$104.3m follower assets
Here is my new Lofty investment - just $200 but will generate a Cash-on-Cash return of 9.1%
If you want to know more, you can also check my last update on Lofty Platform.
Where is Lofty? Not in the App Store? I see a “wallet” in there; is this the one that’s crypto related that I forgot to get into? I’m only using Landa right now but have a few others I want to check out.
@wall_street_deebo Hello, lofty is only on the web interface, so no app atm.
Here is the link (with a $25 referral code if you want)
It uses $ALGO.X to keep track of the ownership of the properties, but payment in/out and the amount of rent are all in USD.
You can check out my review.
And the 3-month update
@stock.owl one last quick question. I’ll be able to watch & read later after work. Do they use Ethereum, Polygon, or some other chain? My Crypto.com wallet is the only convenient one I like to use but ERC-20 transactions’ gas fees are so high I won’t use their blockchain. They support Polygon & Avalanche as well as Ethereum now.
@wall_street_deebo I'm not a super-expert in crypto, but they use the Algorand blockchain, which to my knowledge, is completely inexpensive.
Every time you invest some money, Lofty sends you a few 0.xx ALGO to cover the blockchain fee, so you spend exactly the amount of your investment.
But again, all investments are in USD, and I transferred money from my card/bank into Lofty and withdrew something to my USD account... I never used any crypto to invest
@stock.owl didn’t realize Algo was it’s own chain. I’ll look for an Algo wallet and watch your video after work. I’m pretty sure I watched it previously I just need a refresher.
This is very cool!! Would you say this is a good way for someone who’s new to real estate investing who wants to dip their toe in?
Also, how do they determine which properties to invest in? And can ppl have a say in which properties that Lofty lists?
@sidnistandard Hello. Lofty is a good way to start investing in real estate if you are on a budget. It also allows you to invest in a market that can be off-limits for many (for example, I am from UAE, so it's not easy to buy real estate in the US).
The complete transparency of the investment shows you all the peculiarity of any property (problem with tenants, repairs, additional expenses, etc.), which is something many are unaware of.
Regarding how they choose properties to buy, this is not 100% clear. They have some algorithms to evaluate neighborhood prices, but I don't dig much into that.