Fantastic. Cameron and team, thanks so much for prepared remarks as always. Cameron, what are you sipping on this Tuesday morning? Well, it’s uh it’s getting cloudy, so I need my second cup of coffee. Absolutely. I know. We just had fall equinox. It’s it’s getting gloomy in the Seattle area, but not complaining. Cozy fall is right around the corner. Pumpkin spice season is upon us. Absolutely. Cameron, you probably saw we have folks from all over the country today, which is absolutely exceptional. Uh for folks that are new here, feel free to drop any and all questions in chat. This is your time. We want to be sure that you’re getting your questions answered. U so I’m going to get started here with Rick’s first question and then I’m going to drop a few details on our $25 credit uh if you attend a webinar and the FAQs with that. We can chat through that live if anybody has questions as well. Uh first one from Rick. Can a boutique finishing lodge be used for an investment property with your company? I mean, I would say technically yes. There there’s not a reason why it would be precluded from being an offering on arrived. Uh with that said, you know, primarily we’re investing in uh real estate where there’s some more passive operations. So, long-term rentals, you know, there’s a two-year lease on a property. collect rent, utilize the property manager, a fishing lodge. Um, you know, to the extent that it’s kind of like an Airbnb, you know, I I I think that that’s within the realm of possibility. Where it starts getting a little bit more difficult is if there are more like commercial fishing operations, there may be licenses, things like that. But, you know, to the extent that it is more like a vacation rental, but there’s fishing amenities, I think that’s very much within the realm of possibility. So, interested in hearing if you have more detail on that, like whether you have the fishing lodge property and would be interested in having arrived uh manage it or it’d be an investment offering or um you know, let us know some thoughts there, but happy to take that thought further. Absolutely. Yeah, Rick, great question. And I did drop a link to um our survey monkey which essentially our investments team reviews on a bi weekly basis. I would say even um quicker than that. So feel free to drop any and all details there or if you have more in the chat today that’s great as well. Taylor I see you’re having a hard time downloading that document. Um if other folks are also facing that definitely let me know. It looks like it’s had like 47% on here with 16 clicks. Um, but let me know if there’s issues there. I can add it to the screen and we can walk through those details live. All right, let’s see here. Another great one from Jason. Will there be more properties purchased in the Seattle area? Also, Vancouver, Portland area. Good question. Yes, for sure. So, we’ve got individual rentals in Battleground, Washington right now, and it is very close to the Vancouver area. I think it’s maybe 15 20 minutes north of Vancouver, Washington. And that particular area is um attractive because you have the no state income tax in Washington and then no sales tax in Portland, which is right across the state border. So, a lot of people live in Vancouver, Washington. They may work in Portland. So, that’s the reason why we liked it as a very specific investment thesis while being in the Pacific Northwest. Um, in the Seattle area, we do have our Seattle city fund. And the way that that fund works is that we have uh both rental properties in there as well as credit investments. And those credit investments are really oriented towards being a higher yielding cash management. So some of the rental yields up in the Pacific Northwest, they tend to be a little bit lower because the more expensive that your property values are, whether it be California, Washington, Seattle, any of those places, then you tend to get a lower dividend yield on it because rents can only go up so much. You can’t borrow against rents as an example. Whereas home prices, because you can borrow, that tends to produce kind of a dislocation between the amount that somebody’s willing to pay for a mortgage versus rental income. All that to say, that’s kind of why you have the dynamics where the more expensive property that you have, the lower dividend yield that you have. So, we do utilize uh that cash management through our credit investments to increase the yield. But as we get more net investment into the fund, then we’re able to purchase another property. Our average property in our Seattle fund, I think, is about $830,000 um across those couple properties. Um, so it is kind of a high mark to wait until the next property, which is why we haven’t seen some in a while. But in addition to that, it’s not just rental properties and credit funds. We also have different um investments in in different funds as well in the Seattle area. So, we have a we have a property that we’re co-investing with a local operator that is doing a value ad apartment