[See Headlines on AME - Today] I went to this web site and found they are a Non-Profit Corporation asking for donations to purchase hotels, etc. Why not set up a For Profit Corporation and issue stock so that we can invest and receive dividends and profits from the venture? What are your thoughts on this? Pastor Paris

-- Anonymous, February 01, 2001

Answers

Pastor Paris,

There is an investment piece to Visions 2000, and it also is on the web site. It is called REIT, short for Real Estate Investment Trust Here it is:

Five Steps to Building the Real Estate Investment Trust

• Solicit Founding Sponsors and other donations so that we can purchase an interest in existing hotels with an operating history.


• Invest in several properties - purchase a minority interest in several and then syndicate several, so that we will be the managing partner in the ownership interest and provide you with the opportunity to be a minority investor.


• Create a Trust and convert all of the existing equity into shares in the trust.


• Offer each founding sponsor the opportunity to be an initial investor in the trust, thereby qualifying as a Real Estate Investment Trust (REIT). Invest in more hotels as the minority or sole owner.


• Offer shares in the REIT to the general public. Invest in income producing real estate. Using the REIT to take control of residential, commercial and industrial real estate in our communities throughout the country.

For those who have not yet seen it Visions 2000, as well as the REIT plan can be found in its entirity at the Visions 2000 web site or you can read the story as it ran on A.M.E. Today in Cross Talk under Visions 2000

I hope it soon will be ready to accept investers soon.

-- Anonymous, February 01, 2001

Pastor Paris, What about a venture capital fund, set up by the AME church and its membership. The general church have funds and would receive residual income their investments. It (church) has the personnel talent to properly manage the investments, plus set in place a management mentoring for new businesses.

-- Anonymous, February 01, 2001