History
101 Investors, LLC (the original entity) was formed in 1998 by Vance Campbell who was also the Managing Member. All projects to date have been profitable. 101 Investors, LLC demonstrated a track record for locating and acquiring unique parcels of land and homes within the North County coastal strip. The foundation of these investments rested on the intrinsic value of the land with the upside achieved from the appreciation of lot splits or construction of improvements on the property.
Membership
The Company has seven members. The managing member is 101 Management Group, LLC. Three of the original 101 investors including Mr. Campbell are members. Three new members have increased the financial strength of the Company. The six non-managing members will be the source of any capital required to initiate a project and to guarantee bank financing that may be needed.
Structure
Depending on the scope of a project and the financial support needed, the Company will form a new LLC for each project. The Company, as managing member of each such project and in conjunction with 101 Management Group, will determine the number of new investors needed and the extent of the financial commitment each will make to fund the project. This new entity will exist until the completion of the project and be dissolved upon final distribution of all monies earned by the project.
Fees
The Company may charge development fees and a reasonable monthly management fee. This fee is dependent upon the scale and difficulty of the project.
Profit Participation
The Company will receive a minimum 40% profit participation in all deals. This calculation will be made after the individual investors in the venture have been returned their initial equity investment and their pre-specified preferred return.
Company Investment
The Company will have a required minimum investment of 20% of the total equity raised that will be invested at the same level as that of other investors. This side-by-side investment assures that the interests of the Managing Member and those of the individual investors are aligned. Additionally the company and it’s members shall guarantee venture debt if required by lender.
