Frequently asked questions

Our offerings are available only to accredited investors, as defined in SEC Rule 501(a), who also meet the requirements of the specific offering. We do not accept non-accredited investors. Any offering will be limited to accredited investors whose status we verify.

It's an SEC definition (Rule 501(a) of Regulation D). Individuals generally qualify if they meet any one of these tests:

• Income: more than $200,000 in each of the last two years (or more than $300,000 together with a spouse or spousal equivalent), with a reasonable expectation of the same this year.
• Net worth: more than $1 million, alone or together with a spouse or spousal equivalent, not counting your primary residence. Mortgage debt on the residence is generally not counted either, but debt above the home's value, or new borrowing against it in the 60 days before you invest, does count against you.
• Professional credentials: holding an active Series 7, Series 65, or Series 82 license.
• Insider status: being a director, executive officer, or general partner of the issuer (or of its general partner).

Many entities also qualify, including trusts, LLCs, and corporations with more than $5 million in assets that weren't formed to make the investment, and entities owned entirely by accredited investors. The SEC is considering adding other credentials, but none are in effect as of October 2026. See the SEC's Investor.gov accredited investor page and ask your advisor. Any offering will be limited to accredited investors whose status we verify. See “How do you verify accredited status?” below.

No. This website does not offer any investment, and no Ax Multifamily offering has been made. If we launch one, it will be offered only through offering documents. Any offering will be limited to accredited investors whose status we verify. Joining our list does not by itself make anyone eligible for any offering.

Before anyone can invest, we take reasonable steps to verify that they are accredited. Checking a box or self-certifying alone is not enough. Depending on your situation, verification may use one of these methods:

• Third-party letter: a written confirmation from your CPA, attorney, registered investment adviser, or registered broker-dealer that they have verified your accredited status within the prior three months.
• Document review: we (or a verification service we use) review income documents, such as IRS forms for the last two years, or net-worth documents, such as recent asset statements and a credit report.
• High-minimum method: where an offering uses a high minimum investment, verification based on that minimum plus your written representations, as our securities counsel defines it for that offering.

Each offering's documents will state which methods it accepts. We keep verification documents confidential and use them only for this purpose.

No. Our offerings are private placements made under an exemption from registration. They are not reviewed or approved by the SEC or any state, and the interests can't be freely resold.

You'll receive a short welcome series about how we invest, our monthly market and company update, and an invitation to book an intro call with Josh. You can unsubscribe at any time. Any offering will be limited to accredited investors whose status we verify.

Private real estate is illiquid. Hold periods are often several years and can be longer than expected. You should be prepared to hold for the full term.

No. Distributions, if any, depend on property performance and are never guaranteed. You could lose some or all of your investment.

LP investments generally issue a Schedule K-1, and real estate may provide depreciation benefits. Tax outcomes depend on your situation, so consult your CPA.

It's Josh's opinion, as of October 2026. For years, he didn't believe the multifamily market supported raising money from investors, so he didn't. In his opinion, that may be changing, based on pricing resets, slowing new construction, and refinancing pressure on some owners. What could prove him wrong: rates staying high, rents or occupancy weakening, prices not resetting where we buy, costs rising faster than rents, or a recession. Timing is uncertain, and no offering exists today.

Book a call through our calendar or email [email protected].