This article is an excerpt from a Kevin Shortle Show Podcast episode featuring TJ Osterman and Rick Allen of Paperstac and the Money With Meaning Fund.
You’ve shown that you’ve changed the industry for Paperstac and I think you’re going to change it once again through this Money With Meaning Fund. Before we get into the actual fund, tell us a little bit about the experience leading up to this.
To start with, we got into the industry as a way to buy houses cheaper. When we started doing this, our first deal was $90,000 in debt and we paid $8,400 for it. We loved it. We also discovered the actual feel-good side of it. When we modified someone’s loan and allowed them to keep their property and to have them crying on the phone with us was pretty amazing and we said, “This is great!”
At the end of the day, there are families attached to these mortgages. “Roof, Pillow, Blanket,” has been our motto. We want everybody to have a roof, a pillow, and a blanket. There’s an epidemic going on with an affordable housing crisis. It’s investing with a social responsibility.
A few years ago, you had a type of fund that only allowed accredited investors to invest. That means you have to meet a certain criterion.
That was typically it, all accredited investors. We did very well but we wanted to offer the ability for non-accredited investors to participate as well. This fund is a Regulation A+ Tier 2 offering. It’s a type of fund where we can generally solicit non-accredited and accredited investors.
The A+ fund, those are difficult to create, right?
It’s been 24 months of consistent work. Our attorneys submitted everything to the SEC. You’re not going on to legal.com, just spinning out the paperwork and you’re like, “I’ll do it Friday, have it by Monday and I’m good to go.”
Your website says up to 10 percent returns and a minimum investment of only $200, is that right?
You can take $200 and throw it in there and you can be in the ballgame with a return of up to 10 percent annually. We wanted to make sure that the technology was able to handle people coming onto the platform and saying, “I want to invest $200 to start, but every month to take out $1,000 and we’ll see how things go from there.”
It’s a perfect fit for any investor. Are you open for investors now?
We are open for investment. Read all about it and you can invest here. You don’t go through or pay a broker-dealer.
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