Evergreen Capital promises 10% returns backed by residential real estate loans, but the venture arrives amid rising concerns about investor-driven housing costs in Central Kentucky
LEXINGTON, Ky. — The founders of one of Central Kentucky’s most prolific home-buying operations are making a play for Wall Street-style capital — this time asking accredited investors to bankroll the very deals that have fueled the company’s rapid growth.
Joseph Back and Eric Martin, the co-founders of Rapid Fire Home Buyers, announced the launch of Evergreen Capital Fund LLC on Sunday, a private real estate income fund structured under SEC Rule 506(c). The fund targets $10 million in capital from accredited investors and promises a 10% annualized return paid in quarterly distributions, with a $50,000 minimum investment and a 12-month lock-up period…