Instant Assets Token — Project Review

If you are familiar with Portfolio Management, Real estate is one asset you’d acquire since this could provide numerous opportunities, from leasing/renting your property, selling it when it increase it’s value and many more. But starting with this asset class requires a high capital, a friend of mine is a well sought investor for real estate, not in stocks but on traditional real estate market which he buys a house, get it on lease and after a few years for holding it, then he sells it for double to triple the price, quite a great business actually but talking about the capital, it’s not for the masses.

Anyways, talking about the real estate business, it doesn’t end with buyer and seller, there are brokers, inspectors, contractors to help you appreciate your assets value, lawyers and many more. Thus, this creates a huge margin for the buyer nor the seller cutting out their profits into commissions for the services they acquired.

Introducing IATokens,

The IA Tokens concept is a form of real estate tokenization and will be released via a process of Initial Coin Offering or ICO on the Ethereum network and will be ERC- compatible.

Funds raised from this ICO will be used to develop the IAT blockchain and assets will be acquired to form the initial bulk of properties in the IAT ecosystem. The asset management will be undertaken by our existing management company that is currently operational.

Source : https://www.iatokens.com/wp-content/uploads/2019/11/whitepaperv4.pdf

Real Estate is a great business, thus digitization of your assets to eliminate traditional barriers to increase profits of the seller and cheaper property investment for the buyer.

First I will tell you more about the current state of the Real Estate industry in the Philippines since IAT would start and already acquired partnerships including Sage Solutions and Asia Pine Philippines.

Why Philippines is a great place for real estate?

Being a tropical country and having 7,641 islands, Philippines is inhabited by not only the locals but also with foreigners which loves the place because of it’s tourist spots which differ from place to place across those 7,641 islands.

The demand is astonishing to consider those places, especially islands that has no proper shelter for tourists. Airbnb, hotels, condominiums, house-for-rent, name it, opportunities for Real Estate opportunity is never ending.

Entering Real Estate Business

There are numerous things to consider having property investments and IAT would help eliminate the traditional barriers.

“Your house is not an asset” is a quote that is marked on me from the book “Rich dad, Poor dad” of Robert Kiyosaki. It is said that your house is an expense, sucking your income for utilities, maintenance, and tax. Compared to real estate, they didn’t differ far from each other, in fact the said problems being on this business is far worse than having your own house, all you got to do is manage it well then it would be good.

Tax — Tax like documentary stamp tax, transfer tax and Title registration fee which ranges between 2.25% to 3%. If you are the buyer, the norm is to pass on certain fees and taxes on you which will increase the total fees to a range of 6% to 12%. A huge margin for the buyer or seller which increase the properties price on the same market value or decreases market value that would be passed on necessary tax requirements.

Broker — Buying/Selling your property does not come handy so you pick a good real estate agent to buy/sell it for you, the thing is here is that commission rates usually range from 5%–6% which also comes from buyer/sellers pocket.

Fees and Legal Advice — Other fees including legal advice, survey, that is necessary could also be a burden for anyone who wishes to acquire or sell a real estate.

IATokens Solution

On IAT platform, individual could now digitize their assets making it available for all users on the ecosystem, this means they could sell their properties to any buyers present on IAT platform using NIAT, depending on every country they reside.

Using NIAT, brokers could also list the properties they want to sell giving them a high advantage on the market.

Real Estate owners could also lease their property to all IAT ecosystem, thus, giving them a wider market with higher profits because of brokers eliminated in the scene which cuts a huge percentage of their profits.

CONCLUSION

Problems arise on real estate business and as technologies arise, we make use of it. Innovating Real Estate with blockchain technology which makes transparency and lesser middle man creating better opportunities for participants as they could benefit from a higher sale or a cheaper property.