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North Carolina Beach Rental Portfolio isn't accepting new investments

North Carolina Beach Rental Portfolio’s deadline was January 7, 2023

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Campaign ended

North Carolina Beach Rental Portfolio

Own a piece of North Carolina beach houses through a curated portfolio
Residential Real Estate
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Featured image of North Carolina Beach Rental Portfolio
$606,533
Raised
888
Investors
Successfully funded and closed on January 7, 2023.
Invest in North Carolina Beach Rental Portfolio

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Closed on January 7, 2023. Information may not be up-to-date. Campaign closed on January 7, 2023. Information displayed may not be up-to-date.
Opportunity Market Strategy Offering Track record Team
About Team

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Plat Capital Fund I, LLC . View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
North Carolina Beach Rental Portfolio IPA Plat Capital Fund I Form C.pdf
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Hear from some of the 888 people reserved or invested in North Carolina Beach Rental Portfolio


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Highlights


  • Own a piece of North Carolina beach real estate, no matter where you live
  • Focused exclusively on single-family beach vacation rentals in NC
  • NC home values have appreciated by 22.7% in the past year (Zillow)
  • Professional team with years of experience investing in the NC market
  • Gain exposure to an asset class that's difficult to participate in

Opportunity


North Carolina
real estate portfolio

Managed by local founders

Plat Capital Fund I is a portfolio of beach vacation rental investment properties managed by founders who are local to the North Carolina market.

The company plans to acquire, manage, and dispose of a portfolio of single-family homes vacation rentals along the coast of North Carolina. Our intended strategy is to focus on acquiring properties that:

  1. Have strong vacation rental demand based on proximity to beaches and other vacation attractions
  2. Have competitive amenities (i.e. pools or volleyball court)
  3. Have low acquisition costs compared US market averages
  4. Have significant potential for capital appreciation

Our thesis is that North Carolina will be at the center of innovation and growth for years to come. Major tech companies like Apple are investing billions into campuses across the state.

This will increase appreciation of all property types, and drive major traffic to all the vacation hotspots along the coast.

Market


NC coastal towns set to outpace other large markets across the US

Some unique facts about North Carolina:

  • As of Oct 2021, Zillow's home value index shows that home values have appreciated by 22.7% in the last year across the state of North Carolina. 
  • In 2021, the average sale price of homes in our target market of Brunswick County, NC went up by 21.6%. 
  • There are 3 North Carolina cities in the top 25 best places to live in America, according to US News Real Estate. This provides a steady flow of vacationers who frequently visit the NC beaches for weekend trips or family getaways. 

North Carolina in the news:


Strategy


Experienced & selective management team

Plat Capital has years of experience acquiring and managing residential real estate along the coast of NC and throughout the rest of the state. 

We primarily source properties from our local state-wide network and paid online and offline marketing campaigns. We are very selective about choosing properties that fit our investment thesis mentioned above.

We have deep experience sourcing evaluating, negotiating, structuring, closing, renovating, and managing such acquisitions of single-family homes, and intend to leverage this strategy for this offering. 

Offering


Investment opportunity

We are offering up to 750,000 membership units of our Company for $1.00 each. The proceeds of the offering will be used to acquire and manage properties during the anticipated hold period of 3-5 years.

We are targeting an IRR of 12%-18% with a fund structure that includes the following benefits to investors:

  • Exposure to vacation rental income
  • Preferred return - which means investors get paid before Plat Capital gets any profits
  • Exposure to appreciation

Management Fee

The Manager shall be entitled to 10% of gross revenues (as defined below) to help cover the cost of property management by Plat Capital Fund I, LLC. “Gross Revenues” is the amount of total revenue each year that is generated from the properties through rental income.

Track record


Previous deals


#1: Beach vacation rental


  • 288 Brunswick Ave., Holden Beach, NC
  • Purchase price : $275,000
  • Gross revenue: $44,652
  • Expense and financing: $23,556
  • Cash flow: $21,096
  • Cash-on-cash return: 38.35%
  • View Airbnb listing

#2: Beach vacation rental


  • 926 E. Beach Dr., Oak Island, NC
  • Purchase price: $625,000
  • Gross revenue: $87,652
  • Expense and financing: $47,004
  • Cash flow: $40,648
  • Cash-on-cash return: 32.5%
  • View Airbnb listing

#3: Small town vacation rental

  • 1020 Danely Road, Pilot Mountain, NC
  • Gross revenue: $15,533.15
  • Expense and financing: $10,044
  • Cash flow: $5,289.15
  • Cash-on-cash return: 18.5%
  • View Vrbo listing

