SUMMARY
Lofty.ai
Team:
- CEO and Founder = Jerry Chu
- COO and Founder = Max Ball
- Founding engineer/ CTO = Mark Keane
Lofty provides a marketplace where individuals can quickly buy and sell fractional ownership in real estate for as little as $50.
Property owners can list their real estate on Lofty, where we transform the property’s equity into blockchain-based tokens through tokenization. They can then sell as much or as little ownership as they wish on the platform.
Thousands of investors globally are using Lofty to grow their real estate portfolios. Many have also listed and sold portions of their ownership in properties they already own, including their primary residences.
Lofty uniquely allows users to buy and sell fractional property ownership with no lock-up periods or restrictions.
Now, we’re introducing a feature enabling instant buying and selling of property shares without the need for a traditional counterparty.
For the first time, you can trade equity in a property—gaining legal ownership and management control—with a user experience similar to trading stocks on platforms like Robinhood.
Pros
- Simple way of investing and getting between 9% to 11% revenue
- Nice looking marketplace
- An opening to the US real estate market
- Provide useful document such as (inspection report, appraisal, past sales etc.)
- Rents accumulate daily
Cons
- A lot of people are saying the houses are way overvalued so when trying to resale the tokens you lose a lot of market value
- Many questionable points about the houses put on the market
- Local property managers haven’t been able to deliver
- You have to reach a threshold before retrieving the rents
- Customer service experience doesn’t seem to meet the standards of the website itself.
- Complicated to use for people outside of the tech world
- Laggy website