um like I don’t want to call it a flip because that kind of is the wrong um timeline. It’s really a 5 to sevenyear project, but you know, we are able to invest in those types of assets in the fund itself. So, we are getting more properties into the fund, but they’re not always arrived managed rental funds or single family residential. They may be co-investments into individual apartments or different type of value ad operations and flips within the greater Seattle area. But really the mechanism to uh distinguish there is that we allocate cash towards high yielding credit investments. You you get enough cash into the fund then you put it into assets and they kind of rinse and repeat. So then as more money comes in you deploy that into credit investments. So that’s really the the cash management strategy to get higher yields than you normally would with just owning a rental property in the Seattle area. So to kind of recap, that’s the Seattle fund. um and when we get more properties there. And then Vancouver, Portland area. I do think that if you’re going to be in the Pacific Northwest, those lower cost of living areas, um newer inventory, a little bit less big city feel, but very convenient for a specific tax reason, um is the play. So, look out for more properties there. It’s, you know, still on the road map as a strategy uh for Arrived. Fantastic. And it looks like we have some a couple quick rapid fire Cameron on uh markets in the area or not in the area, markets all over the US. So do we have properties in Charlotte, North Carolina? I believe there was another one in here from Ter uh Georgia as well. Yep. So uh Charlotte, North Carolina, definitely we have some properties in there. Uh you we Charlotte’s gotten uh fairly expensive some from the time that we’ve been purchasing. So we started in um 2021 purchasing there in Gastonia kind of second and third ring of the metropolitan area in Charlotte. Um those have been good investments. So definitely Charlotte as a market is attractive. It’s it’s actually got the second largest banking uh financial operations in the in the country behind New York City. So it’s actually very much a financial hub of the southeastern part of the United States. So um definitely have conviction in Charlotte. just there’s there’s sometimes a difference between feeling good about the market and like the right time to to purchase a a property. So, um we’ve been streaming them in somewhat slowly. You know, I would I would say that we haven’t invested a ton in North Carolina in the last 2 years, but definitely have properties there. And if you are interested in Charlotte, you can always buy properties on the secondary market to the extent that they’re available. So uh investors who already own shares in that property if they need to exit for whatever reasons they can put their shares on the secondary market and then you trade it just like a stock market on a monthly basis. So the stock market is open from you know 9 to 1 every every day um or 9 to 4 actually um but we settle on a monthly basis. So, you know, can answer more questions about secondary market later if you all have them. But basically, long story short, if you do want to invest in Charlotte and there’s no active new offerings, there’s always an opportunity on the secondary market. Um, there was another question about which part of Georgia? It was Georgia in general. Oh, Georgia in general. Yeah. So, we’ve been pretty active investors in Atlanta. I think it’s actually our largest metropolitan holding and we primarily purchased there in 2021 and 2022. Um good market high eviction rate though which is why we pulled back. So during that um COVID runup time we definitely saw some market weakness on the operating side. So long-term conviction still feel good about appreciation. Operating risk was higher than we had appetite for. So we pulled back some but again shares available in the secondary market. We’ve also invested in um some of the coastal markets there. So uh Savannah as an example, Savannah, Georgia. So a little bit more affordable price points than um where we had been buying in Atlanta. So there are some properties there. Uh but again we’ve also kind of cooled off there. Uh North Carolina, Georgia, we bought more four years ago. More recently, we’re buying in um Tennessee and Arkansas as two of our primary convictions in states. So, still in the southeast, still similar economy, kind of got that very big interstate freeway system down there, very good fundamental economy with um movement of goods and um you know, industry, trucking, shipping, um but you know, just allocated more towards Tennessee and Arkansas. Fantastic. Awesome. Thanks so much for walking through it, Cameron. Great questions in the chat. Also, if you go to our invest page, you’ll be able to see all the markets we’re in. We’re over um 60 markets to date and north quite north of 500 properties on arrived. So, uh lots of growth over time. Let us know if there’s any other questions on markets as a whole. Good one