Here are the 4 simple steps to complete your investment:
Click on “Reserve My Place” as soon as you have interest.
Sign your Private Placement Memorandum (PPM) at your earliest opportunity.
After you have reserved a spot to invest in Royal (Broadstone) Sienna Apartments, we will hold your place as long as possible. As such, we kindly ask for you to complete the PPM signature process at your earliest convenience so we can continue holding shares on your behalf.
Using Retirement Funds? Start Here.
If you are using retirement account dollars, you will need to use your existing SDIRA or you will need to set one up to invest in real estate. Your SDIRA needs to be set up before you can complete your PPM.
If you need help, please continue reading for some basic information and steps to get your SDIRA account setup for investing.
What Is an SDIRA:
Here’s the definition according to Investopedia: A self-directed individual retirement account (SDIRA) is a type of individual retirement account (IRA) that can hold a variety of alternative investments normally prohibited from regular IRAs. Although the account is administered by a custodian or trustee, it’s directly managed by the account holder—the reason it’s called “self-directed.” Available as either a traditional IRA (to which you make tax-deductible contributions) or a Roth IRA (from which you take tax-free distributions), self-directed IRAs are best suited for savvy investors who already understand the alternative investments and who want to diversify in a tax-advantaged account.
Here’s a great video to get an overview of SDIRA’s and how to use them strategically to build wealth:
Our Preferred Custodian:
Quest Trust Company is our preferred provider because of their relative speed of processing versus the competition. We receive no fees or commissions from recommending them. If you decide to use them, your key contact is Manny Lewis at firstname.lastname@example.org, phone number 281-492-3434 ext. 3678. He is available from 8:30am to 5:30pm CST, Monday to Friday.
The Quest Process to Invest:
1) Open the Account:
a) You may open a Traditional or Roth IRA using the following application link: Quest Trust New Application. Go here as soon as possible to get the process started as it can take up to 4 weeks to get your account processed for investing.
b) To enable your deal sponsor contact (Kevin Anderson or Willie Wahba) to be able to follow-up on your account on your behalf, you will need to list them as an “Interested Party” on your application. If you don’t list them, they will not be able to obtain account status or information from Quest on your behalf.
c) Contact Manny with any questions throughout the process.
2) Fund the Account: Manny will work with you to move your funds from an existing retirement account (401K, 403B, IRA, etc). The process and amount of time to fund will vary depending on the amount type.
3) Make the Investment: Certain Royal Sienna legal documents will need to be submitted to Quest to enable your SDIRA to then be funded according to your direction.
Afrer your SDIRA is complete, you may then fill out your PPM. It’s important to know that Quest, not you, will be signing the PPM. See PPM Instructions below for more details.
Please be prepared to spend ~10 minutes completing the registration and investment process. You will need the following items handy:
- Social Security Number
- If you are investing from a bank, you will need your account information.
- If you are investing as an entity, you will also need your entity name, EIN, and entity address
- If you are investing with an SDIRA, please see additional instructions in the SDIRA section below.
Go here to see a video of the PPM signature process. Alternately, just follow the detailed steps below:
A) Click here (or copy/paste this URL https://growability.investnext.com/portal/offerings/908/) to register for an account on our GrowAbility Equity Investment Portal.
- Click “Apply to invest” button, fill out your information, then check your email for a link.
- Click link in your email, register username and password and then log in.
B) After log in, click on the Royal Sienna Apartments offering. Then click the blue “Invest Now” button to begin the investment process.
- When you reach the “Invest” step of the process, if you are investing jointly, or as an entity or trust, you must click the “Add Profile” button to add your investment profile information for your PPM. This information will automatically populate your PPM for a smoother signature process.
- If you have multiple signers for the PPM (ie. joint investment), after you complete and submit your side of the PPM, the second signer will receive an email invitation to complete and submit their side of the PPM.
- If you are funding with a SDIRA, see below.
If you have a Quest SDIRA, when filling out your PPM, Subscription Agreement, and Operating agreement, the name of the investor should be titled as shown below:
Quest Trust Company FBO [Client Name] IRA #[Quest Account Number]
The titling above will replace everywhere you would normally sign. After the PPM is filled out, Quest will sign the PPM, Operating Agreement, and Subscription Agreement for you, on behalf of your SDIRA accounts.
Again, you should not be signing for your own IRA funds. An authorized Quest signer will do the signing, notary, etc. Please reach out to Manny Lewis at email@example.com, phone number 281-492-3434 ext. 3678. He is available from 8:30am to 5:30pm CST, Monday to Friday.
Verify your accredited investor status.
This is an SEC requirement for all investors in a 506c deal.
Option 1: Parallel Passport, A 3rd Party Verification Service
Note the portal is branded “Zane Holdings”…they’re one of the Sponsors of this opportunity. You will also see Parallel Passport branding…this is a third party company which can assist you in obtaining your signed verification letter. This service is no cost to you. It usually takes 1-2 business days to complete your verification once you submit the required documentation.
Option 2: Signed Letter from a Licensed Professional
You may have your accountant, lawyer, or other licensed professional send us a signed letter verifying that you or your entity is an accredited investor. All letters from a licensed professional MUST use one of the following templates.
If you already have a verification letter that you are an accredited investor that has been completed within the last 90 days, please send the appropriate template to your licensed professional so they can complete it.
Option 3: For Holder of a Series 7, 65 or 82 License
Send in your funds.
Funding directions will appear in the GrowAbility Equity Investment Portal after you have signed and submitted your PPM, and your accredited investor status has been verified.
For your security, we ask that you call Managing Partner Kevin to verify the bank information prior to wiring in funds. Please note the funding deadline is Monday 11/22/2021.