Future of Housing Fund Timeline

What we’ve done:

✅ Feb 2023 - Elevate Money, Inc. and Boxabl signed their partnership agreement.

✅ Mar 2023 - Elevate Money, Inc. submits initial FOHF “Offering Circular” (prospectus) draft to SEC.

✅ Jul 2023 - FOHF Offering Circular “Notice of Qualification” filed with SEC.

✅ Aug 2023 - FOHF goes live, open to investors on Elevate Money platforms.

✅ Sep 2023 - Meetings commence with municipalities seeking near-term solutions to local workforce housing availability.

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What happens next:

🎯 Q4 2023 - Identify land/city prospects for the first FOHF modular housing community.

🎯 Q4  2023 - Start property purchase negotiations.

🎯 Q1  2024 - First property purchase contract signed. FOHF engages in a feasibility study.

🎯 Q2  2024 - Property purchased and infrastructure development commences.

🎯 Q4  2024 - First modular housing development completed.

🎯 Q4  2024 - Rent collection commences on leased Casitas.

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What you need to know about the Future of Housing Fund

What is it?

FOHF is a real estate investment trust (REIT) that aims to develop modular housing communities populated by Boxabl’s “Casita” housing units.

The target markets for these modular home communities are cities needing entry-level workforce housing.  

FOHF  will develop, own, and manage these communities on behalf of its shareholders.  FOHF will also be responsible for leasing, maintenance, and collecting rent from future tenants.  

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Who can invest?

FOHF is open to US residents on the Elevate Money app and website.

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What are the terms?

FOHF has a $1,000 minimum investment for new Elevate Money customers and a $500 minimum investment for current Elevate Money customers.

Due to the longer-term nature of the FOHF’s strategy, investments in this REIT are locked up for 1 year.  

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What are the expected returns?

The fund aims to achieve positive returns for its shareholders by developing modular home communities and renting them out to individuals.  

Capital Appreciation Potential - Generally, value is created upon the completion of a housing development, which would be reflected in an increase in FOHF’s share price based on third-party appraisals relative to the development cost.  

Dividend Potential - As the modular home units are rented out, FOHF aims to collect rental income and pay its shareholders a declared (subject to Board approval) monthly dividend net of fees and expenses.

    * FINRA Rule 2210(d)(1)((F) prohibits FOHF from predicting or projecting future performance, and we cannot publish forecasted investment returns.

In our blog, The Case for Modular Home Communities, we review the performance of Manufactured Housing, which boasts some of the highest returns in real estate, and compare the similarities to our modular housing community concept.    

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What makes the Future of Housing Fund one-of-a-kind?

Elevate Money’s FOHF is the only real estate investment fund that has a partnership agreement with Boxabl, giving the FOHF first right to purchase a minimum of 10% of Boxabl’s monthly Casita production, which, according to Boxabl, currently has a waitlist of over 170,000 homes.

This agreement allows FOHF to be the first and only investment opportunity to develop modular home communities with Boxabl Casita home units.

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What are the potential benefits of modular home communities?

Boxabl has reinvented home construction. By creating modular housing units on a factory assembly line that can be “folded” and loaded onto a standard-sized truck trailer, Boxabl’s technology intends to disrupt the traditional home construction industry and offer a more sustainable and affordable alternative.  

1. Reduced construction risk.  The development of new on-site, stick-built homes and apartments is accompanied by “construction risk,” the imprecise estimation of costs, and the timing of supplies and labor. Layering in a budget buffer for construction risk increases the projected cost of on-site developed homes and apartments.

2. FOHF’s ability to acquire Boxabl housing units at a known cost and delivery time eliminates a large element of construction risk and, consequently, reduces the need for a budget buffer. FOHF can predict with greater certainty the actual cost to develop a new housing community featuring Boxabl’s housing units, helping to reduce investment risk.

3. Motivated municipalities.  The U.S. housing crisis extends from coast to coast. Cities are acutely aware of their unmet housing needs and are motivated to work with housing developers focused on workforce and affordable housing projects.  Reduced city fees and compressed approval timelines manifest how cities help workforce housing developers get their projects approved and underway. FOHF’s investment strategy aligns with local municipality motivations.

Summary

Reduced waste, pollution, and inconvenience.  Can you imagine building a car from scratch in your backyard? One week, the chassis crew shows up, then the engine crew, then the interior crew, then the headlights crew, then the wheels and tires crew, and so on. Excess supplies are dumped in a trash bin.  A lot of traffic and noise as these crews shuffle in and out of your neighborhood.  Crazy, right?

Humans have been living in hand-built, on-site-constructed housing since the Stone Age. Together with Boxabl, FOHF is bringing long-overdue innovation and change to this problem.

Manufactured homes are not the answer.  Off-site developed housing in the form of manufactured homes has been around for a while. What has held this industry back is the challenge of delivering a manufactured home from the factory to the actual housing site. Boxabl has solved this problem via its patented “folding” strategy, whereby the folded-up Boxabl housing units can be transported on a standard-sized truck trailer.  Mass-produced, factory-setting housing is now possible and is a game-changer.

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