How to buy fractional real estate using the Ekta Real Estate app
- November 7, 2021
- 6 minute read
Our mission at Ekta Real Estate is to alleviate the pain points in the industry by making the business of real estate faster, easier, and more accessible for everyone. Our app platform reduces the barriers, complexities, and processes that are associated with the traditional real estate market and help people get started in real estate for as little as $100.
A better experience for buyers
It can take up to 2-3 months to buy or sell a property. From due-diligence, banking applications, shopping different areas, and to dealing with credit, buying real estate can take a lot of time, effort and pain.
Here is the average 17-step process needed for purchasing an investment property. If this is your first time, it is only slightly easier on your 10th time. Time, capital and resources are all needed to secure a good property portfolio.
Ekta Real Estate is going to change all of that to help you get into real estate faster, easier and within your financial capacity.
Ekta Real Estate's 5 steps to get into real estate
- Sign-up & complete KYC process – Otherwise known as “Know Your Customer”, buyers go through a simple KYC process consisting of answering some basic questions, uploading a photo ID, and linking their bank, debit, or credit card account to the app.
- Add funds – Easily fund your wallet whether you understand crypto or not. Simply click on the wallet button and fund your account with your credit card, bank card, bank transfer or crypto if you already have USDT.
- Select FREMs – To make fractional real estate accessible to the world, we use Fractions of Real Estate Management (FREM) tied to a democratic management group that manage individual properties in the marketplace. A buyer can view a property in the marketplace and choose the asset that interests them, then purchase as many FREMs as they like starting at $100 each.
- View portfolio – Once you have deposited the amount and the purchase clears, you will be taken to your portfolio page to see the purchased asset.
- Be of service – Now that you have bought a FREM, you will be added into the management group (also known as a DAO), where you will make proposals and cast votes on the management of the property to help the property perform better. At regular intervals set, you will shared earnings by providing management services to the property.
The Ekta Real Estate app allows users to get into real estate in a few clicks of a button. Now you only need 5 steps that take minutes to complete. By using blockchain technology, you can start your real estate journey easily and start building your real estate portfolio today.
A 60 second introduction into how the Ekta Real Estate app works
Watch a 60-second video that shows how the Ekta Real Estate app works below.
Our streamlined approach
The Ekta Real Estate team has over 60 years of experience in the industry. From property development, property management, real estate sales and tech, we understand the ins and outs of what makes a good or bad property.
Our system has been built to streamline the onboarding of developers and property owners to drag and drop your property and its documents to start the application process. The marketing capabilities are integrated with the DREAM program that offers a generous affiliate referral commission of up to 2% and the tech behind the app allows for simplicity in buying and selling real estate on the app globally.
To make the buyer’s experience a faster and more satisfying one, we have three areas we focus on: the onboarding of rented properties, managing of the properties to maintain or surpass the historical rental performance and to educate and reward people to refer the app through the DREAM program, adding extra commission to their current income producing activities. Below you can learn more about the Ekta Real Estate process.
Streamlined property onboarding
Ekta Real Estate has decades of experience in understanding what makes a great property. We use software that shows the growth of local areas along with a due diligence onboarding structure that helps us qualify only the best real estate for the Ekta real estate app and it’s users. This process starts begins with diving deep into the application request. Is the property well maintained? Is it constructed and rented? Does the surrounding area have great infrastructure and long term growth? Is the area a tourist destination with daily rentals or is it a residential neighborhood? The next step is making sure all documentation is up to standard and is free from any red flags and red tape. If all boxes are checked on the Ekta Real Estate onboarding criteria checklist, the property owner will be qualified and be able to list their property onto the Ekta Real Estate app and create their FREM.
Positive growth through property management
The most important aspect of fractional real estate is that we abide by regional regulations globally and keep our developers, buyers and DREAM team safe. We achieve this though FREMs. Fractions of Real Estate Management. What is this exactly? By purchasing a FREM, you enter into a management group for the property you chose where you will be providing management service for the property. This means that you can earn through making proposals, voting proposals and ways to help that property perform better. The great thing about this is that you can also sell your FREMs on Ekta Real Estates secondary market. Over the years as the property grows in value, so does the management service’s earnings and enables property growth through property management.
Incentivized DREAM Program
The DREAM (Digital Real Estate Affiliate Model) Program offers a generous referral commission of up to 2% for referring your friends, family, followers and network to the the Ekta Real Estate app.
Everyone in the world has a network, be it large or small, professional or social, online or offline. The Ekta Real Estate app has designed the DREAM Program for two reasons:
1) To let developers do what developers do best: develop quality properties. Ekta Real Estate empowers them to spend more time building beautiful developments and sell them fast.
The DREAM program has been created to solve their marketing and selling needs. This creates higher revenues and lower overheads in terms of staffing and marketing for the developer.
2) Real Estate agents have numerous properties that have been listed for 6 months to 2 years. Having a fractional option can help agents sell more of their inventory, hence making the clients happy and their back pocket even happier.
However, it doesn’t stop there because studies show that the majority of people believe in the real estate industry as being a safe and reliable market. Furthermore, how many people in the world who are interested in real estate can afford $100? A significant amount. This means that everyone has an opportunity to refer the Ekta Real Estate app to their network whether you are a blue collar worker, stay-at-home parent, accountant, doctor, firefighter, teacher, student or digital nomad.
