New Way Homes

Neutral
BETA

A new, scalable solution for creating affordable and below-market-rate housing

Analytics

Raised to Date: $292,324

Aggregate Commitments $
Platform

Wefunder

Start Date

09/04/2020

Close Date

04/01/2021

Min. Goal

$100,000

Max. Goal

$1,070,000

Min. Investment

$100

Security Type

Debt

Funding Type

RegCF

Series

Seed

Weekly Commitments $
Status

Active

Reporting Date

01/17/2021

Days Remaining

73

% of Min. Goal

292%

% of Max. Goal

27%

Likelihood of Max
Avg. Daily Raise

$2,165

# of Investors

114

Momentum
Location

Santa Cruz, California

Industry

Real Estate & Construction

Tech Sector

Non-Tech

Distribution Model

B2B

Margin

Low

Capital Intensity

High

Business Type

Growth

New Way Homes, a scalable solution for creating affordable housing, is raising crowdfunding on Wefunder. The company focuses on developing below-market-rate houses, including workforce, supportive, and other discounted and financially sustainable houses. Sibley V. Simon founded New Way Homes in 2015 and has raised over $3.9 million since its inception. The proceeds of the current crowdfunding round, with a minimum raise of $100,000 and a maximum raise of $1,070,000, will be used to pay for some pre-development expenses and fund the design and planning permit approval of the next six projects. New Way Homes has already started construction on its first 19 homes and has over 300 homes in permitting.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$405,014

$65,320

COGS

$0

$0

Tax

$810

$0

 

 

Net Income

$230,489

$-34,648

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$238,658

$276,232

Accounts Receivable

$12,834

$0

Total Assets

$2,482,051

$1,675,845

Short-Term Debt

$96,633

$120,787

Long-Term Debt

$1,785,070

$0

Total Liabilities

$1,881,703

$1,305,987

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