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Investor FAQs
Yes. Owning a gROUPI is true real estate ownership. You purchase a share in a property-specific LLC. The home is fully managed and designed specifically for co-ownership.
For the time being – no. We are working on intigrating financing into this program.
A Groupi Preview is a property we believe will be in suitable investment based on its price, location, style, rent, return, and other investment-related criteria.
Yes. The legal forms and closing process are similar to a standard home purchase. We partner with local real estate agents and pay full buyers agent commission, use title, escrow, and inspections.
Owning real estate with others in an LLC is not a new practice. However, “DIY” LLC co-ownership is a headache to set up and a hassle to manage, especially when personal relationships are involved. Groupi’s fully managed LLC co-ownership is removes the interpersonal stress and operational hassle of going at it alone.
No. Groupi ownership is structured through an LLC. Owners purchase a share in the LLC, which holds the deed to the home. This structure provides Groupi owners with protection, privacy and flexibility. A Tenancy in Common is a specific type of ownership format with deeded ownership for each partial individual owner.
Home operating costs, such as property management, maintenance, taxes and repairs, are passed along directly to owners transparently with no markup. Costs are shared pro-rata. Owners pay an additional monthly fee which covers LLC oversight, ongoing owner support, and the technology that enhances your ownership experience.
Groupi manages all aspects of homeownership, including choosing and managing the property management company; maintaining the LLC and resolving any disputes between owners or the municipality; continually innovating and improving to help owners; and providing K-1 tax forms and handling property tax payments.
Yes. We manage the LLC and engage local third-party property managers on behalf of the owners. We identify trusted providers with on-the-ground experience. We’ve established a feedback loop between owners and property managers to ensure communication is streamlined and quality is exceptional.
****After 12 months of ownership, you are free to sell at any time, and you set the sale price. You’ll work with a real estate agent who will market the home just like they would a whole home real estate listing.****
Yes, as a true owner, any equity gains realized are yours.
Lawncare or snow removal is typically the responsibility of the renter or the property management co.
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Ownership FAQs
All operating expenses are passed through at cost, and all cost statements are available to owners upon request. Groupi cannot increase its management fees without cause. As the LLC manager, we will only increase what is collected from owners as necessary to cover a change in household expenses (e.g., an increase in insurance rates).
No, the LLC management fee is a fixed fee per month.
Material changes require an ownership vote. Groupi has limited authority to make non-material changes (e.g., change of address for state reporting purposes) on behalf of the ownership group.
Reserve funds are held in the individual LLC’s bank account, managed by Groupi. Funds are only used for the home’s repairs and maintenance. When the need for a major repair arises, Groupi will allocate funds after a transparent competitive bid process.
Other than for the purpose of securing a mortgage for the owners, Groupi can not borrow against or encumber the LLC in any way.
Every share owned holds a vote. Owners can bring major issues about their home to a vote of the group (e.g., a decision to upgrade the sound system). To call for a vote, notify the Groupi Crew member who represents your home.
We use a multi-member manager-managed LLC. These LLCs are a unified front that represent and protect a group of buyers. Each LLC has its own bank account, tax ID number and holds title to the Groupi Property.
Yes. Owners can close under an LLC, trust or use their legal name, subject to compliance with the details in the Groupi Property Documents.
Legal expenses, to the extent incurred on behalf of the LLC, may be passed through to the owners as a Basic Expense of the LLC. Each home has a homeowners liability insurance policy of up to $1 million.
Generally, to the extent such costs are not covered by insurance, the LLC indemnifies owners acting on behalf of the LLC in good faith and in accordance with the LLC operating agreement. Owners who act on behalf of the LLC with gross negligence or willful misconduct, or violate of the terms of the LLC operating agreement, will not be indemnified by the LLC.
Groupi works at the service of its owners. If owners decide that Groupi is not providing adequate service, the owner group can vote to remove Groupi as the program manager of the home and self-manage the property.
*****Groupi can sell the entire property in the unlikely event that more than three shares are in default for more than 90 days, and the shares fail to sell for the loan value ratio of 50%. Before a property can be sold, each owner will have the right to purchase the defaulted shares at a discount.*****
Routine matters are minor repairs to keep the home in owner-ready condition. Examples are ongoing home maintenance like winterizing a deck or replacing a broken dishwasher.
Owners are not individually responsible for life-limited items that eventually need repair or replacement, like a dishwasher; those are paid for by the LLC reserve fund.
Groupi would step in and advocate on behalf of the LLC. However, this is very unlikely. Many rental property markets are comprised of LLC-owned properties. We do not anticipate local zoning laws to change, given it would disrupt many households in many markets.
No, this is not permitted per the terms of our operating agreement.
Owners have the right to use the reserve funds for replacing life-limited items (e.g., washers and dryers or roofs) and/or can request a vote to use funds to add or replace items in and around the house (e.g., upgrading the sound system).
Groupi is responsible for paying property taxes and will provide an annual K-1 tax form for each owner. Funds for taxes are included in the owner operating expenses. We are not tax professionals and suggest you consult with a professional for more information.
The deed for each property is recorded in the name of a property-specific LLC. Each owner holds their interest through the LLC, which provides for both privacy and liability protection.