Quote from: Stego on February 26, 2014, 07:46:41 AM

Hello Branny,

I was wondering, what will happen to the remaining unsold shares after the IPO ? (If there is some)

have a good day

We're not sure yet, Havelock has presented two options.

#1 - The remainder of unsold IPO shares will hit the market at .0055/share, and the share price will be allowed to float. Shareholders could undercut the IPO price if they need to liquidate, otherwise high price will be locked at .0055/share till they are all sold out.

#2 - We remove IPO shares from havelock and the price is allowed to float as if it was a normal stock.

I would prefer #1 as it would allow us to continue to raise funds. We have around 10 days to sell a little less than 40,000 shares. I don't know that this is possible considering all the crazyness with gox and such. The positive neobee news was fantastic for have lock which boosted our share sales, but was overshadowed by the demise/problems with gox.

We've raised enough funds right now to buy at least 3 properties (We're in contract for two), but our goal was to fund for around 30 properties.

Quote from: Swordsoffreedom on February 26, 2014, 08:06:05 AM

Quote from: floatyfish on February 26, 2014, 03:42:11 AM

Quote from: Chris_Sabian on February 26, 2014, 01:56:29 AM

Quote from: bluebudgie on February 25, 2014, 09:14:25 PM

Really liking this investment. The properties they chose and the frequent updates by OP are great.

Let's just hope that it continues.

I believe it will, it's not like you can suddenly disappear with housing stock.

Once the houses are bought should just be about renting but choosing the right location is important
Pretty hard to run away on a house unless its a mobile home or detachable dwelling (that one takes a bit more work though) Thinking the house that you can use a truck to move

To move a mobile home is much more involved than just hooking it up to a truck. Almost every park in our state requires you remove axels and attach it to the ground by some semi-permanent method. The cost to move a mobile home around here is about $1500 to $2000 if you're only moving it say 25mi.

It's also technically possible to move non-detached housing (Traditional houses) through the use of a company that moves houses. We've looked into it because once in a great while you find someone selling salvage rights to a house. This means you get the house but not the land. Typically it means that people go in and rip out anything valuable, then pay a company to tear the house down. Instead I have looked at hiring a company to split the house in sections, transport it to a new location and re-build it. The cost estimates I got were in the ~$20,000 range. It might sound like much, but you can buy salvage rights for less than $10,000 for a VERY nice house.

So, imagine this :

$10,000 salvage rights for a upscale house that is being turned into a parking lot.
$20,000 to move the house to a new location
$10,000 for utilities & foundation that matches your moved house
$10,000 for a nice house lot.

Total cost - $50,000

Now, if you could move a nice, well-built house that has history to a equally historical area, you could very well have a FMV of $150,000 to $200,000 which incurs a profit of $100,000-$150,000.

Granted this has nothing to do what you were talking about Wink