Real estate investing is about to get much, much easier. Up until now, buying a property has seemed like a guessing game. Your real estate agent, inspector, and title company do their best to ensure you’re buying the right home, but a few months, or weeks, into owning it, something breaks. But not something small—something huge. Now you’re on the hook for tens of thousands in repairs, and this is just one of many things that could go wrong.
What if there was a way to see EXACTLY what a home has been through since it was built? What if you could know about every past owner, system malfunction, renovation, repair, or addition to the home? And what if you could access it in seconds when analyzing deals? Sheila Fejeran and Teresa Grobecker from Consortia are building the technology that lets you do just that.
Consortia is real estate on the blockchain. But before you start thinking crypto, know that this is something MUCH different. Consortia gives interested parties—lenders, agents, buyers, and more—access to information you would have NEVER known about a home. But that’s not all. Consortia makes closing and lending quicker, so you can buy a house FAR faster than ever imagined.
In This Episode We Cover:
How the “CARFAX for properties” will make buying rentals painless
The blockchain explained and how it will evolve the entire real estate industry
Uncovering unknown property risks and how investors can use Consortia to buy even better deals
Stopping wire fraud in its tracks and how blockchain could solve this HUGE payment problem
Why you should NEVER, ever decline title insurance on a property purchase
And So Much More!
Links from the Show
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4 Reasons Cryptocurrencies & Blockchain Technology Are Poised to Transform Real Estate
Learn More About Consortia
Connect with Sheila and Teresa:
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Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-808
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BiggerPockets Real Estate Podcast