Lofty is just a marketplace with no…
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.
Reply from Lofty
Hi there, It looks like there may be some confusion about how our platform works, and I’d be happy to clarify. Lofty is a peer-to-peer marketplace where property owners sell fractional ownership in their properties to investors. When a property is listed, we provide all due diligence materials, including a professional inspection report, appraisal, title report, lease agreements, LLC documents, and much more.
Lofty does not own or endorse the properties on our marketplace—investors conduct their own due diligence and make investment decisions based on their risk tolerance. Additionally, property owners can propose a vote to change property managers at any time, and this has occurred multiple times in the past.
If you have any questions, feel free to reach out to me directly at max@lofty.ai. I’d be happy to assist!