from Arnold in here. What is the cost to purchase shares or does it vary per property? Yep. So, for new offerings, then we uh price them at $10 per share. So, what’s variable about that is the number of shares available to purchase. So, if you have say a $300,000 uh total raise on a property, then you would have 30,000 shares available. And then if there were a $400,000 total investment, then there would be 40,000 shares. But each one is priced at $10 and then it’s a minimum $100 purchase. So, in that case, or investment, I should say. And so, that’s 10 shares at a $100 investment per property. And then if you are on the secondary or market or funds, those prices can vary because the the $10 is when we initially offer them. So funds can change value over time and it’s based off the net asset value, which is really just a calculation of the total equity uh in an investment divided by the number of shares. And that ends up being the price of it, just like a stock on a on a stock exchange. Um and then secondary market the buyers and sellers they set their transacting prices. So you know to the extent that somebody wants at market above market below market whatever they consider market there’s different definitions of market then they would have the choice to transact at that price and you would get in at whatever the book is matching your prices at. Fantastic. All right I’m going to take a few here Cameron for rapid fire. Uh one from Jason. I invested last weekend for the first time. Thrilled to have you on board, Jason. Absolutely exceptional. Can I invest in the secondary market in October or do I have to wait until November? It’s a great question. To access secondary market, investors must have made their first investment at least 60 days before the start of that window. Uh, so we will definitely notify when you’re eligible. For folks, and I know Cameron walked through this, our secondary market is open on a monthly basis for one week at that time. So, uh, for properties that you might be interested that are fully funded, it’s a great way to get in, uh, to different markets, different asset classes, uh, so on and so forth. We also have a webinar on secondary market as a whole. So, I’m happy to drop that in chat if any folks have questions on that. All right, a good one in here from Keith. After opening an income fund, how often can I add to it? Great question. So all of our fund investments, so Seattle city fund, uh single family residential fund, uh real estate income fund, they are always open. You can invest at any time. So let’s say for example, I invest $100 today. I can go make a new investment in that fund a few days later, a month later, depends on whatever cadence that you choose, and go make that investment. As a note, it won’t go back to your original investment. So, for the dividend, it’s going to follow the date in which you invested for that new one. Um, but you can add and increase that investment at any time. All right. And moving back over here, one good one from Joseph. How can I open an account? Love to hear this. Uh, Jake walked through this briefly, but you’ll go to arrive.comregister.
I think we timed ourselves, Cameron. It’s right around four minutes. Uh, so it’s rather quick. Uh as a note, we do require your social security number. That is for KYC, know your customer, and AML, anti-moneyaundering. It’s a standard in the investing space. Uh that’s used to verify your identity and then for tax purposes. And then you’ll walk through all the standard on boarding. Um and then move them right in to invest. So uh if you do not get an auto pass there, that’s not anything abnormal. It’s just asking for more documentation. I like to compare it like similarly if you go to the airport and you’re asked to do like extra screening. Sometimes it’s it can be random. So just as a note there in case that does take place. All right. A good one in here from Dennis. What happens if our property is destroyed by fire or weather? Would we move our renter into an another property that we have? Cameron. Yep. So, we carry insurance on all of our investments just like you would your own owner occupied residence or any other investment. So, we have a master policy that kind of gets the benefits of aggregating all of the properties on arrived into a single policy. So, you get better pricing, better coverages, and more commercial protections. So, one of those protections that I’m mentioning has to do with the second part of your question about moving a renter into another one of our properties. So the first part of it is that as a landlord, if you don’t have habitable premises, then you as a tenant are entitled to break the lease. So if we have another property that is vacant in the area that a renter does want to go into, they certainly have the option free market, they can apply um to that property and get in, but the main point is is that they are not bound to the lease anymore because the landlord is unable to provide those habitable habitable premises. So that allows the uh