Show HN: $0 commission property stock exchange

proptee.io

2 points·aluxian··3 comments

Hi all, one of the co-founders here.

We are 4 engineers who started Proptee to solve a problem of ours — we didn’t have enough money and credit history to get a mortgage.

Proptee connects landlords with investors. Landlords list their property on Proptee to release equity (like remortgaging). On the other side, we have investors who wish to invest in property in small amounts.

We split each property in small shares. This way, investors can buy shares of rental properties and, like on a stock exchange, sell later at a different price. They also receive monthly dividends for holding onto these shares.

That’s Proptee in a nutshell.

How do you prevent scams, like a "landlord" that sells part of a unbuilded place as if it were a house, or a house that is infested with termites, or has a lot of water in the basement, or any other problem that is difficult to notice remotely?

We do our own due diligence checks for each property we list on Proptee. All listings need to have a recent valuation done by an independent valuator and an inventory check.

If the landlord sells 100% of the property on Proptee, then we would manage the property, so it's in our interest not to accept bad properties.

If the landlord sells less than 100% then they will continue managing the property themselves.

Either way, both us and the landlord are aligned with the investors.

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