<aside> ⚠️ All proposal creators must schedule a call with Fractional before creating an investment proposal. This is to ensure that you are aware of all responsibilities and upcoming tasks.
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There are 4 proposal stages:
Stage details:
<aside> 💡 Interest: gather initial interest from members Members can join the proposal with their anticipated investment amount, though showing interest does not guarantee a spot in the proposal.
****Interested members will join a conference call to:
The proposal will officially launch once the call has been completed.
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<aside> 💸 Funding: finalize purchase group Members who want to secure a spot must send in an earnest money deposit that is 10% of their committed investment (ie: $500 deposit for a $5,000 investment).
****Fractional works with the proposal creator to draft and send the purchase and sale agreement at the end of the funding stage.
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<aside> 🤝 Under contract: offer is accepted by the seller Members must pay the remaining investment amount and sign the partnership operating agreement three business days before the closing date.
****Fractional will set up the group’s LLC and business banking.
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<aside> 🏡 Closed: members are now official owners! Once all payments and documents have been received and signed, the group and LLC will close on the property and become the official owners of the property on the closing date.
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Details on the entire process can be found here: offer and acquisition process.
Leading a proposal may seem like a daunting task, but our Fractional Concierges are here to work with you every step of the way.
<aside> ☎️ Please note that during certain stages, you are expected to take initiative and set up a call with our concierges to move the process forward.
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1. ☎️ Schedule an initial consultation with Fractional: Even if you are a verified proposal creator, initial consultations are useful to discuss mortgage financing options, your project details, and how you can leverage our partner network.
2. Create a complete proposal: You must provide all required property and investment information. Please reach out to us with any questions if you cannot complete the investment proposal properly.
<aside> ✍🏼 View our proposal creation guide here
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