on there. Hopefully that'll help out (once you're set up and ready to go).

Great idea on BTCJam jjdub7

Didn't see this before - thanks for the shoutout man

[NotLambchop]

So...  An Asian company selling unregistered securities to American persons through an unlicensed Panamanian exchange is filing with the SEC.  While trying to raise some scratch on BTCjam because banks won't deal with it.  A couple of months after issuing a second IPO to raise said scratch.

Where to begin...

Buying real estate is capital intensive. It's the main problem with any real estate related venture, there's very little anyone will ever buy or can buy in their lifetime that's as expensive as a house, yet every single person has to live somewhere...

Things I learn here...  Did your "8 years in real estate" bring you this wisdom, or did all this just hit you like a ton of bricks, as it is hitting me now?

Anyhow, fascinating info.  Now that we're sharing, I got an amusing yet edifying factoid of my own:  Businesses relying on a continuous influx of money--from "investors" through sequential public offerings or through loans--are collectively referred to as ponzis or, moar formally, pyramid schemes.

These businesses, while paying out "profits" in monthly dividends, are, in fact, not generating any.  Resorting to BTCjam and mooching for loans @14% is either a desperate bid to keep a failing business afloat, or a typical last-grab endgame.

Filing with the SEC is the cherry on top.  Anyone believing this is insane.  If it is, in fact, true--you are.

To your credit, you had me right up 'til the second IPO.

[Branny]

So...  An Asian company selling unregistered securities to American persons through an unlicensed Panamanian exchange is filing with the SEC.  While trying to raise some scratch on BTCjam because banks won't deal with it.  A couple of months after issuing a second IPO to raise said scratch.

Where to begin...

Buying real estate is capital intensive. It's the main problem with any real estate related venture, there's very little anyone will ever buy or can buy in their lifetime that's as expensive as a house, yet every single person has to live somewhere...

Things I learn here...  Did your "8 years in real estate" bring you this wisdom, or did all this just hit you like a ton of bricks, as it is hitting me now?

Anyhow, fascinating info.  Now that we're sharing, I got an amusing yet edifying factoid of my own:  Businesses relying on a continuous influx of money--from "investors" through sequential public offerings or through loans--are collectively referred to as ponzis or, moar formally, pyramid schemes.

These businesses, while paying out "profits" in monthly dividends, are, in fact, not generating any.  Resorting to BTCjam and mooching for loans @14% is either a desperate bid to keep a failing business afloat, or a typical last-grab endgame.

Filing with the SEC is the cherry on top.  Anyone believing this is insane.  If it is, in fact, true--you are.

To your credit, you had me right up 'til the second IPO.

The business doesn't rely on any influx of capital. However to scale it does, and investors want scalability.

Real estate investment is debt/capital heavy. I still ask you how much you know about rental real estate.

As part of the BTCjam signup/verification process, I will be putting together a package that will contain deed copies, lease copies, income statements and bank statements to futher verify what I say is true. So, even if we don't go the BTCjam route, all of that data will be certified by a 3rd party.

Additionally, once we're filed on EDGAR will you stop complaining?

[havelock]

Branny,

Stop engaging with people that their sole purpose is to spread misinformation. Some never take the price of BTC/USD into account when investing into Bitcoin denominated investments. They will never stop to complain as their objective is to complain.

You continue doing what you have always done and focus on growing your business. Patience is a virtue in Real Estate. We have an ignore button option in this forum for a reason.

[NotLambchop]

^Not complaining.  Chuckling a bit under my breath, that's all.  Can you blame me?  
When you sold your first IPO, did you not realize "Real estate investment is debt/capital heavy"?  How about when you sold your second?  Did it become clearer then?

Amuse me a bit more, though:  Will your current "investors" be required to provide personal info, a la VirtEx (VTX), for SEC compliance?
Will non-accredited investors be sent packing?
This is fascinating stuff!

[NotLambchop]

[snip]

When are you returning the 100 BTC to MintSpare (MS) investors?

P.S.  "You continue doing what you have always done"

[tempestb]

^Not complaining.  Chuckling a bit under my breath, that's all.  Can you blame me?  
When you sold your first IPO, did you not realize "Real estate investment is debt/capital heavy"?  How about when you sold your second?  Did it become clearer then?

Amuse me a bit more, though:  Will your current "investors" be required to provide personal info, a la VirtEx (VTX), for SEC compliance?
Will non-accredited investors be sent packing?
This is fascinating stuff!

You seem confused or purposely trying to poke holes in something that is and has been pretty clear to everyone involved, except you.  Or you are fine with it, and are trying to produce FUD to get a lower share price.

The IPO was setup in rounds.  After the first round, Branny had another one.  Was all explained in detail, everyone knew about it.  There were other planned rounds if I'm not mistaken.  I think a total of 5?  This is not unusual, many securities are structured the same way.  Branny owns those shares, he can sell them if he wants to.  Just like you can if you owned any.

What Branny is trying to do isn't Ponzi.  He isn't taking the investments people make and then paying the people with those same dollars.  He's buying houses and paying investors a percentage of the income from the renters.  Pretty clear.  Would be the worst Ponzi ever considering the gains we're seeing.

The second offering, and now loan, is being done to gain enough properties to have leverage.  The fund has enough physical assets to cover the loans if anything goes sour.  He just sells off some property and we're straight.

Otherwise, it would take years to build up enough income with the few properties that he currently has, to purchase more properties.   However, once he has the loan and purchases the new properties, even with the loan payments, the income would then be high enough to allow continued expansion and investment in new properties, and thus the business grows.

This has been one of the most transparent and well communicated investments I've been involved in, and I've been in involved with dozens of them.  If you're not here to invest, go complain in one of the hardware manufacturing threads.  There is plenty to complain about there.