Lofty Reviews 57

Stay away from this company, after they get your setup fee of 399, they literally throw you to the wolves ,There is no customer service, There is absolutely no one to help you, They expect you to build your own website and do everything on your own, they won't even answer your calls after you pay that 399 As far as you can, They will literally cost you valuable time

Website doesn't display correct/accurate information.

Doing due diligence requires spending every waking moment in the discord, and even then it's really still impossible to know the financials on any property

Tax forms are beyond awful (luckily you will be losing money so it's not really an issue 😉)

Management doesn't even attempt to stop scammers from listing properties, stealing deeds, paying their friends to do fake appraisals.

I had my account with lofty with money in it. At some point I got busy with life and stopped checking it. Now I try to log in, it says my password is not correct. So I clicked forgot to reset it, it says it’s reset, and still doesn’t let me log in. Now it’s asking for a code from an authenticator app, which I never set up. Or a backup code that I was never given. Have tried to contact support and no one responds. So now I can’t even take my money out. Beware, don’t “invest” your money on this app unless you feel generous and want to give it to them.

Lofty is just a marketplace with no real protections for buyers. A property may have an inspection report that passes with flying colors when it gets listed on the marketplace but once someone else takes over and another inspection report is done, the property has multiple issues that need to be fixed. Property data isn't always up to date on the website so it can be hard to make informed investing decisions.

A scam + do not respect applicable laws. Stay away from this platform.

I'm struggling to even begin this review. Perhaps I should use AI to write it, similar to how Lofty AI handles their help tickets.

Lofty AI's homepage boasts, "Buy and sell real estate as effortlessly as trading a share of TSLA." This is a blatant misrepresentation. I've traded stocks and invested in other real estate, and this platform is nowhere near as simple as buying a share of Tesla. It's incredibly deceptive.

As other reviewers have noted, withdrawing funds is a major hurdle. I've personally experienced this: I've contacted support, yet my money remains inaccessible.

I would strongly recommend exploring alternative platforms.

Initially, I was optimistic about Lofty AI and its concept. However, my experience has steadily declined over time.

I anticipate a response from Lofty to this review—ironically, this response will likely be faster than their actual chat support.

When I first invested, I had high hopes and believed this would be a valuable way to diversify my portfolio. Now, I feel compelled to issue a strong buyer beware.

Great idea for the platform owners, they probably make great money. The investors like me however, not so much.
They make it easy to invest and buy property tokens. However, selling those tokens for even close to what you paid is a challenge. I purchased most tokens for $50, I sold my last batch for $21, for a whopping 58% loss. All properties I invested in are very poorly run and mostly post losses, not profits. Then pulling your money out of the platform was another major challenge. I contacted support for months and they pointed me to a complicated process that did not work. Finally, a random user on the platform helped me move my money out through crypto wallets.
I truly regret ever investing in this platform.

Fantastic conversation with the co-founder Matt. I see future business. Extremely professional. Thank you

Platform is incredible. Makes buying and selling fractional real estate as easy as buying a share of stock. Have absolutely no complaints, constantly adding new features. Some of the upcoming plans are amazing. Support is good, only problems I have had thus far was a UI display error. Support promptly fixed the issue. If you have ever wanted to invest on real estate, but could not risk the amount needed this is for you.

Incredible platform and is getting better with every upgrade. All the new properties are cashflowing.

I'm a co-owner seller who listed on Lofty to tap into my unrealized equity in order to reinvest into my other properties for future listing, as well as repay capital contributions to my existing equity partners.

Lofty allowed me to successfully pull out just the right amount of equity I needed in an extremely short amount of time (I'm talking on the order of 6 figures in a matter of only 4 days since publishing). Compare this to listing on the MLS with a hopefully-competent listing agent who knows what they're doing, paying exorbitant Listing + Buying Agent/Broker Fees along the way (NAR 👀), and waiting for weeks or months on end just to find a single buyer who may or may not even qualify for a (more expensive) loan to buy my property outright, and sometimes back out of closing at the last minute while demanding the return of their Earnest Money Deposit. Lofty allows me to list my property AND retain a portion of my equity that I don't need to sell, AND I can even keep my original 4.75% 30-year fixed loan! I can then continue paying my mortgage as I have been, which allows me to essentially use a cheap loan I got years ago to buy back into the escrowed equity of my property over a longer period of time. Meanwhile, the equity I was able to unlock could be used to pay down more expensive debts, repay my partners with interest, and/or reinvest into other properties!

On the flip side, as an investor-buyer of real estate myself, this allows me to diversify my portfolio without adding to my headaches. I can buy in/out of my positions or properties pretty much any time I want, now with the option of instant fulfillment of market orders for dozens of properties with liquidity pools funded. They take a reasonable 2.5% of every order, which is the way realtors should've been doing it all along, not the status quo of putting the entire burden of transaction fees and closing costs on the seller. Lofty breaks all status quos and really makes real estate investing as easy as shopping on eBay.

