Buying real estate is a difficult process where many properties become out of reach for many simply because of the Interest Rate charged by banks. The C.R.I.B. overcomes this hurdle by helping BUYERS purchase via CASH-ONLY transactions.
Purchases can be for personal occupancy, residential renting, commercial use or investing.
Property types include: SFH (single-family homes), MFH (Multi-Family Homes), Condominiums, Residential Buildings, and Commercial Spaces. At the moment, we have to investigate ways in which to purchase Co-op Apartments.
Buyers go through their normal qualifications with a mortgage broker or bank. They present their paperwork for verification and the property they wish to purchase.
Buyers then come to The C.R.I.B. and pitch to members “the property” and “their profile”. This is the first step allowing them to raise the money ONE INVESTOR AT A TIME.
Buyers offer a percentage share of Zero up to 45% in the property, in order to secure the funds for a CASH-ONLY PURCHASE. A Buyer’s credit-worthiness in the traditional market determines their viability for investment from C.R.I.B. members.
Members invest in $1,000 blocks, and can purchase as many blocks as they want. Investments are linked to ONE PROPERTY AT A TIME, unlike other real estate investment vehicles where monies deposited cannot be tracked to a specific property.
Investors give a BUYER enough to purchase the home and possibly do renovations but those agreements get a bit more detailed.