Black Real Estate Forum, LLC
Welocme Letter To Members
Thank you for joining as a Member of The Black Real Estate Forum, LLC. ("the Forum"). Membership in the Forum is private and restricted to professionals and business owners that are in a position to advance the Forum's investment, public policy, and community improvement goals. The mission of the Forum is to "Build Wealth and Create Jobs for Black people" in Black communities. Your one-time membership fee of $1,000 to $5,000 will make it possible for us to further this goal.
The Forum is a national membership organization of professionals and business owners that hosts real estate panels, publishes policy papers, meets with government officials, and much more.
Since 2020, we have hosted Investment Panel Discussions (In-Person and Online).
We are also contemplating the launch of several securities offerings, in order to raise capital from both accredited and unaccredited investors. This will enable us to raise the capital needed to identify and develop transformative properties in underserved communities.
We hope that as we grow, we can enter into arrangements with various businesses that will be interested in offering our Members, Stakeholders, and Friends discounts on their products and services.
We will be coordinating with various not-for-profits and other public benefit businesses, in order to offer our Members the opportunity to mentor those in the communities in which we strive to serve, as well as other volunteer opportunities. In light of our strategy, discussed above as a Member, you will enjoy the following membership benefits:
1 - Free Admission to Investment Panel Discussions (non-Member entry fee/$100 per event);
2 - Affinity Business Programs;
3 - Mentor Programs; 4 - Volunteer Opportunities;
5 - Member Discounts (including deep discounts in a number of future equity offerings, pursuant to and in compliance with the relevant laws applicable to such offerings). 6- Member-Only Communications.
We will update our Members Quarterly on the progress we make on each of these initiatives.
The Forum believes that the problems of economic inequality in America could be more effectively resolved if talented Black commercial real estate developers had access to reliable sources of equity capital to develop Black communities.
Street protests are a great way to bring attention to economic, social, and political injustices but building wealth and creating jobs are key to creating a more economically just society in America.
I look forward to working with you to help build wealth and create jobs in the Black communities across America.
All the best, Thomas Lopez-Pierre President/CEOBlack Real Estate Forum, LLC
On April 26, 2023, Fund I invested an additional $116,891.11 in the Property to bring the property's mortgage current and remove the property from the pre-foreclosure legal process.
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $600,000 on Zillow.com (as of May 1, 2023).
In 2023, Fund I will borrow $150,000 in debt capital from BREF Debt Capital, LLC at a 15% interest rate (secured with a 2nd position mortgage lien on the property to protect debt investors from capital loss) to pay for the renovations of the property.
The Property is currently a one-story, two-family residence with approximately 50x100 square feet of land and 1,602 square feet of building area, containing three bedrooms and one bathroom. In the short term, Fund I plans to gut-renovate the one-family property and rent it out to tenants for about 5 years (rental income will be used to service the mortgage debt).
After about 5 years and with interest rates and supply chain/construction costs stabilized, Fund I plans to form a joint-venture partnership with a Black real estate developer to tear down the existing, one-floor structure and develop the property.
Although the exact details are still being developed, Fund I anticipates that the redevelopment will contain approximately 50x100 square feet of land and 5,200 square feet of building area, divided between two semi-attached townhouses; the planned townhouse will have two stories with two residential units, each containing three-bedrooms and two-bathrooms (four units).
After the completion of the redevelopment of the Property, Fund I anticipates that the Project will have a value of $2,000,000 (each of the two townhouses is expected to sell for a minimum of $1,000,000).
As of May 1, 2023, 3115 Fenton Avenue, Bronx, New York, 10469 (just a few houses away from the BREF Fund I, LLC's property) is two semi-attached townhouses, each valued at $882,300 by trulia.com.
(development plan as of May 1, 2023)