Steeple Rock Investment Process
Congratulations! You probably have a Steeple Rock deal sitting in your inbox and you have clicked the link to understand your next steps. Regardless of your apartment / self storage / mobile home investing experience, you may be new to investing with Steeple Rock and our process.
To set you up for success I have laid out the 6 steps we follow from when the executive summary hits your inbox to funding the deal. Use this as a guide and feel free to ask questions.
1
Release.
The property has been vetted and projections calculated. It is now ready for investor consideration.
The Executive Summary is released for you to view. It is a one page, top line summary of the project. It if you are interested in this deal, don't let the email sit - respond immediately.
2
Respond.
There are two possible responses.
1. Yes, go ahead and reserve me a spot in the deal and send the Investor Deal Summary for review.
When reserving a spot, include the amount you expect to invest.
2. Please send the Investor Deal Summary for my consideration and I will think about reserving a spot.
The Deal Summary is around 20 pages and walks through the deal details. The plan for the property is laid out, the financials explained, and projections shared. Along with the summary, you will receive a link for an investor conference call. Some calls are live, others are prerecorded. This is your chance to hear directly from the Operator buying the property.
3
Reserve.
Reserving a spot does not obligate you to invest, rather it holds a spot while you perform your due diligence. If you are at all interested and able to invest, It is best to reserve a spot ASAP since there are limited spots available.
When reserving a spot, include the amount you expect to invest. Once all spots are reserved (first come, first serve), new responders will be placed on a back up list. At this time the clock starts ticking - this is your due diligence period. You will usually have 2 weeks before the commitment deadline.
4
Commit.
You have reserved a spot and completed your due diligence. You like what you see and want "in" the deal. Simply communicate with me that you are ready to commit. You can commit anytime between reserving a spot and the commit deadline. If you are on the back up list, you still need to be ready to commit should a spot open up. If you reserve a spot but do not commit by the deadline date, your spot will be given to the first person on the back up list.
5
Sign.
From the beginning all dates will be clearly communicated. One of those dates will be the PPM signing deadline. The PPM is a Private Placement Memorandum, the legal paperwork you will sign to become a Limited Partner in the deal. Usually done via Docusign.
6
Send.
This is your final step. After signing, you will have a several day window to wire your investment (not yet accepting bitcoin). Congratulations, the syndication team will send monthly updates on your investment and you can start expecting dividend payments shortly.
