FAQ
Affordable Housing
What is the difference between Section 42 and Section 8?
Unlike Section 8, Section 42 isn't subsidized. Tenants don't receive a voucher as you would with other low-income housing programs like Section 8. Instead, the rent for those units is capped at a fixed amount, including utilities.
Why is there an affordability issue?
Rents and home prices have been increasing faster than incomes. At the same time, older apartments and homes have been renovated or replaced by new units – and these improved units cost more than the original ones. Over 11,500 market rate affordable rental homes have been lost from the County’s housing stock. Efforts to build new affordable housing and subsidize rents through voucher programs have not been able to keep up with the need.
Why should I care about affordable housing?
Rents and home prices are rising, and it has become increasingly difficult for low- and moderate-income households to find homes they can afford in the county. A wide range of housing types and prices is essential for maintaining cities as a diverse and vibrant community with individuals from a variety of socioeconomic and cultural backgrounds. Affordable housing allows lower-income working families to live close to their jobs, enabling employers to staff hotels, restaurants, service businesses, and even entry-level jobs in government, schools, and hospitals. Living near work reduces demands on the transportation network by reducing long-distance commuting, thereby improving air quality and overall quality of life for all residents of the region.
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REAL ESTATE SYNDICATIONS
What is a Real Estate Syndication?
A real estate syndication offers the opportunity to channel private savings into real estate investments by multiple parties or investors. Real estate syndications can help investors achieve the benefits of owning an investment property (cash flow, appreciation, tax breaks) without the work or stress of being a landlord themselves.
What is a 506(b)?
Rule 506(b) allows issuers to issue endless securities and raise an immeasurable amount of money from an unlimited number of investors as long as they meet the following requirements: No advertising to public markets or general solicitation.
Who can invest?
Both non- accredited and accredited investors
How does the LLC structure work?
The LLC will offer Class B-C Units to prospective investors in accordance with a Subscription Agreement. The economics and management of the LLC will be governed by an Amended and Restated Operating Agreement, to which each investor will agree to be bound when investing in the LLC. RIL Apartments acts as the managing member and owner of Class B -C Units in the LLC.
Do I get proof that I have a stake or ownership in the property?
Yes. Once you have wired your investment funds and your investment becomes active, you can view and download a property certificate. This certificate includes your full name, property address, investment amount, and target share in the property. It also confirms your ownership stake in the underlying real estate owned by the LLC.The certificate can be found under “My Investment” in the “Account” tab. Simply click on the investment for which you wish to view the property certificate.
Is there a guarantee I will make a profit?
As with any investment we cannot, and do not, guarantee a profit. You can, however, view the returns from our track record to see our consistently profitable results.
NOTE: Past performance does not assure future results.
How long will my money be invested?
Each syndication deal is different, but we typically hold properties for an average of 5-7 years. The number of years or months we anticipate we will hold the property will be clearly stated in the offering documents.
How am I getting taxed on my profits?
Each investor must complete an IRS Form W-9 upon making their first investment. At the end of each applicable tax year, investors will be issued a Schedule K-1 reflecting their share of the taxable income, or loss, from each completed property. Investors will be responsible for including such income, or loss, on their tax returns.
When can I expect to receive a K-1?
We aim to provide US taxpayers with annual K-1 statements in a timely manner prior to April 15th. Investors can find all current and historical statements by going to the “Account” tab and selecting “Tax Forms (Schedule K-1).”
How do I wire the investment funds?
Once you place your investment(s), you will be provided with instructions to complete an online wire transfer. You will have 5 business days to complete the wire to activate your investment.
Each investment has a unique reference code, marked in red. Make sure you include this code when wiring the money.Please note that if you have a daily wire transfer limit, you can do multiple wires on separate days until you reach your total investment amount.
In this case, make sure you include the same reference code in all your wires.NOTE: We cannot accept ACH, credit cards, personal checks, or any other form of payment besides wire transfer.
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