As far as the team itself goes, Max and Jerry are super awesome and dedicated folks, and they're super responsive. I don't know if they even sleep, as I myself am up during irregular hours of the day. Once I emailed around 3 AM about a listing error I noticed, thinking a text would be too intrusive. Max replied and corrected it immediately. It was a minor error that could've waited until morning to be honest. A larger, more serious technical error caused a failure of the deployment of my property's Automated Market Maker Liquidity Pool an hour into the launch. Because it was an extremely unfortunate software bug that happened on their platform that has since been resolved, over US$20k of user funds got trapped and locked away and essentially burned. Lofty made me and all the other affected users whole by reimbursing our funds out of their own pocket. I can tell, because the old/failed smart contract still contains those now-inaccessible funds. This is a company I can trust, and I hope the reader of this review ignores all the noise and does so as well.

Lofty is exactly the startup I would quit my job to build if it didn't already exist! Jerry and Max are a very competent and integrous team to be at the helm as captains of the ship. I do not work for Lofty, and because they built a robust platform over the past 4+ years, I don't have to!

I've been using Lofty about 8 months and have had a great experience, that's not to say there haven't been some growing pains but every question I've had was answered personally and solved within a day or two. No just telling me to look at the FAQ, I get real answers. The returns are ok to great if you do your homework and research. It's investing so it comes with risk, if you don't realize that then you shouldn't be investing... Great customer support especially when things get confusing, I'm new to crypto so I ask a lot of questions but they are always happy to help. I'd love to see this company grow long term and grow my investments with it!

Overall: Some pros but notable cons. Best part is the open marketplace. Worst part is what's on the marketplace. I'm adjusting my review to better reflect my experience with the company and systems in place at Lofty - and less reflective of the marketplace offerings.

On that note, about the properties on the marketplace... It's great that there's lots of properties to choose from, and I loved that you can actually SELL when you want to, freely, on an open marketplace (something many competitors do not allow - you're locked up!).

But many properties are rough. I did a one-year trial run with Lofty. 2 of 3 properties I owned were vacant the majority of this year - one with multiple break ins throughout, and waiting on an inspection for 6 months and counting. Property managers may lack in some competence.
Before investing, make sure to look at the ACTUAL returns you can expect immediately on a property before buying (the "Rental Yield" on each property page. There's a lot of factors to consider but for me personally, this one is most important. If a property is at 0%, there's a red flag somewhere.

I do not enjoy that things are so ingrained with crypto but they are upfront about it, and offer some things to make it more traditional (like being able to buy via credit card, and withdraw via Paypal in USD).

I've been using Lofty.ai for about 2 years and it has been a good experience. What they said will happen does happen... I just met with the CEO to discuss their new staking features and get my questions answered 1:1. I believe Lofty.ai is doing a great thing in real estate by allowing more people to engage in a historically slow market that required a large amount of capital to engage with. This company is solid, but keep in mind that real estate is a beast of its own... Rental management is difficult and can have problems but Lofty.ai does a great job keeping you informed about what is happening with your properties and allows for DAO-style management for token owners. All around great company and it seems to be moving in the right direction.

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I have updated my review on 04 Jan and 26 Jan due to attentiveness of Max and the fact that I believe this Lofty venture in going to be really great in future through growing pains. I hope to give a 5-star review in the future.
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1. NO IN-HOUSE 2FA: i have many many crypto & other accounts that do not require using a 3rd party 2FA. However, I realize that a slice of people do not mind using 3rd party 2FA. Still 1 star deducted for this.
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2. SHORT TERM MEMORY LOSS: when my password has remained the same, Lofty AI repeatedly does not recognize it and forces me to change my password (and I use the same password, again) This may be working, now... I do not know. No star deducted.
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3. FLUBBER FORMATTING: this maybe fixed. no star deducted.
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4. NARCISSIST AI: their AI chat bot prompts you with what I guess is a popular FAQ... yet, when you type in and submit your specific question, their AI chat bot gives you the answer to this other popular FAQ and totally ignores the question that you asked / submitted... bizarre... (update: nobody likes an AI chatbot that ignores you). however, no star deducted.
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5. INCONGRUENT WORDING: this had to do with Lofty AI not being able to find my wallets, then not showing that I had any tokens, due to some recent opt-in of which I was not notified by email since emails do not contain many details about accounts like order numbers or receipts or any information that might be leaked. Wallets were found, tokens were found. No star deducted.
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6. NO IN-HOUSE KYC: Still locked out of my account, Luis reset my 2FA and asked me to email a photo of my face and a photo of my photo ID with my physical face in that photo as well. This, to me, is the opposite of security, however Max reassured me that everyone is willing to email selfies and photo ID over unencrypted email, which is mystifying to me, however if that works for people, then I am one of the hold-outs... or the only hold-out. I have many many accounts and all of them use KYC or Know Your Customer protocols for collecting faces and photo ID's with encryption for security. (not that anything is really ever secure). One star deducted for this, for now...
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Although, initially, Lofty had communication delays during the Holy Days... Max has now been extremely attentive with emails and willing to get on a call to get me back into my account... yet, without in-house 2FA and in-house KYC... I let him know that I would wait.
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If you do not mind using 3rd party 2FA and unencrypted KYC... this Lofty is the way to go... as is witnessed by a huge amount of positive reviews. I am only one voice... and want Lofty to succeed. So go for it.

