saw their people giving out flyers

anyone tried it before? i still dont understand fully how it works , apparently they will help u buy house and give u money to rennovate

but when sell they will get a cut

https://urbanwave.ai/

Basically like a mark up loan la, except that instead of paying it back to the bank, you are selling the stake of the house to the third party.

Example:

You buy a 500k rundown landed house, and the third party gives you a 300k "reno" money in return for a 50% stake in the house.

You sold the house 5 years later for 1 million, you get back your 500k, and the third party get back 500k,

Very rough example.

how do they know for sure can sell for 1 mil lol

That’s why they only target landed freehold more than 15 years of age.

And the property has to be approved by their team.

Basically they are targeting the undervalued freehold landed in the city, but instead of buying it themself, they JV with anyone interested to join them

if i am interested in buying landed freehold in the city, will this be a good deal for buyer intended to buy and live in long term?

This post has been edited by 15cm: Sep 26 2024, 03:16 PM

Just to take note of their tnc before you sign with them

From their website, they will want minority shares on your property, does it mean that they will have their company name in your title?

You may need to further understand their terms before you proceed with them, because from their end, they will treat your property as an investment. As an investor they will need come up with a way to earn profit from your property, from their website they just mentioned that they want to earn a chunk from the sales proceed.

So there are a few questions comes to my mind:
- what if you never want to sell the house? do they have a term that you must sell the house after certain period?
- touchwood what if their company defaulted and bank wants to sell off their assets to cover their debt, if their name is in your property title, will your property get affected?

This post has been edited by more2teayap: Sep 26 2024, 03:58 PM

sounds too good to be true tbh

If I only sell after 50 years, means they have to wait 50 years for profit?

this what i feel sus too

Im sure they have clauses to protect themselves.

Don't forget, you are co-owner now. If anything happens to them your house will be gone too.