PhixNPhlip Closes First Equity Crowdfunding Project “Arcadia Lite”

Share Article

Arizona crowdfunding real-estate platform closes first project with 16.7% annualized return to investors

PhixNPhlip, Arizona’s premier equity real estate crowdfunding platform, announced today the completion of their first project “Arcadia Lite”. The 2,200 sq ft, 4 bedroom, 2 bath, modern home sold for $934,000 and returned a net profit of $92,319 to investors - a 16.7% annualized return.

Shane Cook, co-founder of PhixNPhlip, said, “Our goal at PhixNPhlip is to provide a 12% to 18% annualized return and to have periodic liquidity with a number of projects for the investors to choose from throughout the year. Our team is immensely satisfied with the results of our first project (Arcadia Lite) and the 16.7% annualized return we were able to yield for our investors.”

PhixNPhlip published the full performance summary for Arcadia Lite project here: https://www.phixnphlip.com/#news.

PhixNPhlip opened over 600,000 individual secured participating preferred non-voting membership interests for the Arcadia Lite project. The initial offering was 6% preferred interest as the base part of the return, plus 40% net profit share after the sponsors participation. The offering for Arcadia Lite closed in May 2019.

The project was completed in 300 days, undergoing major demolition and remodeling. The home was initially expected to sell for $270 - $340/sq. ft. and adjusted to $370/ sq. ft. as the final projection.

Shane, who is also a Realtor at My Home Group, followed the Cromford statistics analysis of the MLS data, local real estate trends, and comparable houses in the market and was able to increase the asking price to over $412 per sq ft. The home was under contract within 3 weeks and sold for over $406 per sq ft.

Gwen Butler of GTNJ Architecture was responsible for completely re-designing the 1958 property into a modern home that fit the aesthetic of the neighborhood. Kevin Keller and Nicole Wheeler of Revival Home Renovations made the vision come to life while adding custom cabinetry items that were as artistic as they were functional.

As of 2015, the Arizona Legislature and Gov. Doug Ducey approved a crowdfunding law to allow and encourage non-accredited investors to make equity investments in startups and other entrepreneurial ventures, including real estate.

On March 28, 2019 Phix Properties LLC filed the first single-family residence real estate crowdfunded offering in the state of Arizona with the Arizona Securities Division. PhixNPhlip requires a minimum $1,000 investment and the law allows a maximum investment of $10,000 in a crowdfunded project. All investors must be Arizona residents, as the company operates under Arizona’s crowdfunding laws.

“What the new structure really does is allow us to build investor relations and communicate with the 100%, instead of the 5%. Investors are now able to invest in smaller amounts, get more transparency, and more diversity - that’s a more prudent way to be an investor,” says Joe Cook, veteran real estate investor and co-founder of PhixNPhlip. “We’re proud to provide a platform for all Arizonians to invest in our robust real estate market and communities.”

PhixNPhlip has 2 more residential projects on the way and are expected to open commercial properties to crowdfunding later this year.

About PhixNPhlip:
PhixNPhlip is Arizona’s premier real estate crowdfunding platform, founded by father-son duo, Joe Cook – a veteran real estate investor participating in transactions of over $380 Million, and Shane Cook, expert Realtor having sold over $250 Million worth of commercial and residential property. Together, they bring decades of experience in real estate and investing to provide a platform that allows non-accredited investors of Arizona to invest in their community and become an integral part of the growing real estate market. For additional information, visit https://www.phixnphlip.com/

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jamie Sweet
Phix N Phlip
Like >