The idea is obvious: raise funds in an ICO and use them in a property buy-to-rent scheme, sharing the profit from rent using the rent money to buy back the crypto asset. Then ultimately reselling the property on the market if majority of investors votes so, and buying back the remaining coins.
The obvious problem is the trust issue: legally the property belongs to the coin issuer, (s)he could just run away with the money. But that would be the risk associated with any kind of crowdfunding, wouldn't it ?
Has anyone tried doing it? How did it go? What are the potential or real issues?
There are some quiet similar post regarding on crowdfunding for real estate business but I think they do all failed or didn't tend to continue their plans because of lacking interest on the public or possible investors.Yes, trust would really be the main issue and as you mentioned there would really be chaos on where those properties would be named.There are lots of factors need to be arranged on this kind of stuff.
But as we see OP is currently using an newbie account and we can't truly determine by that if he is legit or not and our money will be on hazard if we trust it immediately without knowing on what is in the back of his head. But actually this idea is good but the problem here is people see some various type of scamming modus here and surely he would struggle to find those decent investor that can help here project.