Kevin is part of an investment group whose members met at their children’s preschool, of all places. The kids hit it off, and apparently, the parents did too! They started to hang out on the weekends and then birthdays — always great reasons to get the like-spirited families together. Soon the dads were getting together after work to network, watch Monday Night Football, and play regular poker games. Before they knew it a social club had emerged. Kevin and the other 15 dads dubbed their group the “Old Dawgs.”
It’s no surprise that when the group met they eventually began talking about investing together in different business ideas and local real estate deals. They discussed specific and exciting local private investment deals, but organizing and pooling together capital was too big a task. The potentially fruitful discussions of investing together always ended the same as it started — as just talk.
When the group heard about TribeVest and was asked if they would be interested in creating an investment group, the entire club excitedly raised their hands. Each of the Old Dawgs downloaded the TribeAlign app to determine if they were aligned and to make sure mixing business with their social lives would only enhance their group’s strong bond. In the end, TribeVest helped them agree on the rules of the game, form an LLC, and begin automatic deposits so they could start to pool their capital.
Here’s what the power of a 16 member tribe looks like at $250 per month.
16 x $250 = $4000 a month
$4000 x 12 months = $48,000!
In February, less than a year into their group funding journey, they came across a local apartment deal. But Kevin and the Old Dawgs had a problem: they hadn’t accumulated enough funds to make the apartment investment. But they persisted, and through the TribeVest network, they were connected with another tribe with the same investment goals. Together, the two tribes took out a 90-day bridge loan from TribeVest’s lending partner and purchased that local apartment complex — the dream investment that the members of both tribes had been searching for.
Kevin took the time to share with us his passion for tribe investing, and how the platform was the just the trick that his Old Dawgs needed to get their investment journey moving.
What is your opinion generally about group investing vs. investing as an individual?
I’ve been a proponent of shared investing for over ten years now, and in my opinion, it’s here to stay. When you’re part of a group with shared goals, you’re not just pooling funds. There’s shared excitement! You start the journey together and when the experience is a positive one, you gain a momentum that continues from one investment to the next. Quickly, that momentum took me through to now having an ownership interest investment I could have never imagined.
How did the TribeVest platform help you facilitate your group’s investing goal of purchasing the apartment building?
TribeVest made it very easy for us. They helped us partner with another tribe in their network and form a limited liability company, LCF86, to invest in the apartment project. We were able to review Investment subscriptiondocuments, answer questions, vote on and execute the transfer of funds, pool our capital — and TribeVest helped us secure a loan to make the investment possible. Working with them was a home run.
Would you describe your partnership with the other investment tribe as a success?
Absolutely. Real estate in California is expensive! We likely wouldn’t have been able to reach our goals unless we’d found the other group via TribeVest that had the same goals we did. Now, our two groups are one combined LLC — and we’re actively working with TribeVest on our next investment. We look forward to a long, successful partnership with TribeVest as we ride the momentum we feel and pursue other investment opportunities.