lee to get out of the or the yeah lee to get out of the out of the lease. Um but now the follow-up part related to insurance is that one of those commercial protections is loss rent coverages. So, if we have a, you know, when we have the policy on and there’s a uh event that qualifies, which is really any event where that would trigger the insurance and you have a renter in there, the insurance company will continue to pay the rents. And you get this coverage because as an investor, you’re really looking to monetize and extract income from your investment. It’s not your home that you’re living in. So, it’s nice that having insurance helps you rebuild the property or cover whatever parts of the damage are minus the deductible, but really you’re in it for the income. So, this allows you to also collect the income because that renter is not entitled to um or not obligated, I should say, to pay you the rent anymore. Uh so, that insurance policy will subsidize the rents in the meantime, help you rebuild the home and then proceed from there. But yeah, they’re not obligate, the renters are not obligated um to stick with arrived in any meaningful way. They can go figure out whatever their living situation is. Fantastic. All right. And then Kim, remember we talked about like the in the other like insurance too and how many properties if they’re in FEMA flood zone, those details as well. Yeah. So, as part of our underwriting process, we look for any sort of elevated risks and we check with our insurance carrier beforehand because they’re going to have the ultimate data sets that give you guidance on which additional protections you would need because they may not be covered. So, if you go into an area with a hurricane risk, your default policy is not going to be covering that. So, you have to get the additional coverages. Similar with flood zones. Now, we tend to not invest in properties that are in um high-risk flood zones. So, that is usually more of a preventative uh issue where we are not purchasing that property rather than purchasing the additional coverages. But, you know, sometimes a good deal is a good deal and you’re willing to take the risk and take the gamble and then you would just buy that elevated protection. Usually we’re buying it for uh like the additional riders that we’re purchasing are going to be in hurricane related areas just because the southeast part of the United States is a lot of it is in a hurricane zone. So that’s one that we would commonly um add on to the policy. Fantastic. Awesome. Thanks for walking through Cameron and move back over. Lots of good questions today. I love the um engagement that we’re seeing. Uh Joseph had asked, “Is there a prospectus review?” Yep. So all of our U securities offerings and all of our investment offerings they we file them and get them qualified with the SEC the security and exchange commission. So you can go on to our website and there is a link directly to that prospectus where you can review all of the uh securities information related to the investment the risks how you get u you know like secondary market liquidity. So that perspectus is available on every single invest page that we have at arrive. So whether it’s a fund, an individual property, there are links to those SEC filed qualifications where you can see yes, the SEC has reviewed our offering statement. It is according to um you know what the securities rules are and then you can also read additional information on there about uh the investments themselves. Fantastic. Awesome. And then I did link to all of our filings where they’re consolidated in there as well. All right, a good one in here from Marshall. What is the anticipated hold time? Uh they noted that they’ve seen five to seven on IPO and 5 to 20 years elsewhere. Yep. So there’s that good observation that some places say 5 to seven, some places say 5 to 20. Um I would kind of differentiate this by um individual offerings versus fund offerings. So in general, we’re looking to um get kind of quicker returns to the extent that we can. Say with a levered property, get a good interest rate, wait for some appreciation, sell it quickly, and then that’s the really the way to maximize the the return on your capital in a short period of time. Sometimes the markets don’t play nicely with interest rates, so we would have to hold them longer. So, as interest rate environments have changed over the last couple years, we extended our anticipated hold time uh to 20 years for some assets. Um, and then some fund investments, you could hold properties that are like real winners for, you know, 20 years. I think that the the the reason why I kind of differentiate an individual offering versus a fund investment is that when you invest into a fund, you own a share of the entire portfolio like by default. So, if you’re in our single family residential fund, we have 56 properties in there. Um, conceivably you could hold one for a really long time in there just cuz it’s a great performer that you want to hold. Um, and the