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There are several missing middle investing opportunities with MiddleHouse. We are routinely in discussions with investors looking to add missing middle investing to their portfolios in the form a limited partnership or homeowners looking to stay in their neighbourhood, but benefit from a joint venture development of their home.
Limited Partnerships
This is a great option for investors wanting access to missing middle investing opportunities, but not wanting to deal with the actual development.
Unlike typical Limited Partnership offerings, each partnership is approximately 2 years, unlike the typical 5+ for mid and high-rise offerings. Each project is designed to be as-of-right or as close as possible, to limit approval times, in addition to the smaller scale of the development and our use of pre-assembly which allows for a much quicker completion.
In addition, our missing middle investing opportunities have a targeted 20% annual return, with a 12% hurdle rate, which is in line with other missing middle investing options, but over a much shorter timeline.
Homeowner Joint Venture
We hear repeatedly, semi-retired and retired homeowners would prefer to stay in their neighbourhoods, next to their neighbourhood friends, but over time need a living space that meets their needs and wants as they age.
The solution is a joint venture with MiddleHouse, in which a market value is agreed upon and a credit assigned. Homeowners stay in their home until construction begins, at which point we offer a housing allowance. A great time to travel the world or visit family and use the allowance to offset some of the cost. Upon completion, approximately 18 months or less, homeowners can apply their housing credit to the market value of one of the units, at which time they would pay the remaining difference or receive a payment by MiddleHouse for the remaining credit.
In addition, this form of missing middle investing with MiddleHouse provides homeowners with a percentage of the profit margin, depending on the site and market conditions.
These missing middle investing opportunities allow homeowners to have a brand new single-level home on their same lot, all while potentially taking out some of their home equity to enjoy in retirement.
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