Modal Living

Increase your income, space, and property value, with a modern prefab dwelling right in your own backyard

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Security Type
Common Stock
Categories
Real Estate
Min Investment
$251
Location
Salt Lake City, UT
Offering Date
October 26, 2021
Expected Close Date
April 26, 2022
Target Raise
$10.00K-$4.01M
No. Investors
375
Security Price
$8.35
Valuation
$15,000,000
Website
livemodal.com
Number of Employees
14
Cash
$774,369
Revenue
$1,465,042
Short Term Debt
$2,715,114
Cost of Goods
$2,019,701
Long Term Debt
$2,523,441
Net Income
$-2,859,850

Company Description

Modal designs, manufactures, and installs modern, modular backyard homes and offices through a turnkey, hassle-free service. We help homeowners maximize space, while providing an opportunity to create passive income and increase their home value.

Key Deal Facts

Modal's potential market in California alone is projected to be $250+ billion
Modal achieved 1,200% YOY revenue growth from 2019 to 2020 and signed contracts worth $6.5 million to date.
Led by one of the most prominent leaders in the homebuilding industry, seasoned affordable housing executives, and partnered with the largest modular manufacturers in North America.

Management Team / Advisory Board Bios

Colin Jube, FOUNDER / COO
Colin is an experienced real-estate developer with a background in tech and finance. Prior to co-founding Base Development and Modal, Colin worked in sales at Qualtrics and at Fidelity Investments. He has developed several commercial / multi-unit residential projects.

Scott Stowell, Chairman of the Board / CEO
Scott Stowell spent 30+ years in the homebuilding industry. He served as COO, CEO, and Executive Chairman of the 8th and 4th largest public homebuilders in America. He also served as a board member of Lennar, the largest homebuilder in the nation. Scott is passionate about housing, community development, and providing sustainable and affordable homes for the underserved. Scott invested in and joined Modal because he was moved by its mission and team.

Dan Barrell, Chief Financial Officer
Served organizations ranging in size from small private equity to Fortune 100 in the financial services, technology, biotech, energy, real estate, consumer products, manufacturing, forestry, and healthcare sectors. Managed global teams responsible for building out financial capabilities, improving process efficiencies, analyzing risk, enhancing internal controls, and achieving regulatory compliance. 

David Clayton, Principal Architect
Principal Architect at Modal Living, Inc., David has been in the architectural services industry for 20+ years.

Chris Drent, Director of Construction
Chris has decades of experience in commercial and residential land development and construction management. During his career he has worked on acquisition, entitlement, design, budgeting, and construction management on several notable commercial developments.

Lily Gray, Strategic Board Advisor
Lily's background is in real estate and community development work, with a strong focus in affordable housing development, finance and policy. She is passionate about furthering high-quality, equitable development. Lily most recently led National Development Council's West Region team which provides development and financial advisory services to municipalities and nonprofits. Lily previously served as Deputy Director of Salt Lake City's Housing and Neighborhood Development Division and led business development activities for a large affordable housing developer in the Bay Area. She has a Bachelor's degree from Williams College and a Master's degree in Urban Planning from Harvard University.
Amount Raised : $385,904
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Security Description

Common stock is a security that represents ownership in a corporation.

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1 Comment

lilith , 1 year ago

These people are the epitome of fraud and scammers. Fail to pay their partners, suppliers, workers and provide faulty homes to their clients with no remorse. Does not uphold the contract they provide and warranty and as crooked as you can get. Corrupt. Not worth investing in.