1. holding LLC with 1000 units.
1.1 each pledged 25k = 1 voting unit.
1.2 first round of offering = 40 units.
1.3 each partner can't buy in more than 4 units at first round.
1.4 executive board members are voted in annually.
1.5 board members are voluntary bases.
1.6 all partners can propose projects with detail local studies.
1.7 executive board members will review and recommend projects.
1.8 all partners can vote on go or no go.
1.9 if project can win 75% of vote, will go forward.
2. each project will form as individual LLC
2.1 holding LLC is the only member.
2.2 all money vested in individual project, are loans against title. payout be interest based.
2.3 executive board will elected a strong local partner oversee this project.
2.4 this active manager is a paid position.
2.5 pay out will base on performance.
2.6 executive board has right to de-select active manager.
2.7 partners can veto any executive board decision with 75% vote.
2.8 executive board can make decision on whether refi or sell the project after a set time frame.
2.9 partners can either continue in current project or redeem investment.
3. finished projects.
3.1 executive board will have power decide sell or refi project after set time frame.
3.2 if sell out.
3.2.1 holding company withhold a set percentage of profit for future expansion.
3.2.2 partners will receive all vested money plus share of profit.
3.3 if refi.
3.3.1 partners can choose redeem vested money or stay in project.
3.3.2 if choose to stay in, partner will continue receive interest payment.
3.3.3 if choose to redeem, partner will receive share price = 80% of market value.
4. additional round of offering.
4.1 additional round of offering, if needed base on new project.
4.2 similarly, each 25k = 1 voting unit.
4.3 .......
ok, any Harvard graduated MBA here???