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ProActive Realty Income Fund II LLC

About this Property

General Information

What is Rancho Affordable Living, LLC? Rancho Affordable Living, LLC is a real estate development company committed to creating impactful real estate projects. These projects aim to revitalize communities, promote environmental sustainability, and provide stable investment opportunities. The company prides itself on leadership by a Black developer and a commitment to energy-efficient, cost-effective housing solutions.

 

What is the current investment opportunity? The current investment opportunity involves a debt offering for the development of 23 new factory-built manufactured homes on a property at 1750 N Rancho Drive, Las Vegas. This project aims to provide affordable housing options to low-income tenants, including those seeking second-chance housing, Section 8 voucher recipients, homeless veterans, and others in need.

Investment Details

What is the issue type and exemption? The issue type is Debt, and the exemption is under the Test the Waters provision.

 

What are the financial terms of the investment?

  • Projected Preferred Return: 7%

  • Price per Unit: $1.00

  • Minimum Investment: $100

  • Minimum Goal: $300,000

  • Stretch Goal: $1,235,000

  • Interest Rate: 6.25% above the ten-year treasury rate

  • Investment Period: Up to 3 years, with targeted 2-year interest payments and an additional projected 19% “Kicker” paid at exit.

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Is the investment open to non-accredited investors? Yes, the investment is open to both accredited and non-accredited investors.

 

What is the planned launch date for the campaign? The planned launch date is September 5th, 2024.

Project Details

What is the nature of the project? The project involves placing 23 new manufactured homes on a 1.66-acre property. These homes will be rented out as affordable housing options. The project will address deferred maintenance, structural and infrastructure issues, and improve security and landscape aesthetics.

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What types of homes will be placed on the property? The homes will be 2-bedroom/1-bath and 2-bedroom/2-bath models. The 2-bedroom/1-bath units will rent for $800 per month, and the 2-bedroom/2-bath units will rent for $850 per month.

 

Where is the property located? The property is located at 1750 N Rancho Dr., Las Vegas, NV 89106, Parcel: 139-19-803-001.

Timeline & Approval

What is the project timeline? The project timeline is 36 months from the close of the offering, with a minimum of 24 months of targeted interest payments.

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Do you have zoning approval and necessary drawings? Yes, zoning approval has been obtained, and architectural drawings are in place.

 

What is the timeline for raising capital? The goal is to raise the needed capital within eight months.

Marketing & Financing Overview

What is the current state of the Las Vegas housing market? The Las Vegas housing market has experienced a slowdown in sales but has maintained price stability. The median price of existing single-family homes increased by 5.9% in December 2023 compared to December 2022.

 

How will the project be financed? The project will be financed through a blend of crowdfunded capital and equity investment. The total project cost is approximately $1,235,000, with $1,055,000 raised through crowdfunding and $180,000 injected as equity by the Proactive Realty Investment Fund (PRIF).

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What is the projected financial return for investors? Investors can expect a 7% annual interest paid quarterly, with an additional projected 19% “Kicker” paid at exit, resulting in a total expected return of 40% over three years.

Developer & Track Record

Who is behind Rancho Affordable Living, LLC? The company is managed by The Proactive Realty Group, LLC, led by Dr. Canaan Van Williams. Dr. Van Williams has over 25 years of experience in real estate investment and has successfully orchestrated over $36 million in transactions.

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What is the track record of the developer? The Proactive Realty Group has a proven track record of returning $3.1 million of capital to investors and has completed several transformative projects, including the repositioning of multi-family properties and manufactured home parks.

Sustainability & Community Impact

What sustainability features are included in the homes? The homes will feature advanced energy-efficient technologies, including LUX Argon Gas Low-E Windows, Rheem Hybrid Heat Pump Water Heaters, Smart Comfort HVAC Heat Pumps, Ecobee Smart Thermostats, and Energy Star-certified appliances. The homes are also solar and wind-ready and meet Zero Energy Ready Home specifications.

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How does the project contribute to community revitalization? The project aims to provide affordable housing to underserved populations, improve the local environment, and enhance community safety and stability. By addressing the urgent need for affordable housing in Las Vegas, the project supports social impact and community development.

Additional Information

What resources are available for investors? Investors can access case studies, financial updates, and participate in an investor forum for ongoing discussions and updates on the project.

 

How can I stay updated on the campaign? Interested parties can sign up for campaign updates through the Rancho Affordable Living website and participate in the investor forum for real-time information and engagement.

 

How do I invest in the project? To invest, visit the Rancho Affordable Living website, review the investment details, and complete the pledge process. The minimum investment is $100, and units are priced at $1.00 each.

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