{"id":7475,"date":"2022-05-24T06:55:36","date_gmt":"2022-05-24T01:25:36","guid":{"rendered":"https:\/\/aayushbhaskar.com\/?p=7475"},"modified":"2022-06-03T16:36:47","modified_gmt":"2022-06-03T11:06:47","slug":"lofty-ai","status":"publish","type":"post","link":"https:\/\/aayushbhaskar.com\/lofty-ai\/","title":{"rendered":"Lofty AI Review – Real Estate Investing – The Crypto Way!","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
Own US Real Estate \u2013 The Crypto Way. Yes, you read it right.<\/p>\n
The prospect of investing in real estate abroad has always been alluring.<\/p>\n
Unfortunately, capital controls of the TradFi system at home & ownership laws abroad have made this an opportunity that only the ultrarich can afford.<\/p>\n
Well, not anymore. Enter: Lofty Real Estate \u2013 a blockchain-based service that allows you to own US Real Estate through tokens \u2013 The Crypto Way!<\/p>\n
Interested?<\/p>\n
Read On.<\/p>\n
<\/p>\n
Lofty<\/a> is an online marketplace that:<\/strong><\/p>\n – Helps prospective sellers of properties in the US tokenize their real estate;<\/p>\n – Offers tokenized properties for sale to investors globally;<\/p>\n – Appoints property managers on behalf of investors who collect rent & make hires for repairs & maintenance;<\/p>\n Tokenization is the process of creating fractional representative units of an asset. In the case of Lofty, each property’s appraised value is divided into units of US$50 each, and these units are called tokens.<\/p>\n So a property with a US $100,000 value will have 2000 units of USD 50 each representing the entire ownership rights in the property.<\/p>\n Lofty utilizes this method of distribution because it opens up investment<\/a> avenues for a huge market at home & abroad for people who don’t have the financial capital and\/or our constrained by a myriad of laws to invest directly in physical real estate.<\/p>\n All you need is a cell phone & an Algorand<\/a> wallet with USD50 worth of stables, and you’re all set.<\/p>\n A property owner desiring to sell his property applies to the Lofty marketplace. At this stage, an initial desktop appraisal is undertaken to approve or deny the listing based on several factors including but not limited to occupancy status, condition, location, rental history, etc.<\/p>\n Once the property is approved, it is put under contract by a newly formed LLC. The LLC is then tokenized into individual $50 tokens on the Algorand blockchain<\/a>.<\/p>\n The next step entails the hiring of a professional property inspection company that shall provide a report to improve upon the initial desktop appraisal. The main concern is the need for repairs which, if required, are done so by the seller or a net payment is accepted by him with a credit to the LLC.<\/p>\n <\/p>\n In the last step, the property is listed on the Lofty marketplace. Once all tokens representing the property are sold, that is, the property is fully funded, and the LLC will move for transfer of the property by registration of the title deed in its name.<\/p>\n The signup<\/a> process is twofold. The first part deals with the 5-minute process on their website. Being a regulated entity, they require certain KYC<\/a> documentation so don’t be alarmed.<\/p>\n2. What is Tokenization & Why Does Lofty Use It?<\/h2>\n
3. How Does the Lofty Marketplace List Properties?<\/h2>\n
5. I Want to Invest. How Does Lofty Work?<\/h2>\n
5.1. Sign Up<\/h3>\n