To learn how you can take advantage of the DREAM Program, click the link below.
Benefits of using the Ekta Real Estate app
Simplifying the process to buy and sell real estate through the Ekta Real Estate app comes with even more benefits. We want this to be accessible to everyone on a global scale so anyone can enjoy the benefits that real estate can offer. Below are a few benefits of getting started in real estate with the Ekta Real Estate app.
- Low barrier to entry – With Ekta Real Estate, the ability to buy $1,000,000 or $100 worth of FREMs requires the same process. With our technology, you can now build your real estate portfolio within your financial means.
- Diversifying your portfolio – Diversification in any asset is important to reduce risk. With the Ekta Real Estate app, our technology allows buyers to purchase in different property markets.
- No fees or hidden costs – Ekta Real Estate removed fees for buyers and further takes care of all property management through Ekta Property Management and accredited third party property management companies. Now you can focus on finding more properties to add to your portfolio.
- Earn through property management services – By purchasing a FREM and then providing management services needed to maintain and improve the chosen property, you will be able to earn from the performance of the property at regular intervals. Every property has its historical earning data available on the listing so you can choose which area and historical data is right for your portfolio.
- Automation – Our blockchain technology makes it faster, easier and more accessible for developers and property owners to onboard. It can take a long time to go through legal, banking and due diligence processes, so we have cut that time down to as short as 7 days for listing a property.
- Global markets – In the traditional real estate sector, most purchases are in your local area. Bigger investments can be made overseas, but are usually designed for big investors. With our technology we are able to offer the buying of FREMs globally thanks to blockchain technology which allows access to higher historically earning markets. More properties can be listed by developers which means more opportunity for buyers.
- Blockchain technology – We have been working on the technology since 2020 and it stacks up well against current players in the market. By integrating this new technology with real estate, we can fulfill our mission of lowering barriers and inefficiencies on a global scale to give the world access to getting started in real estate for as little as $100.
The Ekta Real Estate app has been built by developers, property managers, buyers and agents so that we can solve the problems in the real estate industry and make it faster, easier and more accessible for everyone in the world.
Question 1: What is a FREM?
Answer: FREM stands for “Fractions of Real Estate Management”. Starting at $100 per FREM, this is the basic building block of how Ekta Real Estate offers fractional participation into real estate. As a FREM owner or holder, you have a seat in a democratic property management group (aka a management DAO) that provides services to the property for earnings in exchange.
These services, which can be to offer proposals to improve the property and to vote on the proposals themselves, qualify each FREM holder earnings based on their service. It’s fun and compliant way to get into real estate while you learn and earn.
Question 2: What is a DAO?
Answer: DAO stands for “Decentralized Autonomous Organization”. Each fractionalized property listed on Ekta Real Estate has a property management DAO attached to it which is built on a smart contract that helps govern the property through proposing and voting carried out by the members of the DAO, which are the FREM owners on our platform.
Each FREM owner has the ability to propose ideas, vote on the proposals, and problem solve in the property’s best interest. By participating in these management activities in a given earning period, FREM holders unlock their earnings. The length of the earning period is set by the property owner who created the listing.
Question 3: Who can buy properties on the app?
Answer: It is open to all countries where our technology and model is recognized by local regulations. The need to be an accredited investor is no longer needed thanks to blockchain technology as long as this first condition is met.
Question 4: What returns can I expect, and how often are rental payments distributed to buyers?
Answer: Every property has historical earnings data from the property management company. In the beginning, we are targeting tourism-heavy areas that have a higher historical earning data than residential areas. Therefore, 12%-26% historical earning data is the target when onboarding properties.
FREM holders will be able to claim their earnings after they’ve satisfied the voting threshold that contributes a service to the management of the property. The earnings will be paid at regular intervals.
Question 5: What is the minimum purchase?
Answer: Some platforms that also sell fractional real estate market a minimum of $100 to buy property on their platform, but this is not the case for every property. This is because they give the property lister options when listing while we set the minimum purchase at $100 for every property that lists on Ekta Real Estate.
In general, people save for years just to prepare for a deposit on a house. Imagine if that money saved could have bought properties immediately and enabled the building a real estate portfolio without worrying about paying long-term interest to banks.
Our number one goal is to give everyone in the world access to real estate and lowering the barriers of entry by using blockchain technology.
Question 6: Will I have any responsibilities for managing properties I buy? If not, who is responsible?
Answer: Onboarded developers will have a property management system and team connected to their properties before being qualified. This team handles the day-to-day maintenance activities of the property such as basic repairs and services.
In addition, the DAO that manages the property will have the power to vote on proposals to improve the property and increase its performance and value. As a FREM holder of a property, you will actively participate in the DAO’s management activities.
The DAO will be able to direct the day-to-day property management system’s activities when proposals are voted on and passed in the DAO. This relationship is based on a service agreement between the two parties.
Question 7: What happens if I want to sell my FREM?
Answer: We do not want to lock any buyers into long term contracts. If you would like to sell your FREM then you can sell it on our secondary marketplace. This is where Ekta Real Estate users will buy FREMS if they have missed out on primary sales of the listings.