difference between that and say like the individual offering is that, you know, there’s um you have the secondary market, but you know, everybody is locked into that one investment. So, everybody’s capital is tied up into that one investment. So to the extent that we can get um that faster return then we would anticipate on selling it in a quicker time period so people could then reinvest their capital elsewhere um funds it’s much easier to hold that individual property for 20 years if it’s you know a a great contributor. So our north star is really just to maximize the you the investor’s return. Um but you know there are people that need their money sooner which is why we created the secondary market or if you’re in a fund we have quarterly redemption um as well. So lots of liquidity options um but you know different investments are going to warrant different hold periods but our northstar is like make sure that we can get the highest IRR which is internal rate of return which is basically your annualized return um for the investors. Fantastic. All right, moving back over. I can take this quickly from Arnold. If you have questions after today, how do we get them answered? Great questions. So, you can always email supportive.com and then we have a live chat function in the bottom right hand corner of arrive.com. So, you can simply go there. As a note, we do have an auto AI agent right away there. You can always request a human at any time. Uh, but I always recommend trying it out if you especially if you’re asking a few basic questions and then requesting a human at any time. That said, if you prefer not to, zero pressure. We want to be sure that folks don’t have to say operator operator operator in order to get to a human. So, one mention of human and you’re good to go there. All right, moving back over. Oh, a good one from Andrea. We walked through liquidity paths for individual properties. I know Ryan briefly touched on liquidity options in prepared remarks. Uh, but Cameron, can you walk through how redemption works for just clarifying it’s for all funds. So, Seattle City Fund, real estate income fund, um, and then our single family residential fund. Yep. So, in a general fund, we have a redemption program that works very much like a mutual fund where Arrived updates the share price on a quarterly basis. And then in that window, you’re able to request redemption where Arrived acts as the intermediary to pay you out on the shares. So, if you bought in at $10 and now the share price is $11 and you have 10 shares, then, you know, we could uh cash you out at that $11 share price for those 10 shares. So, it, you know, is a little bit different than the secondary market in the sense that the secondary market for individual offerings is where buyers and sellers directly transact with each other. for the funds themselves. There’s no, you know, counterparty that is buyer and seller. It’s that arrived pays you out and redeems you on those shares and then, you know, we bring them back into the pool and you get your um number of shares times whatever that price is. So, it’s it’s less of an open market mechanism between buyers and sellers. It’s stated on um the arrived net asset value that is updated on a quarterly basis. And to date, I don’t believe that we’ve ever had to um like couldn’t fulfill a redemption order. 100% of redemption orders um to my knowledge have been fulfilled through arrived. They have. Yes. Thanks for walking through it, Cameron. Uh I dropped that FAQ. It’s a great one to peek at as well. Again, that minimum hold period is 6 months and then we have those specific windows with dates. I always recommend taking a look at those. Obviously, we’ve said that all investments are arrived are intended for long-term. I would say our liquidity pass are semi-liquid. It’s not one that you can invest in today and then go liquidate tomorrow. Um so on and so forth. So we always like to be as transparent as possible uh when folks are choosing where to park their hard-earned funds. All right, moving back over here. I think this is our last question here, but folks keep me honest in the chat if I’ve missed any. Joseph had it asked, can I purchase in the name of a trust or IRA? Uh so yes, you can invest in the name of entity. So whether it’s an LLC, a trust, those are all possible. With IAS, they are also possible, but it’s a little bit more of a skinnier version um of an individual retirement account. So in this case, it has to be a selfdirected IRA, in which case you kind of have the control of the the checkbook to to make the investment. They’re sometimes referred to as checkbook IAS, um kind of indicating the mechanism by which you invest and who has control and the authority to make the investment. But specifically, if you do have that self-directed IRA, it can be in the name of that. And then um you know, to my knowledge, most uh entity type investments, you know, whether it’s LLC or trust, those are also fine. Absolutely. All right, I think we cruised through all the questions