Orinda Union School District March 12, 2018 Presentation 10 min - - PowerPoint PPT Presentation

Orinda Union School District

March 12, 2018

Agenda

Presentation 10 min

Why down payment assistance? How does it work? Who is Landed? How do we get started?

Questions 10 min

Educators are an essential part of every

• community. But for educators in expensive

communities, buying a home near work can be challenging. That’s where Landed comes in.

Landed is currently working with 40 school districts throughout California

Active Programs

School Districts

Example School Districts with Active Programs

Burlingame School District Campbell Union High School District Emery Unified School District Evergreen School District Larkspur-Corte Madera School District Los Altos Elementary School District Milpitas Unified School District Mountain View-Los Altos High School District Ravenswood School District Redondo Beach Unified School District Redwood City School District Reed School District San Mateo-Foster City School District San Mateo Union High School District Santa Cruz City Schools Sequoia Union High School District Sunnyvale School District West Contra Costa Unified School District Woodside Elementary School District

Carol + Fidel

Married school teachers on the peninsula Purchased: Aug 2017

Income: $220,000 Savings: $150,000 Credit: Super-Prime Purchase Price: Home Type: Down Payment: Landed Support: Mortgage: $1,200,000 Single-Family $120,000 $120,000* $960,000 Stanford Credit Union

*This money came from Chan Zuckerberg investment pool. On sale, they will get 25% of any price increase above $1.2M plus the original $120K

Sample Purchases

Invested $120,000 on $1,100,000

Purchased: Sep 2017

Invested $120,000 on $1,200,000

Purchased: Sep 2017

Invested $107,500 on $1,068,500

Purchased: Aug 2017

Invested $88,580 on $885,800

Purchased: Aug 2017

Invested $88,580 on $885,800

Purchased: Aug 2017

Invested $120,000 on $1,200,000

Purchased: Sep 2017

Invested $120,000 on $1,100,000

Purchased: Aug 2017

Invested $61,589 on $615,888

Purchased: Sep 2017

Meet the Sara and Isaac.

Landed co-invests with educators and staff at schools to buy homes. Here’s how it works.

$80,000 10% Educator Down Payment $80,000 10% Landed Down Payment $640,000 80% Mortgage

$800,000 Home

Here’s how it works.

Power of a 20%+ Down Payment

Smaller Mortgage Don’t Have to Pay Mortgage Insurance

Not a loan.

Not a loan. A shared investment.

No monthly payments.

Original Investment

Original Investment + 25% Appreciation

Original Investment + 25% Appreciation

Original Investment + 25% Depreciation

Original Investment + 25% Depreciation

Customers choose when to exit the partnership and pay the Landed Fund back. Anytime at or before 30 years.

Partner Lenders Partner Real Estate Agents

Participating

No Fees

X

Homebuyer Education

Landed’s team has experience

• riginating these partnerships

Legal Support:

Jonathan Asmis -CEO Alex Lofton –Growth Jesse Vaughan - Investing Jess Zhao -Customers Ian Magruder -Partnerships Nikki Lowy -Partnerships DaveSterlitz Originated over 500 similar investments for hedgefunds Katherine August-deWilde Former President First RepublicBank

Key Advisors

Carol Galante UC Berkeley Terner Center for Housing Innovation

Key Backers:

Emily Eshman -Customers

Landed is the ‘Bank of Mom and Dad’ for those without rich parents.

CarolGalante Former Federal Housing Commissioner (2009-2014) Faculty Dir., Terner Center - UC Berkeley

Landed has partnered with impact investors to establish a fund (no district resources) Tell Your Staff

Bringing Landed to OUSD: What’s Next?

Host an info session

Eligibility

Up to $120k in down payment support For any type of primary residence in an eligible area Must qualify for a primary mortgage

For teachers and staff who have worked at a partner district for the last two years. You commit to staying for another two years.