A few years ago, I was looking for innovative ways to invest in rental properties without the hands-on requirements of owning & operating. I’ve invested in REITs (public and private), various partnerships, etc. Until this point, however, I avoided other fractional investments mostly for lack of trust of the process, fees & other gimmicks. Having also spent time during this period understanding how blockchain technology could greatly save costs and increase productivity for many businesses, I was intrigued when I came across Lofty.Ai either on Reddit or Twitter (I don’t recall). I dug in, spoke with the team, setup my account and participated in their first token offering. I have subsequently acquired multiple thousands of tokens across over 20 properties. I am a patient investor. What the Lofty team has built, and continues to advance, I believe is the future of property investing. And, the technology is applicable to multiple other cash flowing assets classes. It’s early days, but the product works and, overtime, I expect a greater adoption along larger pools of capital which will increase both liquidity and the types of offerings on their platform. The very fact that you can get liquidity on their platform to buy property tokens (which represent interests in an DAO LLC), collectively makes decisions related to every axle f of property management with other owners, and, collect rent on a daily basis from fully rented properties - all while using the power of a blockchain from your phone, is brilliant. It’s also not easy to execute. The tech is great and improving. Lastly, the team and their responsiveness is amazing.

I really like this as an investment so far. Some things are slow, some quick. Customer service has been excellent through the chat feature. They respond within a day or less in my experience. It's taking me some time to navigate the site. The site itself can be glitchy (really glitchy) ex: one property kept asking me to sign the co-owner agreement about 7 times before it went away. Upon initial setup, it didn't want to link my credit union at all. I had to go with another bank and it took over 8 tries to get a bank linked. I was able to invest in a property right away and it took some time for the funds to settle. I started gaining interest (rent income) on the property right away which is my favorite feature (daily interest!) I have 12 cents so far off purchasing 1 token on one property, maybe 2 weeks ago. One property just settled today, and with my Lofty wallet balance I had due to a purchase not going through due to a glitch on their platforms end (which they seem to be actively fixing) I used that "refund" in the wallet to purchase 1 token of an additonal property which allowed me to have a 3rd instantly settled (closed) property on my account. So I liked being able to see that right away and not wait, for a total of 3 properties in my real estate investments which I can see daily interest/rental income accrue and if I choose to, withdraw to my bank. An instant debit card feature would be nice for withdraw ;) I enjoy the customer service rep's detailed explanations when I have questions because it makes the site and all the numbers and words more understandable when I can't quite figure out how to translate all the information myself. This is after investing about $150 in stocks (being new to investing) and seeking something else that could get me a daily (even if small) profit that is accessible without funds necessarily being tied up. I have yet to figure out the selling tokens part and the converting cryptocurrency in order to withdraw sale profits, though I did see they had a step by step on that. Right now I just want to watch my money settle and grow and watch how the real estate market and Lofty's site develops this year. Overall I feel happy with this investment and finding this website. Another desire I have is to reevaluate the referral feature. I have maybe $150 in investments on this site now (in less than a month) and constantly refer people, but the terms say they have to invest $250 within 30 days for me to get my $50 referral bonus. I signed up under someone else's link and recieved the $20 sign up bonus which was awesome. But most of my friends and family are still weary on investments and most probably won't spend that much on real estate right away. I'm the go getter of the group so...wouldn't it be nice if the profit was in favor of the referrer and didn't depend so heavily on a new and weary investor? Thank you!

Lofty is the only investment platform that I've found that lets you invest a minimum of $50 for a fraction of an actual property. Love how they've integrated the use of the algorand blockchain. Rental income withdrawal whenever!!!

I'm glad I discovered lofty near the start of it all. I'm riding this along for years to come.

I thoroughly enjoy how user friendly and simplified the process is for purchasing tokenized real-estate on Lofty. I had a conversation w/Co-Founder Max earlier today (October 25th, 2022) in regards to a few questions that I had. He was extremely helpful, knowledgeable, and took the time to thoroughly explain things to me as well as what the future plans for Lofty. If you are thinking about investing in real-estate and earning passive income this is definitely a site to check out. The team is second to none and they are extremely supportive and willing to help you out in anyway possible!