today. So folks, uh give if you have any more, I’ll give you like 30 more seconds. Drop them in chat. Monica, I know you had asked once I register, am I ready to invest? Good question. So you should see essentially blocks at the top of your page when you’re moving through those where you are in onboarding. So if there’s any questions that you have on that, definitely let us know. But theoretically, you should be able to create an account within four minutes or so and then move forward and invest there. But we’re always here to support you. That chat agent in the bottom righthand corner is a great resource as well. All right. A good one in here. Uh Rashid said, “I live in Canada. Can I invest in this?” So currently arrived is limited to permanent residents and citizens of the United States. There is um like a tax hurdle to get over uh in in terms of when could we open this up to more more of the globe you know more people outside of the US. So uh you know Rashid I would say that today unfortunately it’s not a possibility unless you are a permanent resident or um you know which it’s possible to have a permanent resident in the US and kind of live in Canada in in some ways you know depending on how you um go back and forth. But with that said uh future roadmap item you know open it up to more of the world but unfortunately right now it is limited to permanent residents and citizens in the United States 18 and older. Absolutely. Yeah. Echoing you, Cameron. Definitely hope to expand in the future and so appreciate your interest. All right. Oh, they are Canadian. Yeah, we’ll definitely be sure to share when we expand. Um, but yeah, it’s always great to get those questions. Very cool to see though that the message is kind of expanding to um, you know, outside the US border. So, you know, appreciate your attendance and interest and just kind of blown away that it’s, you know, people from outside the country are attending the webinar. Absolutely. Yeah, allocating the time. It’s pretty exceptional. I can take this one quickly from Keith. Do you have automatic reinvesting? If not, when? Fantastic question. This has probably been, I would say, in one of the top five requested features that we’ve seen over the years. I think it goes right in line with our passive investment. So, good news. We are working on recurring investment um actively right now. I don’t have a specific launch date, but we will absolutely be sure to share that from the virtual rooftops when it does come. Uh, I know I’m personally very excited about it, so I don’t have to jump in. I can like set it and forget it, which is how a lot of my other investments work. So, very excited for that. More to come, Keith. Um, and appreciate the question. All right, Cameron, I think we cruised through all the questions today. Any uh closing remarks before we shut our virtual webinar doors? Always appreciate everybody’s interest and time in attending these webinars. You know, a couple of really cool things to look forward to. I would say that arrived is always evolving both as a technology platform as well as the investment offerings that we um are excited to bring. So always a lot of stuff in the works, a lot of platform improvements and you know we’re bringing real estate investing online. So I think it’s kind of crazy that there’s not a real you know online mechanism to invest in real estate. Uh Arrived is becoming that company. So always appreciate uh everybody’s interest. Fantastic. Well Cameron thank you so much for your time as always. I don’t even know the number of webinars I’ve had the pleasure to do with you. So I’m very grateful. U you’ve been at the foundation of all the products that have been built on arrive to date which is exceptional. Uh so thank you. Thank you for your time today and always. And for all the folks that spent 53 minutes on your Tuesday morning and afternoon, we so appreciate you. Uh if you have any questions regarding the credit, definitely let us know. You can email supportive.com or you can use that chat function in the bottom righthand corner. I did share details on that $25 credit in chat, but I’m happy to send over that document if you send an email in. Uh, super easy on my side. So, essentially, I’ll just walk through it really quick before we close our virtual doors. If you attend an arrived new new user webinar, which is this one today, um, and if you qualify, you’ll receive a $25 in arrived credit. You can apply towards an investment. So, that’s not cash. you can withdraw and you just have to create an account, link your bank, and then attend this intro webinar. So, if you’ve done that today, uh we’ll be sure to allocate those within the week. But I think that’s all we have. Cameron, did you any thoughts? Um, no. I was just going to echo the the sentiment that it that it’s been great being on all these webinars with you as well. Yeah, it’s been a blast. Awesome. All right. Well, happy investing everybody and hope you all have a great rest of your day. All right. Thank you all. Take care.