Garage ADUs
Early Stage
Efficiently converting garages into affordable work force housing
Overview
Raised: $120,000
Total Commitments ($USD)
Platform
Small Change
Start Date
08/18/2022
Close Date
02/28/2023
Min. Goal
$100,000
Max. Goal
$250,000
Min. Investment
$1,000
Security Type
SAFE
Series
Seed
SEC Filing Type
RegCF
Valuation Cap
$20,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
03/04/2023
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$622
# of Investors
17
Momentum
Funded
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Year Founded
2020
Industry
Real Estate & Construction
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Garage ADUs is raising funds on Small Change. The company converts garages into affordable and efficient workforce housing units. The mission of the company is to increase workforce rental housing and homeowners’ income and provide multi-generational living at a low cost. Garage ADUs has constructed a studio conversion in San Jose, CA, and a second 1-bedroom in Burlingame, CA, is under construction. The business has construction approvals in hand and has launched several incentive programs. Rebecca Miller founded Garage ADUs in January 2020. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $250,000. The campaign proceeds will be used for construction, expansion, and marketing.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$210,110 |
$302,571 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-422,238 |
$-424,531 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$19,739 |
$0 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$19,739 |
$0 |
|
Short-Term Debt |
$410,324 |
$235,797 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$410,324 |
$235,797 |
Financials as of: 08/18/2022
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