When you live on the West coast, how do you invest in real estate on the East coast? The solution is to let someone else take care of the details. Enter Roofstock, a company that is making it easy for people to invest in real estate all over the country.
One of the advantages of the Roofstock model is that an investor can purchase real estate in cities like Birmingham or Indianapolis, where housing prices are lower than those in pricey coastal markets. Many of the properties that Roofstock lists come in under $100,000, making them feasible investment opportunities for many. Even more, during the vetting and review process, Roofstock sends out a team to conduct due diligence on properties and check for any issues and repair costs. It also performs a preliminary title search and a valuation analysis of the property.
Companies like Roofstock and Propy are transforming the real estate investment landscape. While the Internet is helping to transform long-distance real estate investing, blockchain tech can have just as much of an impact on the industry.
How the Internet Is Transforming Long-Distance Real Estate Investing
With the Roofstock model, an investor can purchase a rental property and earn an income (without ever seeing the property in person). It is an entirely new paradigm that would never have been possible without the Internet.
Roofstock reports that many of the buyers on the platform put approximately 30% down and finance the rest through government-subsidized loans. The ability to build a “nice portfolio” through those loans, according to Roofstock, is “quite attractive.” Thus, earning an income from a far-flung rental property is a possibility, and many people are taking advantage of the opportunity.
Blockchain Tech Can Have Just as Much of an Impact
While Roofstock is a good option for long-distance real estate investing, when it comes to facilitating real estate deals securely on the blockchain, Propy is the best platform to use. Through the use of blockchain technology, Propy simplifies the entire buying process with paperless transactions and easier buyer-to-agent communications. The process is transparent and safe-to-use, and the time-stamped records on the blockchain are immutable.
Companies that offer cutting-edge blockchain-based products, like Propy’s Transaction Platform, are proving what is possible with this new technology. At some point, blockchain tech can have just as much of an impact as the Internet on the real estate industry.
