Lofty is not a fund. We do not purchase properties, flip them, and then sell them on our website. The Lofty marketplace consists of buyers (token investors) and sellers (people who want to sell their properties). Lofty properties are listed by multiple parties that source deals to our marketplace. These parties include real estate agents, turnkey providers, wholesalers, and home flippers.
Once approved, the property is put under contract by a newly formed DAO LLC. The DAO LLC is then tokenized into individual $50 tokens on the Algorand blockchain.5% transaction fee on the primary market purchase