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Loftium — Get a down payment for Airbnb'ing a room in your new home
Loftium is service that offers a down payment to those willing to rent an extra bedroom in your new home on Airbnb for 12-36 months and share the profits.
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@rrhoover My first impression was that it was for people who wanted to buy a house faster than they typically could out of their means, and that they might have been Airbnb hosts before - from that perspective I love it! It's not for me but I think it's an interesting take / new economical viewpoint.
@rrhoover @m_____v Thanks a lot Marcus! Indeed, that's our core customer segment... the backstory is that with skyrocketing student debts and rent costs, even people with solid incomes will take another 5+ years to accumulate enough savings for a down payment (even 5/10%... as an example of this, one of our first customers works at Microsoft.) In the last 24 hours over 1,000 interested buyers have signed up, the majority of which are able to pay relatively high monthly payments (e.g. $2,000 +) but don't have enough saved for the down payment (e.g. $20,000).
@rrhoover @adamstelle Totally makes sense - I think it's a cool thing and will be so excited to see it go beyond Seattle, too - when the time is right!
To save a click: This is in Seattle only and only for primary residences, not investment properties
@adamstelle @yifanz Fascinating approach, and one I'm curious to watch closely given the intersection of travel & real estate (the two industries I have the most experience in). How strict are the requirements of "being an airbnb host"? Ie what do you require of them, and for how long? How many times per week/month do they have to host? What happens if they don't live up to that?
My gut is this would work nicely with mother in law units. Or vacation rentals. Or investment properties. But not if you're requiring renting a bedroom in a primary residence where the owner needs to share space with (frequently rotating) guests.
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