Perpetual income based on real estate renting. Very interesting. Project seems to make sense, but I will have to really dig into the whitepaper.
Hi BTCBusinessConsult,
Thanks for checking us out!
Our concept is not renting, it's a legitimate sale but in a whole new way. We build, sell, and finance our homes. From the moment in which a lot is either developed or purchased by us, we put the lot inside of its own individual corporation, and we go ahead and affix the end user mortgage to the property. When the property sells, the new buyers execute a promissory note that initiates payment terms toward the mortgage, and the shares of the corporation are transferred into the name of the buyer where the shares of the corporation are held in third-party escrow under an escrow agreement that the parties mutually agree to abide by.
Here's what's different about us: Our buyers execute a maintenance agreement with us to where we cut the grass, maintain the landscaping, fix faucets, leaks, etc., in real-time as they occur. That means service after the sale, and it means that we have eyes on our collateral on a monthly basis. In essence, we're paid by our buyers to maintain our own collateral and that's a great thing, because we plan in advance for the possibility that we might be selling it again. There's a built in minimum buyback clause that the buyers can execute that states we'll buy the house back at two-thirds what they paid for it. That means that they can lock in their maximum risk exposure, and it means that we've placed ourselves on the same side of the table as our customer: what's good for them is good for us, and the customer has traded interest rate risk, or the risk of time, in favor of equity participation with us. We all win!
There's of course more to it, but in essence that's the difference between a rental program and and ownership program. Thanks again for checking us out, if you have any questions about the whitepaper please let me know!