Individuals from both Canada and the US, including other nations can invest on FutureState Realty. However, if you are located in a country facing sanctions, you may be restricted from investing due to regulations imposed by the Office of Foreign Assets Control (OFAC). The sanctioned countries include, but are not limited to, the Balkans, Belarus, Burma, Côte D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Russia, Sudan, Syria, and Zimbabwe.
At FutureState Realty, the estimated value of a property, also referred to as Fair Market Value (FMV), is calculated using a specific methodology. The process begins with the most recent sale price of the entire property (not the fractional token interest), which serves as a base. As new data becomes available, the percentage change between subsequent price estimates is applied to this base price, adjusting the estimated value over time. The price estimates are derived from reputable real estate data sources, ensuring a realistic and updated representation of a property's worth in the current market. This method helps provide a general guide on the potential value of a property if it were to be sold in the local real estate market without a tenant.
A Blockchain Wallet is fundamental to managing and transacting in cryptocurrencies or tokens. On FutureState Realty, we utilize a specific blockchain to handle the accounting of fractional ownership of properties. Our chosen blockchain requires the use of a particular wallet where tokens representing your ownership are stored. Each property on our platform has its unique token, which signifies your share in that property. Your ownership is depicted by the tokens you possess in your blockchain wallet.
To interact with our platform and to receive your purchased tokens of real estate, you'll need to set up a wallet. The wallet comprises two parts: a public address and a private key. Think of the public address like a mailbox where others can send tokens, and the private key as the mailbox key, which allows only you to access and manage your tokens. It's crucial to securely store your private keys as losing them means losing access to your tokens.
We recommend using a specific blockchain wallet which aligns with the blockchain we operate on, ensuring seamless transactions and secure management of your assets on FutureState Realty.
On FutureState Realty, each investor can own up to a maximum of 10% of the tokens for a given property. This limit is set to maintain a balanced and fair governance structure, ensuring that voting power is distributed evenly among investors. However, if a property has been live on our platform for more than three days, the maximum token ownership limit per investor is increased to 15%. This structure helps to uphold a fair voting system, allowing for democratic decision-making processes regarding property management and other significant decisions.
Each property on FutureState Realty has an Operating Reserve allocated for repairs, with the balance being around 5% of the property purchase price. The professional Property Managers handle repairs using either in-house vendors or local contractors hired specifically for the task. Urgent repairs are addressed immediately, while non-urgent repairs, as requested by the resident, are subject to a Governance Vote by the property owners who can decide whether to proceed with the repair or not. If the Operating Reserve is used but remains above 50% full, owners have voted to allocate 10% of the cash flow to replenish it until it's fully restored. However, if the reserve falls below 50%, owners voted to allocate 50% of the cash flow to restore it to 50% full, and then 10% of the cash flow until it's 100% full. The Operating Reserve balance is a component of the property value, which means as the reserve is replenished, the property value increases correspondingly.
Upon successful payment, tokens are typically transferred to your wallet within a short period. However, the exact timing may depend on the payment method used and the blockchain's processing speed. Rest assured, FutureState Realty aims to ensure a swift and smooth transaction process for all our investors.
The price of FutureState Realty Tokens is primarily influenced by the value of the underlying real estate assets rather than the price of the supported cryptocurrency.
FutureState Realty provides a user-friendly dashboard where you can track the performance, valuation, and other relevant metrics of your property in real-time.
Our property managers adhere to a rigorous tenant selection process that includes thorough background checks, credit evaluations, and income verifications to ensure reliable tenancy.
Absolutely! All owners on FutureState Realty have the privilege to propose governance votes, which can be deliberated and voted upon by the other owners. If you have a governance proposal, simply submit it to our team, and we will promptly disseminate it to all property owners for consideration. Once a governance vote is concluded, a 90-day buffer period ensues before the same governance vote can be proposed again, unless there are significant alterations concerning the property within the 90-day timeframe. For instance, unexpected repair costs surpassing the Operating Reserve balance or a tenant eviction might trigger an exception to this rule. At FutureState Realty, we are committed to refining our governance protocol continuously to ensure a collaborative and transparent decision-making process among token holders. The aim is to empower token holders with full control and voting rights concerning the properties they own. In the near future, we plan to unveil a refined governance protocol that will facilitate on-chain voting and proposal of new governance votes directly within the FutureState Realty dashboard, augmenting the engagement and decision-making capabilities of our community. Please note that governance votes cannot contravene legal stipulations; for example, maintenance issues affecting the livability of a property with a tenant must be addressed promptly as per the law, and cannot be delayed through a governance vote.
Currently, investing through an entity like an LLC is not supported on FutureState Realty, although this feature might be introduced in the future. If you are interested in investing under an entity, we have a designated form you can fill out to express your interest, and we will keep you updated on any developments regarding entity investment options.
If a property isn't fully funded by the closing date, our team will contact the seller to inquire about extending the deadline for closing, which is typically agreeable. If the seller agrees to extend the closing date, the property will continue to be listed on our platform until the new closing date. However, if the seller is unwilling to extend the closing date, all investors who purchased tokens for the property will receive a full refund, and the listing will be cancelled and removed from our marketplace.
No, at FutureState Realty, all properties are acquired using all cash without incurring any debt, ensuring a straightforward and debt-free investment experience for our users.
FutureState Realty employs ERC-20 supported blockchains for tokenizing properties, ensuring a seamless and secure transaction experience for our users.
The processing time for EMT/ACH (bank transfer) transactions can vary, and it may take a few business days for the funds to clear. Once the transaction is complete, your tokens will be transferred to your wallet promptly.
The holding period for properties on FutureState Realty varies and is determined based on multiple factors including market conditions, property performance, and investor consensus.
Currently, FutureState Realty does not support 1031 Exchanges. However, we are exploring ways to incorporate this feature to provide more flexible investment options.
