Reason inactive this Block Offer is not provided by Equity Team

INVEST NOW
NJ Development Coalition

Scotch Plains Renovate & Sell

NJ Development Coalition Single-family Residential Scotch Plains, Union County, USA

Fixed Funding

This Block Offer started on Feb 12, 2018 and will close on Mar 30, 2018 12:00 am.

Raise Details
Block Offer Deal Type

Debt

  • Investing Goal $356,293.00 USD
  • Current Reservations $0.00 USD
  • Minimum Reservation $100.00 USD
  • Open Date 02/12/2018
  • Closing Date 03/30/2018
Followers
Type of Property

Single-Family

  • Type of Share: Debt
  • Loan Term (# number of months): 12
  • Property Price: 245,000.00
  • Estimated Rehab Cost: 75,273.00
  • Total Capital: 320273
  • Annual Income (Rent): 1,500.00
  • Additional Income: 450,000.00
  • Annual management fee: 4,000.00
  • Annual property taxes: 8,825.00
  • Annual insurance: 1,800.00
  • Net Operating Income: 451,500.00
  • Cash Flow: 451,500.00
  • Cash on Cash Return: 1.41%
  • Cap Rate: 1.84%
  • Number of Available Shares: 4500
  • Price per share: 100.00
  • The rate of Return: 10.00
  • "Minimum Investment: 100.00
  • Open Date: 02/12/2018
  • Closing Date: 03/30/2018
  • Open To: Both
Pending

Company Overview

NJ Development Coalition
Contact Name NJ Development Coalition
Company Name
Street Address 11 Wayne Ave.
City/Country East Orange / US
Number of employees

VIEW BLOCK DEVELOPERS FULL PROFILE

Highlights

This property is located in a neighborhood in close proximity to shops, shopping centers, grocery stores, restaurants, and has a school rating of #9 out of 10! It has a 1 car garage with a driveway that can fit 2 additional cars. There is a finished basement, huge backyard space large enough to fit a pool, a patio, and fire pit that will be restored!

Elevator Pitch

NJ Development Coalition uses real estate as a vehicle and a resource to help bring a solution to the issues surrounding the lack of housing and community development. Housing is needed for numerous reasons and we want to be agents of change by using our investment properties to help provide housing for individuals and families in transition, 1st-time homebuyers, and affording opportunities to individuals and families from low/moderate income households who want to purchase homes they can afford.

Please login to see Investor Section

Log In

Formation Documents

Corporate entity information NJ Development Coalition LLC
Type of registration LLC
Date of formation January 2013
State of formation New Jersey
Legal status Active
Website address http://www.njdevelopmentcoalition.com
Control Persons Jacquetta Thomas & Nisaa Smith
Subsidiary and affiliate information LLC
IRS EIN # 46-1807101

Company Owners

Name Designation Percentage onwer
Jacquetta Thomas Partner 50%
Nisaa Smith Partner 50%

Business Information

Stated business of the Issuer NJ Development Coalition, LLC
Anticipated business plan Purchase, Renovate, and sell
Stated purpose of this offering Acquisition, closing, and renovation costs
Intended use of the proceeds of the Issuers offering Reinvest in real estate
Target offering amount 356293
Deadline to reach the offering amount 2/15/2018
Price of the securities to be sold 100
A description of the ownership and capital structure of the issuer 100% ownership

Basic Property Information

Property Address 370 Jackson Ave
City Scotch Plains
Region Union County
Country USA
Zip code 07076
Building/Development Type Bi-Level, 4 BR, 1.5 BA
Current Ownership Information REO
Estimated Annual Property Income 432554
Estimated Annual Property Expenses 8825

Parcel IDs

Parcel ID 1600602000000019


Cap Rate 16%
Property Photo
image

Offering Documents

Operating Agreement
Recordkeeping Procedures
Investor Decks
image
Private Offering Memorandum
Shareholders Buy the Block Investors
SEC Form C
Elevator Pitch

Your request to access Comments section has been submitted successfully.
Please wait until your access request is approved.

Request Pending
While Buy the Block cannot verify the accuracy of the above information and thus is not responsible for it, we do conduct extensive diligence on all issues before allowing them to post an offer on our site. Please see our diligence process here. Individual BlockVestors are highly encouraged to conduct their own diligence on issuers and utilize Buy the Block's communication channels to ask questions of issuers prior to making an investment. Buy the Block makes no warranties either expressed or implied as to information associated with an issuer's offer on this site including any projected returns; property location, condition, accessibility, terrain, or buildability; and any other information posted by an issuer. Sizes and all information advertised are approximate. By investing you affirm that you have completed all due diligence to your own satisfaction and that you further understand the financial commitment for your investment. You may also retract your investment up to 48 hours before the offer closes.

Cancellation/Refund Policy
A BlockVestor may cancel his or her investment for any reason up to 48 hours before an offering's close and receive a full refund of such investment without any fees or penalties by sending an email to blockvestors@buytheblock.com with the subject line of "Investment Cancellation" and identifying the particular investment to be canceled. Refunds will be processed within (24) twenty-four hours

Before you can request access or make commitment to a deal you mast have the Following profile item completed:

Please click on the Complete Profile button to complete the required profile items. After you successfully complete your profile, you will be redirected back to this page and request will be processed automatically.