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What we need to make this project a reality

Currently the biggest road block is getting through Probate, and doing some rehab on the property to raise the value even more.

We are estimating a need of roughly $300K, worst case scenario to make this all happen from start to finish with Probate.

With a dream goal of $600K to complete the entire project, probate included.

What we are offering is a investment with a guaranteed 10% return on your money after the property has cleared probate and we refinance the mortgage or get a HELOC, with nearly 2.3 Million dollars in estimated equity we have no concerns about that as an option. But we do want to expedite the Probate process as much as possible so that we can get those returns back to the investors.

We have received a drive by appraisal that was based off the 2020 listing. The appraisal was done by getting comparable values from the area as normal. Things to keep in mind with this appraisal is that it was based off a listing when the property still needed major work.

There was a wood burning stove that had caught fire and burned a section of the house. And the property was in a general state of disrepair.

The fire damage has all been repaired and the house is habitable now, where it was deemed unlivable in 2020 because of the fire damage. with that in mind we expect the next appraisal that we get through Probate to be much higher with those factors being considered.

With that said the current appraisal is at $1.5 Million dollars.

We are keeping all costs involved below $600K dollars to ensure that no matter what happens with the economy or house market we WILL be able to pay back all investors immediately following Probate.

The investment option we have decided on is quite generous to the investors, we are doing this because we know that without them, this project will not be able to happen.

We also know that alternative financing methods for this type of project are quite expensive in regards to interest, and we have always been a family run business with NADAC and I hold it as a core value that if I can put money back into the pocket of a friend, instead of a corporation, that I will always try that option first.

We are offering investments with a 10% return once the property has been Refinanced or a HELOC can be taken out. This could be as short as 6 months or as long as a year. With repayment occurring no later than 2 years from your investment date.

We are also open to discussing interest rates if you are wanting to invest a larger amount.

Financial Backers

1) The proprety was purchased for $800K in 2020, with $200K down payment at the time of purchase. The owner carry contract comes in at $2900 per month, with a balloon payment in June of 2030 for the remaining balance. We have been in contact with the Owner Carry contract holder and he is happy to pass the contract on to us. He appreciates the vision for the property and wants to see us succeed. With that advantage on our side it ensures that for the next 5 years we have a reasonable mortgage payment each month.

2) NADAC has agreed to lease office space from the property for $3,000 per month.

3) NADAC has agreed to allow all proceeds from NADAC Hosted Trials at this facility to go back towards the facility, this typically averages around $2,000-$10,000 per event.

Outside of the financial backing, Chris Nelson and Jimmy Steele have agreed to handle the majority of the renovations on the property, keeping the rehab costs reasonable.

With all of this in mind we feel quite strongly about this project. And the best news is that any money you invest will be paid back regardless of whether the business is successful or not, as that money will come from the value of the property via a Refinance or HELOC.