Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
December 07 2016 - 8:20AM
Edgar (US Regulatory)
PROSPECTUS SUPPLEMENT NO. 3
(To Prospectus dated May 10, 2016)
|
Filed
Pursuant to Rule 424(b)(3)
Commission File No.
333-196282
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5,000,000 Shares
Common Stock
This Prospectus Supplement
No. 3 (this "Prospectus Supplement") supplements and amends the prospectus dated May 10, 2016 ("Final Prospectus"),
as supplemented by our Prospectus Supplement No. 1 dated August 30, 2016 and Prospectus Supplement No. 2 dated September 30, 2016,
relating to the public offering of up to 5,000,000 shares of our common stock. You should read this Prospectus Supplement in conjunction
with the Final Prospectus, and this Prospectus Supplement is qualified by reference to the Final Prospectus, except to the extent
that the information contained in this Prospectus Supplement supersedes the information contained in the Final Prospectus. This
Prospectus Supplement is not complete without, and may not be delivered or utilized except in connection with, the Final Prospectus,
including any additional amendments or supplements thereto.
Offering Update
As of the date of this
Prospectus Supplement, we have sold in our public offering a total of 3,594,620 common shares for the gross proceeds of $17,973,100.
Our public offering of common shares will continue until the earlier of all 5,000,000 common shares having been sold, our earlier
decision to terminate the offering, or December 31, 2016.
Houston 100 Purchase and Sale Agreement
On September 27, 2016,
we entered into a Single Family Homes Real Estate Purchase and Sale Agreement with Red Door Housing, LLC, a Texas limited liability
company, for our purchase of a portfolio of up to 100 single-family homes located in the Houston, Texas, metropolitan area. Red
Door Housing is unaffiliated with us. On November 29, 2016, we closed on the acquisition of 97 single-family homes pursuant to
our agreement with Red Door Housing. The contract purchase price for the 97 acquired properties was approximately $9,091,000, exclusive
of closing costs. We funded 100% of the purchase with cash. The acquired properties average 1,482 square feet and are mostly three-bedroom,
two bath homes. Of the acquired properties, 55 are currently subject to one-year leases, five are vacant, and 37 are subject
to month-to-month leases.
Please see “Risk
Factors” beginning on page 17 of the Final Prospectus to read about certain factors you should consider before buying our
securities.
Neither the Securities
and Exchange Commission nor any other regulatory body has approved or disapproved these securities or passed upon the accuracy
or adequacy of this Prospectus Supplement. Any representation to the contrary is a criminal offense.
Prospectus Supplement
dated December 7, 2016
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