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Buy your Block Initiative
WeReinvest.org would like show you how simple it is to start your own private real estate investment corporation (REIC) or private real estate investment trust (REIT). In doing so, we would also like to connect with at least 3,000 new private REIC's (can be individuals, families, or participants) or private REIT's by the end of 2021.
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Please note: REIC's are generally for individuals or small groups, while REIT's must have 100 members by the beginning of its second taxable year, in which, five or fewer members cannot own 50% or more of the REIT. As well, REIT's tend to purchase residential real estate in bulk or leverage commercial properties like strip malls or office buildings due to having large pools of funds to invest.
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Whichever corporation type that you decide to create or join, we recommend that you choose which type best fits your personality, business goals, and risk factors. We also recommend that you start with one subject residential property or land, and evolve as your experience and comfort levels grow.
The Buy your Block Initiative is specifically designed for residents to create private REIC's or private REIT's to purchase land lots and/or abandoned buildings in local neighborhoods to help begin the beautification, economic improvement, and prosperity within a chosen disenfranchised community. There are many programs, tax incentives, and discounted property values that are available through local municipalities and states, in which community residents are not aware. Access to these assets can be a huge benefit when deciding to invest.
While there are specific blocks within some metropolitan areas that have clubs or associations to help ensure stabilized property values and increase safety (see example here), there is also a major need for more REIC's or REIT's throughout entire metropolitan for the exact same reasons.
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We all understand that there are obvious benefits to rebuilding/restoring neighborhoods at the block level, there are also other gains to consider. The reduced cost of acquisition, favorable tax bill impact in surrounding areas, and potential subsidies, are a few.
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This initiative is a foundation to help our local communities build generational wealth. Assets accumulated over time could not only pay monthly or quarterly dividends, but could also be owned at full market value by the REIC or REIT. The income earned is perpetual, as long at the REIC or REIT owns the property. The REIC or REIT members are also able to set up monthly or quarterly payments or dividend payments to friends and family members, if included in bylaws. Conversely, dividends can also be reinvested into the corporation's capital pool, allowing for easier access to purchase future real estate properties (including commercial properties) and expand the portfolio.
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We are encouraging people to get involved, if they do not already own a REIC or belong to an existing REIT. We believe some of the abandoned buildings could even be turned into local farming/green space, or possibly rental opportunities, as local after school hubs or shelters for abused women and children. For example, rent can paid by non-profits or government funding programs. There is a demand for these type of facilities in local areas. There is also a demand for commercial uses in local communities. Please do your research for validation.
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If you are already incorporated, or once incorporated, we also would like to invite you to join our forum specifically designed for this initiative. We will group you as private REIC's or private REIT's to allow you to communicate with likewise entities to help promote ideas and prosperity. Please register here for access.
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To provide more detailed understanding about REIC's & REIT's, please see our FAQ's.
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For details to organize /set-up your own private REIC or REIT, visit here.
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