What is Open Door Capital and how does it work?
Open Door Capital is a private, well-capitalized, real estate investment firm – founded by Brandon Turner – that helps clients achieve superior risk-adjusted returns through the acquisition of value-add mobile home communities nationwide. Open Door Capital funds include a diversified portfolio of mobile home communities and is financed by accredited investors seeking a combination of strong cash flow and equity growth.
We purchase mobile home communities with a very specific set of criteria – manage them effectively and efficiently – and distribute quarterly cash flow to investors.
What am I investing in?
You are investing in a diversified portfolio of mobile home communities that our team identifies, and invests in, on your behalf. The portfolio should grow and change over time as we accumulate more assets, and others are sold, refinanced, or are paid off.
Can I invest with my self-directed IRA or other retirement account?
Yes! We can process investments through a variety of self-directed retirement accounts.
How will investor reporting work?
Investors will receive access to their investor portal where they can review their investment details and relevant documents at any time.
Investors can expect to see monthly, fund-level updates.
Can Open Door Capital accept 1031 proceeds?
Unfortunately, no. We cannot accept 1031 funds. You’ll need to invest 1031 proceeds into like-kind real estate. Our diversified fund does not meet this description.
Why a Fund vs. A Project Specific Syndication?
Who is eligible to invest with Open Door Capital?
Currently, our offerings are 506c which require you to be an accredited investor.
Accreditation status will be verified upon commitment to an offering. An accredited investor is a term used by the U.S. Securities and Exchange Commission (SEC). In order to qualify as accredited, an investor must accomplish at least one of the following:
Earn an individual income of more than $200,000 per year, or a joint spousal income of more than $300,000 per year, in each of the last two years and expect to reasonably maintain the same level of income;
Have a net worth exceeding $1 million, either individually or jointly with his or her spouse (excluding the primary residence);
Be a bank, insurance company, registered investment company, business development company, or small business investment company;
Be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered;
Be a business in which all the equity owners are accredited investors. Be an employee benefit plan, a trust, charitable organization, partnership, or company with total assets in excess of $5 million.
What tax documents should I expect to receive?
You will receive a K-1 (issued from our fund-level CPA) at the end of each year. You will be able to access and download these from the investor portal.
What are the tax implications of investing in real estate syndications like Open Door Capital?
Real estate investments and syndications offer a number tax advantages. To fully cover these implications, Brandon Turner interviewed Amanda Han and Matt MacFarland from Keystone CPA. Amanda and Matt specialize in tax strategies for real estate investors. You can watch the full interview here.
Does any depreciation or losses get passed through to the investor?
Yes! Any depreciation or losses will get passed through to investors based on the number of shares you own.
For each park we purchase, we typically hire a third party to perform cost segregation studies to help pass along any bonus, or accelerated, depreciation.
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