How will Blockchain Technology disrupt your real estate investing business?
You’ve heard the word blockchain, and maybe associated it with a cryptocurrency like bitcoin. It is true that bitcoin uses shared ledger technology, but it would be wrong to assume that cryptocurrency is a blockchain.
Joe Snyder, the CEO of Lannistor Holdings, takes us through what a blockchain is and how it will be used in real estate investing in near future.
The simplest description of a blockchain is:
All users with access to the ledger can see the in real time, exactly what is the current status. Because there is not one central point, the opportunity for a hack or corruption are reduced.
Every major industry, government and education institution is looking into how they can employ blockchain technology. They are looking at how using a shared ledger can result in cost savings and loss mitigation.
It is estimated the next 36 months shared ledgers will be introduced and become the standard for many current paper systems.
You are a real estate investor asking how will Blockchain affect your real estate investing. A couple of easy applications are chain of title and lender investor records, ie mortgage backed securities.
For your real estate investment, a clean title is a must. If your title has a hidden lien, no lender will lend, and you will not be able to transfer ownership to a willing buyer. Shared ledger technology would allow for the local government, seller, buyer and lender to determine with certainty if there are any claims against the property instantly.
Do you remember the mortgage meltdown and the mess created by mortgages that were packaged, securitized and resold? There were multiple stories of homeowners losing their homes because the bank or loan servicing company was selling the home because they could not identify performing mortgages from non performing .
A blockchain would have provided instant identity for the homeowner to stop the sale, and or the lender to recognize the loan was performing.
These are just a sample of how shared ledger technology will affect real estate investing.
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The ability to increase your net operating income and property value can be affected by either increasing your rents, lowering your expenses or both.
When you use micro water meters to measure your building water usage, you have instant actionable performance data that you can immediately respond to and correct the leak. Your ability to timely stop your leak can reduce your operating expense, save money and water.
Jack Howell with ION Energy Solutions, monitors over 800,000 micro water meters daily. Because ION measures so many units, they have the experience and data benchmarks to recognize instantly when one of your units has a leak.
The average cost of a gallon of water is $.01. The average usage of a two bedroom apartment is 100 gallons per day. If one toilet flapper chain gets hung up and the flapper does not close, and the toilet fills for six to seven hours, that toilet can waste as much as 3,000 gallons in one day. That’s more water in one day than should be used in one month. If that one toilet leaks for 30 days, it’s easy for the cost of wasted water to add up.
Water leaks have little to do with gallons and everything to do with time. An average medium leak will waste 1,000 gallons per day. How long would it take for you to determine you have medium leak? How much will your medium leak cost you over 3 months?
There are multiple reasons to consider installing micro meters. The primary reason are financial. Less water used, results in a lower water bill. Additional reasons include that the micro meters qualify for Green Loan Incentives. Use of micro water meters can also fulfill some of your reporting requirements for Low Income Housing Tax Credits.
If you own multifamily property and are looking for ways to reduce operating expenses, you need to know about the savings available through the use of micro water meters.
For more go to: www.IONENERGYSOLUTIONS.com