Frank Rohde, Founder and CEO of Ownify, explains a unique alternative to rent-to-own structures. Ownify is an alternative to traditional mortgages for first-time home buyers. It allows buyers to purchase homes and build equity without incurring debt. The homes are fractionalized into 10,000 bricks, which are membership interests in an LLC that holds title to the home. Buyers contribute a 2% down payment, while Onify contributes 98% of the bricks. Over a five-year program, buyers pay rent and gradually buy more bricks, eventually reaching 10% ownership. At the end of the program, buyers can use their equity to obtain a traditional mortgage and purchase the home from the LLC.
Keywords Ownify, alternative mortgage, first-time home buyers, fractional ownership, down payment, equity, rental income, home price appreciation
Chapters
00:00 Introduction to Ownify
03:22 How Ownify Works: Building Equity Without Debt
14:56 Buying the Home and Future Market Value
19:24 Balancing Investors and Buyers
26:39 Maintenance and Repairs
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