Crypto real estate company has 3 properties under management
In collaboration with our friends at Fabrica, we've purchased property 2. The empire is coming!
We're excited to share with you that CougarDAO LLC has recently acquired its third property! With this purchase, our assets under management have grown to include a farm in Haxtun, CO, an Airbnb property in Memphis, TN, and now a vacant parcel in Cochise, AZ.
You can view our TaterDAO NFT of the property here: Cougars Cochise.
Here is the Cochise property on Fabrica: Cochise parcel.
What’s different about this purchase?
What makes this acquisition particularly noteworthy is that it was done via NFT, or non-fungible token, which is a unique digital asset that represents ownership of a physical asset. We were able to purchase the parcel from our friends at Fabrica, another blockchain-based real estate company.
As our Kali wallet cannot be used to “click-to-buy,” we had to do a workaround in order to make this purchase. Member Hassan Baydoun, purchased the real estate in his wallet, and then transferred the Cochise property NFT to our Kali address. Our next process will be to create a proposal on Kali to reimburse him for his purchase on behalf of the company.
Many wonder how it is possible that we were able to click-to-buy real estate in this instance? You may recall previously that we used our LLC to become the owner of the farm and to contract on the Airbnb. Well, our friends at Fabrica have opted to use trusts, instead of LLCs, to accomplish much the same. As described in a tweet by Daniel Rollingher, General Counsel of Fabrica, “the trust is the recorded owner at the county. The NFT represents the beneficial ownership of the trust (with the associated rights from the trust agreement). When transfer happens, Fabrica notifies the county, but no recording event occurs.”
It should be noted that Fabrica is operational in 21 states, according to Fabrica CEO Fede Pomi. He expanded, “We’re licensed as either a title agency, escrow company or real estate broker, depending on the state. Whatever it takes to touch the title!”
Essentially, CougarDAO LLC has become the beneficial owner of the Cochise, AZ property by purchasing the NFT on Fabrica.land. You can do the same and we encourage you to test out the Fabrica platform because the UI is exquisite.
More about the Cochise property:
Located in Cochise, AZ, this vacant parcel presents an exciting opportunity for development. The land is part of the Arizona Sun Sites subdivision and there is one residence nearby.
The area is known for its scenic views and is a popular destination for outdoor enthusiasts, making it a prime location for eco-tourism or outdoor recreational activities.
We're currently exploring various development possibilities and have been considering a modular or tiny home as the most likely option for development.
Income Distribution Post Upcoming:
In the next week or two, we’re going to provide you with an update on income distribution. We have distributed income from the farm and have done so on-chain!
At CougarDAO LLC, we're committed to expanding our portfolio with properties that align with our investment philosophy and our plan to continue to bridge the real world with the blockchain. By leveraging blockchain technology, we're able to streamline processes, reduce costs, and increase efficiency in managing our properties… or… at least that is the end goal.