Team


Norman Simon

Winston Salem, NC

  • Completed 18 real estate transactions in the past 3 years
  • Transacted $5.3M+ in real estate deals
  • Experience in creative deal structuring, fix & flips, long-term rentals, and short-term rentals
  • Co-host: Pure Capital podcast
  • Managed teams of 25+ people and implemented $10M+ in projects for Altec Industries
  • West Virginia University engineering alumni


James Carnes

Austin, TX

  • Co-Founder & CTO of Iconic Air, Inc.
  • Forbes 30 Under 30 lister
  • Raised $5M+ from private investors, and secured $1M+ in government contracts for Iconic Air
  • Completed $1.7M+ in real estate transactions
  • Co-host: Pure Capital podcast
  • West Virginia University engineering alumni

Investment details


Name
North Carolina Beach Rental Portfolio
Geography
North Carolina
Type
Hospitality
Anticipated hold period
3~5yrs
The life cycle of the fund.
Targeted IRR
12%~18%
IRR (Internal Rate of Return) is the annual rate of growth an investment is expected to generate. Note: this is an estimate.

Deal terms


Minimum investment

$250

The smallest investment amount that North Carolina Beach Rental Portfolio is accepting.
Learn more

Maximum investment

$75,000

The largest investment amount that North Carolina Beach Rental Portfolio is accepting.
Learn more

Funding goal

$750K

The maximum amount the offering can raise is $750K.
Learn more

Deadline
North Carolina Beach Rental Portfolio needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd IPA

Crowd IPA (Interests Purchase Agreement) is a simple agreement to acquire membership units of a limited liability company.
Learn more

Price per security

$1

The price of each membership unit.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Plat Capital Fund I, LLC . View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
North Carolina Beach Rental Portfolio IPA Plat Capital Fund I Form C.pdf

Bonus perks

In addition to your Crowd IPA, you'll receive perks for investing in North Carolina Beach Rental Portfolio.
248 investors
Invest
$500
Receive
  • ***Limited first 250*** - Custom North Carolina beach themed sticker and custom NC beach themed crazy socks
  • Limited (2 left of 250)
99 investors
Invest
$1,000
Receive
  • ***Limited first 50*** Custom NC beach themed crazy socks and recognized on Plat Capital website as "[Your Name] owns a piece of NC beaches"
  • Limited (1 left of 100)
26 investors
Invest
$2,500
Receive
  • ***Limited first 25*** Custom NC beach themed crazy socks and recognized on Plat Capital website as "[Your Name] owns a piece of NC beaches"
  • Limited (24 left of 50)
8 investors
Invest
$5,000
Receive
  • ***Limited first 5*** 1on1 video call with a Plat Capital managing partner, Custom NC beach themed crazy socks, and recognized on Plat Capital website as "[Your Name] owns a piece of NC beaches"
  • Limited (12 left of 20)
6 investors
Invest
$10,000
Receive
  • ***Limited first 5*** Get 2 days of free lodging at one of the portfolio beach houses, 1on1 video call with a Plat Capital managing partner, Custom NC beach themed crazy socks and recognized on Plat Capital website as "[Your Name] owns a piece of NC beaches" Note: Lodging days will be decided by Plat Capital LLC
  • Limited (4 left of 10)
1 investor
Invest
$25,000
Receive
  • ***Limited first 3*** Get 4 days of free lodging at one of the portfolio beach houses, 1on1 video call with BOTH Plat Capital managing partners, Custom NC beach themed crazy socks, listed as a Plat Capital Gold Investor with your name and picture on our website Note: Lodging days will be decided by Plat Capital LLC
  • Limited (2 left of 3)
Invest
$50,000
Receive
  • ***Limited first 3*** Get 5 days of free lodging at one of the portfolio beach houses, 1on1 video call with BOTH Plat Capital managing partners, Custom NC beach themed crazy socks, listed as a Plat Capital Platinum Investor with your name and picture on our website Note: Lodging days will be decided by Plat Capital LLC
  • Limited (3 left of 3)

About

Legal Name
Plat Capital Fund I, LLC
Founded
Sep 2021
Form
North Carolina LLC
Employees
0
Website
platcapital.co
Social Media
None
Headquarters
Google Map location of of North Carolina Beach Rental Portfolio
1020 Danley Road , Holden Beach, NC
Headquarters
1020 Danley Road, Holden Beach, NC, United States 28462

Team
Everyone helping build , not limited to employees

Profile picture of James Carnes
James Carnes
Managing Partner
Profile picture of Norman Simon
Norman Simon
Managing Partner
James Carnes
Managing Partner
Norman Simon
Managing Partner
Logo of North Carolina Beach Rental Portfolio

North Carolina Beach Rental Portfolio

North Carolina Beach Rental Portfolio successfully raised $606,533 from 888 investors on January 7, 2023
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Peterson, Derrik, Christina, Alexander, Sina, and 883 others invested. 118 Reviews
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