George Ashford
Fort Myers, FL (USA)
Role(s):
INSTICERT/Housing Plus
Find More Startups
Startup
Location:
Fort Myers
Industry:
Finance
Year Founded:
2005
Number Employees:
INVALID
Description:
Housing Plus is a web trading auction platform that works like (URL removed) and (URL removed).
Where as E-Bay trades merchandise between individuals and ZOPA trades capital between individuals, Housing Plus allows a new home purchaser regardless of credit history or net worth to become general manager in an equity deal with limited partner investors to purchase his new home.
The general manager/ new home owner places a minimum of 1% down and pledges 25% to 30% of his income as profits to the deal. The general manager/new home owner shares by a formula with the limited partners in all profits monthly.
Both parties will have a deed (TIC) to the property but the investors will typically own the majority shares.
In the beginning the home owner receives back 10% of the monthly payment for being