So, to dive in to what we envision a typical transaction to look like... let's say you are a crypto investor and you want to buy a second home in, let's pick a country, maybe Italy. You go on our platform and you enter in your specific requirements and also some other information like the type of neighborhood you want to live in, beach front, or not, mountains, maybe tourist area or suburban area or urban, do you like it to be walkable, have mass transit, etc. Our AI assistant would then take those specifications and show you properties that match.
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So, you see a property that you like, you have a few options, you could opt in to use a real estate agent from our platform that will be vetted/verified, and you can either do a remote viewing of the property, or you can travel there if you prefer. In any case, we will be addressing one of the biggest problems in international real estate, which is knowing who to trust. In the US we have a very robust licensing and background system that does a good job of making sure that Real Estate Agents are safe to work with, but not every country employs that level of licensing. We will have a hierarchy of agents based on their trust level with us and require different levels of background investigation into them, depending on how they want to be viewed in our platform. As an aside, this also goes for professionals such as appraisers, property inspectors, etc, which i will be talking about in a minute.
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At this point, you decide that you like the property and want to submit an offer. In most instances, this would require an agent to draft up a purchase offer and earnest deposit. You can opt to do that with an agent, or our system can do that for you. In either case, you can have the entire process take place in our platform, even if the agent creates the offer, it would go through our platform. You go through the offer, counteroffer/negotiation stage and decide to move forward, you sign the purchase offer/contract right in our platform and the purchase process starts.
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At this point, you will need a property inspector ( highly advised ), an appraiser, a termite inspector, etc. All of which will be available in our platform and of which we will generate revenue from. Also, since we will be hosting the whole transaction process, the transaction fees/processing fees will become revenue, as will some level of referral fees (subject to jurisdiction laws), as well as closing/escrow/title insurance fees. We will be able to capture quite a lot of the fees that are normally part of the transaction. In addition, since our system will be automated to the highest extent possible, we can offer discounted fees. This all becomes revenue that is then shared with holders of CRE.
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So you order those services on our platform. Those professionals do their work and submit those reports directly into our platform so that you and your agent can see them. I should say also, prior to these services being ordered, the Escrow process will start, which will be something we will either fully complete ourselves, or with the assistance of local escrow companies. This might be the hardest part of the process for us to do as a company given how much the laws differ by country and also, the quality of title records in each different country. But the aim here is to be the trusted company that gives buyers the confidence and trust they want/need in order to buy properties in countries that speak a different language than them and also are less developed/less regulated, we become their buffer.
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During this time, we anticipate that you will be able to apply for a loan either traditionally or with crypto, and my intent is for us to function as the Broker for these loans. I was in the mortgage industry for quite a bit of time and this is where our project can make the most revenue. If we provide easy to obtain crypto loans, but also offer full financing services, our revenues could be incredibly big, so big that I can't imagine a number to put on that, but this is something we will be looking to do, heavily. Of course, law and regulations play a big part, but I understand the US market, so I know how we could do it here, at the very least. We will deploy a team of lawyers to work through those specifics in each country we offer the loans.
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As well as that, we will offer the ability to pay in full for the property with crypto, but also, for the ability to crowd fund a property purchase via tokenization. And yet another pursuit of ours will be to allow investors to crowd fund mortgages/crypto loans via tokenization.
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if you need a lawyer, or accountant, etc we will have those listings as well. Revenue will be generated by a. selling leads b. offering prime placement on our platform i.e. Featured Agent of the week, Featured lender, etc.
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We want to have a hot markets feature that shows up on the front page that lets people know, hopefully via ai, where the best markets are to buy at the moment based on market conditions.
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We also will be pursuing direct relationships with developers so that we can directly sell their properties to buyers and we will have a team of agents that work with us for that, allowing us to capture revenue from that as well.
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I have to continue this a little later today, however i wanted to touch on this. We will be making sure that Home3 is chock full of listings from the very beginning, by employing APIs that let us directly connect to listing services in various countries. The US has a system called the MLS, literally every home for sale in the us except for those being sold by owner, are listed there. BUT here's a great part about what we are doing, we can also offer to those people who want to sell their home without a realtor, a very cheap option to list their property, and also for us to be able to list their property in the listing service of their country, which often times requires that they are working with an agent. Its a gate keeping type of thing, and we can help those wanting to go a different route, to do that and save money.
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A question that was asked of me....
Are we anticipating an R.E.I.T.?
The answer... Yes!
Are we anticipating an R.E.I.T.?
The answer... Yes!
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In fact, during the building of our suite of products, we will be discussing funding raises for property purchases. We would be searching out income producing properties so that we can have the benefit of not only the appreciation of the value of the property, but also income that can be shared between investors. Due to the nature of crypto, I believe that we can have a very low barrier to entry in order to invest in Real Estate, a discussion I can have with all of you , and we as a community can decide what the minimum buy in should be to invest in a property. Since we can tokenize and fractionalize ownership, it really doesn't matter the size of the investment, you would just receive your share of the profit/equity based on your percentage of ownership of the property.
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That being said, if any of you have inside information on any properties for instance, apartment complexes, hotels, strip malls, office buildings, etc. please let me know.
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oh btw, if you are unaware of what an REIT is, its a Real Estate Investment Trust
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So, anticipate these announcements in the nearer future than any of our platform will be ready, as we will be looking to start building the real estate portfolio as soon as possible.
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Just a couple more days folks. We had a major decision to talk about in the middle of white paper prep, but we are almost there. We are finishing it up and making it graphical for the web page, and we have another announcement that will come along with it, on Monday. Debate about the announcement also took some extra time. We will have a vc to talk about both when we release them on Monday as well. Stay tuned for times. We know you are all as excited to read it as we are to release it!
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I will say that we have some steps to take over the next couple weeks that are going to position us for the best possible chance of success. Once the white paper is officially released on Monday, we anticipate that we will gain a lot of momentum quickly due to planned marketing push and platforms development. We will have more contests, more ways to help us succeed, vcs, etc . So we expect a busy summer for our project!
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I wanted to make some statements in regards to the Whitepaper and Re-Launch here....
To start, I want to forward a message from Fahad in regards to the re-launch